Company Registration No. 11827848 (England and Wales)
Cordis Creative Limited
Unaudited accounts
for the year ended 31 March 2023
Cordis Creative Limited
Unaudited accounts
Contents
Cordis Creative Limited
Company Information
for the year ended 31 March 2023
Company Number
11827848 (England and Wales)
Registered Office
11-13 Riverside Road
Norwich
Norfolk
NR1 1SQ
United Kingdom
Cordis Creative Limited
Statement of financial position
as at 31 March 2023
Intangible assets
916
1,913
Cash at bank and in hand
(5,394)
(7,350)
Creditors: amounts falling due within one year
(182,751)
(158,816)
Net current liabilities
(172,398)
(147,650)
Net liabilities
(171,075)
(144,876)
Called up share capital
10
10
Profit and loss account
(171,085)
(144,886)
Shareholders' funds
(171,075)
(144,876)
For the year ending 31 March 2023 the company 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 December 2023 and were signed on its behalf by
Corin Thoday
Director
Company Registration No. 11827848
Cordis Creative Limited
Notes to the Accounts
for the year ended 31 March 2023
Cordis Creative Limited is a private company, limited by shares, registered in England and Wales, registration number 11827848. The registered office is 11-13 Riverside Road, Norwich, Norfolk, NR1 1SQ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
During the accounting period to 31 March 2023 the company made a loss of £26,199 (2022: £86,098).
At the year end the company owed a total of £159,480 (2022: £117,513) to Targetfollow Estates Ltd a company under common control. Targetfollow Estates Ltd continues to provide support to the company when requried.
Based on business plans and cashflows projections showing the company able to generate new revenue streams and profits, the Director is confident that it is appropriate to present the accounts on a going concern basis.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
Not depreciated
Computer equipment
50% Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Cordis Creative Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2022
1,100
3,547
4,647
At 31 March 2023
1,100
3,547
4,647
At 1 April 2022
576
3,210
3,786
Charge for the year
220
234
454
At 31 March 2023
796
3,444
4,240
At 31 March 2023
304
103
407
At 31 March 2022
524
337
861
Amounts falling due within one year
Trade debtors
12,945
15,714
Amounts falling due after more than one year
Accrued income and prepayments
2,802
2,802
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
7,877
4,162
Amounts owed to group undertakings and other participating interests
160,370
117,513
Cordis Creative Limited
Notes to the Accounts
for the year ended 31 March 2023
8
Transactions with related parties
Under section 33.1A of FRS 102 the Company is not obliged to disclose transaction between members of other group companies where group accounts are prepared.
During the period, fees of £34,016 (2022: £49,170) were charged to Targetfollow Estates Limited, a company in common control by shareholder A Naghshineh. At the end of the year, the company had an outstanding balances of £67 (2022: Nil) owed by Targetfollow Estates Limited. The company also holds a loan with Targetfollow Estates Limited. At the end of the year, the balance of the loan outstanding to Targetfollow Estates Limited was £159,480 (2022: £117,552).
During the period, fees of £629 (2022:£1,465).were charged to RCP Parking Limited a company where A Naghshineh is a director and shareholder. At the end of the year there was no outstanding balances (2022: £Nil) owed by RCP Parking Limited.
During the period, Fees of £2,340 ( 2022: £3,223) were charged to A. Naghshineh the ultimate controlling party. Charges of £12,000 ( 2022: £12,000) were charged to the company by A. Naghshineh. At the end of the year there was £3,000 (2022: £2,766) owed to A. Naghshineh.
The company is controlled by Targetfollow Group Limited and, in the opinion of the directors, this is the company's ultimate parent company. The ultimate controlling party is the director and shareholder of Targetfollow Group Limited, A Naghshineh.
The parent undertaking of the largest and smallest group for which consolidated accounts are prepared is Targetfollow Group Ltd. Consolidated accounts are available from Companies House.
10
Average number of employees
During the year the average number of employees was 5 (2022: 4).
