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Registered number: 03064305
Calibre Construction Limited
Unaudited Financial Statements
For The Year Ended 31 July 2023
Shelvoke, Pickering, Janney LLP
Chartered Certified Accountants
57 - 61 Market Place
Cannock
Staffordshire
WS11 1BP
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03064305
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 80 120
Tangible Assets 5 14,688 15,909
14,768 16,029
CURRENT ASSETS
Debtors 6 31,602 72,188
Cash at bank and in hand 241,131 319,990
272,733 392,178
Creditors: Amounts Falling Due Within One Year 7 (36,947 ) (103,085 )
NET CURRENT ASSETS (LIABILITIES) 235,786 289,093
TOTAL ASSETS LESS CURRENT LIABILITIES 250,554 305,122
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,865 ) (3,023 )
NET ASSETS 247,689 302,099
CAPITAL AND RESERVES
Called up share capital 8 101 101
Profit and Loss Account 247,588 301,998
SHAREHOLDERS' FUNDS 247,689 302,099
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For the year ending 31 July 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr S J Miles
Director
4 March 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Calibre Construction Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03064305 . The registered office is 57-61 Market Place, Cannock, WS11 1BP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are licences. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 10% reducing balance
Computer Equipment 25% reducing balance
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: 5)
5 5
4. Intangible Assets
Other
£
Cost
As at 1 August 2022 399
As at 31 July 2023 399
Amortisation
As at 1 August 2022 279
Provided during the period 40
As at 31 July 2023 319
Net Book Value
As at 31 July 2023 80
As at 1 August 2022 120
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5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 August 2022 67,659
Additions 3,106
As at 31 July 2023 70,765
Depreciation
As at 1 August 2022 51,750
Provided during the period 4,327
As at 31 July 2023 56,077
Net Book Value
As at 31 July 2023 14,688
As at 1 August 2022 15,909
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 28,376 66,653
Other debtors 3,226 5,535
31,602 72,188
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 8,792 67,428
Other creditors 5,110 6,863
Taxation and social security 23,045 28,794
36,947 103,085
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 101 101
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9. Ultimate Controlling Party
The company's ultimate controlling party is Mr S Miles by virtue of his benefical ownership of 60% of the issued share capital in the company.
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