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Registered number: 01568643


CALPEDA LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
CALPEDA LIMITED
REGISTERED NUMBER: 01568643

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
23,131
34,730

Tangible assets
 5 
2,352,424
2,524,301

Investments
 6 
86
86

  
2,375,641
2,559,117

Current assets
  

Stocks
  
587,412
554,689

Debtors
 7 
615,525
606,378

Cash at bank and in hand
 8 
453,826
275,736

  
1,656,763
1,436,803

Creditors: amounts falling due within one year
 9 
(988,413)
(721,064)

Net current assets
  
 
 
668,350
 
 
715,739

Total assets less current liabilities
  
3,043,991
3,274,856

Creditors: amounts falling due after more than one year
 10 
(112,699)
(148,221)

  

Net assets
  
2,931,292
3,126,635


Capital and reserves
  

Called up share capital 
 12 
100
100

Revaluation reserve
 13 
1,628,629
1,628,629

Profit and loss account
 13 
1,302,563
1,497,906

  
2,931,292
3,126,635


Page 1

 
CALPEDA LIMITED
REGISTERED NUMBER: 01568643
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

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 by: 




Mr D White
Mr E Urbani
Director
Director
Date: 23 May 2025

The notes on pages 3 to 17 form part of these financial statements.

Page 2

 
CALPEDA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Calpeda Limited is a private company, limited by shares, incorporated in the United Kingdom, The registered office is 8 Wedgewood Road, Bicester, Oxfordshire, OX26 4UL. 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The ultimate controlling party is Calpeda SPA, which is based in Italy. Calpeda Limited has healthy reserves and has confimed their  continued support of the parent company Calpeda SPA.

The Board of Directors of the Company is of the opinion that the accounts should be prepared on a
going concern basis.
 
 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
CALPEDA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Revenue

Turnover 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. Turnover 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:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover 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.

 
2.5

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
CALPEDA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

Pensions

Defined contribution pension plan

The Company contributes to 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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 5

 
CALPEDA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.11

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

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.

 The estimated useful lives range as follows:

Goodwill
-
5
years

 
2.12

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:

Freehold property
-
5%
Straight line
Motor vehicles
-
25%
Reducing balance
Fixtures and fittings
-
10%
Straight line

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.

Page 6

 
CALPEDA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.13

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.14

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.15

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.

 
2.16

Debtors

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.

 
2.17

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.18

Creditors

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.

Page 7

 
CALPEDA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.19

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Preparation of the financial statements requires management to make significant judgements and esimates by using information available at the balance sheet date, the Directors make judgements based on experience regarding the level of provision required to account for potentially uncollectible receivables, rebates payable and receivable. 


4.


Intangible assets




Goodwill

£



Cost


At 1 January 2024
74,729



At 31 December 2024

74,729



Amortisation


At 1 January 2024
39,998


Charge for the year on owned assets
11,600



At 31 December 2024

51,598



Net book value



At 31 December 2024
23,131



At 31 December 2023
34,730



Page 8

 
CALPEDA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Freehold property
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2024
2,690,000
531,179
182,369
3,403,548


Additions
27,336
-
-
27,336


Disposals
-
(28,500)
-
(28,500)



At 31 December 2024

2,717,336
502,679
182,369
3,402,384



Depreciation


At 1 January 2024
269,000
455,737
154,510
879,247


Charge for the year on owned assets
135,883
49,984
13,346
199,213


Disposals
-
(28,500)
-
(28,500)



At 31 December 2024

404,883
477,221
167,856
1,049,960



Net book value



At 31 December 2024
2,312,453
25,458
14,513
2,352,424



At 31 December 2023
2,421,000
75,442
27,859
2,524,301

Property Valuations
The company requested an external valuation of the freehold property 6-8 Wedgewood Road, Bicester, Oxfordshire,  OX26  4UL.  The  valuation  was  carried  out  by  Neil  Moran  Associates  Ltd  Chartered
Surveyors by Kimberley Gould AssocRICS registered valuer (No.637229) on 25/03/2022 and was valued at £2,300,000. The basis of  the valuation was market value. The company also requested an external valuation of Grove  House, Friarwood Lane, Pontefract, WF8 1UA. The  valuation  was  carried  out by Holroyd Miller Chartered Surveyors by Jonathan P C Kidd MRICS registered valuer partner on 29/04/2022 and was valued at £390,000. The basis of the valuation was market value.
If the company adopted a revaluation policy on this category of fixed assets the net assets at the year end would increase by £1,628,629. 
 

Page 9

 
CALPEDA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

           5.Tangible fixed assets (continued)




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freehold
2,312,454
2,421,000

2,312,454
2,421,000


The company requested an external valuation of the freehold property 6-8 Wedgewood Road, Bicester, Oxfordshire, OX26 4UL. The valuation was carried out by Neil Moran Associates Ltd Chartered Surveyors by Kimberley Gould AssocRICS registered valuer (No.637229) on 25/03/2022 and was valued at £2,300,000. The basis of the valuation was market value. The company also requested an external valuation of Grove House, Friarwood Lane, Pontefract, WF8 1UA. The valuation was carried out by Holroyd Miller Chartered surveyors by Jonathan P C Kidd MRICS registered valuer partner on 29/04/2022 and was valued at £390,000. The basis of the valuation was market value.

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
2,477,526
2,477,526

Accumulated depreciation
(1,819,655)
(1,685,155)

Net book value
657,871
792,371

Page 10

 
CALPEDA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
86



At 31 December 2024
86





.


Subsidiary Undertakings

The following were subsidiary undertakings of the company:


The aggregate of the share capital and reserves as at 31 December 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking was as follows:


Holding
%

Name
  


Calpeda Pumps (Ireland) Limited
  
100

The aggregate of the share capital and reserves as at 31 December 2024 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Aggregate of share capital and reserves
Profit/(loss)
        £
        £
Calpeda Pumps (Ireland) Limited

827,345

133,575


The above represent final balances for the year ended 31st December 2024.

Page 11

 
CALPEDA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Debtors


2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
51,805
54,320

51,805
54,320

Due within one year

Trade debtors
480,741
468,077

Amounts owed by group undertakings
32,507
32,086

Other debtors
1,726
1,722

Prepayments and accrued income
20,302
24,878

Deferred taxation
28,444
25,295

615,525
606,378



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
453,826
275,736

Less: bank overdrafts
(23,435)
(17,147)

430,391
258,589


Page 12

 
CALPEDA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
23,435
17,147

Bank loans
36,745
34,097

Trade creditors
627,482
400,418

Other taxation and social security
140,669
133,781

Other creditors
8,873
8,873

Accruals and deferred income
151,209
126,748

988,413
721,064


The following liabilities were secured:

2024
2023
£
£



Bank overdrafts
23,435
17,147

Bank loans
36,745
34,097

60,180
51,244

Details of security provided:

The bank loans and overdraft are secured by the following deed of charges: 10/05/2013 floating charge covering all the property or undertaking of the company. 28/06/2013 a deed of charge over 6 Wedgewood Road, Bicester, OX26 4UL.

Page 13

 
CALPEDA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
112,699
148,221

112,699
148,221


The following liabilities were secured:

2024
2023
£
£



Bank Loan
112,699
148,221

112,699
148,221

Details of security provided:

The bank loans and overdraft are secured by the following deed of charges: 10/05/2013 floating charge covering all the property or undertaking of the company. 28/06/2013 a deed of charge over 6 Wedgewood Road, Bicester, OX26 4UL.

Page 14

 
CALPEDA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
36,745
34,097


36,745
34,097

Amounts falling due 1-2 years

Bank loans
39,078
36,262


39,078
36,262

Amounts falling due 2-5 years

Bank loans
73,620
111,958


73,620
111,958


149,443
182,317



12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100


Page 15

 
CALPEDA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

13.


Reserves

Revaluation reserve

The company requested an external valuation of the freehold property 6-8 Wedgewood Road, Bicester, Oxfordshire, OX26 4UL. The valuation was carried out by Neil Moran Associates Ltd Chartered Surveyors by Kimberley Gould AssocRICS registered valuer (No.637229) on 25/03/2022 and was valued at £2,300,000.The basis of the valuation was market value. The company also requested an external valuation of Grove House, Friarwood Lane, Pontefract, WF8 1UA. The valuation was carried out by Holroyd Miller Chartered surveyors by Jonathan P C Kidd MRICS registered valuer partner on 29/04/2022 and was valued at £390,000. The basis of the valuation was market value. Revaluation reserve on revaluation was £1,628,629.

Profit & loss account

Loss after tax for the financial year £198,491


14.


Pension commitments

The company contributes to 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 £75,897 (2023 £98,290) There were no contributions, payable to the fund, outstanding at the balance sheet date and included in creditors..


15.


Related party transactions


2024
2023
£
£



Calpeda Pumps (Ireland) Limited - sales
16,329
23,497
Calpeda Pumps (Ireland ) Limited - Debtor
16,329
23,497
Calpeda South Africa - Debtor
16,681
16,681
Calpeda Spa - Creditor
574,791
355,053
Calpeda Spa - Purchases
1,794,579
1,589,796
Calpeda Pumps (Ireland) Limited - Loan
66,498
69,725
Calpeda Pumps (Ireland) Limited - Creditor
-
-


16.


Controlling party

The company's parent company, Calpeda SpA, has the ultimate controlling interest and is incorporated in Italy. Calpeda SpA owns 100% of the issued ordinary £1 share capital. The consolidated accounts can be obtained from Via Roggia Di Mezzo 39, 36050 Montorso Vicentino, Vicenza, Italy. Throughout the year and the previous accounting year the parent company was controlled by members of Bidco41 SpA. 

Page 16

 
CALPEDA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

17.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 27 May 2025 by Miss Bethany Whitmore FCCA (Senior statutory auditor) on behalf of Wellers.

 
Page 17