Calimero Limited
Unaudited Financial Statements
For the year ended 31 July 2024
Pages for Filing with Registrar
Company Registration No. 14091132 (England and Wales)
Calimero Limited
Balance Sheet
As at 31 July 2024
Page 1
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
3
673,218
253,786
Tangible assets
4
15,853
28,782
Investments
5
84,840
100
773,911
282,668
Current assets
Debtors
7
2,376,855
1,130,424
Cash at bank and in hand
1,291,630
2,797,320
3,668,485
3,927,744
Creditors: amounts falling due within one year
8
(5,007,497)
(5,006,381)
Net current liabilities
(1,339,012)
(1,078,637)
Net liabilities
(565,101)
(795,969)
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
(565,201)
(796,069)
Total equity
(565,101)
(795,969)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Calimero Limited
Balance Sheet (Continued)
As at 31 July 2024
Page 2
The financial statements were approved by the board of directors and authorised for issue on 24 April 2025 and are signed on its behalf by:
S Fatic
Director
Company Registration No. 14091132
Calimero Limited
Notes to the Financial Statements
For the year ended 31 July 2024
Page 3
1
Accounting policies
Company information

Calimero Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.

1.1
Reporting period

The previous financial statements are presented for a period longer than one year, due to the company incorporating on 6 May 2022. Therefore, the comparative information (including the related notes) is not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £,

The financial statements have been prepared under the historical cost convention modified to include intangible assets at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.3
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Calimero Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2024
1
Accounting policies
(Continued)
Page 4
1.4
Cryptocurrency or digital assets

The company recognises crypto assets or tokens as an intangible asset under FRS102, as they are identifiable non-monetary assets without physical substance. The company recognises these assets when all the recognition criteria of Intangible assets are met, including:

 

 

The cryptocurrency or digital assets have been treated as indefinite life intangible assets as based on the current cryptocurrency market there is no foreseeable limit to the period over which the assets are expected to generate net cash inflows for the entity. Since crypto assets are indefinite life intangible assets they are not amortised. The useful life of the crypto assets and tokens are reviewed each reporting period to determine whether events and circumstances continue to support an indefinite useful life assessment for these assets.

 

The company has chosen to apply the cost model for cryptocurrency or digital assets, under which they are held at cost less any accumulated impairment. Where cryptocurrency or digital assets are not directly free for sale at the year end, the year end market price has been discounted up to the date of availability when considered by the directors when assessing the need cryptocurrency held for possible impairment.

At the end of each reporting period the company is required to assess whether there is any indication an asset may be impaired, if there is an indication that an asset may be impaired then the company will calculate the asset's recoverable amounts, which is the higher of the fair value less costs of disposal and the value in use. If the recoverable amount of a crypto token or asset is below the carrying amount an impairment loss will be recognised.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
33.33% straight line method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Calimero Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2024
1
Accounting policies
(Continued)
Page 5

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate and Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
Calimero Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2024
Page 6
3
Intangible fixed assets
Cryptocurrency and digital assets
£
Cost
At 1 August 2023
253,786
Revaluation
419,432
At 31 July 2024
673,218
Amortisation and impairment
At 1 August 2023 and 31 July 2024
-
0
Carrying amount
At 31 July 2024
673,218
At 31 July 2023
253,786
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023
40,773
Additions
916
At 31 July 2024
41,689
Depreciation and impairment
At 1 August 2023
11,991
Depreciation charged in the year
13,845
At 31 July 2024
25,836
Carrying amount
At 31 July 2024
15,853
At 31 July 2023
28,782
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
84,840
100
Calimero Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2024
5
Fixed asset investments
(Continued)
Page 7
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 August 2023
100
Additions
84,740
At 31 July 2024
84,840
Carrying amount
At 31 July 2024
84,840
At 31 July 2023
100
6
Subsidiaries

Details of the company's subsidiaries at 31 July 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Calimero Trading Ltd
England and Wales
Ordinary
100.00
Kalimera Consulting d.o.o.
Croatia
Ordinary
100.00
7
Debtors
2023
2024
as restated
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
2,372,045
1,127,503
Other debtors
4,185
2,921
Prepayments and accrued income
625
-
0
2,376,855
1,130,424
Calimero Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2024
Page 8
8
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
34
Other creditors
5,003,847
5,003,847
Accruals and deferred income
3,650
2,500
5,007,497
5,006,381
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £0.0001 each
1,000,000
1,000,000
100
100
11
Related party transactions

At the Balance Sheet date, included in other creditor the company owed £16,758 (2023: £16,758) to the company directors. This balance is interest free and payable on demand.

 

The company has taken the exemption in accordance with FRS 102 - section 33 "Related Party Disclosures", from disclosing related party transactions entered into between members of a group, provided that any subsidiary who is party to the transaction is wholly owned by such a member.

12
Prior period adjustment
Reconciliation of changes in equity
6 May
31 July
2022
2023
£
£
Adjustments to prior year
Group allocation of expenses
-
(380,438)
Equity as previously reported
-
(415,531)
Equity as adjusted
-
(795,969)
Analysis of the effect upon equity
Profit and loss reserves
-
(380,438)
Calimero Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2024
12
Prior period adjustment
(Continued)
Page 9
Reconciliation of changes in loss for the previous financial period
2023
£
Adjustments to prior year
Group allocation of expenses
(380,438)
Loss as previously reported
(415,631)
Loss as adjusted
(796,069)
Notes to reconciliation

There were group related costs of £380,438 which was misallocated to a fellow group undertaking in the previous financial statements. This has now been corrected and this will effect the Profit and Loss Account, Balance Sheet and note 8.

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