REGISTERED NUMBER: 06263199 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

CARDONET CONSULTANCY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr I Heinrich

Mr S D Saltoun

REGISTERED OFFICE:

7 Stean Street

London

E8 4ED

REGISTERED NUMBER:

06263199 (England and Wales)

ACCOUNTANTS:

Melinek Fine LLP

Chartered Accountants

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

FIXED ASSETS

Tangible assets

4

15,772

19,939

CURRENT ASSETS

Debtors

5

2,670,588

3,578,286

Cash at bank

633,397

354,320

3,303,985

3,932,606

CREDITORS

Amounts falling due within one year

6

1,439,130

1,731,488

NET CURRENT ASSETS

1,864,855

2,201,118

TOTAL ASSETS LESS CURRENT LIABILITIES

1,880,627

2,221,057

CREDITORS

Amounts falling due after more than one year

7

70,037

190,101

NET ASSETS

1,810,590

2,030,956

CAPITAL AND RESERVES

Called up share capital

2

2

Profit and loss account

1,810,588

2,030,954

1,810,590

2,030,956

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit & loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 December 2025 and were signed on its behalf by:

Mr S D Saltoun - Director

1.	STATUTORY INFORMATION

Cardonet Consultancy Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is stated net of VAT. Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has been only partly completed, at the balance sheet date, turnover represents the value of the services provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life:

Computer Equipment- 33.33% Straight Line

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual

provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current asset investments, represented by listed investments, are subsequently recognised at market value.

Debt instruments are subsequently measured at amortised cost unless they are classified as receivable within one year in which case they are measured at the undiscounted amount of the cash or other consideration expected to be received net of impairment.

Financial liabilities that are classified as payable within one year are measured at the undiscounted amount of the cash or other consideration expected to be paid.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset or settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 52 (2024 - 47 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2024

47,838

57,429

105,267

Additions

-

11,490

11,490

Disposals

-

(45,303

)

(45,303

)

At 31 March 2025

47,838

23,616

71,454

DEPRECIATION

At 1 April 2024

47,838

37,490

85,328

Charge for year

-

15,657

15,657

Eliminated on disposal

-

(45,303

)

(45,303

)

At 31 March 2025

47,838

7,844

55,682

NET BOOK VALUE

At 31 March 2025

-

15,772

15,772

At 31 March 2024

-

19,939

19,939

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,266,056

2,509,539

Amounts owed by group undertakings

1,250,000

254,546

Other debtors

154,532

814,201

2,670,588

3,578,286

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 8)

120,063

120,063

Trade creditors

330,704

679,392

Amounts owed to group undertakings

345,454

-

Taxation and social security

373,441

501,372

Other creditors

269,468

430,661

1,439,130

1,731,488

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 8)

70,037

190,101

8.

LOANS

Included within creditors amounts falling due after more than one year, is a bank loan with Barclays. The loan bears interest at a variable rate, bearing interest of 6.78% per annum within this financial year. The loan is due for repayment on 27 October 2026.

9.	RELATED PARTY DISCLOSURES

The company was throughout the year under review, a wholly owned subsidiary of CCL London Holdings Limited, a company registered in England. these financial statements are not included in the parent's financial statements on the basis that they are a small group.

At 31 March 2025 the company owes £345,454 (2024: is owed £254,546) to (2024:from) CCL London Holdings Limited, its parent. The loan is non- interest bearing and repayable on demand.