Registered number: 04051538
CONTENTS
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The Directors are pleased to report a satisfactory performance for the financial year to September 2025.
The business grew to a new income watermark of £19.3m which represents growth of 1.7%.
Investment continues in the development of an AI-enabled ecosystem that integrates with major insurers and partners to deliver personalised, proactive customer engagement supporting subscription-based models and continuously adapting to consumer needs.
The outlook remains focused on delivering a high-quality service to customers, progressing product development investment to support domestic and international opportunities whilst maintaining strong operational resilience. CDL’s investment in AI tools, training, and infrastructure, paired with its strong industry credentials, positions the company to lead insurance distribution and customer engagement into a new era of competitive advantage.
The business grew to a new income watermark of £19.3m which represents growth of 1.7%.
Investment continues in the development of an AI-enabled ecosystem that integrates with major insurers and partners to deliver personalised, proactive customer engagement supporting subscription-based models and continuously adapting to consumer needs.
The outlook remains focused on delivering a high-quality service to customers, progressing product development investment to support domestic and international opportunities whilst maintaining strong operational resilience. CDL’s investment in AI tools, training, and infrastructure, paired with its strong industry credentials, positions the company to lead insurance distribution and customer engagement into a new era of competitive advantage.
The management and reporting of risk and key performance indicators for CDL Production Services Limited, a wholly owned subsidiary, is carried out at group level. Information is therefore disclosed in the financial statements of the parent company, CDL Group Holdings Limited.
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STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The company's Section 172 compliance is considered at a group level.
Section 172 of the Companies Act 2006 states that a director of a company must act in the way it considers, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole. In doing so a director of a company must have regard to:
Section 172 of the Companies Act 2006 states that a director of a company must act in the way it considers, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole. In doing so a director of a company must have regard to:
∙The likely consequences of any decision in the long term;
∙The interests of the Group employees;
∙The need to foster the Group's business relationships with suppliers, customers and others;
∙The impact of the Group's operations on the community and the environment;
∙The desirability of the Group maintaining a reputation for high standards of business conduct and;
∙The need to act fairly as between members of the Group.
The Board reviewed their approach to corporate governance and decision making, engagement with stakeholders and the group's impact on the environment. The following summarises how the Group fulfils its duties under Section 172:
The Board have policies and procedures in place to ensure that decisions are made with relevant information and are approved in accordance with its constitution. Operational decisions are delegated through a management structure within a framework of reporting lines. The Board retains ultimate responsibility for strategy, financial performance, the management of risk and internal controls, health & safety and environmental concerns. The Board cultivates strong relationships with key stakeholders so that it is well placed and sufficiently informed to take their considerations into account when making decisions and in order to create long term value for them.
The employees are the Group's most valuable asset. The Directors are committed to treating employees fairly and respectfully and promoting the Group's values. The Directors are committed to ensuring the Group is an equal opportunities employer with a diverse workforce that is fair to its employee's on pay, benefits, health and safety at work and on the provision of training and personal development. Employee feedback is provided via an employee representation channel called Voice as well as regular surveys to gauge feelings and opinions. The Board uses the feedback to inform future new ways of working.
The delivery of excellence across all of the Group's business relationships is a key pillar within the corporate strategy. The Directors believe in lasting mutually beneficial relationships founded on a shared commitment to quality, value and service. In making decisions the Board considers outcomes from engagements with stakeholders as well as the importance of maintaining integrity and reputation. The Directors recognise the importance of protecting and enhancing the environment for the long term future and are committed to reducing the carbon footprint of the Group. Sustainability runs through a number of areas of the business from energy saving, recycling and resource sharing policies. The Directors encourage and promote action in the local community including charitable donations and initiatives to involve the workforce in providing assistance and support.
The Directors recognise that culture, values and standards are fundamental to how a Group creates and sustains value in the long term.
The Board have policies and procedures in place to ensure that decisions are made with relevant information and are approved in accordance with its constitution. Operational decisions are delegated through a management structure within a framework of reporting lines. The Board retains ultimate responsibility for strategy, financial performance, the management of risk and internal controls, health & safety and environmental concerns. The Board cultivates strong relationships with key stakeholders so that it is well placed and sufficiently informed to take their considerations into account when making decisions and in order to create long term value for them.
The employees are the Group's most valuable asset. The Directors are committed to treating employees fairly and respectfully and promoting the Group's values. The Directors are committed to ensuring the Group is an equal opportunities employer with a diverse workforce that is fair to its employee's on pay, benefits, health and safety at work and on the provision of training and personal development. Employee feedback is provided via an employee representation channel called Voice as well as regular surveys to gauge feelings and opinions. The Board uses the feedback to inform future new ways of working.
The delivery of excellence across all of the Group's business relationships is a key pillar within the corporate strategy. The Directors believe in lasting mutually beneficial relationships founded on a shared commitment to quality, value and service. In making decisions the Board considers outcomes from engagements with stakeholders as well as the importance of maintaining integrity and reputation. The Directors recognise the importance of protecting and enhancing the environment for the long term future and are committed to reducing the carbon footprint of the Group. Sustainability runs through a number of areas of the business from energy saving, recycling and resource sharing policies. The Directors encourage and promote action in the local community including charitable donations and initiatives to involve the workforce in providing assistance and support.
The Directors recognise that culture, values and standards are fundamental to how a Group creates and sustains value in the long term.
This report was approved by the board on 26 June 2026 and signed on its behalf.
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DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The directors present their report and the financial statements for the year ended 30 September 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £2,311,386 (2024 - £2,440,702).
The directors who served during the year were:
The auditors, Menzies LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
This report was approved by the board on 26 June 2026 and signed on its behalf.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CDL PRODUCTION SERVICES LIMITED
We have audited the financial statements of CDL Production Services Limited (the 'Company') for the year ended 30 September 2025, which comprise the Statement of income and retained earnings, the Statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CDL PRODUCTION SERVICES LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CDL PRODUCTION SERVICES LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙The Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation, and general regulations such as health and safety. We assessed the extent of compliance with the appropriate laws and regulations as part of our procedures on the related financial statement items.
∙We understood how the Company is complying with those legal and regulatory frameworks by, making inquiries to management and those responsible for legal and compliance procedures.
∙The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any issues in this area.
∙We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
°Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud.
°Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
°Challenging assumptions and judgments made by management in its significant accounting estimates; and
°Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.
∙As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:
°Posting of unusual journals and complex transactions;
°Misappropriation of funds through fraudulent purchase ledger;
°Manipulation of amounts subject to significant judgments or estimate.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CDL PRODUCTION SERVICES LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered accountants
Statutory auditor
One Express
1 George Leigh Street
M4 5DL
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STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 June 2026 .
The notes on pages 11 to 20 form part of these financial statements.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Strata House, Kings Reach Road, Stockport, Cheshire, SK4 2HD.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The Company's functional and presentation currency is GBP.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of CDL Group Holdings Limited as at 30 September 2025 and these financial statements may be obtained from Companies House.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Software development costs are recognised as an intangible assets when all of the following criteria are demonstrated :
Software development costs are recognised as an intangible assets when all of the following criteria are demonstrated :
°The technical feasibility of completing the software so that it will be available for use or sale.
°The intention to complete the software and use or sell it.
°The ability to use the software or to sell it.
°How the software will generate probable future economic benefits.
°The availability of adequate technical, financial and other resources to complete the development and to use or sell the software.
°The ability to measure reliably the expenditure attributable to the software during its development.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Software development costs - 7 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual
value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
Basic 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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Significant judgements
The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Analysis of turnover by country of destination:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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Profit and loss account
Page 19
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The directors regard CDL Group Holdings Limited, a company incorporated in England and Wales, as the ultimate parent company. CDL Group Holdings Limited prepare consolidated accounts which are publicly available from Companies House, Crown Way, Cardiff.
The ultimate controlling party of this company is considered to be M F Johnson who has control of the issued share capital of CDL Group Holdings Limited.
The ultimate controlling party of this company is considered to be M F Johnson who has control of the issued share capital of CDL Group Holdings Limited.
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