ACCOUNTS - Final Accounts

COMMITMENTS UNDER OPERATING LEASES

At 31 January 2026 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Registered number: 02829887

CADSPEC LTD

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2026

CADSPEC LTD

REGISTERED NUMBER:02829887

STATEMENT OF FINANCIAL POSITION

AS AT 31 JANUARY 2026

	2026	2025
Note	£	£

FIXED ASSETS
Intangible assets	4	104,520	130,650
Tangible assets	5	75,437	66,773
		179,957	197,423
CURRENT ASSETS
Debtors: amounts falling due within one year	6	1,347,862	2,284,571
Cash at bank and in hand		1,208,379	2,623,378
		2,556,241	4,907,949
Creditors: amounts falling due within one year	7	(2,007,001)	(2,889,202)
NET CURRENT ASSETS		549,240	2,018,747
TOTAL ASSETS LESS CURRENT LIABILITIES		729,197	2,216,170
PROVISIONS FOR LIABILITIES
Deferred tax	8	(18,589)	(17,690)
NET ASSETS		710,608	2,198,480

CAPITAL AND RESERVES
Called up share capital	9	20,000	20,000
Profit and loss account	10	690,608	2,178,480
		710,608	2,198,480

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

J S Marsh

Director

Date: 29 October 2026

The notes on pages 2 to 8 form part of these financial statements.

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CADSPEC LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

1.	GENERAL INFORMATION

Cadspec Ltd is a private company, limited by shares, incorporated in the UK and registered in England and Wales. The registered office and trading address is Haycroft Works, Buckholt Drive, Warndon Industrial Estate, Worcester, WR4 9ND.

The principal activity of the company continued to be that of an Autodesk Value Added Reseller and the provision of CAD sales, support and training for Architectural, Civil and Mechanical sectors. In addition to which, the company also provides technical advice, network systems, computer hardware and data management services.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

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 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 cover the individual company only. They are presented in Sterling and rounded to the nearest £1.

The following principal accounting policies have been applied:

2.2

GOING CONCERN

The directors have reviewed budgets and forecasts for a period of at least 12 months from approval of these financial statements. It is considered that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

2.3

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

The company generates revenue through a combination of principal software licence sales and agency arrangements with software vendors. The majority of revenue is currently derived from agency arrangements under which the company recognises only the commission or margin earned as revenue.

2.4

OPERATING LEASES: THE COMPANY AS LESSEE

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

2.5

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

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CADSPEC LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.ACCOUNTING POLICIES (CONTINUED)

2.6

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

2.7

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.8

INTANGIBLE ASSETS

GOODWILL

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

Amortiation is provided on the following basis:

Goodwill - 10 years straight line

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CADSPEC LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.ACCOUNTING POLICIES (CONTINUED)

2.9

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings

15%

reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.11

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.12

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.13

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.14

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

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CADSPEC LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

EMPLOYEES

The average monthly number of employees, including directors, during the year was 23 (2025: 22).

4.	INTANGIBLE ASSETS

		Goodwill
		£

	At 1 February 2025	261,300
	At 31 January 2026	261,300

	At 1 February 2025	130,650
	Charge for the year	26,130
	At 31 January 2026	156,780
	NET BOOK VALUE
	At 31 January 2026	104,520
	At 31 January 2025	130,650

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CADSPEC LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

5.	TANGIBLE FIXED ASSETS

		Fixtures and fittings
		£
	COST
	At 1 February 2025	83,425
	Additions	21,976
	At 31 January 2026	105,401
	DEPRECIATION
	At 1 February 2025	16,652
	Charge for the year	13,312
	At 31 January 2026	29,964
	NET BOOK VALUE
	At 31 January 2026	75,437
	At 31 January 2025	66,773

DEBTORS

					2026	2025
					£	£


Trade debtors	769,146	505,991
Amounts owed by group undertakings	177,500	1,454,698
Other debtors	2,129	1,973
Prepayments and accrued income	392,559	321,909
Tax recoverable	6,528	-
	1,347,862	2,284,571

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CADSPEC LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

7.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2026	2025
		£	£

Trade creditors	681,079	490,785
Amounts owed to group undertakings	148,516	58,639
Corporation tax	-	51,669
Other taxation and social security	59,589	48,431
Accruals and deferred income	1,117,817	2,239,678
	2,007,001	2,889,202

8.	DEFERRED TAXATION

		2026
		£

	At beginning of year	(17,690)
	Charged to profit or loss	(899)
	AT END OF YEAR	(18,589)

The provision for deferred taxation is made up as follows:
	2026	2025
	£	£

	Accelerated capital allowances	(18,589)	(17,690)
		(18,589)	(17,690)

9.	SHARE CAPITAL
		2026	2025
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

20,000 (2025: 20,000) Ordinary shares of £1.00 each	20,000	20,000

10.

RESERVES

Profit and loss account

Profit and loss account includes all current and prior period retained profits and losses.

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CADSPEC LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

11.	PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £42,269 (2025: £38,431). Contributions totalling £Nil (2025: £Nil) were payable to the fund at the reporting date.

Not later than 1 year	10,215	11,181
Later than 1 year and not later than 5 years	1,345	6,179
	11,560	17,360

13.	RELATED PARTY TRANSACTIONS
	The company has taken the exemption under FRS 102 33.1A from disclosing transactions with wholly owned group companies.

14.	CONTROLLING PARTY

At 31 January 2026, the company was controlled by its parent undertaking Stanford Marsh Group Holdings Limited. The ultimate controlling party was considered to be Mr C S Marsh by virtue of his shareholding in Stanford Marsh Group Holdings Limited.

Copies of the consolidated financial statements prepared by Stanford Marsh Group Holdings Limited for the year ending 31 January 2026 can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.

15.	AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 January 2026 was unqualified.

The audit report was signed on 29 October 2026 by Richard Newton LLB FCA (Senior Statutory Auditor) on behalf of Bishop Fleming Audit Limited.

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