Registered number: 01650472
CALHURST LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 JUNE 2024
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CALHURST LIMITED
REGISTERED NUMBER: 01650472
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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CALHURST LIMITED
REGISTERED NUMBER: 01650472
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024
The director considers 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 director acknowledges his 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 17 March 2025.
The notes on pages 3 to 8 form part of these financial statements.
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CALHURST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Calhurst Limited is a private company limited by shares and registered in England and Wales. The address of its registered office is 124 Finchley Road, London, NW3 5JS.
2.Accounting policies
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Basis of preparation of financial statements
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The individual financial statements of Calhurst Limited have been prepared in compliance with United Kingdom accounting standards, including Section 1A Small Entities of Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
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:
Rental Income
Properties are rented to tenants on a monthly basis at a fixed monthly rate. The rental income receivable is recognised through the Statement of Income and Retained Earnings in the relevant accounting period to the monthly invoices. Rental income is measured at the fair value of consideration less value added taxes.
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.
Investment property is carried at the fair value of a beneficial interest in the property, being the market value of the property less the outstanding loan on it. No depreciation is provided. Changes in fair value are recognised in profit or loss.
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CALHURST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2.Accounting policies (continued)
Investments in related undertakings are measured at cost less accumulated impairment.
Investments in gold are measured at fair value. Changes in fair value are recognised through profit or loss. Fair value is estimated by using market commodity prices.
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.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
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.
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 Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Interest income is recognised in profit or loss using the effective interest method.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.
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CALHURST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
The average monthly number of employees, including directors, during the year was 1 (2023 - 1).
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Charge for the year on owned assets
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Investments in related undertakings
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CALHURST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Freehold investment property
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The 2024 valuations were made by the director , on an open market value for existing use basis.
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CALHURST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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The bank loan is secured by a charge over 10 Maryland Road. The Mortgage is interest only over 60 months from October 2021. Interest is fixed at 2.59% until 19 October 2026 and is payable monthly.
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The Company operates a defined contribution 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 £3,171 (2023: £3,171). Contributions totalling £nil (2023: £nil) were payable to the fund at the reporting date.
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CALHURST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Related party transactions
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At the reporting date, the director owed £255,936 (2023: £Nil) to the company. Interest of £2,330 (2023: £6,493) was charged on the overdrawn balance.
During the year, interest of £111,315 (2023: £111,315) and £44,568 (2023: £44,568) were received from New Parkgate Limited and Ahamvastu Limited respectively, which are entities under common control.
Other creditors and other debtors include amounts owed to related companies in which A Thrasyvoulou is either a director or has significant influence on the general running of the business. No formal arrangements exist for the repayment of these amounts which arise as balances are transferred to assist with the working capital requirements in each company.
As at 30 June 2024 the following amounts were due from / to each company.
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New World Hospitality UK Limited
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Arisco Properties Limited
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New Parkgate Limited (on Panzer wind up)
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