CALDEIRA HOLDINGS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Company Registration No. 07102829 (England and Wales)
CALDEIRA HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
2
Statement of changes in equity
Notes to the financial statements
3 - 10
CALDEIRA HOLDINGS LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The director presents his annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activity of the company continued to be that of a holding company of the Caldeira group of companies and rental of investment property. The entities within the Caldeira Group include Caldeira Limited, Zhejiang Haosheng Textile Co Limited ("Caldeira China") and Caldeira USA Inc. ("Caldeira USA").

 

The principal activity of the group continued to be that of the manufacture, distribution and retail of soft furnishings.

Results and dividends

During the year, Caldeira Limited delivered a steady performance with sales of £5.776m and pre-tax profits of £0.705m.

Profits generated have once again been re-invested into the business and this has strengthened the company’s balance sheet by around £0.52m, post-tax.

 

Caldeira Holdings has continued to invest in its new headquarters at 29 Lees Road on the Knowsley Industrial Park with the additions of further green technology to reduce the group's carbon footprint.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Mr A Caldeira De Almeida
Auditor

DSG Audit were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr A Caldeira De Almeida
Director
2 June 2025
CALDEIRA HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
947,984
1,003,623
Investment property
5
1,655,993
1,655,993
Investments
6
51,000
51,000
2,654,977
2,710,616
Current assets
Debtors
8
54,167
76,027
Cash at bank and in hand
444
3,370
54,611
79,397
Creditors: amounts falling due within one year
9
(2,821,895)
(171,367)
Net current liabilities
(2,767,284)
(91,970)
Total assets less current liabilities
(112,307)
2,618,646
Creditors: amounts falling due after more than one year
10
(137,937)
(2,898,921)
Provisions for liabilities
(95,572)
(80,138)
Net liabilities
(345,816)
(360,413)
Capital and reserves
Called up share capital
12
51,000
51,000
Profit and loss reserves
(396,816)
(411,413)
Total equity
(345,816)
(360,413)

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

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

The financial statements were approved and signed by the director and authorised for issue on 2 June 2025
Mr A Caldeira De Almeida
Director
Company registration number 07102829 (England and Wales)
CALDEIRA HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Caldeira Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Cushion Factory, 29 Lees Road, Knowsley Industrial Park, Liverpool, L33 7SE.

1.1
Accounting convention

These financial statements have been prepared in accordance with 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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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. 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.

1.2
Going concern

Ttruehese financial statements have been prepared using the going concern basis of accounting notwithstanding the operating profit after tax of £102k and the net liabilities of £343k. The liabilities at the year end include an amount of £2.650m which is an intercompany loan due to the subsidiary company Caldeira Limited. The director confirms that Caldeira Limited will not recall the loan within the foreseeable future and will continue to offer financial support to it's parent company, Caldeira Holdings Limited.

 

In light of the above, the director has a reasonable expectation that the company has adequate resources to enable it to continue in operational existence for the foreseeable future. For these reasons, they continue to adopt the going concern basis in preparing the annual report and accounts. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.

1.3
Turnover

Turnover represents rents receivable during the period and is recognised on an accruals basis in accordance with the relevant tenancy agreement.

1.4
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:

Freehold land
Not depreciated
Solar Panels
10% straight line

Freehold land is not depreciated.

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.

CALDEIRA HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

 

Property rented to a group entity is accounted as tangible fixed assets.

Changes to the fair value of the investment properties will also affect the provision for deferred tax on the revaluation gains or losses. Increases or decreases in the provision form part of the taxation charge in the profit and loss account.

 

Investment properties are not depreciated, and this treatment is contrary to Companies Act 2006, which states fixed assets should be depreciated.

 

Notwithstanding this matter, the company has complied with applicable legislation. In the opinion of the director, the departure has been necessary to show a true and fair view of the company's financial position and performance. Depreciation or amortisation is only one of the many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

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.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.8
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.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

CALDEIRA HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

CALDEIRA HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be 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 in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2024
2023
Number
Number
Total
-
0
-
0
CALDEIRA HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
4
Tangible fixed assets
Freehold land
Solar Panels
Total
£
£
£
Cost
At 1 January 2024 and 31 December 2024
530,698
556,382
1,087,080
Depreciation and impairment
At 1 January 2024
-
0
83,457
83,457
Depreciation charged in the year
-
0
55,639
55,639
At 31 December 2024
-
0
139,096
139,096
Carrying amount
At 31 December 2024
530,698
417,286
947,984
At 31 December 2023
530,698
472,925
1,003,623
5
Investment property
2024
£
Fair value
At 1 January 2024 and 31 December 2024
1,655,993

Investment property relates to leasehold premises acquired on 2 December 2021 which is currently being held for investment purposes and is being rented out. Part of the property is being leased to Caldeira Limited, a subsidiary company of Caldeira Holdings Limited.

 

The fair value of the investment property had been arrived at on the basis of a valuation carried out at 31 December 2024 by the director and determined by reference to market evidence of transaction prices for similar properties

6
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
51,000
51,000
CALDEIRA HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
7
Subsidiaries

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

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Indirect
Caldeira Limited
UK
Manufacture of cushions, throws and associated products
Ordinary
100.00
-
Caldeira USA inc
USA
Sale and marketing of soft furnishings
Ordinary
0
100.00
Zhejiang Hao Sheng Textile Company
Limited
China
Soft furnishing manufacture
Ordinary
0
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Caldeira Limited
3,916,486
469,111
Caldeira USA inc
24,459
(80,592)
0
Zhejiang Hao Sheng Textile Company
Limited
(645,141)
0
48,186
8
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
54,167
76,027
9
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
15,236
42,219
Amounts owed to group undertakings
2,650,159
-
0
Corporation tax
39,417
-
0
Other taxation and social security
3,246
8,228
Other creditors
113,837
120,920
2,821,895
171,367

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

CALDEIRA HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
10
Creditors: amounts falling due after more than one year
2024
2023
£
£
Amounts owed to group undertakings
-
0
2,650,954
Other creditors
137,937
247,967
137,937
2,898,921
11
Loans and overdrafts
2024
2023
£
£
Other loans
248,074
358,175
Payable within one year
110,137
110,208
Payable after one year
137,937
247,967

The other borrowings with Alliance Fund Managers Limited of £248,074 (2023: £358,175) are secured by a fixed and floating charge over the company's assets.

 

12
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each of £1 each
51,000
51,000
51,000
51,000
13
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Andrew Moss BA FCA
Statutory Auditor:
DSG Audit
Date of audit report:
2 June 2025
CALDEIRA HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
14
Operating lease commitments
Lessor

The company owns an investment property for rental purposes. Part of the property is leased to the subsidiary and is a committed tenant for at least the next 5 years. The company has licenced out another small part of the property to an unconnected company. All operating lease contracts contain market review clauses in the event that the lessee exercises its option to renew. The lessee does not have an option to purchase the property at the expiry of the lease period.

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

2024
2023
£
£
426,213
476,000
15
Financial commitments, guarantees and contingent liabilities

There is an unlimited Cross Company Guarantee in place with HSBC to secure all liabilities across the Caldeira Group. The Cross Company Guarantee includes:

 

Caldeira Holdings Limited

Caldeira Limited

 

Total borrowings for the group are £111,549 (2023: £291,577).

 

There are other borrowings with Alliance Fund Managers Limited of £248,074 (2023: £358,175) which are secured by a fixed and floating charge over both company's assets. This loan is included in Caldeira Holdings Limited.

16
Related party transactions

The company has taken advantage of the disclosure exemptions to which it is entitled regarding transactions with its 100% owned subsidiaries.

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