Cadell+Co Limited - Filleted accounts

Cadell+Co Limited
Registered number:		09431669
Balance Sheet
as at 31 December 2025
						as restated
Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		-			8,250
Tangible assets	4		397			530
Investments	5		116,450			116,450
			116,847			125,230

Current assets
Debtors	6	220,155			14,071
Cash at bank and in hand		879,631			306,620
		1,099,786			320,691

Creditors: amounts falling due within one year	7	(318,974)			(64,576)

Net current assets			780,812			256,115

Total assets less current liabilities			897,659			381,345


Net assets			897,659			381,345

Capital and reserves
Called up share capital			1,992			1,875
Profit and loss account			895,667			379,470

Shareholders' funds			897,659			381,345

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




R Bagnall-Smith
Director
Approved by the board on 17 August 2026

Cadell+Co Limited
Notes to the Accounts
for the year ended 31 December 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
	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.

	Turnover
	Turnover represents fees earned on the provision of business advice to customers on art investment. Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised when the service is provided and the price for the service can be determined.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery		25% reducing balance

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			3		3


3	Intangible fixed assets					£
	Goodwill:

	Cost
	At 1 January 2025					8,250
	At 31 December 2025					8,250

	Amortisation
	At 1 January 2025					-
	Provided during the year					8,250
	At 31 December 2025					8,250

	Net book value
	At 31 December 2025					-
	At 31 December 2024					8,250

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


4	Tangible fixed assets
				Plant and machinery		Total
£					£
	Cost
	At 1 January 2025			2,777		2,777
	At 31 December 2025			2,777		2,777

	Depreciation
	At 1 January 2025			2,247		2,247
	Charge for the year			133		133
	At 31 December 2025			2,380		2,380

	Net book value
	At 31 December 2025			397		397
	At 31 December 2024			530		530


5	Investments			as restated	as restated
Investments in
subsidiary
undertakings					Total
£					£
	Cost
	At 1 January 2025			116,450		116,450
	At 31 December 2025			116,450		116,450

	Details of the company's subsidiary undertaking at 31 December 2025 are as follows:
	Name of undertaking	Registered office	Class of shares held	% Held direct
	Cadell Inc	United States	Ordinary shares	100


6	Debtors					as restated
				2025		2024
£					£

	Trade debtors			170,317		4,602
	Amounts owed by group undertakings			-		9,049
	Other debtors			49,838		420
				220,155		14,071


7	Creditors: amounts falling due within one year			2025		2024
£					£

	Trade creditors			11,283		2,384
	Taxation and social security costs			302,894		19,900
	Other creditors			4,797		42,292
				318,974		64,576

8	Prior year adjustment
	The balance sheet has been restated to correct for the investment in a subsidary of £7 in 2022.

	Summary of prior year accounting impact					2024
£
	Increase in fixed asset investments					116,450
	Decrease in amounts owed by group undertakings					(116,450)
	Impact on reserves					-


9	Other information

	Cadell+Co Limited is a private company limited by shares and incorporated in England. Its registered office is:
	58 Sutherland Place
	London
	W2 5BY