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REGISTERED NUMBER: 08378658 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2023

FOR

CALLOW ENTERPRISES LTD

CALLOW ENTERPRISES LTD (REGISTERED NUMBER: 08378658)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


CALLOW ENTERPRISES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







Director: P Boyman





Secretary: Mrs E Ball





Registered office: Skylon House
Unit 3 Munitions Close
Skylon Park
Hereford
HR2 6FN





Registered number: 08378658 (England and Wales)

CALLOW ENTERPRISES LTD (REGISTERED NUMBER: 08378658)

BALANCE SHEET
31ST DECEMBER 2023

31.12.23 31.12.22
Notes £ £ £ £
Fixed assets
Tangible assets 4 2,596,751 2,697,677
Investments 5 878,455 1,798,426
3,475,206 4,496,103

Current assets
Debtors 6 14,241 20,600
Cash at bank and in hand 1,024,330 343,492
1,038,571 364,092
Creditors
Amounts falling due within one year 7 916,220 882,333
Net current assets/(liabilities) 122,351 (518,241 )
Total assets less current liabilities 3,597,557 3,977,862

Creditors
Amounts falling due after more than one
year

8

(20,833

)

(30,833

)

Provisions for liabilities 10 (23,300 ) (23,100 )
Net assets 3,553,424 3,923,929

CALLOW ENTERPRISES LTD (REGISTERED NUMBER: 08378658)

BALANCE SHEET - continued
31ST DECEMBER 2023

31.12.23 31.12.22
Notes £ £ £ £
Capital and reserves
Called up share capital 11 320 160
Share premium 9,980 9,980
Retained earnings 3,543,124 3,913,789
Shareholders' funds 3,553,424 3,923,929

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30th August 2024 and were signed by:





P Boyman - Director


CALLOW ENTERPRISES LTD (REGISTERED NUMBER: 08378658)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. Statutory information

Callow Enterprises Ltd 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.

Preparation of consolidated financial statements
The financial statements contain information about Callow Enterprises Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Tangible fixed assets
Tangible fixed assets are stated in the Balance Sheet at cost less depreciation.
Depreciation is provided to write off the cost of fixed assets over their estimated useful lives at the following rates:

Buildings 2% & 4% straight line
Land0%
Fixtures & fittings20% reducing balance
Computer equipment35% reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


CALLOW ENTERPRISES LTD (REGISTERED NUMBER: 08378658)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 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.

Pension costs & 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.

Fixed asset investments
The purpose of share for share exchange was to bring in ActicareUK Limited as a 100% subsidiary of the company as part of the incorporation of the Acticare business.

CALLOW ENTERPRISES LTD (REGISTERED NUMBER: 08378658)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all of the risks and rewards of the ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.




CALLOW ENTERPRISES LTD (REGISTERED NUMBER: 08378658)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. Accounting policies - continued

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducing all of its liabilities.
Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans, loans from fellow group companies and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

3. Employees (including officers)

The average number of employees during the year was 8 (2022 - 6 ) .

4. Tangible fixed assets
Land & Plant &
buildings equipment Totals
£ £ £
Cost
At 1st January 2023
and 31st December 2023 2,464,557 384,644 2,849,201
Depreciation
At 1st January 2023 66,652 84,872 151,524
Charge for year 35,804 65,122 100,926
At 31st December 2023 102,456 149,994 252,450
Net book value
At 31st December 2023 2,362,101 234,650 2,596,751
At 31st December 2022 2,397,905 299,772 2,697,677

The value of non-depreciable land included in freehold land and buildings is £762,000
(2022: £762,000).

CALLOW ENTERPRISES LTD (REGISTERED NUMBER: 08378658)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


5. Fixed asset investments

31.12.23 31.12.22
£ £
Shares in group undertakings 160 -
Other investments not loans 878,295 1,798,426
878,455 1,798,426

Additional information is as follows:
Shares in
group
undertakings
£
Cost
Additions 160
At 31st December 2023 160
Net book value
At 31st December 2023 160

Investments (neither listed nor unlisted) were as follows:
31.12.23 31.12.22
£ £
Brought forward 1,798,426 2,136,329
Profit share for year 533,167 643,821
Profits drawn down (1,453,298 ) (981,724 )
878,295 1,798,426

The company was a partner in Active Rehab Equipment LLP until the year end.
At this point, ActicareUK Limited became a subsidiary of Callow Enterprises Ltd and the assets and liabilities of Active Rehab Equipment LLP were transferred to the new subsidiary. The trade of Active Rehab Equipment LLP is therefore being carried out by ActicareUK Limited from the start of 2024.

ActicareUK Limited
Registered office: Skylon House, Unit 3 Munitions Close, Skylon Park, Hereford, HR2 6FN.
Nature of business: Wholesale of care home products.

% holding
100
Period ended
02.01.24
£   
Aggregate capital & reserves 1,778,288

CALLOW ENTERPRISES LTD (REGISTERED NUMBER: 08378658)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


6. Debtors: amounts falling due within one year
31.12.23 31.12.22
£ £
Trade debtors 6,000 13,000
PAYE 641 -
Prepayments 7,600 7,600
14,241 20,600

7. Creditors: amounts falling due within one year
31.12.23 31.12.22
£ £
Bank loans (see note 9) 10,000 10,000
Trade creditors 2,873 -
Corporation tax 133,606 87,200
Social security & other tax 2,520 659
Accruals & other creditors 50,605 6,905
Director's loan account 716,616 777,569
916,220 882,333

8. Creditors: amounts falling due after more than one year
31.12.23 31.12.22
£ £
Bank loans (see note 9) 20,833 30,833

9. Loans

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£ £
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between two and five years:
Bank loans two to five years 20,833 30,833

10. Provisions for liabilities
31.12.23 31.12.22
£ £
Deferred tax 23,300 23,100

CALLOW ENTERPRISES LTD (REGISTERED NUMBER: 08378658)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


10. Provisions for liabilities - continued

Deferred tax
£
Balance at 1st January 2023 23,100
Provided during year 200
Balance at 31st December 2023 23,300

11. Called up share capital

Allotted, called up and fully paid shares

31.12.23 31.12.22
No. £    No. £
A shares of £1 each 102 102 51 51
B shares of £1 each 98 98 49 49
C shares of £1 each 40 40 20 20
D shares of £1 each 40 40 20 20
E shares of £1 each 40 40 20 20

320 320 160 160
The following shares were issued during the year in a share for share exchange:
A shares 51
B shares 49
C shares 20
D shares 20
E shares 20

The purpose of share for share exchange was to bring in ActicareUK Limited as a 100% subsidiary of the company as part of the incorporation of the Acticare business.

12. Contingent liabilities & lease commitments

There were no contingent liabilities or lease commitments at 31st December 2023.

13. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

CALLOW ENTERPRISES LTD (REGISTERED NUMBER: 08378658)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


13. Related party disclosures - continued

The Director

During the year, the director used a current account with the company to record amounts due to them and amounts drawn by them. The amounts owed by the company at the end of the year was £716,616 (2022: £777,569).
Interest is chargeable on the director's loan account at a commercial rate of 9% p.a. During the year, the interest charged was £49,353 (2022: £5,584).