Cardinal Newark Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10756484

Cardinal Newark Limited

Filleted Unaudited Financial Statements

31 May 2025

Cardinal Newark Limited

Financial Statements

Year ended 31 May 2025

Contents	Page

Officers and professional advisers	1

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of income and retained earnings	3

Statement of financial position	4

Notes to the financial statements	6

Cardinal Newark Limited

Officers and Professional Advisers

The board of directors	Mr Vishal Sharma
	Mr Parminder Kundra

Registered office	167 Fleet Street
	London
	EC4A 2EA

Accountants	Ferguson Maidment & Co
	Chartered accountants
	8th Floor
	167 Fleet Street
	London
	EC4A 2EA

Bankers	Metro Bank Plc
	One Southampton Row
	London
	WC1B 5HA

Cardinal Newark Limited

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Cardinal Newark Limited

Year ended 31 May 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cardinal Newark Limited for the year ended 31 May 2025, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.

Ferguson Maidment & Co Chartered accountants

8th Floor 167 Fleet Street London EC4A 2EA

22 May 2026

Cardinal Newark Limited

Statement of Income and Retained Earnings

Year ended 31 May 2025

	2025	2024
Note	£	£

Administrative expenses	1,020	1,500
	-------	-------
Operating loss	( 1,020)	( 1,500)

	-------	-------
Loss before taxation	( 1,020)	( 1,500)

Tax on loss	–	–
	-------	-------
Loss for the financial year and total comprehensive income	( 1,020)	( 1,500)
	-------	-------

Retained earnings at the start of the year	88,378	89,878
	--------	--------
Retained earnings at the end of the year	87,358	88,378
	--------	--------

All the activities of the company are from continuing operations.

Cardinal Newark Limited

Statement of Financial Position

31 May 2025

	2025	2024
Note	£	£

Fixed assets

Investments	4	1	1

Current assets

Debtors	5	619,950	619,950
Cash at bank and in hand		422	422
		---------	---------
		620,372	620,372

Creditors: amounts falling due within one year	6	27,520	26,500
		---------	---------
Net current assets		592,852	593,872
		---------	---------
Total assets less current liabilities		592,853	593,873

Creditors: amounts falling due after more than one year	7	505,395	505,395
		---------	---------
Net assets		87,458	88,478
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	87,358	88,378
	--------	--------
Shareholders funds	87,458	88,478
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

Cardinal Newark Limited

Statement of Financial Position (continued)

31 May 2025

These financial statements were approved by the board of directors and authorised for issue on 22 May 2026 , and are signed on behalf of the board by:

Mr Vishal Sharma	Mr Parminder Kundra
Director	Director

Company registration number: 10756484

Cardinal Newark Limited

Notes to the Financial Statements

Year ended 31 May 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 167 Fleet Street, London, EC4A 2EA.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the company 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. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Investments

	Shares in group undertakings
	£
Cost
At 1 June 2024 and 31 May 2025	1
	----
Impairment
At 1 June 2024 and 31 May 2025	–
	----

Carrying amount
At 31 May 2025	1
	----
At 31 May 2024	1
	----

The above investment in group undertakings relates to 100% shares in VSPSK Ltd, a company incorporated in England & Wales.

For the year ended 31 July 2023, VSPSK Ltd had the following:

Profit after tax: £3,403

Net Assets: £3,404

5. Debtors

	2025	2024
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	619,950	619,950
	---------	---------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Accruals and deferred income	5,520	4,500
Corporation tax	22,000	22,000
	--------	--------
	27,520	26,500
	--------	--------

7. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	41,126	41,126
Director loan accounts	464,269	464,269
	---------	---------
	505,395	505,395
	---------	---------