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Registered number: 08620017
Calcam Limited
Unaudited Financial Statements
For The Year Ended 31 July 2023
Devonports LAS Accountants Ltd
10 Station Court
Station Approach
Wickford
Essex
SS11 7AT
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 08620017
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 105,000 186,047
Investments 5 60 -
105,060 186,047
CURRENT ASSETS
Debtors 6 479,822 4,051
Cash at bank and in hand 184 209,921
480,006 213,972
Creditors: Amounts Falling Due Within One Year 7 (431,070 ) (278,291 )
NET CURRENT ASSETS (LIABILITIES) 48,936 (64,319 )
TOTAL ASSETS LESS CURRENT LIABILITIES 153,996 121,728
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,994 ) -
NET ASSETS 151,002 121,728
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement 150,902 121,628
SHAREHOLDERS' FUNDS 151,002 121,728
Page 1
Page 2
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Income Statement.
On behalf of the board
Mr Callum Campbell
Director
12/04/2024
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
Calcam Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08620017 . The registered office is 10 Station Court, Station Approach, Wickford, Essex, SS11 7AT.
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. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
2.4. Taxation
Corporation 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.
...CONTINUED
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2.4. Taxation - continued
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: NIL (2022: NIL)
- -
4. Investment Property
2023
£
Fair Value
As at 1 August 2022 186,047
Disposals (93,023 )
Fair value adjustments 11,976
As at 31 July 2023 105,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2023 2022
£ £
Cost 93,024 -
No formal valaution has been carried out on the investment properties, however the director has revalued the propertty based upon recent sales of equivalent properties at the same location.
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5. Investments
Subsidiaries
£
Cost
As at 1 August 2022 -
Additions 60
As at 31 July 2023 60
Provision
As at 1 August 2022 -
As at 31 July 2023 -
Net Book Value
As at 31 July 2023 60
As at 1 August 2022 -
The company acquired 66.66% of the issued share capital of 303 Development Ltd, a private company registered in England and Wales.
6. Debtors
2023 2022
£ £
Due within one year
Other debtors - 4,051
Due after more than one year
Amounts owed by group undertakings 479,822 -
479,822 4,051
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 425,563 277,112
Taxation and social security 5,507 1,179
431,070 278,291
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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9. Related Party Transactions
During the year the compoany receoived a loan from the director, Mr C S Campbell totalling £150,500. The amount due to the director at the balance sheet date is £424,123 (2022 £273,873.)
The company made loans to it's subsidiary, 303 Development Ltd  of £479,823.This amount is included within Debtors, due after one year.
10. Ultimate Controlling Party
The company's ultimate controlling party is Mr C S Campbell by virtue of his ownership of 100% of the issued share capital in the company.
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