Calipso (Roast) Limited Filleted accounts for Companies House (small and micro)

CALIPSO (ROAST) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 01169206

Calipso (Roast) Limited

Filleted Unaudited Financial Statements

31 December 2019

Calipso (Roast) Limited

Statement of Financial Position

31 December 2019

	2019		2018
Note	£	£	£	£

Current assets

Debtors	5	671,667	691,816
Cash at bank and in hand		1,449	1,399
		---------	---------
		673,116	693,215

Creditors: amounts falling due within one year	6	209,300		230,787
		---------		---------
Net current assets			463,816		462,428
			---------		---------
Total assets less current liabilities			463,816		462,428
			---------		---------
Net assets			463,816		462,428
			---------		---------

Capital and reserves

Called up share capital	7	2,000	2,000
Profit and loss account		461,816	460,428
		---------	---------
Shareholders funds		463,816	462,428
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31st December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 24 June 2020 , and are signed on behalf of the board by:

P.M. West	S.M. Roast
Director	Director

Company registration number: 01169206

Calipso (Roast) Limited

Notes to the Financial Statements

Year ended 31st December 2019

1. General information

The company is a private company limited by shares, registered in England and Wales, company registration number 01169206 . The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents the amount invoiced during the year. The directors consider that 6.96% (2018: 8.56%) of the company's turnover is derived from outside the United Kingdom.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Average number of employees

During the year the average number of employees was 4 (2018: 4) which consisted of the directors only.

5. Debtors

	2019	2018
	£	£
Trade debtors	267,641	259,305
Amounts owed by group undertakings	404,026	432,511
	---------	---------
	671,667	691,816
	---------	---------

6. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	20	26
Accruals and deferred income	11,676	8,238
Corporation tax	325	862
Other taxes and social security	20,730	14,693
Other creditors	176,549	206,968
	---------	---------
	209,300	230,787
	---------	---------

Included within other creditors is an amount of £176,549 (2018: £206,968) which is secured by the company by way of fixed and floating charges over all UK assets and undertakings, and by a first legal mortgage over the Freehold Property.

7. Called up share capital

Issued, called up and fully paid

	2019		2018
	No.	£	No.	£
Ordinary shares of £ 1 each	2,000	2,000	2,000	2,000
	-------	-------	-------	-------

8. Contingencies

Total financial commitments, guarantees and contingencies undertaken on behalf of group undertakings which are not included in the balance sheet amount to £611,656 (2018: £577,559). Security on the above takes the form of fixed and floating charges over all UK assets and undertakings, and by a first legal mortgage over the freehold property.

9. Related party transactions

The company has taken advantage of the exemption granted by paragraph 1AC.35 of FRS 102 not to disclose related party transactions with group companies.

10. Controlling party

The ultimate parent company of Calipso (Roast) Limited at the balance sheet date is Roast (Holdings) Limited, a company registered in the United Kingdom.