Caldey Island Estate Company Limited 01003248 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is the management of tourism and related retail sales on the Island of Caldey. Digita Accounts Production Advanced 6.30.9574.0 true true true 01003248 2023-02-01 2024-01-31 01003248 2024-01-31 01003248 bus:OrdinaryShareClass1 2024-01-31 01003248 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2024-01-31 01003248 core:CurrentFinancialInstruments 2024-01-31 01003248 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 01003248 core:Non-currentFinancialInstruments 2024-01-31 01003248 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 01003248 core:FurnitureFittings 2024-01-31 01003248 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-31 01003248 core:MotorVehicles 2024-01-31 01003248 core:OtherPropertyPlantEquipment 2024-01-31 01003248 core:DeferredTaxation 2024-01-31 01003248 bus:SmallEntities 2023-02-01 2024-01-31 01003248 bus:Audited 2023-02-01 2024-01-31 01003248 bus:FilletedAccounts 2023-02-01 2024-01-31 01003248 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 01003248 bus:RegisteredOffice 2023-02-01 2024-01-31 01003248 bus:Director1 2023-02-01 2024-01-31 01003248 bus:Director10 2023-02-01 2024-01-31 01003248 bus:Director6 2023-02-01 2024-01-31 01003248 bus:Director9 2023-02-01 2024-01-31 01003248 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 01003248 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 01003248 core:OtherMiscellaneousReserve 2023-02-01 2024-01-31 01003248 core:FurnitureFittings 2023-02-01 2024-01-31 01003248 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 01003248 core:LandBuildings 2023-02-01 2024-01-31 01003248 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01003248 core:MotorVehicles 2023-02-01 2024-01-31 01003248 core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 01003248 core:DeferredTaxation 2023-02-01 2024-01-31 01003248 core:ParentEntities 2023-02-01 2024-01-31 01003248 1 2023-02-01 2024-01-31 01003248 countries:AllCountries 2023-02-01 2024-01-31 01003248 2023-01-31 01003248 core:FurnitureFittings 2023-01-31 01003248 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 01003248 core:MotorVehicles 2023-01-31 01003248 core:OtherPropertyPlantEquipment 2023-01-31 01003248 core:DeferredTaxation 2023-01-31 01003248 2022-02-01 2023-01-31 01003248 2023-01-31 01003248 bus:OrdinaryShareClass1 2023-01-31 01003248 core:CurrentFinancialInstruments 2023-01-31 01003248 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 01003248 core:Non-currentFinancialInstruments 2023-01-31 01003248 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 01003248 core:FurnitureFittings 2023-01-31 01003248 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 01003248 core:MotorVehicles 2023-01-31 01003248 core:OtherPropertyPlantEquipment 2023-01-31 01003248 core:OtherMiscellaneousReserve 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Filleted
Registration number: 01003248

Caldey Island Estate Company Limited

Filleted Financial Statements

for the Year Ended 31 January 2024

 

Caldey Island Estate Company Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 10

 

Caldey Island Estate Company Limited

Company Information

Directors

Rt Rev J L Rossey, Abbot

Br M A Cestaro

Mr P A Kitchen

Miss M Battle

Registered office

Caldey Abbey
Caldey Island
Tenby
SA70 7UH

Auditors

HSJ Audit Limited
Statutory Auditors
Severn House
Hazell Drive
Newport
NP10 8FY

 

Caldey Island Estate Company Limited

(Registration number: 01003248)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

137,607

74,731

Other financial assets

6

97,674

97,674

 

235,281

172,405

Current assets

 

Stocks

7

20,257

15,888

Debtors

8

19,151

12,489

Cash at bank and in hand

 

26,153

143,814

 

65,561

172,191

Creditors: Amounts falling due within one year

9

(38,705)

(20,395)

Net current assets

 

26,856

151,796

Total assets less current liabilities

 

262,137

324,201

Creditors: Amounts falling due after more than one year

9

(92,110)

(92,110)

Provisions for liabilities

10

(11,259)

(13,513)

Net assets

 

158,768

218,578

Capital and reserves

 

Called up share capital

11

100

100

Other reserves

12

924

924

Retained earnings

157,744

217,554

Shareholders' funds

 

158,768

218,578

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 November 2024 and signed on its behalf by:
 

.........................................
Rt Rev J L Rossey, Abbot
Director

   
     
 

Caldey Island Estate Company Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Caldey Abbey
Caldey Island
Tenby
SA70 7UH

These financial statements were authorised for issue by the Board on 27 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 28 November 2024 was Mr Andrew Hill FCCA ACA DChA BFP, who signed for and on behalf of HSJ Audit Limited.

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

 

Caldey Island Estate Company Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold buildings

over 10 to 50 years

Fixtures and equipment

10%-33% reducing balance

Boats

10% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Caldey Island Estate Company Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the weighted average method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Caldey Island Estate Company Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 12).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

13,212

16,942

 

Caldey Island Estate Company Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

5

Tangible assets

Land and buildings
£

Fixtures and equipment
£

Motor vehicles
 £

Boats
£

Total
£

Cost or valuation

At 1 February 2023

87,977

263,875

-

140,938

492,790

Additions

-

630

74,501

1,300

76,431

At 31 January 2024

87,977

264,505

74,501

142,238

569,221

Depreciation

At 1 February 2023

83,700

227,034

-

107,325

418,059

Charge for the year

428

9,706

-

3,421

13,555

At 31 January 2024

84,128

236,740

-

110,746

431,614

Carrying amount

At 31 January 2024

3,849

27,765

74,501

31,492

137,607

At 31 January 2023

4,277

36,841

-

33,613

74,731

Included within the net book value of land and buildings above is £3,849 (2023 - £4,276) in respect of freehold land and buildings.
 

 

Caldey Island Estate Company Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 February 2023

97,674

97,674

At 31 January 2024

97,674

97,674

Impairment

Carrying amount

At 31 January 2024

97,674

97,674

7

Stocks

2024
£

2023
£

Other inventories

20,257

15,888

8

Debtors

Current

2024
£

2023
£

Trade debtors

3,200

479

Prepayments

9,561

7,871

Other debtors

6,390

4,139

 

19,151

12,489

 

Caldey Island Estate Company Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

13,611

6,175

Taxation and social security

 

1,778

979

Amounts owed to group undertakings and undertakings in which the company has a participating interest

 

12,036

-

Other creditors

 

11,280

7,071

Corporation tax liability

 

-

6,170

 

38,705

20,395

Due after one year

 

Loans and borrowings

13

92,110

92,110

 

92,110

92,110

Creditors: amounts falling due after more than one year

10

Provisions for liabilities

Deferred tax
£

Total
£

At 1 February 2023

13,513

13,513

Additional provisions

(2,254)

(2,254)

At 31 January 2024

11,259

11,259

11

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       
 

Caldey Island Estate Company Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

12

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Non-distributable reserve
£

Total
£

Surplus/deficit on revaluation of other assets

924

924

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Non-distributable reserve
£

Total
£

Surplus/deficit on revaluation of other assets

924

924

13

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

92,110

92,110

Other borrowings

Included in the loans and borrowings are the following amounts due after more than five years: £92,110 (2021: £92,110).

This loan is not repayable by instalments and is interest-free.

14

Related party transactions

Summary of transactions with parent

As at the balance sheet date, the Company owed its parent Caldey Abbey £12,036 (2023 : £Nil).
 

15

Parent and ultimate parent undertaking

The company's immediate parent is Caldey Abbey Community.