Calefort Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03998569

Unaudited Financial Statements for the Year Ended 31 December 2017

for

Calefort Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

O Perkons

S Isidorou Siachinian

REGISTERED OFFICE:

19 Grantley House 11 Myers Lane

London

SE14 5RZ

REGISTERED NUMBER:

03998569

ACCOUNTANTS:

S H LANDES LLP

3rd Floor, Fairgate House

78 New Oxford Street

London

WC1A 1HB

CURRENT ASSETS

Debtors

3

2

2

Investments

4

5,948,217

5,948,217

5,948,219

5,948,219

CREDITORS

Amounts falling due within one year

5

9,750,011

8,092,098

NET CURRENT LIABILITIES

(3,801,792

)

(2,143,879

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,801,792

)

(2,143,879

)

CREDITORS

Amounts falling due after more than one year

6

306,676

1,947,062

NET LIABILITIES

(4,108,468

)

(4,090,941

)

CAPITAL AND RESERVES

Called up share capital

3

2

Retained earnings

(4,108,471

)

(4,090,943

)

SHAREHOLDERS' FUNDS

(4,108,468

)

(4,090,941

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 11 September 2018 and were signed on its behalf by:

O Perkons - Director

1.	STATUTORY INFORMATION

Calefort Developments 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Foreign currencies

Investments

Current asset investments are stated at lower of cost and net realisable value at the balance sheet date.

Going concern

The financial statements have been prepared on a going concern basis even though at the balance sheet date the

company had net liabilities amounting to $4,108,468 (2016: $4,090,941) and incurred a net loss of $17,528

(2016: $8,237) for the year.

The director considers the going concern basis to be appropriate due to the fact that the controlling party has

expressed its willingness to provide financial support for the next 12 months as from the date of approval of the

financial statements in order for the company to meet its current liabilities. Therefore the director continues to

adopt the going concern basis of accounting, which contemplates the realisation of assets and satisfaction of

liabilities and commitments in the normal course of business.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

$

$

Other debtors

2

2

4.	CURRENT ASSET INVESTMENTS

31.12.17

31.12.16

$

$

Unlisted investments

5,948,217

5,948,217

The company's unlisted investments include investments in companies listed on the Ukrainian Stock Exchange,

which is not a recognised Stock Exchange under FRS102. At 31 December 2017 the shares had been suspended.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

$

$

Other loans

1,654,064

-

Trade creditors

8,079,099

8,079,100

Other creditors

13,469

9,720

Accruals and deferred income

3,379

3,278

9,750,011

8,092,098

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

$

$

Other loans

306,676

1,947,062

7.	RELATED PARTY DISCLOSURES

8.	ULTIMATE CONTROLLING PARTY