Calluna Capital Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Calluna Capital Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12958851 . The registered office is Paulton House, Old Mills, Paulton, Bristol, BS39 7SX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

25% Straight Line Method

2.4. Financial Instruments

The entity has only entered into basic financial instruments. Basic financial instruments are recognised at amortised cost, except for investments in nonconvertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Calluna Capital Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Estimates and Judgements

There were no critical accounting estimates or judgements required in the preparation of these financial statements in the current or prior year.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 2)

4. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 January 2024	3,166
Additions	644

As at 31 December 2024	3,810

Depreciation
As at 1 January 2024	2,094
Provided during the period	819

As at 31 December 2024	2,913

...CONTINUED

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Calluna Capital Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Net Book Value
As at 31 December 2024	897

As at 1 January 2024	1,072

5. Investments

	Unlisted
	£
Cost or Valuation
As at 1 January 2024	-
Additions	15,000

As at 31 December 2024	15,000

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	15,000

As at 1 January 2024	-

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	16,938	43,385
Other debtors	152	65,524

	17,090	108,909

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Bank loans and overdrafts	998	-
Other taxes and social security	78,617	119,781
Other creditors	777	-

	80,392	119,781

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Calluna Capital Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1	1

Allotted, called up and fully paid

50 Ordinary Shares of £0.01 each

25 Ordinary A Shares of £0.01 each

25 Ordinary B Shares of £0.01 each

Prescribed particulars

Class of Shares: Ordinary

Each share is entitled to one vote in any circumstances. Each share is equally entitled to a distribution of dividends. Each share is equally entitled to a distribution of capital.

Class of Shares: Ordinary A

Each share is entitled to one vote in any circumstances. Each share is equally entitled to a distribution of dividends. Each share is equally entitled to a distribution of capital.

Class of Shares: Ordinary B

Each share is entitled to one vote in any circumstances. Each share is equally entitled to a distribution of dividends. Each share is equally entitled to a distribution of capital.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		897		1,072
Investments	5		15,000		-

			15,897		1,072
CURRENT ASSETS
Debtors	6	17,090		108,909
Cash at bank and in hand		166,819		10,321

		183,909		119,230
Creditors: Amounts Falling Due Within One Year	7	(80,392 )		(119,781 )

NET CURRENT ASSETS (LIABILITIES)			103,517		(551 )

TOTAL ASSETS LESS CURRENT LIABILITIES			119,414		521

NET ASSETS			119,414		521

CAPITAL AND RESERVES
Called up share capital	8		1		1
Profit and Loss Account			119,413		520

SHAREHOLDERS' FUNDS			119,414		521