Company registration number 06517935 (England and Wales)
116 CARDAMON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
Affinia
The Octagon Suite E2
2nd Floor Middleborough
Colchester
Essex
CO1 1TG
116 CARDAMON LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 7
116 CARDAMON LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2025
31 May 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors
8
1,217,880
5,641,582
Cash at bank and in hand
73,795
33,082
1,291,675
5,674,664
Creditors: amounts falling due within one year
9
(1,046,902)
(11,279,599)
Net current assets/(liabilities)
244,773
(5,604,935)
Capital and reserves
Called up share capital
10
200
200
Profit and loss reserves
244,573
(5,605,135)
Total equity
244,773
(5,604,935)

The notes on pages 2 to 7 form part of these financial statements.

For the financial year ended 31 May 2025 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 year in question in accordance with section 476.

The director acknowledges his 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 director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 6 February 2026
Mr G Pulford
Director
Company registration number 06517935 (England and Wales)
116 CARDAMON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 2 -
1
Accounting policies
Company information

116 Cardamon Limited is a private company limited by shares incorporated in England and Wales. The registered office is Speed Medical House, 16 Eaton Avenue, Matrix Park, Chorley, Lancashire, PR7 7NA.

1.1
Accounting convention

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.

1.2
Going concern

The Director has considered the Company’s forecasts and projections, taking into account reasonable possible changes in trading performance and cash collection profile together with other means of managing cash outflows. This shows that the company has sufficient resources and facilities to meet its liabilities as they fall due and the financial statements have been accordingly prepared on a going concern basis.true

After making enquiries, the Director has a reasonable expectation that the Company has the adequate resources to continue in operational existence for the foreseeable future. Accordingly, he continues to adopt the going concern basis of accounting in preparing the annual report and financial statements.

1.3
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.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
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.

116 CARDAMON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 3 -
1.5
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 statement of financial position 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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

1.6
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.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is 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.

116 CARDAMON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 4 -
3
Exceptional item
2025
2024
£
£
Income
Exceptional item - Other operating income
-
43,435

The exceptional income in the prior year relates to the final payment received in respect of the historic successful breach of warranties claim against the former owners of Motorplus Limited.

4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
1
1
5
Interest payable and similar expenses
2025
2024
£
£
Interest payable and similar expenses includes the following:
Interest payable to group undertakings
51,497
53,814
116 CARDAMON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 5 -
6
Fixed asset investments
Investments in subsidiary companies
£
Cost or valuation
At 1 June 2024
6,471,166
Disposals
(2,401,802)
At 31 May 2025
4,069,364
Impairment
At 1 June 2024
6,471,166
Disposals
(2,401,802)
At 31 May 2025
4,069,364
Carrying amount
At 31 May 2025
-
At 31 May 2024
-
7
Subsidiaries

Details of the company's subsidiaries at 31 May 2025 are as follows:

Name of undertaking
Class of
% Held
shares held
Direct
Indirect
Marplace (Number 641)
Ordinary
100.00
-
Aim Legal Expenses Insurance Limited
Ordinary
0
100.00

The registered office of all subsidiaries is the same as the Parent Company and is stated on the Company Information page.

During the year the company disposed of Motorplus Limited to a related party by virtue of common ownership at market value. As part of the sales agreement for the disposal of the subsidiary undertaking, the Company may be entitled to receive additional consideration of c£5.4m in relation to a contingent asset if this is realised by Motorplus Limited.

116 CARDAMON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 6 -
8
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
63,311
3,944,400
Other debtors
1,154,569
1,697,182
1,217,880
5,641,582

Amounts owed by group undertakings are repayable on demand and interest free.

Amounts owed by related parties and included in other debtors are repayable on demand and details are included in Note 11.

9
Creditors: amounts falling due within one year
2025
2024
£
£
Amounts owed to group undertakings
996,982
2,891,955
Amounts owed to related parties
-
0
8,383,336
Corporation tax
45,805
-
0
Other taxation and social security
615
808
Accruals and deferred income
3,500
3,500
1,046,902
11,279,599

Amounts owed to group undertakings are repayable on demand and interest is charged at 3.5% above the Bank of England's base rate.

10
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of £1 each
200
200
200
200
11
Financial commitments, guarantees and contingent liabilities

The company, along with thirteen other companies, is a member of a VAT group. The group liability represents a contingent liability for the company as it provides a guarantee for the VAT group. The company had a VAT liability balance of £827 (2024 - £1,020) at the year end. The total group liability as at 31 May 2025 was £766,454 (2024 - £411,198).

116 CARDAMON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 7 -
12
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

FL 360 Limited

FL 360 Limited is a related party by virtue of common directorship and ultimate controlling ownership. At the year end there was an amount owed by FL 360 Limited of £230,638 (202 4 - £1,172,568 owed to FL 360 Limited). This amount is interest free.

Dr Rajnish Luthra

An amount of £723,455 (202 4 - £708,878) was due from Dr Luthra as at 31 May 202 5. Dr Ranjnish Lutha is the ultimate controlling party. The loan to Dr Luthra attracts interest at HMRC's official rate of interest. Interest of £14,577 (202 4 - £13,260) was charged in the year.

13
Controlling party

The ultimate controlling party is Dr Rajnish Luthra in virtue of his shareholding.

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