Computer Aided Development Corporation L - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 01955756 (England and Wales)

COMPUTER AIDED DEVELOPMENT CORPORATION

LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2022

Page

Company information

1

Statement of financial position

2

Notes to the financial statements

3

to

6

Directors:

T G Armstrong

M P Daly

G Randle

Secretary:

T G Armstrong

Registered office:

Sterling Court

Norton Road

Stevenage

Hertfordshire

SG1 2JY

Registered number:

01955756 (England and Wales)

Auditors:

Wags LLP t/a Wagstaffs

Chartered Accountants and Statutory Auditors

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

FIXED ASSETS

Property, plant and equipment

5

20,046

13,475

CURRENT ASSETS

Inventories

2,400

2,584

Debtors

6

660,233

543,351

Cash at bank and in hand

1,963,719

1,545,424

2,626,352

2,091,359

CREDITORS

Amounts falling due within one year

7

(1,623,645

)

(1,555,951

)

NET CURRENT ASSETS

1,002,707

535,408

TOTAL ASSETS LESS CURRENT LIABILITIES

1,022,753

548,883

CAPITAL AND RESERVES

Called up share capital

9

229,339

229,339

Share premium

130,920

130,920

Retained earnings

662,494

188,624

SHAREHOLDERS' FUNDS

1,022,753

548,883

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

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th November 2022 and were signed on its behalf by:

T G Armstrong - Director

1.	STATUTORY INFORMATION

Computer Aided Development Corporation Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared on a going concern basis and under the historical cost convention.

Significant judgements and estimates

No significant judgements or estimates have had to be made by the directors in preparing these financial statements.

Revenue

Revenue represents the total invoice value, excluding value added tax, trade discounts and all other taxes of sales made during the year.

Revenue recognition

Income from ongoing support contracts is spread over the life of the contract according to the level of costs expected to be incurred as the contract is performed.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - 50% on cost and 25% on cost

Inventories

Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Tax

Tax for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred tax assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2021 - 31 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

Cost

At 1st July 2021

70,575

Additions

25,548

Disposals

(18,905

)

At 30th June 2022

77,218

Depreciation

At 1st July 2021

57,100

Charge for year

18,977

Eliminated on disposal

(18,905

)

At 30th June 2022

57,172

Net book value

At 30th June 2022

20,046

At 30th June 2021

13,475

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

595,394

437,831

Amounts owed by group undertakings

-

30,000

Other debtors

64,839

75,520

660,233

543,351

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

36,109

27,664

Corporation tax

-

45,573

Social security and other taxes

45,563

43,585

VAT

89,504

172,797

Other creditors

237,469

190,332

Deferred income

1,215,000

1,076,000

1,623,645

1,555,951

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2022

2021

£

£

Within one year

87,682

94,763

Between one and five years

28,102

34,421

115,784

129,184

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

4,586,780

Ordinary

0.05

229,339

229,339

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the auditors was unqualified.

N Savjani (Senior Statutory Auditor)

for and on behalf of Wags LLP t/a Wagstaffs

11.	ULTIMATE CONTROLLING PARTY

MBO Holdings Limited is the parent company by virtue of owning 78% of the issued share capital. MBO Holdings Limited is a company registered in England and Wales. The registered office is Sterling Court, Norton Road, Stevenage, Hertfordshire, SG1 2JY.