CADENCE (EUROPE) LIMITED

CADENCE (EUROPE) LIMITED - Company Information

2019-01-012019-12-312019-12-31false05479323CADENCE (EUROPE) LIMITED2020-04-0147640iso4217:GBPxbrli:pure054793232019-01-01054793232019-12-31054793232019-01-012019-12-31054793232018-01-01054793232018-12-31054793232018-01-012018-12-3105479323bus:SmallEntities2019-01-012019-12-3105479323bus:AuditExempt-NoAccountantsReport2019-01-012019-12-3105479323bus:AbridgedAccounts2019-01-012019-12-3105479323bus:PrivateLimitedCompanyLtd2019-01-012019-12-3105479323core:WithinOneYear2019-12-3105479323core:AfterOneYear2019-12-3105479323core:WithinOneYear2018-12-3105479323core:AfterOneYear2018-12-3105479323core:ShareCapital2019-12-3105479323core:SharePremium2019-12-3105479323core:RevaluationReserve2019-12-3105479323core:OtherReservesSubtotal2019-12-3105479323core:RetainedEarningsAccumulatedLosses2019-12-3105479323core:ShareCapital2018-12-3105479323core:SharePremium2018-12-3105479323core:RevaluationReserve2018-12-3105479323core:OtherReservesSubtotal2018-12-3105479323core:RetainedEarningsAccumulatedLosses2018-12-3105479323core:LandBuildings2019-12-3105479323core:PlantMachinery2019-12-3105479323core:Vehicles2019-12-3105479323core:FurnitureFittings2019-12-3105479323core:OfficeEquipment2019-12-3105479323core:NetGoodwill2019-12-3105479323core:IntangibleAssetsOtherThanGoodwill2019-12-3105479323core:ListedExchangeTraded2019-12-3105479323core:UnlistedNon-exchangeTraded2019-12-3105479323core:LandBuildings2018-12-3105479323core:PlantMachinery2018-12-3105479323core:Vehicles2018-12-3105479323core:FurnitureFittings2018-12-3105479323core:OfficeEquipment2018-12-3105479323core:NetGoodwill2018-12-3105479323core:IntangibleAssetsOtherThanGoodwill2018-12-3105479323core:ListedExchangeTraded2018-12-3105479323core:UnlistedNon-exchangeTraded2018-12-3105479323core:LandBuildings2019-01-012019-12-3105479323core:PlantMachinery2019-01-012019-12-3105479323core:Vehicles2019-01-012019-12-3105479323core:FurnitureFittings2019-01-012019-12-3105479323core:OfficeEquipment2019-01-012019-12-3105479323core:NetGoodwill2019-01-012019-12-3105479323core:IntangibleAssetsOtherThanGoodwill2019-01-012019-12-3105479323core:ListedExchangeTraded2019-01-012019-12-3105479323core:UnlistedNon-exchangeTraded2019-01-012019-12-3105479323core:AfterFiveYears2019-12-3105479323core:Non-currentFinancialInstruments2019-12-3105479323dpl:CostSales2019-01-012019-12-3105479323dpl:DistributionCosts2019-01-012019-12-3105479323dpl:AdministrativeExpenses2019-01-012019-12-3105479323core:LandBuildings2019-01-012019-12-3105479323core:PlantMachinery2019-01-012019-12-3105479323core:Vehicles2019-01-012019-12-3105479323core:FurnitureFittings2019-01-012019-12-3105479323core:OfficeEquipment2019-01-012019-12-3105479323dpl:GroupUndertakings2019-01-012019-12-3105479323dpl:ParticipatingInterests2019-01-012019-12-3105479323dpl:GroupUndertakingscore:ListedExchangeTraded2019-01-012019-12-3105479323core:ListedExchangeTraded2019-01-012019-12-3105479323dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2019-01-012019-12-3105479323core:UnlistedNon-exchangeTraded2019-01-012019-12-3105479323dpl:CostSales2018-01-012018-12-3105479323dpl:DistributionCosts2018-01-012018-12-3105479323dpl:AdministrativeExpenses2018-01-012018-12-3105479323core:LandBuildings2018-01-012018-12-3105479323core:PlantMachinery2018-01-012018-12-3105479323core:Vehicles2018-01-012018-12-3105479323core:FurnitureFittings2018-01-012018-12-3105479323core:OfficeEquipment2018-01-012018-12-3105479323dpl:GroupUndertakings2018-01-012018-12-3105479323dpl:ParticipatingInterests2018-01-012018-12-3105479323dpl:GroupUndertakingscore:ListedExchangeTraded2018-01-012018-12-3105479323core:ListedExchangeTraded2018-01-012018-12-3105479323dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2018-01-012018-12-3105479323core:UnlistedNon-exchangeTraded2018-01-012018-12-3105479323core:NetGoodwill2019-12-3105479323core:IntangibleAssetsOtherThanGoodwill2019-12-3105479323core:LandBuildings2019-12-3105479323core:PlantMachinery2019-12-3105479323core:Vehicles2019-12-3105479323core:FurnitureFittings2019-12-3105479323core:OfficeEquipment2019-12-3105479323core:AfterOneYear2019-12-3105479323core:WithinOneYear2019-12-3105479323core:ListedExchangeTraded2019-12-3105479323core:UnlistedNon-exchangeTraded2019-12-3105479323core:ShareCapital2019-12-3105479323core:SharePremium2019-12-3105479323core:RevaluationReserve2019-12-3105479323core:OtherReservesSubtotal2019-12-3105479323core:RetainedEarningsAccumulatedLosses2019-12-3105479323core:NetGoodwill2018-12-3105479323core:IntangibleAssetsOtherThanGoodwill2018-12-3105479323core:LandBuildings2018-12-3105479323core:PlantMachinery2018-12-3105479323core:Vehicles2018-12-3105479323core:FurnitureFittings2018-12-3105479323core:OfficeEquipment2018-12-3105479323core:AfterOneYear2018-12-3105479323core:WithinOneYear2018-12-3105479323core:ListedExchangeTraded2018-12-3105479323core:UnlistedNon-exchangeTraded2018-12-3105479323core:ShareCapital2018-12-3105479323core:SharePremium2018-12-3105479323core:RevaluationReserve2018-12-3105479323core:OtherReservesSubtotal2018-12-3105479323core:RetainedEarningsAccumulatedLosses2018-12-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Registered Number
05479323
(England and Wales)

Unaudited Financial Statements for the Year Ended
31 December 2019

CADENCE (EUROPE) LIMITED

Company Information


Registered Address	7 Henrietta Street
	London
	WC2E 8PS

CADENCE (EUROPE) LIMITED

Balance Sheet as at
31 December 2019

	Notes	2019 £	2018 £
Fixed Assets
Intangible assets	3	108,063	82,513
Tangible assets	4	126,908	197,036
Current Assets
Stocks		426,709	501,372
Debtors	6	167,956	144,299
Cash at bank and on hand		7,927	95,704
Creditors amounts falling due within one year	7	(531,459)	(911,464)
Net current assets (liabilities)		71,133	(170,089)
Total assets less current liabilities		306,104	109,460
Creditors amounts falling due after one year			(48,019)
Net assets		306,104	61,441
Capital and reserves
Called up share capital		169	154
Share premium		1,824,932	1,524,947
Profit and loss account		(1,518,997)	(1,463,660)
Shareholders' funds		306,104	61,441

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
The company is a private company limited by shares and was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts.

The financial statements were approved and authorised for issue by the Board of Directors on 1 April 2020, and are signed on its behalf by:

SCOTT, Barry Stephen
Director
Registered Company No. 05479323

CADENCE (EUROPE) LIMITED

Notes to the financial statements
for the year ended 31 December 2019

1.	COMPLIANCE WITH APPLICABLE REPORTING FRAMEWORK
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Turnover policy
	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 sale of goods and from the rendering of services.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Leasehold improvements are depreciated over the term of the lease. Depreciation is provided on all other tangible fixed assets as follows:

		Reducing balance (%)
	Plant and machinery	33
	Vehicles	10

	Intangible assets policy
	Intangible assets are depreciated over a useful life of 10 years.

	Inventories policy
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Foreign currency translation and operations policy
	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.

Foreign currency translation and operations policy

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.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

2.	EMPLOYEE INFORMATION
	The average number of employees during the year was as follows:

		2019		2018
	Number of employees	20		20

3.	INTANGIBLE ASSETS

		Total £
	Cost or valuation
	At 01 January 19	100,997
	additons	36,040
	At 31 December 19	137,037
	Amortisation and impairment
	At 01 January 19	18,484
	Charge for year	10,490
	At 31 December 19	(28,973)
	Net book value
	At 31 December 19	108,063
	At 31 December 18	82,513

4.	PROPERTY, PLANT AND EQUIPMENT

		Total £
	Cost or valuation
	At 01 January 19	656,352
	Additions	15,978
	At 31 December 19	661,674
	Depreciation and impairment
	At 01 January 19	459,316
	Charge for year	86,106
	At 31 December 19	534,766
	Net book value
	At 31 December 19	126,908
	At 31 December 18	197,036

5.	ADVANCES AND CREDITS TO DIRECTORS, INCLUDING TERMS AND INTEREST RATES

		Brought forward £		Amount advanced £		Amount repaid £		Carried forward £
	SCOTT, Barry Stephen	41,386				482		40,904
		41,386		0		482		40,904

6.	DEBTORS

	2019 £	2018 £
Other debtors	120,741	100,549
Prepayments and accrued income	47,215	43,750
Total	167,956	144,299

7.	CREDITORS WITHIN ONE YEAR

	2019 £	2018 £
Trade creditors / trade payables	201,936	328,361
Bank borrowings and overdrafts	52,765	105,505
Taxation and social security	37,681	99,265
Other creditors	239,077	378,333
Total	531,459	911,464