Calderstones Homes Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 04420172 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st March 2022

for

CALDERSTONES HOMES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr G P Buchanan

SECRETARY:

Mrs P F Buchanan

REGISTERED OFFICE:

41 St Thomas's Road

Chorley

Lancashire

PR7 1JE

REGISTERED NUMBER:

04420172 (England and Wales)

ACCOUNTANTS:

Abrams Ashton - Chorley Limited

Chartered Certified Accountants

41 St Thomas's Road

Chorley

Lancashire

PR7 1JE

FIXED ASSETS

Tangible assets

4

128

207

Investment property

5

190,949

190,949

191,077

191,156

CURRENT ASSETS

Debtors

6

120

43

Cash at bank

31,763

25,373

31,883

25,416

CREDITORS

Amounts falling due within one year

7

31,210

27,457

NET CURRENT ASSETS/(LIABILITIES)

673

(2,041

)

TOTAL ASSETS LESS CURRENT LIABILITIES

191,750

189,115

CREDITORS

Amounts falling due after more than one year

8

(164,339

)

(158,658

)

PROVISIONS FOR LIABILITIES

(1,544

)

(1,559

)

NET ASSETS

25,867

28,898

CAPITAL AND RESERVES

Called up share capital

10

100

100

Non-distributable reserves

14,154

14,154

Retained earnings

11,613

14,644

SHAREHOLDERS' FUNDS

25,867

28,898

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19th December 2022 and were signed by:

Mr G P Buchanan - Director

1.	STATUTORY INFORMATION

Calderstones Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Revenue recognition

Revenue represents the value of net rents receivable for the total period of property occupation.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33.3% on cost

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Investment property

Investment property is property held to earn rentals. It is initially measured at acquisition cost, including transaction costs. Subsequently it is measured at fair value on an open market basis. Deferred tax is provided on these movements. Gains and losses arising from changes in fair value are included in the Statement of Income and Retained Earnings in which they arise.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - 1 ).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1st April 2021

and 31st March 2022

240

DEPRECIATION

At 1st April 2021

33

Charge for year

79

At 31st March 2022

112

NET BOOK VALUE

At 31st March 2022

128

At 31st March 2021

207

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2021

and 31st March 2022

190,949

NET BOOK VALUE

At 31st March 2022

190,949

At 31st March 2021

190,949

No significant change in the valuation of the properties has occurred in the year ended 31st March 2022.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Tax refund due

120

43

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Tax

242

-

Directors' current accounts

10,000

10,000

Accrued expenses

20,968

17,457

31,210

27,457

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Directors' loan accounts

164,339

158,658

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.22

31.3.21

£

£

Within one year

3,865

-

Between one and five years

2,899

-

6,764

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.22

31.3.21

value:

£

£

100

Ordinary

£1

100

100

11.	RELATED PARTY DISCLOSURES

At the 31 March 2022 the company owed to its directors £174,339 (2021 - £168,658). £164,339 (2021 - £158,658) of this loan has been categorised as due over one year. Interest at 2.5% has been charged to the company in respect of this loan. There is no formal repayment date for this loan

12.	ULTIMATE CONTROLLING PARTY

Throughout the current and previous year, Mr & Mrs G Buchanan have controlled the company by virtue of holding 100% of the issued ordinary share capital.