1 31/10/2022 2022-10-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2021-11-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP NI044459 2021-11-01 2022-10-31 NI044459 2022-10-31 NI044459 2021-10-31 NI044459 2020-11-01 2021-10-31 NI044459 2021-10-31 NI044459 core:LandBuildings core:OwnedOrFreeholdAssets 2021-11-01 2022-10-31 NI044459 core:PlantMachinery 2021-11-01 2022-10-31 NI044459 core:MotorVehicles 2021-11-01 2022-10-31 NI044459 bus:Director1 2021-11-01 2022-10-31 NI044459 core:LandBuildings core:OwnedOrFreeholdAssets 2021-10-31 NI044459 core:PlantMachinery 2021-10-31 NI044459 core:MotorVehicles 2021-10-31 NI044459 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-31 NI044459 core:PlantMachinery 2022-10-31 NI044459 core:MotorVehicles 2022-10-31 NI044459 core:WithinOneYear 2022-10-31 NI044459 core:WithinOneYear 2021-10-31 NI044459 core:ShareCapital 2022-10-31 NI044459 core:ShareCapital 2021-10-31 NI044459 core:RetainedEarningsAccumulatedLosses 2022-10-31 NI044459 core:RetainedEarningsAccumulatedLosses 2021-10-31 NI044459 core:LandBuildings core:OwnedOrFreeholdAssets 2021-10-31 NI044459 core:PlantMachinery 2021-10-31 NI044459 core:MotorVehicles 2021-10-31 NI044459 bus:SmallEntities 2021-11-01 2022-10-31 NI044459 bus:AuditExemptWithAccountantsReport 2021-11-01 2022-10-31 NI044459 bus:FullAccounts 2021-11-01 2022-10-31 NI044459 bus:SmallCompaniesRegimeForAccounts 2021-11-01 2022-10-31 NI044459 bus:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31
Company registration number: NI044459
Callender Street Properties (No.1) Limited
Trading as Callender Street Properties (No.1) limited
Unaudited filleted financial statements
31 October 2022
EF McCambridge & Co
Chartered Accountants, Chartered Tax Advisors
&
Registered Auditors
6 Bayview Terrace
Derry
BT48 7EE
Callender Street Properties (No.1) Limited
Statement of financial position
31 October 2022
2022 2021
Note £ £ £ £
Fixed assets
Tangible assets 5 224,777 220,827
_______ _______
224,777 220,827
Current assets
Stocks 24,000 44,000
Debtors 6 9,066 -
Cash at bank and in hand 14,447 125,070
_______ _______
47,513 169,070
Creditors: amounts falling due
within one year 7 ( 71) ( 94,879)
_______ _______
Net current assets 47,442 74,191
_______ _______
Total assets less current liabilities 272,219 295,018
_______ _______
Net assets 272,219 295,018
_______ _______
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account 262,219 285,018
_______ _______
Shareholders funds 272,219 295,018
_______ _______
For the year ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These 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 Section 1A of 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 statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 04 October 2023 , and are signed on behalf of the board by:
Mr James McCullough
Director
Company registration number: NI044459
Callender Street Properties (No.1) Limited
Notes to the financial statements
Year ended 31 October 2022
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Callender Street Properties (No.1) Limited, 17 Raceview Manor, Broughshane, Ballymena, Co Antrim, BT42 4BB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
No material uncertainties that cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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 are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:
Freehold property - 2 % straight line
Plant and machinery - 15 % reducing balance
Motor vehicles - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).
5. Tangible assets
Freehold property Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 November 2021 200,359 35,410 21,835 257,604
Additions 11,866 - - 11,866
_______ _______ _______ _______
At 31 October 2022 212,225 35,410 21,835 269,470
_______ _______ _______ _______
Depreciation
At 1 November 2021 4,007 29,495 3,275 36,777
Charge for the year 4,245 887 2,784 7,916
_______ _______ _______ _______
At 31 October 2022 8,252 30,382 6,059 44,693
_______ _______ _______ _______
Carrying amount
At 31 October 2022 203,973 5,028 15,776 224,777
_______ _______ _______ _______
At 31 October 2021 196,352 5,915 18,560 220,827
_______ _______ _______ _______
6. Debtors
2022 2021
£ £
Other debtors 9,066 -
_______ _______
7. Creditors: amounts falling due within one year
2022 2021
£ £
Bank loans and overdrafts 32 657
Social security and other taxes 39 9
Other creditors - 94,213
_______ _______
71 94,879
_______ _______