Calvert Services Limited Filleted accounts for Companies House (small and micro)

CALVERT SERVICES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 12144610

Calvert Services Limited

Filleted Unaudited Financial Statements

31 March 2023

Calvert Services Limited

Statement of Financial Position

31 March 2023

	2023	2022
Note	£	£

Fixed assets

Tangible assets	5	420,625	423,497

Current assets

Debtors	6	568	–
Cash at bank and in hand		189,878	42,058
		---------	--------
		190,446	42,058

Creditors: amounts falling due within one year	7	278,762	153,682
		---------	---------
Net current liabilities		88,316	111,624
		---------	---------
Total assets less current liabilities		332,309	311,873

Creditors: amounts falling due after more than one year	8	326,127	326,127
		---------	---------
Net assets/(liabilities)		6,182	( 14,254)
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	6,082	( 14,354)
	-------	--------
Shareholders funds/(deficit)	6,182	( 14,254)
	-------	--------

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 31 March 2023 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 .

Calvert Services Limited

Statement of Financial Position (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 26 December 2023 , and are signed on behalf of the board by:

Dr J Calvert

Director

Company registration number: 12144610

Calvert Services Limited

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Minton Place, Victoria Road, Bicester, Oxon, OX26 6QB.

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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

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.

Operating leases

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	Straight line over 50 years
Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).

5. Tangible assets

	Freehold property	Equipment	Total
	£	£	£
Cost
At 1 April 2022	434,970	2,348	437,318
Additions	–	2,002	2,002
	---------	-------	---------
At 31 March 2023	434,970	4,350	439,320
	---------	-------	---------
Depreciation
At 1 April 2022	13,049	772	13,821
Charge for the year	4,350	524	4,874
	---------	-------	---------
At 31 March 2023	17,399	1,296	18,695
	---------	-------	---------
Carrying amount
At 31 March 2023	417,571	3,054	420,625
	---------	-------	---------
At 31 March 2022	421,921	1,576	423,497
	---------	-------	---------

6. Debtors

	2023	2022
	£	£
Other debtors	568	–
	----	----

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Corporation tax	5,589	–
Other creditors	273,173	153,682
	---------	---------
	278,762	153,682
	---------	---------

8. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Bank loans and overdrafts	326,127	326,127
	---------	---------