Calvesten Limited - Limited company - abbreviated - 11.9

Calvesten Limited - Limited company - abbreviated - 11.9


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REGISTERED NUMBER: 02902067 (England and Wales)















ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

FOR

CALVESTEN LIMITED

CALVESTEN LIMITED (REGISTERED NUMBER: 02902067)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

CALVESTEN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2015







DIRECTORS: Mrs D C Milner
Mrs B C Milner-Moore



SECRETARY: Mrs D C Milner



REGISTERED OFFICE: 4th Floor, Stockdale House
Headingley Office Park
8 Victoria Road
Leeds
LS6 1PF



REGISTERED NUMBER: 02902067 (England and Wales)



ACCOUNTANTS: Bartfields (UK) Limited
Chartered Accountants
4th Floor, Stockdale House
Headingley Office Park
8 Victoria Road
Leeds
LS6 1PF



BANKERS: HSBC Bank PLC
66 Westgate
Wakefield
WF1 1XB

CALVESTEN LIMITED (REGISTERED NUMBER: 02902067)

ABBREVIATED BALANCE SHEET
31 MARCH 2015

2015 2014
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 6,569 2,531
Investments 3 1 2
Investment property 4 4,636,957 4,450,000
4,643,527 4,452,533

CURRENT ASSETS
Stocks 188,093 376,185
Debtors 45,057 123,082
Cash at bank and in hand 227,356 435,952
460,506 935,219
CREDITORS
Amounts falling due within one year 5 158,310 504,114
NET CURRENT ASSETS 302,196 431,105
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,945,723

4,883,638

CREDITORS
Amounts falling due after more than one
year

5

447,742

479,054
NET ASSETS 4,497,981 4,404,584

CAPITAL AND RESERVES
Called up share capital 6 100 100
Investment Property revaluation 3,759,156 3,907,589
Profit and loss account 738,725 496,895
SHAREHOLDERS' FUNDS 4,497,981 4,404,584

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CALVESTEN LIMITED (REGISTERED NUMBER: 02902067)

ABBREVIATED BALANCE SHEET - continued
31 MARCH 2015


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 23 December 2015 and were signed on its behalf
by:





Mrs B C Milner-Moore - Director


CALVESTEN LIMITED (REGISTERED NUMBER: 02902067)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The directors have formed a judgement, at the time of approving the financial statements, that there is a
reasonable expectation that the company has adequate resources to continue in operational existence for the
foreseeable future. For this reason, the directors continue to adapt the going concern basis in preparing the
financial statements.

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of
Value Added Tax.

In respect of long term contracts for on-going services, turnover represents the value of work done in the year,
including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for
on-going services is recognised by reference to the stage of completion.

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

Plant and machinery etc - 33% on cost and 15% on cost

Investment property
Investment properties are shown at their open market value. The surplus or deficit arising from the annual
revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual
investment property is expected to be permanent, in which case it is recognised in the profit and loss account for
the year.

This is in accordance with the FRSSE, which, unlike Schedule 4 to the Companies Act 2006, does not require
depreciation of investment properties. Investment properties are held for their investment potential and not for
use by the company and so their current value is of prime importance. The departure from the provisions of the
Act is required in order to give a true and fair view.

Stocks and work in progress
Stocks and Work in progress are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.

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

Investments
Investments are initially recorded at cost with consideration taken for any diminution in value which is expected
to be permanent.

CALVESTEN LIMITED (REGISTERED NUMBER: 02902067)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 MARCH 2015

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2014 29,494
Additions 6,825
At 31 March 2015 36,319
DEPRECIATION
At 1 April 2014 26,963
Charge for year 2,787
At 31 March 2015 29,750
NET BOOK VALUE
At 31 March 2015 6,569
At 31 March 2014 2,531

3. FIXED ASSET INVESTMENTS
Investments
other
than
loans
£   
COST
At 1 April 2014 2
Disposals (1 )
At 31 March 2015 1
NET BOOK VALUE
At 31 March 2015 1
At 31 March 2014 2

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Belvedere Court Management (Outwood) Limited
Nature of business: Dormant
%
Class of shares: holding
Ordinary 20.00

CALVESTEN LIMITED (REGISTERED NUMBER: 02902067)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 MARCH 2015

4. INVESTMENT PROPERTY
Total
£   
COST
At 1 April 2014 4,450,000
Additions 336,957
Disposals (150,000 )
At 31 March 2015 4,636,957
NET BOOK VALUE
At 31 March 2015 4,636,957
At 31 March 2014 4,450,000

5. CREDITORS

Creditors include an amount of £ 498,002 (2014 - £ 860,549 ) for which security has been given.

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
100 Ordinary £1 100 100

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2015 and
31 March 2014:

2015 2014
£    £   
Mrs D C Milner
Balance outstanding at start of year 36,907 20,038
Amounts advanced 12,415 59,851
Amounts repaid (41,998 ) (42,982 )
Balance outstanding at end of year 7,324 36,907

These loans are included in other debtors and are interest free with no fixed terms of repayment.