Company registration number 03481935 (England and Wales)
CALLOW MARSH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
CALLOW MARSH LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
CALLOW MARSH LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
5
25,000
25,000
Current assets
Debtors
6
78,339
79,070
Cash at bank and in hand
1,238
989
79,577
80,059
Creditors: amounts falling due within one year
7
(1,000)
(1,000)
Net current assets
78,577
79,059
Net assets
103,577
104,059
Capital and reserves
Called up share capital
1
1
Revaluation reserve
8
6,248
6,248
Profit and loss reserves
97,328
97,810
Total equity
103,577
104,059

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 25 July 2024 and are signed on its behalf by:
N R Jenkins
Director
Company Registration No. 03481935
CALLOW MARSH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Callow Marsh Limited is a private company limited by shares incorporated in England and Wales. The registered office is Five Acres Garage, Lower Lane, Five Acres, Coleford, Gloucestershire, United Kingdom, GL16 7QN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.

1.2
Going concern

During the financial year ended 31 December 2020, the trade and assets of Callow Marsh Limited were sold. The company has ceased to trade. Consequently, the company no longer meets the definition of a going concern as set out in FRS 102 paragraph 3.8true

 

The directors have reviewed the carrying value of all assets and liabilities. Where, in the opinion of the directors, the net book value differs from the carrying value an adjustment has been posted to reflect this. As a result, in the opinion of the directors all assets and liabilities are presented at their current carrying value and there would be no material impact of the financial statements being prepared on the going concern basis, or an alternative basis. Consequently, no further adjustments have been made to the company's profit and loss account or balance sheet to reflect the fact the company is no longer considered a going concern.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% on cost / valuation

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

CALLOW MARSH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

CALLOW MARSH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Property valuation

In preparing these financial statements, the directors have exercised judgement in determining the valuation of the property. The directors take comfort that the valuation in the financial statements is materially correct as it is based upon a professional valuation.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
4
Other gains and losses
2023
2022
£
£
Group loan forgiven
-
53,544
CALLOW MARSH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
5
Tangible fixed assets
Freehold land and buildings
£
Cost or valuation
At 1 January 2023 and 31 December 2023
25,000
Depreciation and impairment
At 1 January 2023 and 31 December 2023
-
0
Carrying amount
At 31 December 2023
25,000
At 31 December 2022
25,000

 

Revaluation

 

If revalued assets were stated on a historical cost basis rather than a fair value basis, the total amounts included would have been as follows:

2023
2022
£
£
Cost
18,752
18,752
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
716
Amounts owed by group undertakings
78,339
75,339
Other debtors
-
0
3,015
78,339
79,070
7
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
1,000
1,000
CALLOW MARSH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
8
Revaluation reserve
2023
2022
£
£
At the beginning and end of the year
6,248
6,248
9
Financial commitments, guarantees and contingent liabilities

The company is party to a group bank security arrangement under an unlimited debenture and is jointly and severally liable for any bank liability arising in other group companies. At the balance sheet date, the amount guaranteed on behalf of other group entities was £33,238 (2022 - £19,262).

10
Parent company

The company's immediate and ultimate parent company is Jenkins Group Holdings Limited whose registered office address is Five Acres Garage, Lower Lane, Five Acres, Coleford, Gloucestershire, GL16 7QN

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