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Company registration number: 08875427







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2023


CALLINGTON UK LIMITED






































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CALLINGTON UK LIMITED
 


 
COMPANY INFORMATION


Director
N J Schoulal 




Registered number
08875427



Registered office
2nd Floor, Magna House
18-32 London Road

Staines-Upon-Thames

TW18 4BP




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

2nd Floor, Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


CALLINGTON UK LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 7

 


CALLINGTON UK LIMITED
REGISTERED NUMBER:08875427



STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Intangible assets
 4 
25,100
25,100

Tangible assets
 5 
2,292
1,627

  
27,392
26,727

Current assets
  

Stocks
  
115,569
153,431

Debtors: amounts falling due within one year
 6 
128,692
205,774

Cash at bank and in hand
  
60,686
104,227

  
304,947
463,432

Creditors: amounts falling due within one year
 7 
(355,696)
(528,790)

Net current liabilities
  
 
 
(50,749)
 
 
(65,358)

Net liabilities
  
(23,357)
(38,631)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(23,457)
(38,731)

  
(23,357)
(38,631)


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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N J Schoulal
Director

Date: 10 October 2023

The notes on pages 2 to 7 form part of these financial statements.
Page 1

 


CALLINGTON UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Callington UK Limited is a private company limited by shares and incorporated in England and Wales. The principal place of business is included on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

As at the year end, the company had a net liabilities position of £23,357 (2022: £38,631). 
The group is of the opinion that the global brand requires a presence in the UK market, with the main focus of the UK entity being to drive business into the group. As such Callington International Pty Ltd, the parent company, have committed to providing any ongoing support to Callington UK Limited needs to continue its operations. 
Callington International Pty Ltd remains confident in its position to support the company for the foreseeable future and the financial statements have therefore been prepared on a going concern basis. The financial statements do not reflect any adjustments that might result should the parent be unable to continue to support the UK entity.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised when the risk and rewards of aviation cleaning and hygiene products are transferred to the buyer upon delivery of the goods to the buyer.

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Development costs
-
To be amortised upon completion

The intangible asset is not ready for use as the regulation has not yet been granted to the entity. This item will allow for the sale of a product to the UK market if it is approved by HSE. Amortisation will begin once the asset is in operation.

Page 2

 


CALLINGTON UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
2 to 3 years
Office equipment
-
2 to 3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade debtors, trade creditors, other creditors, loans to related parties and investments in ordinary shares.

 
2.7

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.8

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 


CALLINGTON UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each reporting date, stocks are assessed for impairment. If stock is 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.


3.


Employees

The average monthly number of employees, including the Director, during the year was 3 (2022 - 2).


4.


Intangible assets




Development costs

£



Cost


At 1 July 2022
25,100



At 30 June 2023

25,100






Net book value



At 30 June 2023
25,100



At 30 June 2022
25,100



Page 4

 


CALLINGTON UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 July 2022
-
2,320
2,320


Additions
1,562
-
1,562



At 30 June 2023

1,562
2,320
3,882



Depreciation


At 1 July 2022
-
693
693


Charge for the year on owned assets
10
887
897



At 30 June 2023

10
1,580
1,590



Net book value



At 30 June 2023
1,552
740
2,292



At 30 June 2022
-
1,627
1,627

Page 5

 


CALLINGTON UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Debtors

2023
2022
£
£

Trade debtors
128,053
205,311

Amounts owed by group undertakings
-
100

Prepayments and accrued income
639
363

128,692
205,774



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
11,839
45,022

Amounts owed to group undertakings
299,300
361,811

Other taxation and social security
25,075
70,086

Other creditors
351
336

Accruals and deferred income
19,131
51,535

355,696
528,790



8.


Prior year restatement

There has been a prior year restatement to reallocate costs from cost of sales to administration expenses to present their true nature. This restatement has not resulted in a change to the profit for the year or net assets as at 30 June 2023.


9.


Commitments under operating leases

At 30 June 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
2,704
2,704

2,704
2,704


10.


Parent entity

The parent entity of the smallest group for which consolidated financial statements are drawn up is Callington International Pty Ltd, a private company limited by shares incorporated in Australia. The consolidated financial statements can be obtained at the Callington International Pty Ltd's principal place of business, being 30 South Street, Rydalmere, NSW Australia 2116.

Page 6

 


CALLINGTON UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

11.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2023 was unqualified.

The audit report was signed on 24 November 2023 by Paul Laxton FCCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 7