Calvesten Limited - Limited company - abbreviated

REGISTERED NUMBER: 02902067 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

FOR

CALVESTEN LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

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

FIXED ASSETS

Tangible assets

2

2,531

6,606

Investments

3

2

Investment property

4

4,450,000

4,452,533

4,456,608

CURRENT ASSETS

Stocks

376,185

Debtors

123,082

80,517

Cash at bank and in hand

435,952

418,347

935,219

875,049

CREDITORS

Amounts falling due within one year

5

504,114

427,335

NET CURRENT ASSETS

431,105

447,714

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,883,638

4,904,322

CREDITORS

Amounts falling due after more than one
year

5

479,054

546,177

NET ASSETS

4,404,584

4,358,145

CAPITAL AND RESERVES

Called up share capital

6

100

Investment Property revaluation

3,907,589

Profit and loss account

496,895

450,456

SHAREHOLDERS' FUNDS

4,404,584

4,358,145

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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.

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 19 December 2014 and were signed on its behalf
by:

Mrs B C Milner-Moore - Director

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

29,494

DEPRECIATION

At 1 April 2013

22,888

Charge for year

4,075

At 31 March 2014

26,963

NET BOOK VALUE

At 31 March 2014

2,531

At 31 March 2013

6,606

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2013

and 31 March 2014

2

NET BOOK VALUE

At 31 March 2014

2

At 31 March 2013

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

40.00

4.	INVESTMENT PROPERTY

Total

£

COST

At 1 April 2013

and 31 March 2014

4,450,000

NET BOOK VALUE

At 31 March 2014

4,450,000

At 31 March 2013

4,450,000

5.

CREDITORS

Creditors include an amount of £ 860,549 (2013 - £ 891,055 ) for which security has been given.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

100

Ordinary

£1

100

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31 March 2013:

2014

2013

£

Mrs D C Milner

Balance outstanding at start of year

20,038

3,066

Amounts advanced

59,851

59,954

Amounts repaid

(42,982

)

(42,982

)

Balance outstanding at end of year

36,907

20,038

These loans are interest free with no fixed terms of repayment.

Calvesten Limited - Limited company - abbreviated - 11.6

Calvesten Limited - Limited company - abbreviated - 11.6