Computer Aided Development Corporation L - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01955756 (England and Wales)

COMPUTER AIDED DEVELOPMENT CORPORATION

LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2017

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

7

DIRECTORS:

T G Armstrong

M P Daly

M P McGarry

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

Tangible assets

5

12,893

37,356

CURRENT ASSETS

Stocks

5,564

5,497

Debtors

6

2,745,532

2,667,560

Cash at bank and in hand

667,726

439,702

3,418,822

3,112,759

CREDITORS

Amounts falling due within one year

7

(1,018,118

)

(951,138

)

NET CURRENT ASSETS

2,400,704

2,161,621

TOTAL ASSETS LESS CURRENT LIABILITIES

2,413,597

2,198,977

CAPITAL AND RESERVES

Called up share capital

9

229,339

229,339

Share premium

130,920

130,920

Retained earnings

2,053,338

1,838,718

SHAREHOLDERS' FUNDS

2,413,597

2,198,977

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 31st October 2017 and were signed on its behalf by:

T G Armstrong - Director

M P Daly - 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.

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared 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.

Turnover

Turnover represents the total invoice value, excluding value added tax, trade discounts and all other

taxes of sales made during the year.

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

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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 profit or loss 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 profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

Cost

At 1st July 2016

178,785

Additions

13,118

Disposals

(97,900

)

At 30th June 2017

94,003

Depreciation

At 1st July 2016

141,429

Charge for year

37,581

Eliminated on disposal

(97,900

)

At 30th June 2017

81,110

Net book value

At 30th June 2017

12,893

At 30th June 2016

37,356

6.

DEBTORS

2017

2016

£

£

Amounts falling due within one year:

Trade debtors

494,520

612,201

Amounts owed by group undertakings

597,687

313,222

Other debtors

93,325

182,137

1,185,532

1,107,560

Amounts falling due after more than one year:

Amounts owed by group undertakings

1,560,000

1,560,000

Aggregate amounts

2,745,532

2,667,560

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

29,726

21,608

Taxation and social security

155,704

147,426

Other creditors

832,688

782,104

1,018,118

951,138

Other companies within the group have entered into loan agreements with their bankers and private

lenders. These are secured by a fixed and floating charge over the assets and properties of Computer

Aided Development Corporation Limited.

8.	LEASING AGREEMENTS

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

2017

2016

£

£

Within one year

134,942

196,787

Between one and five years

72,583

93,427

207,525

290,214

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

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.

12.	FIRST YEAR ADOPTION

This is the first year that the company has presented its results in accordance with the provisions of

Section 1A "Small Entities" of Financial Reporting Standard 102. The last financial statements under

the provisions of UK GAAP were for the year ended 30th June 2016. The date of the transition

to Section 1A "Small Entities" of Financial Reporting Standard 102 was 1st July 2015. There has

been no effect on the financial statements arising from the transition from UK GAAP as previously

reported and Section 1A "Small Entities" of Financial Reporting Standard 102.