Company Registration No. 04714103 (England and Wales)
CALGARTH PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2020
PAGES FOR FILING WITH REGISTRAR
CALGARTH PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
CALGARTH PROPERTIES LIMITED (REGISTERED NUMBER: 04714103)
BALANCE SHEET
AS AT 31 JANUARY 2020
31 January 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Investment properties
2
400,000
1,500,000
Current assets
Debtors
3
47,772
46,008
Cash at bank and in hand
589,971
54,828
637,743
100,836
Creditors: amounts falling due within one year
4
(75,665)
(79,005)
Net current assets
562,078
21,831
Total assets less current liabilities
962,078
1,521,831
Creditors: amounts falling due after more than one year
5
(572,656)
(1,095,183)
Net assets
389,422
426,648
Capital and reserves
Called up share capital
6
120
120
Non-distributable profits reserve
7
112,236
348,942
Distributable profit and loss reserves
277,066
77,586
Total equity
389,422
426,648
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 January 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their 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 period 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.
CALGARTH PROPERTIES LIMITED (REGISTERED NUMBER: 04714103)
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2020
31 January 2020
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 15 May 2020 and are signed on its behalf by:
C E Walker
Director
CALGARTH PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2020
- 3 -
1
Accounting policies
Company information
Calgarth Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19-21 Swan Street, West Malling, Kent, ME19 6JU.
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 £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Reporting period
These accounts are made up to 31 January 2020 and therefore represent an 8 months period as the directors of the Limited company are looking to sell the business. The comparative amounts presented in the financial statements and related notes are therefore not entirely comparative.
1.3
Turnover
Turnover is recognised at the fair value of rental income receivable and is shown net of VAT.
1.4
Investment properties
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.
1.5
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.
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.
CALGARTH PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2020
- 4 -
2
Investment property
2020
£
Fair value
At 1 April 2019
1,500,000
Disposals
(863,293)
Revaluations
(236,707)
At 31 January 2020
400,000
Investment property comprises £400,000. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
3
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
41,358
33,116
Other debtors
6,414
12,892
47,772
46,008
4
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
2,255
5,383
Taxation and social security
3,464
12,114
Other creditors
69,946
61,508
75,665
79,005
5
Creditors: amounts falling due after more than one year
2020
2019
£
£
Other creditors
572,656
1,095,183
CALGARTH PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2020
- 5 -
6
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
30 Ordinary A of £1 each
30
30
60 Ordinary B of £1 each
60
60
30 Ordinary C of £1 each
30
30
120
120
7
Non-distributable profits reserve
2020
2019
£
£
At the beginning of the period
348,942
673,576
Non distributable profits in the period
(236,706)
(324,634)
At the end of the period
112,236
348,942
8
Related party transactions
Ashlake Properties Limited
A company which owns 50% of the share capital.
During the year the company received services totalling £12,364 and was charged interest amounting to £17,635 from Ashlake Properties Limited. As at the balance sheet date the company owed £372,656 to Ashlake Properties Limited, this balance is included in other creditors due after more than one year.
Speed 9763 Limited
A company which owns 50% of the share capital.
As at the balance sheet date the company owed £200,000 to Speed 9763 Limited, this balance is included in other creditors due after more than one year.
2020-01-312019-04-01false15 May 2020CCH SoftwareCCH Accounts Production 2020.100No description of principal activityMrs L J WalkerC E Walker EsqC E Walker047141032019-04-012020-01-31047141032020-01-31047141032019-03-3104714103core:CurrentFinancialInstrumentscore:WithinOneYear2020-01-3104714103core:CurrentFinancialInstrumentscore:WithinOneYear2019-03-3104714103core:CurrentFinancialInstruments2020-01-3104714103core:CurrentFinancialInstruments2019-03-3104714103core:Non-currentFinancialInstruments2020-01-3104714103core:Non-currentFinancialInstruments2019-03-3104714103core:ShareCapital2020-01-3104714103core:ShareCapital2019-03-3104714103core:FurtherSpecificReserve1ComponentTotalEquity2020-01-3104714103core:FurtherSpecificReserve1ComponentTotalEquity2019-03-3104714103core:RetainedEarningsAccumulatedLosses2020-01-3104714103core:RetainedEarningsAccumulatedLosses2019-03-3104714103core:ShareCapitalOrdinaryShares2020-01-3104714103core:ShareCapitalOrdinaryShares2019-03-3104714103bus:CompanySecretaryDirector12019-04-012020-01-31047141032019-03-3104714103core:WithinOneYear2020-01-3104714103core:WithinOneYear2019-03-3104714103bus:PrivateLimitedCompanyLtd2019-04-012020-01-3104714103bus:SmallCompaniesRegimeForAccounts2019-04-012020-01-3104714103bus:FRS1022019-04-012020-01-3104714103bus:AuditExemptWithAccountantsReport2019-04-012020-01-3104714103bus:Director12019-04-012020-01-3104714103bus:Director22019-04-012020-01-3104714103bus:CompanySecretary12019-04-012020-01-3104714103bus:FullAccounts2019-04-012020-01-31xbrli:purexbrli:sharesiso4217:GBP