Caliber Financial Management Ltd - Accounts

Caliber Financial Management Ltd - Accounts

CALIBER FINANCIAL MANAGEMENT LIMITED - Company Information

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Registered Number: 06298180


 

 

 

CALIBER FINANCIAL MANAGEMENT LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2019

End date: 31 March 2020

Caliber Financial Management Ltd
Contents Page
For the year ended 31 March 2020
Report to the directors on the preparation of the unaudited statutory accounts of Caliber Financial Management Ltd for the year ended 31 March 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Caliber Financial Management Ltd for the year ended 31 March 2020 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Caliber Financial Management Ltd, as a body, in accordance with the terms of our engagement letter dated 25th May 2018 Our work has been undertaken solely to prepare for your approval the accounts of Caliber Financial Management Ltd and state those matters that we have agreed to state to the Board of Directors of Caliber Financial Management Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Caliber Financial Management Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Caliber Financial Management Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Caliber Financial Management Ltd. You consider that Caliber Financial Management Ltd is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of Caliber Financial Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 March 2020



....................................................
Baranov Associates Ltd
3 Appleby Gardens
Dunstable
LU6 3DB
30 June 2020
1
 
 		 Notes
 		 2020
£		   2019
£
Fixed assets      
Tangible fixed assets 2 7,899    2,567 
7,899    2,567 
Current assets      
Debtors: amounts falling due within one year 188,757    208,796 
Cash at bank and in hand 384,011    734,860 
572,768    943,656 
Creditors: amount falling due within one year (118,577)   (196,676)
Net current assets 454,191    746,980 
 
Total assets less current liabilities 462,090    749,547 
Provisions for liabilities (1,501)   (488)
Net assets 460,589    749,059 
 

Capital and reserves 		     
Called up share capital 3 890    1,112 
Reserves 942    0 
Profit and loss account 458,757    747,947 
Shareholders funds 460,589    749,059 
 


For the year ended 31 March 2020 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with Section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 30 June 2020 and were signed on its behalf by:


--------------------------------
Patrick McAneney
Director
2
General Information
Caliber Financial Management Ltd is a private company, limited by shares, registered in , registration number 06298180, registration address Unit 18 Harmill Industrial Estate, Grovebury Road, Leighton Buzzard, Bedfordshire, LU7 4FF.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 20% Straight Line
Computer Equipment 33% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Tangible fixed assets

Cost Land and Buildings   Computer Equipment   Total
  £   £   £
At 01 April 2019 43,142    16,135    59,277 
Additions -    7,154    7,154 
Disposals -    -    - 
At 31 March 2020 43,142    23,289    66,431 
Depreciation
At 01 April 2019 42,758    13,952    56,710 
Charge for year 384    1,438    1,822 
On disposals -    -    - 
At 31 March 2020 43,142    15,390    58,532 
Net book values
Closing balance as at 31 March 2020 -    7,899    7,899 
Opening balance as at 01 April 2019 384    2,183    2,567 


3.

Share Capital

Allotted
2020
£		   2019
£
900 Ordinary shares of £1.00 each 900    900 
112 B Ordinary shares of £1.00 each 112    112 
100 C Ordinary shares of £1.00 each 100    100 
1,112    1,112 

4.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2020
£		 2019
£		 2020
£		 2019
£
Caliber Financial Associates Limited1,395,864 1,288,535 110,839 45,278 


Caliber Financial Associates Limited
During the year the company's registration with the Financial Conduct Authority was regulated by Caliber Financial Associates Limited. Accordingly, commission and fee income was generated through that company.
3