Company Registration No. 13800078 (England and Wales)
Calderbank Property Limited
Unaudited accounts
for the year ended 30 November 2023
Calderbank Property Limited
Unaudited accounts
Contents
Calderbank Property Limited
Company Information
for the year ended 30 November 2023
Directors
Henry Calderbank
Laura Calderbank
Company Number
13800078 (England and Wales)
Registered Office
10 Grove Farm Drive
Adlington
Chorley
Lancashire
PR6 9QS
England
Calderbank Property Limited
Statement of financial position
as at 30 November 2023
Investment property
100,299
100,299
Cash at bank and in hand
7,186
1,165
Creditors: amounts falling due within one year
(35,880)
(32,038)
Net current liabilities
(28,292)
(30,057)
Total assets less current liabilities
72,007
70,242
Creditors: amounts falling due after more than one year
(72,000)
(72,000)
Net assets/(liabilities)
7
(1,758)
Called up share capital
2
2
Profit and loss account
5
(1,760)
Shareholders' funds
7
(1,758)
For the year ending 30 November 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 directors acknowledge their 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 of Directors and authorised for issue on 20 March 2024 and were signed on its behalf by
Henry Calderbank
Director
Company Registration No. 13800078
Calderbank Property Limited
Notes to the Accounts
for the year ended 30 November 2023
Calderbank Property Limited is a private company, limited by shares, registered in England and Wales, registration number 13800078. The registered office is 10 Grove Farm Drive, Adlington , Chorley, Lancashire, PR6 9QS, England.
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, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.
The accounts are presented in sterling, which is the functional currency of the company.
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Taxation 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 or directly in equity.
Current and deferred taxation assets and liabilities are not discounted.
Current tax is recognised as the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Calderbank Property Limited
Notes to the Accounts
for the year ended 30 November 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 December 2022
100,299
At 30 November 2023
100,299
The fair value of the investment property has been determined by the directors of the company, on an open market value for an existing use basis. The company's investment property is held at the cost of addition as this is not deemed to be materially different to the open market value.
Amounts falling due within one year
Accrued income and prepayments
402
403
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
103
-
Loans from directors
35,777
32,038
Amounts owed to directors are unsecured, interest free and repayable on demand.
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans of £72,000, disclosed within creditors due after more than one year, are secured by a fixed charge over the specific property to which it relates. This loan has a fixed rate of interest until 8th June 2024 after which it will revert to a variable rate. The loan is repayable by 8th June 2055.
The loans are also secured by a personal guarantee from the directors.
8
Transactions with related parties
During the year dividends of £440 were declared and paid (2022: £Nil).
Calderbank Property Limited
Notes to the Accounts
for the year ended 30 November 2023
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).