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REGISTERED NUMBER: 00359724 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

The Callaly Estates Company Limited

The Callaly Estates Company Limited (Registered number: 00359724)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Callaly Estates Company Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: A S R Bateson





REGISTERED OFFICE: Callaly Stables
Whittingham
Alnwick
Northumberland
NE66 4TA





REGISTERED NUMBER: 00359724 (England and Wales)





ACCOUNTANTS: Douglas Home & Co Ltd
Chartered Accountants
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

The Callaly Estates Company Limited (Registered number: 00359724)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 24,122 31,215
Property, plant and equipment 5 15,899,394 15,421,575
Investments 6 1,842,023 1,730,892
Investment property 7 14,972,254 14,972,254
32,737,793 32,155,936

CURRENT ASSETS
Inventories 662,451 1,035,306
Debtors 8 121,499 166,157
Cash at bank 1,752 936,293
785,702 2,137,756
CREDITORS
Amounts falling due within one year 9 842,851 1,298,490
NET CURRENT (LIABILITIES)/ASSETS (57,149 ) 839,266
TOTAL ASSETS LESS CURRENT
LIABILITIES

32,680,644

32,995,202

CREDITORS
Amounts falling due after more than one
year

10

(1,874,593

)

(1,862,271

)

PROVISIONS FOR LIABILITIES (4,314,927 ) (4,109,390 )
NET ASSETS 26,491,124 27,023,541

CAPITAL AND RESERVES
Called up share capital 32,503 32,503
Revaluation reserve 12 4,132,405 4,132,405
Capital redemption reserve 32,500 32,500
Other reserves 172,883 172,883
Retained earnings 22,120,833 22,653,250
26,491,124 27,023,541

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The Callaly Estates Company Limited (Registered number: 00359724)

Balance Sheet - continued
31 October 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 April 2024 and were signed by:





A S R Bateson - Director


The Callaly Estates Company Limited (Registered number: 00359724)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

The Callaly Estates Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Entitlements are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold buildings - Straight line over 25 years
Plant and machinery - 15% on reducing balance
Fixtures and fittings - Straight line over 10 years
Motor vehicles - 25% on reducing balance
Tractors - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
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 income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


The Callaly Estates Company Limited (Registered number: 00359724)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2022
and 31 October 2023 70,938
AMORTISATION
At 1 November 2022 39,723
Charge for year 7,093
At 31 October 2023 46,816
NET BOOK VALUE
At 31 October 2023 24,122
At 31 October 2022 31,215

The Callaly Estates Company Limited (Registered number: 00359724)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. PROPERTY, PLANT AND EQUIPMENT
Improvements
Freehold to Plant and
buildings property machinery
£    £    £   
COST OR VALUATION
At 1 November 2022 14,195,846 - 1,067,301
Additions - 314,356 523,586
Disposals - - (352,582 )
At 31 October 2023 14,195,846 314,356 1,238,305
DEPRECIATION
At 1 November 2022 - - 327,982
Charge for year - - 129,963
Eliminated on disposal - - (102,982 )
At 31 October 2023 - - 354,963
NET BOOK VALUE
At 31 October 2023 14,195,846 314,356 883,342
At 31 October 2022 14,195,846 - 739,319

Fixtures
and Motor
fittings vehicles Tractors Totals
£    £    £    £   
COST OR VALUATION
At 1 November 2022 8,550 57,715 587,827 15,917,239
Additions - 118,024 - 955,966
Disposals - (10,766 ) - (363,348 )
At 31 October 2023 8,550 164,973 587,827 16,509,857
DEPRECIATION
At 1 November 2022 8,550 40,845 118,287 495,664
Charge for year - 25,254 70,432 225,649
Eliminated on disposal - (7,868 ) - (110,850 )
At 31 October 2023 8,550 58,231 188,719 610,463
NET BOOK VALUE
At 31 October 2023 - 106,742 399,108 15,899,394
At 31 October 2022 - 16,870 469,540 15,421,575

The Callaly Estates Company Limited (Registered number: 00359724)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. PROPERTY, PLANT AND EQUIPMENT - continued

Cost or valuation at 31 October 2023 is represented by:

Improvements
Freehold to Plant and
buildings property machinery
£    £    £   
Valuation in 2022 3,717,293 - -
Cost 10,478,553 314,356 1,238,305
14,195,846 314,356 1,238,305

Fixtures
and Motor
fittings vehicles Tractors Totals
£    £    £    £   
Valuation in 2022 - - - 3,717,293
Cost 8,550 164,973 587,827 12,792,564
8,550 164,973 587,827 16,509,857

The fair value of the freehold buildings is based on the valuations undertaken by Savills PLC in April 2022.

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 November 2022 1,730,892
Additions 153,806
Disposals (42,675 )
At 31 October 2023 1,842,023
NET BOOK VALUE
At 31 October 2023 1,842,023
At 31 October 2022 1,730,892

Cost or valuation at 31 October 2023 is represented by:

Other
investments
£   
Valuation in 2023 266,180
Cost 1,575,843
1,842,023

The Callaly Estates Company Limited (Registered number: 00359724)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 14,972,254
NET BOOK VALUE
At 31 October 2023 14,972,254
At 31 October 2022 14,972,254

The fair value of the investment property is based on the valuations undertaken by Savills PLC in April 2022.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 11,685 4,087
Other debtors 14,642 17,142
VAT 64,131 110,169
Prepayments 31,041 34,759
121,499 166,157

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 136,864 158,832
Trade creditors 61,917 80,388
Social security and other taxes 4,038 4,457
Other creditors 20,000 -
Directors' current accounts 584,307 1,021,587
Deferred income 10,374 33,226
Accrued expenses 25,351 -
842,851 1,298,490

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 1,800,000 1,800,000
Hire purchase contracts 74,593 62,271
1,874,593 1,862,271

The Callaly Estates Company Limited (Registered number: 00359724)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

11. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Bank loans 1,800,000 1,800,000

The bank loan is secured by a fixed and floating charge over the assets of the company.

12. RESERVES
Revaluation
reserve
£   
At 1 November 2022
and 31 October 2023 4,132,405