Company Registration No. 15791524 (England and Wales)
CADMUS PRODUCTS LIMITED
(FORMERLY CADMUS PRODUCTS INTERNATIONAL LIMITED)
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CADMUS PRODUCTS LIMITED
(FORMERLY CADMUS PRODUCTS INTERNATIONAL LIMITED)
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 8
CADMUS PRODUCTS LIMITED
(FORMERLY CADMUS PRODUCTS INTERNATIONAL LIMITED)
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
Notes
£
£
Fixed assets
Intangible assets
3
2,870,343
Investments
4
1
2,870,344
Current assets
Stocks
58,460
Debtors
5
812,088
Cash at bank and in hand
208,211
1,078,759
Creditors: amounts falling due within one year
6
(1,125,894)
Net current liabilities
(47,135)
Net assets
2,823,209
Capital and reserves
Called up share capital
2,900,000
Profit and loss reserves
(76,791)
Total equity
2,823,209

For the financial period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 14 October 2025 and are signed on its behalf by:
MJ Hayward
Director
Company registration number 15791524 (England and Wales)
CADMUS PRODUCTS LIMITED
(FORMERLY CADMUS PRODUCTS INTERNATIONAL LIMITED)
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Period ended 31 December 2024:
Loss and total comprehensive income
-
(76,791)
(76,791)
Issue of share capital
3,250,000
-
3,250,000
Reduction of shares
(350,000)
-
0
(350,000)
Balance at 31 December 2024
2,900,000
(76,791)
2,823,209
CADMUS PRODUCTS LIMITED
(FORMERLY CADMUS PRODUCTS INTERNATIONAL LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Cadmus Products Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Suffolk Drive, Dukes Park Industrial Estate, Chelmsford, Essex, CM2 6UN.

1.1
Reporting period

The company was incorporated on 20 June 2024, and commenced trading on 1 August 2024. The financial statements for 31 December 2024 represent a period of 5 months.

1.2
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.3
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for at least 12 months from the date of approval of these financial statements. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

CADMUS PRODUCTS LIMITED
(FORMERLY CADMUS PRODUCTS INTERNATIONAL LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.6
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
10% straight line
1.7
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

CADMUS PRODUCTS LIMITED
(FORMERLY CADMUS PRODUCTS INTERNATIONAL LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.10
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.11
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

CADMUS PRODUCTS LIMITED
(FORMERLY CADMUS PRODUCTS INTERNATIONAL LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.12
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.13
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.14
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.15
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.16
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

CADMUS PRODUCTS LIMITED
(FORMERLY CADMUS PRODUCTS INTERNATIONAL LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 7 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Amortisation

The amortisation expense is recognition of the decline in the value of the asset and the allocation of the cost of the assets over the periods in which the assets will be used. Judgements are made on the estimated useful life of assets which are regularly reviewed to reflect the changing environment.

3
Intangible fixed assets
Goodwill
Other
Total
£
£
£
Cost
At 20 June 2024
-
0
-
0
-
0
Additions
2,999,228
2,408
3,001,636
At 31 December 2024
2,999,228
2,408
3,001,636
Amortisation and impairment
At 20 June 2024
-
0
-
0
-
0
Amortisation charged for the period
131,092
201
131,293
At 31 December 2024
131,092
201
131,293
Carrying amount
At 31 December 2024
2,868,136
2,207
2,870,343
4
Fixed asset investments
2024
£
Shares in group undertakings and participating interests
1
CADMUS PRODUCTS LIMITED
(FORMERLY CADMUS PRODUCTS INTERNATIONAL LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
4
Fixed asset investments
(Continued)
- 8 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 20 June 2024
-
Additions
1
At 31 December 2024
1
Carrying amount
At 31 December 2024
1
5
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
216,291
Corporation tax recoverable
6,750
Other debtors
589,047
812,088
6
Creditors: amounts falling due within one year
2024
£
Trade creditors
540,788
Corporation tax
24,115
Other creditors
560,991
1,125,894
7
Related party transactions
Transactions with related parties

During the period the company received a dividend of £83,444 from Cadmus Distribution Group Holdings Ltd, a company associated by common control, as part of a group reconstruction. The balance due from Cadmus Distribution Group Holdings Ltd at 31 December 2024 is £83,444.

During the period the company also incurred a number of administrative expenditure recharges from Cadmus Distribution Group Ltd on normal commercial terms. This company is associated by common control. The balance due from Cadmus Distribution Group Ltd at 31 December 2024 is £193,037.

8
Directors' transactions

In the period ended 31 December 2024, the company made advancements to directors totalling £20,000. At 31 December 2024, the carried forward amount is £20,000 and is included within other debtors.

2024-12-31 2024-06-20 false false false 14 October 2025 CCH Software CCH Accounts Production 2025.200 No description of principal activity MJ Hayward DM Frith MS Boyton 0 15791524 2024-06-20 2024-12-31 15791524 2024-12-31 15791524 core:NetGoodwill 2024-12-31 15791524 core:IntangibleAssetsOtherThanGoodwill 2024-12-31 15791524 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 15791524 core:ShareCapital 2024-12-31 15791524 core:RetainedEarningsAccumulatedLosses 2024-12-31 15791524 bus:Director1 2024-06-20 2024-12-31 15791524 core:RetainedEarningsAccumulatedLosses 2024-06-20 2024-12-31 15791524 core:ShareCapital 2024-06-20 2024-12-31 15791524 core:Goodwill 2024-06-20 2024-12-31 15791524 core:IntangibleAssetsOtherThanGoodwill 2024-06-20 2024-12-31 15791524 core:ComputerSoftware 2024-06-20 2024-12-31 15791524 core:NetGoodwill 2024-06-19 15791524 core:IntangibleAssetsOtherThanGoodwill 2024-06-19 15791524 2024-06-19 15791524 core:NetGoodwill 2024-06-20 2024-12-31 15791524 core:CurrentFinancialInstruments 2024-12-31 15791524 core:WithinOneYear 2024-12-31 15791524 bus:PrivateLimitedCompanyLtd 2024-06-20 2024-12-31 15791524 bus:SmallCompaniesRegimeForAccounts 2024-06-20 2024-12-31 15791524 bus:FRS102 2024-06-20 2024-12-31 15791524 bus:AuditExemptWithAccountantsReport 2024-06-20 2024-12-31 15791524 bus:Director2 2024-06-20 2024-12-31 15791524 bus:Director3 2024-06-20 2024-12-31 15791524 bus:FullAccounts 2024-06-20 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP