CAMBRIDGE DATA MANAGEMENT LIMITED Filleted accounts for Companies House (small and micro)

CAMBRIDGE DATA MANAGEMENT LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08518258

CAMBRIDGE DATA MANAGEMENT LIMITED

Filleted Unaudited Abridged Financial Statements

31 May 2018

CAMBRIDGE DATA MANAGEMENT LIMITED

Abridged Statement of Financial Position

31 May 2018

	2018	2017
Note	£	£

Fixed assets

Tangible assets	5	11,451	4,031

Current assets

Debtors	2,302,385	1,062,337
Cash at bank and in hand	303,722	729,347
	------------	------------
	2,606,107	1,791,684

Creditors: amounts falling due within one year	372,691	232,221
	------------	------------
Net current assets	2,233,416	1,559,463
	------------	------------
Total assets less current liabilities	2,244,867	1,563,494

Provisions	1,615	87
	------------	------------
Net assets	2,243,252	1,563,407
	------------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	2,243,152	1,563,307
	------------	------------
Shareholders funds	2,243,252	1,563,407
	------------	------------

These abridged 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 FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the year ending 31 May 2018 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 abridged 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 abridged financial statements .

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 May 2018 in accordance with Section 444(2A) of the Companies Act 2006.

CAMBRIDGE DATA MANAGEMENT LIMITED

Abridged Statement of Financial Position (continued)

31 May 2018

These abridged financial statements were approved by the board of directors and authorised for issue on 19 February 2019 , and are signed on behalf of the board by:

Mr D P Murphy	Ms S Sancho
Director	Director

Company registration number: 08518258

CAMBRIDGE DATA MANAGEMENT LIMITED

Notes to the Abridged Financial Statements

Year ended 31 May 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bedford Heights, Manton Lane, Bedford, MK41 7PH.

2. Statement of compliance

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

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date . Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference .

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	25% reducing balance
Equipment	-	33% straight line

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 .

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2017: 2 ).

5. Tangible assets

	£

Cost
At 1 June 2017	27,288
Additions	13,655
	--------
At 31 May 2018	40,943
	--------
Depreciation
At 1 June 2017	23,257
Charge for the year	6,235
	--------
At 31 May 2018	29,492
	--------
Carrying amount
At 31 May 2018	11,451
	--------
At 31 May 2017	4,031
	--------

6. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

2018
Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
£	£	£

Mr D P Murphy	617,611	71,791	689,402
Ms S Sancho	411,766	277,636	689,402
	------------	---------	------------
	1,029,377	349,427	1,378,804
	------------	---------	------------

2017
Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
£	£	£

Mr D P Murphy	( 672)	618,283	617,611
Ms S Sancho	–	411,766	411,766
	----	------------	------------
	( 672)	1,030,049	1,029,377
	----	------------	------------

The company provided loans to the directors during the year as above. The loans are repayable on demand and carry interest at a rate of 3.25% per annum . No other transactions are carried out with the directors other than the reimbursement of expenses and payment of dividends, if any.

7. Related party transactions

During the year the company charged a company controlled by the directors £ 891,100 (2017-£ 1,320,155 ) for contracting and management services. The sum outstanding at the 31st May 2018 amounted to £ 473,552 (2017-£ 142,126 ).

8. Controlling party

The company was under the control of the directors throughout the current and previous years as a result of their holding of 100% of the issued share capital of the company. All dividends are paid to the directors.