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REGISTERED NUMBER: 07647487 (England and Wales)















CALLOW RETAIL LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






CALLOW RETAIL LTD (REGISTERED NUMBER: 07647487)






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




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


CALLOW RETAIL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: S Frances
Mrs P Frances





REGISTERED OFFICE: Unit 11 Stirlin Court
Saxilby Enterprise Park
Skellingthorpe Road
Lincoln
Lincolnshire
LN1 2LR





REGISTERED NUMBER: 07647487 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR

CALLOW RETAIL LTD (REGISTERED NUMBER: 07647487)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 96,209 80,334

CURRENT ASSETS
Stocks 248,170 315,240
Debtors 5 273,320 133,340
Cash at bank and in hand 315,045 216,966
836,535 665,546
CREDITORS
Amounts falling due within one year 6 519,388 388,633
NET CURRENT ASSETS 317,147 276,913
TOTAL ASSETS LESS CURRENT LIABILITIES 413,356 357,247

CREDITORS
Amounts falling due after more than one year 7 (11,805 ) (21,805 )

PROVISIONS FOR LIABILITIES (6,297 ) (990 )
NET ASSETS 395,254 334,452

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 395,154 334,352
SHAREHOLDERS' FUNDS 395,254 334,452

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CALLOW RETAIL LTD (REGISTERED NUMBER: 07647487)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2024


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 20 December 2024 and were signed on its behalf by:




S Frances - Director



Mrs P Frances - Director


CALLOW RETAIL LTD (REGISTERED NUMBER: 07647487)

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

1. STATUTORY INFORMATION

Callow Retail 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.

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


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of garden products is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on reducing balance, 33% on cost and 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

CALLOW RETAIL LTD (REGISTERED NUMBER: 07647487)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

Interest receivable
Interest income is recognised using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 70,643 65,897 136,540
Additions - 27,548 27,548
Disposals - (7,209 ) (7,209 )
At 31 May 2024 70,643 86,236 156,879
DEPRECIATION
At 1 June 2023 4,252 51,954 56,206
Charge for year 480 9,635 10,115
Eliminated on disposal - (5,651 ) (5,651 )
At 31 May 2024 4,732 55,938 60,670
NET BOOK VALUE
At 31 May 2024 65,911 30,298 96,209
At 31 May 2023 66,391 13,943 80,334

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 259,590 129,313
Other debtors 13,730 4,027
273,320 133,340

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 10,000 10,695
Trade creditors 300,012 291,237
Taxation and social security 154,523 60,705
Other creditors 54,853 25,996
519,388 388,633

CALLOW RETAIL LTD (REGISTERED NUMBER: 07647487)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 11,805 21,805

8. LEASING AGREEMENTS
The company has minimum lease payments under non-cancellable leases due within one year of £19,000 (2023: £43,000), due between one and five years of £48,000 (2023: £73,500).

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Directors have a directors loan account totalling £2,354 overdrawn brought forward (2023: £8,388 in credit). During the year, directors of the company borrowed £13,877 (2023: £36,061) from the company and repaid £4,048 (2023: £25,319). The balance at the end of the year totalled £12,183 overdrawn (2023: £2,354 overdrawn).