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Registered number: 15048669










CALVER ARMS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2024

 
CALVER ARMS LIMITED
REGISTERED NUMBER: 15048669

BALANCE SHEET
AS AT 31 MAY 2024

2024
Note
£

Fixed assets
  

Tangible assets
 4 
61,090

Current assets
  

Stocks
  
11,190

Debtors: amounts falling due within one year
 5 
8,910

Cash at bank and in hand
  
30,331

  
50,431

Creditors: amounts falling due within one year
 6 
(168,125)

Net current (liabilities)/assets
  
 
 
(117,694)

Total assets less current liabilities
  
(56,604)

Provisions for liabilities
  

Deferred tax
 7 
(15,198)

Net (liabilities)/assets
  
(71,802)


Capital and reserves
  

Called up share capital 
  
10

Profit and loss account
  
(71,812)

  
(71,802)


Page 1

 
CALVER ARMS LIMITED
REGISTERED NUMBER: 15048669
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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 period 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 on 26 February 2025.




E R White
Director

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
CALVER ARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

1.


General information

Calver Arms Limited is a private Company limited by guarantee, incorporated in England and Wales (registered number: 15048669). Its registered office is Flint House Garage, Calver Slough, Hope Valley, S32 3XH. The company incorporated on 4 August 2023 and started trading from the 4 September 2023. Following this date, the principal activity of the Company throughout the year continued to be that of a Pub. 

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 Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company has net current liabilities at 31 May 2024 of £71,802. However, the financial statements have been prepared on a going concern basis as, in the opinion of the directors, the Compay's forcasted cashflows will enable it to trade and pay its debts as they fall due.

 
2.3

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
CALVER ARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.

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.

 
2.5

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20% reducing balance
Fixtures and fittings
-
20% reducing balance

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.

 
2.6

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 first in, first out 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.

Page 4

 
CALVER ARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.7

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of  financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
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.


3.


Employees

The average monthly number of employees, including directors, during the period was 11.


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


Additions
35,347
32,335
67,682



At 31 May 2024

35,347
32,335
67,682



Depreciation


Charge for the period on owned assets
4,581
2,011
6,592



At 31 May 2024

4,581
2,011
6,592



Net book value



At 31 May 2024
30,766
30,324
61,090

Page 5

 
CALVER ARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

5.


Debtors

2024
£


Trade debtors
519

Amounts owed by group undertakings
6,132

Prepayments and accrued income
2,259

8,910



6.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
27,874

Amounts owed to group undertakings
106,760

Other taxation and social security
11,495

Other creditors
17,430

Accruals and deferred income
4,566

168,125



7.


Deferred taxation



2024


£






Charged to profit or loss
15,198



At end of year
15,198

The deferred taxation balance is made up as follows:

2024
£


Accelerated capital allowances
15,273

Pension surplus
(75)

15,198

Page 6

 
CALVER ARMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

8.


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 £2,040. Contributions totalling £299 were payable to the fund at the balance sheet date and are included in creditors.


9.


Controlling party

The ultimate holding company of Calver Arms Limited is ET White & Sons Holdings Limited whose registered office is Flint House Garage, Calver Sough, Hope Valley, Derbyshire, S32 3XH. 
 
Page 7