Callisto Projects Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04324109 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2019

for

Callisto Projects Ltd

Page

Abridged Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

5

287,328

137,259

Investments

6

213,649

213,649

500,977

350,908

CURRENT ASSETS

Stocks

179,888

50,010

Debtors

110,314

76,932

Cash at bank and in hand

15,278

20,179

305,480

147,121

CREDITORS

Amounts falling due within one year

366,341

264,483

NET CURRENT LIABILITIES

(60,861

)

(117,362

)

TOTAL ASSETS LESS CURRENT LIABILITIES

440,116

233,546

CREDITORS

Amounts falling due after more than one year

(119,343

)

(15,288

)

PROVISIONS FOR LIABILITIES

(13,300

)

(1,379

)

NET ASSETS

307,473

216,879

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

307,373

216,779

SHAREHOLDERS' FUNDS

307,473

216,879

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 23rd December 2019 and were signed by:

Mr B P G Martin - Director

1.	STATUTORY INFORMATION

Callisto Projects Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address are as below:

Registered number:

04324109

Registered office:

Kings Lodge

London Road

West Kingsdown

Sevenoaks

Kent

TN15 6AR

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Revenue recognition

Sales comprise the fair value of the consideration received or receivable for the rendering of services in the

ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that

future economic benefits will flow to the entity and when specific criteria have been met for each of the

company's activities as follows:

Revenue from the sale of services is recognised at the point at which those services have been provided to the

customer. Where payments are received from customers in advance of services provided, the amounts are

recorded as deferred income and included as part of creditors due within one year.

Rental income from operating leases (net of any incentives given to the lessees) is recognised when the right to

receive payment is established.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks & 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.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1st April 2018

170,161

Additions

108,010

Disposals

(43,713

)

Revaluations

70,000

At 31st March 2019

304,458

DEPRECIATION

At 1st April 2018

32,902

Charge for year

15,941

Eliminated on disposal

(31,713

)

At 31st March 2019

17,130

NET BOOK VALUE

At 31st March 2019

287,328

At 31st March 2018

137,259

Cost or valuation at 31st March 2019 is represented by:

Totals

£

Valuation in 2018

58,831

Valuation in 2019

70,000

Cost

175,627

304,458

If 3 Main Road had not been revalued it would have been included at the following historical cost:

2019

2018

£

£

Cost

71,169

71,169

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST OR VALUATION

Additions

98,761

At 31st March 2019

98,761

DEPRECIATION

Charge for year

14,814

At 31st March 2019

14,814

NET BOOK VALUE

At 31st March 2019

83,947

6.	FIXED ASSET INVESTMENTS

The amount included as a fixed asset investment represents the company's capital account outstanding as at the

balance sheet date in Bambram Investments LLP.

7.	RELATED PARTY DISCLOSURES

During the year under review, the company has been a corporate partner in Bambram Investments LLP. As at the

balance sheet date, the fixed asset investment of £213,649 (2018: £213,649) is made up of the capital account

balance that the company has in the LLP. The director of the company, Mr B Martin, is a designated member of

the LLP.