CALECON_(HOLDINGS)_LIMITE - Accounts


Company Registration No. SC325563 (Scotland)
CALECON (HOLDINGS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
PAGES FOR FILING WITH REGISTRAR
CALECON (HOLDINGS) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CALECON (HOLDINGS) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2018
31 December 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Investments
2
333,391
333,391
Current assets
Cash at bank and in hand
192
252
Net current assets
192
252
Total assets less current liabilities
333,583
333,643
Creditors: amounts falling due after more than one year
3
(186,771)
(186,771)
Net assets
146,812
146,872
Capital and reserves
Called up share capital
4
17,130
17,130
Share premium account
46,081
46,081
Capital redemption reserve
82,869
82,869
Profit and loss reserves
732
792
Total equity
146,812
146,872

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 30 September 2019 and are signed on its behalf by:
Mr P Ewart
Director
Company Registration No. SC325563
CALECON (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
- 2 -
1
Accounting policies
Company information

Calecon (Holdings) Limited is a private company limited by shares incorporated in Scotland. The registered office is 17 Bernard Street, Edinburgh, EH6 6PW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover represents dividends received from subsidiary undertakings.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

CALECON (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Fixed asset investments
2018
2017
£
£
Investments
333,391
333,391

In the opinion of the directors, the investment at cost is an appropriate indication to the current market value.

CALECON (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
- 4 -
3
Creditors: amounts falling due after more than one year
2018
2017
£
£
Other creditors
186,771
186,771
4
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
17,130 Ordinary shares of £1 each
17,130
17,130
2018-12-312018-01-01falseCCH SoftwareCCH Accounts Production 2019.200No description of principal activity30 September 2019Mr Martin FinniganMr P EwartMr P EwartSC3255632018-01-012018-12-31SC3255632018-12-31SC3255632017-12-31SC325563core:Non-currentFinancialInstruments2018-12-31SC325563core:Non-currentFinancialInstruments2017-12-31SC325563core:ShareCapital2018-12-31SC325563core:ShareCapital2017-12-31SC325563core:SharePremium2018-12-31SC325563core:SharePremium2017-12-31SC325563core:CapitalRedemptionReserve2018-12-31SC325563core:CapitalRedemptionReserve2017-12-31SC325563core:RetainedEarningsAccumulatedLosses2018-12-31SC325563core:RetainedEarningsAccumulatedLosses2017-12-31SC325563bus:CompanySecretaryDirector12018-01-012018-12-31SC325563bus:PrivateLimitedCompanyLtd2018-01-012018-12-31SC325563bus:FRS1022018-01-012018-12-31SC325563bus:AuditExemptWithAccountantsReport2018-01-012018-12-31SC325563bus:SmallCompaniesRegimeForAccounts2018-01-012018-12-31SC325563bus:Director12018-01-012018-12-31SC325563bus:Director22018-01-012018-12-31SC325563bus:CompanySecretary12018-01-012018-12-31SC325563bus:FullAccounts2018-01-012018-12-31xbrli:purexbrli:sharesiso4217:GBP