Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-318truetrue2023-02-01falsemanufacturing of plastic packaging materials8The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01402570 2023-02-01 2024-01-31 01402570 2022-02-01 2023-01-31 01402570 2024-01-31 01402570 2023-01-31 01402570 c:Director2 2023-02-01 2024-01-31 01402570 d:PlantMachinery 2023-02-01 2024-01-31 01402570 d:PlantMachinery 2024-01-31 01402570 d:PlantMachinery 2023-01-31 01402570 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01402570 d:MotorVehicles 2023-02-01 2024-01-31 01402570 d:MotorVehicles 2024-01-31 01402570 d:MotorVehicles 2023-01-31 01402570 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01402570 d:FurnitureFittings 2023-02-01 2024-01-31 01402570 d:FurnitureFittings 2024-01-31 01402570 d:FurnitureFittings 2023-01-31 01402570 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01402570 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01402570 d:Goodwill 2024-01-31 01402570 d:Goodwill 2023-01-31 01402570 d:CurrentFinancialInstruments 2024-01-31 01402570 d:CurrentFinancialInstruments 2023-01-31 01402570 d:Non-currentFinancialInstruments 2024-01-31 01402570 d:Non-currentFinancialInstruments 2023-01-31 01402570 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 01402570 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 01402570 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 01402570 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 01402570 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 01402570 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 01402570 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 01402570 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 01402570 d:ShareCapital 2024-01-31 01402570 d:ShareCapital 2023-01-31 01402570 d:RetainedEarningsAccumulatedLosses 2024-01-31 01402570 d:RetainedEarningsAccumulatedLosses 2023-01-31 01402570 c:FRS102 2023-02-01 2024-01-31 01402570 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 01402570 c:FullAccounts 2023-02-01 2024-01-31 01402570 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 01402570 d:HirePurchaseContracts d:WithinOneYear 2024-01-31 01402570 d:HirePurchaseContracts d:WithinOneYear 2023-01-31 01402570 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-01-31 01402570 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-01-31 01402570 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 01402570 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 01402570 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-01-31 01402570 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-31 01402570 d:LeasedAssetsHeldAsLessee 2024-01-31 01402570 d:LeasedAssetsHeldAsLessee 2023-01-31 iso4217:GBP xbrli:pure
Registered number: 01402570






CALLANCOTE LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










img1233.png

 
CALLANCOTE LIMITED
REGISTERED NUMBER:01402570

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
57,499
72,106

Investments
 6 
5,000
5,000

  
62,499
77,106

Current assets
  

Stocks
 7 
42,513
46,870

Debtors: amounts falling due within one year
 8 
147,804
176,074

Cash at bank and in hand
 9 
22,298
47,976

  
212,615
270,920

Creditors: amounts falling due within one year
 10 
(143,426)
(262,785)

Net current assets
  
 
 
69,189
 
 
8,135

Total assets less current liabilities
  
131,688
85,241

Creditors: amounts falling due after more than one year
 11 
(79,362)
(31,731)

Provisions for liabilities
  

Deferred tax
 14 
(10,924)
(13,700)

  
 
 
(10,924)
 
 
(13,700)

Net assets
  
41,402
39,810


Capital and reserves
  

Called up share capital 
  
50,000
50,000

Profit and loss account
  
(8,598)
(10,190)

  
41,402
39,810


Page 1

 
CALLANCOTE LIMITED
REGISTERED NUMBER:01402570
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D Moore
Director

Date: 8 October 2024

Page 2

 
CALLANCOTE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Callancote Limited is a company limited by shares, incorporated in England and Wales.  Its registered office is Phoenix House, Redhill Aerodrome, Kings Mill Lane, Redhill, Surrey RH1 5JY.
The principal activity of the company continued to be that of manufacturing of plastic packing materials.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
CALLANCOTE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
CALLANCOTE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery
-
10% straight line
Motor vehicles
-
20% straight line
Fixtures & fittings
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors 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.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
CALLANCOTE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.14

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

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 income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 8).

Page 6

 
CALLANCOTE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 February 2023
20,001



At 31 January 2024

20,001



Amortisation


At 1 February 2023
20,001



At 31 January 2024

20,001



Net book value



At 31 January 2024
-



At 31 January 2023
-



Page 7

 
CALLANCOTE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Tangible fixed assets





Plant & machinery
Motor vehicles
Fixtures & fittings
Total

£
£
£
£



Cost or valuation


At 1 February 2023
318,059
23,400
35,964
377,423


Additions
304
16,035
99
16,438


Disposals
-
(23,400)
-
(23,400)



At 31 January 2024

318,363
16,035
36,063
370,461



Depreciation


At 1 February 2023
259,832
10,140
35,346
305,318


Charge for the year on owned assets
14,248
3,207
329
17,784


Disposals
-
(10,140)
-
(10,140)



At 31 January 2024

274,080
3,207
35,675
312,962



Net book value



At 31 January 2024
44,283
12,828
388
57,499



At 31 January 2023
58,228
13,260
618
72,106

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
12,828
13,260

12,828
13,260


6.


Fixed asset investments





Trade investments

£





At 1 February 2023
5,000




Page 8

 
CALLANCOTE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Stocks

2024
2023
£
£

Raw materials and consumables
23,015
27,700

Work in progress (goods to be sold)
19,498
19,170

42,513
46,870



8.


Debtors

2024
2023
£
£


Trade debtors
116,948
144,827

Other debtors
17,506
17,081

Prepayments and accrued income
13,350
12,047

Tax recoverable
-
2,119

147,804
176,074



9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
22,298
47,976

22,298
47,976



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,166
9,915

Trade creditors
66,725
113,935

Other taxation and social security
24,418
25,969

Obligations under finance lease and hire purchase contracts
3,736
5,674

Other creditors
34,611
103,692

Accruals and deferred income
3,770
3,600

143,426
262,785


Page 9

 
CALLANCOTE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
13,952
24,115

Net obligations under finance leases and hire purchase contracts
10,433
7,616

Other creditors
54,977
-

79,362
31,731



12.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,166
9,915


10,166
9,915

Amounts falling due 1-2 years

Bank loans
10,419
10,163


10,419
10,163

Amounts falling due 2-5 years

Bank loans
3,533
13,952


3,533
13,952


24,118
34,030


Page 10

 
CALLANCOTE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

13.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
3,736
5,674

Between 1-5 years
10,433
7,618

14,169
13,292


14.


Deferred taxation




2024


£






At beginning of year
(13,700)


Charged to the profit or loss
2,776



At end of year
(10,924)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(10,924)
(13,700)

(10,924)
(13,700)


15.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £6,274 (2023: £1,583). Contributions totalling £603 (2023: £Nil) are payable to the fund at the balance sheet date.

 
Page 11