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Registered Number: 06298180


 

 

 

CALIBER FINANCIAL MANAGEMENT LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Report to the directors on the preparation of the unaudited statutory accounts of Caliber Financial Management Ltd for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Caliber Financial Management Ltd for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Caliber Financial Management Ltd, as a body, in accordance with the terms of our engagement letter dated 25th May 2018 Our work has been undertaken solely to prepare for your approval the accounts of Caliber Financial Management Ltd and state those matters that we have agreed to state to the Board of Directors of Caliber Financial Management Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Caliber Financial Management Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Caliber Financial Management Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Caliber Financial Management Ltd. You consider that Caliber Financial Management Ltd is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of Caliber Financial Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 March 2024



....................................................

Baranov Associates Ltd

4 Academy Close
Kirkby Stephen
Cumbria
CA17 4JG
03 September 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3   551 
  551 
Current assets      
Debtors: amounts falling due within one year 217,570    216,510 
Cash at bank and in hand 717,980    799,655 
935,550    1,016,165 
Creditors: amount falling due within one year (184,845)   (173,142)
Net current assets 750,705    843,023 
 
Total assets less current liabilities 750,705    843,574 
Provisions for liabilities   (105)
Net assets 750,705    843,469 
 

Capital and reserves
     
Called up share capital 4 990    990 
Capital Redemption Reserve 942    942 
Profit and loss account 748,773    841,537 
Shareholders' funds 750,705    843,469 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 03 September 2024 and were signed on its behalf by:


-------------------------------
Patrick McAneney
Director
2
General Information
Caliber Financial Management Ltd is a private company, limited by shares, registered in , registration number 06298180, registration address Unit 18 Harmill Industrial Estate, Grovebury Road, Leighton Buzzard, Bedfordshire, LU7 4FF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 20% Straight Line
Computer Equipment 33% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 14 (2023 : 14).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Land and Buildings   Total
  £   £   £
At 01 April 2023 11,896    43,142    55,038 
Additions    
Disposals    
At 31 March 2024 11,896    43,142    55,038 
Depreciation
At 01 April 2023 11,345    43,142    54,487 
Charge for year 551      551 
On disposals    
At 31 March 2024 11,896    43,142    55,038 
Net book values
Closing balance as at 31 March 2024    
Opening balance as at 01 April 2023 551      551 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
900 Ordinary shares of £1.00 each 900    900 
112 B Ordinary shares of £1.00 each 112    112 
820 C Ordinary shares of £1.00 each 820    820 
100 Ordinary E shares of £1.00 each 100    100 
1,932    1,932 

5.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
 2023
£
 2024
£
 2023
£
Caliber Financial Associates Limited1,550,112 1,544,584 145,230 99,957 

During the year the company's registration with the Financial Conduct Authority was regulated by Caliber Financial Associates Limited. Accordingly, commission and fee income was generated through that company. P McAneney is a Director and shareholder in both companies. G Lister-Thorn is a Director and shareholder of Caliber Financial Management Limited and a shareholder in Caliber Financial Associates Limited.
3