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Registration number: 05079972

Calcott Hall Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2023

 

Calcott Hall Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 10

 

Calcott Hall Limited

Company Information

Directors

JE McTurk

P J McTurk

A McTurk

Mr Stuart A McTurk

D Hunt

Company secretary

JE McTurk

Registered office

Calcott Hall Farm
Ongar Road
Brentwood
Essex
CM15 9HS

Accountants

Parry & Co Chartered Accountants
Suite 123 Waterhouse Business Centre
Cromar Way
Chelmsford
Essex
CM1 2QE

 

Calcott Hall Limited

(Registration number: 05079972)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

12,500

25,000

Tangible assets

5

116,663

98,810

 

129,163

123,810

Current assets

 

Stocks

6

76,003

50,384

Debtors

7

99,464

78,749

Cash at bank and in hand

 

745,055

720,020

 

920,522

849,153

Prepayments and accrued income

 

24,846

10,791

Creditors: Amounts falling due within one year

(323,900)

(300,887)

Net current assets

 

621,468

559,057

Total assets less current liabilities

 

750,631

682,867

Provisions for liabilities

(27,691)

(18,774)

Net assets

 

722,940

664,093

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

721,940

663,093

Shareholders' funds

 

722,940

664,093

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Calcott Hall Limited

(Registration number: 05079972)
Abridged Balance Sheet as at 31 March 2023

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 5 October 2023 and signed on its behalf by:
 

.........................................
P J McTurk
Director

 

Calcott Hall Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Calcott Hall Farm
Ongar Road
Brentwood
Essex
CM15 9HS

These financial statements were authorised for issue by the Board on 5 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Calcott Hall Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

5% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Calcott Hall Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Calcott Hall Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 38 (2022 - 38).

 

Calcott Hall Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

4

Intangible assets

Total
£

Cost or valuation

At 1 April 2022

250,000

At 31 March 2023

250,000

Amortisation

At 1 April 2022

225,000

Amortisation charge

12,500

At 31 March 2023

237,500

Carrying amount

At 31 March 2023

12,500

At 31 March 2022

25,000

5

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

369,749

4,809

7,500

382,058

Additions

33,455

-

-

33,455

At 31 March 2023

403,204

4,809

7,500

415,513

Depreciation

At 1 April 2022

277,650

2,739

2,859

283,248

Charge for the year

14,367

29

1,206

15,602

At 31 March 2023

292,017

2,768

4,065

298,850

Carrying amount

At 31 March 2023

111,187

2,041

3,435

116,663

At 31 March 2022

92,099

2,070

4,641

98,810

6

Stocks

2023
£

2022
£

Other inventories

76,003

50,384

 

Calcott Hall Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

7

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

         

9

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £240.00 (2022 - £358.00) per each Ordinary shares

 

240,000

 

358,000

         

10

Related party transactions

 

Calcott Hall Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

134,835

130,972

Contributions paid to money purchase schemes

24,116

38,616

158,951

169,588