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REGISTERED NUMBER: 02543794 (England and Wales)















CALLDENE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






CALLDENE LIMITED (REGISTERED NUMBER: 02543794)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


CALLDENE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr A G Stead
Mr M J P Bacon



REGISTERED OFFICE: Building 1063
Cornforth Drive
Kent Science Park
Sittingbourne
Kent
ME9 8PX



BUSINESS ADDRESS: 150 Minories
Suite 302
LONDON
EC3N 1LS



REGISTERED NUMBER: 02543794 (England and Wales)



SENIOR STATUTORY AUDITOR: Ashley Phillips FCCA



AUDITORS: McCabe Ford Williams
Statutory Auditors and Chartered Accountants
Building 1063
Cornforth Drive
Kent Science Park
SITTINGBOURNE
Kent
ME9 8PX

CALLDENE LIMITED (REGISTERED NUMBER: 02543794)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,138,272 1,043,564
Investments 6 143,185 436,465
1,281,457 1,480,029

CURRENT ASSETS
Debtors 7 - 7,842
Investments 8 1,014,113 -
Cash at bank 103,812 277,878
1,117,925 285,720
CREDITORS
Amounts falling due within one year 9 846,141 364,896
NET CURRENT ASSETS/(LIABILITIES) 271,784 (79,176 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,553,241

1,400,853

CREDITORS
Amounts falling due after more than one
year

10

33,796

100,405
NET ASSETS 1,519,445 1,300,448

CAPITAL AND RESERVES
Called up share capital 12 15,000 15,000
Retained earnings 1,504,445 1,285,448
SHAREHOLDERS' FUNDS 1,519,445 1,300,448

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 November 2024 and were signed on its behalf by:




Mr A G Stead - Director


CALLDENE LIMITED (REGISTERED NUMBER: 02543794)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Calldene Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Calldene Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Hardwood Limited, Shelvin Manor, Shelvin, Wootton, Canterbury, Kent, CT4 6RL.

Related party exemption
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.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered 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 to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.

Income
Income is derived from rents received and is recognised in accordance with the period to which the income relates.

CALLDENE LIMITED (REGISTERED NUMBER: 02543794)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Investment property which is rented to another group entity is accounted for as property, plant and equipment and by applying the cost model in accordance with the option afforded by s.16.4A of FRS 102.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost and land not provided for

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

CALLDENE LIMITED (REGISTERED NUMBER: 02543794)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets
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 profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position 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.

CALLDENE LIMITED (REGISTERED NUMBER: 02543794)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit and loss.

Going concern
The directors have assessed the major risks to which the company is exposed and assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date of approval of the financial statements.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

5. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 April 2023 1,246,603
Additions 111,768
At 31 March 2024 1,358,371
DEPRECIATION
At 1 April 2023 203,039
Charge for year 17,060
At 31 March 2024 220,099
NET BOOK VALUE
At 31 March 2024 1,138,272
At 31 March 2023 1,043,564

Included in cost of land and buildings is freehold land of £ 505,377 (2023 - £ 393,609 ) which is not depreciated.

The company is applying the accounting policy choice afforded by Section 16.4A of FRS 102 which allows investment properties rented to another group entity to be accounted for as property, plant and equipment under the cost model.

CALLDENE LIMITED (REGISTERED NUMBER: 02543794)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 April 2023 436,465 - 436,465
Dividends received - (293,280 ) (293,280 )
At 31 March 2024 436,465 (293,280 ) 143,185
NET BOOK VALUE
At 31 March 2024 436,465 (293,280 ) 143,185
At 31 March 2023 436,465 - 436,465

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors - 7,842

8. CURRENT ASSET INVESTMENTS
31.3.24 31.3.23
£    £   
Unlisted investments 1,014,113 -

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and mortgage 66,366 66,366
Amounts owed to group undertakings 774,000 293,280
Accruals and deferred income 5,775 5,250
846,141 364,896

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 9,808 9,808
Mortgage - 1-2 years 14,200 56,800
Bank loans - 2-5 years 9,784 19,593
Mortgage - 2-5 years - 14,200
Amounts owed to group undertakings 4 4
33,796 100,405

CALLDENE LIMITED (REGISTERED NUMBER: 02543794)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

11. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 100,158 166,767

There is a legal mortgage in favour of National Westminster Bank Plc over Unit A, Commerce Way Industrial Estate, Lancing to secure amounts due to the bank.

There is also a fixed charge in favour of the bank over assets of the company and rents receivable from any lease granted out of the property.

There is a separate fixed and floating charge over assets of the company in favour of the bank in relation to any amounts due on the overdraft facility. At 31 March 2024 the overdraft facility was not in use.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
15,000 Ordinary £1 15,000 15,000

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ashley Phillips FCCA (Senior Statutory Auditor)
for and on behalf of McCabe Ford Williams

14. PARENT COMPANY AND ULTIMATE PARENT COMPANY

Hardwood Limited is both the parent company as well as the ultimate parent company.