Calleblend Limited - Filleted accounts

CALLEBLEND LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2021

Company Registration Number: 03774435

CALLEBLEND LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
CONTENTS									PAGES
Company information									1
Balance sheet									2 to 3
Notes to the financial statements									4 to 9

CALLEBLEND LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021
DIRECTORS
C A Griffiths
W Shaw
SECRETARY
W Shaw
REGISTERED OFFICE
Market Way
North Petherton
Bridgwater
Somerset
TA6 6DF
COMPANY REGISTRATION NUMBER
03774435 England and Wales

CALLEBLEND LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2021
			Notes		2021				2020
					£				£
FIXED ASSETS
Tangible assets			5				2,796,892				2,796,892
Investments			6				4,238				4,238
							2,801,130				2,801,130
CURRENT ASSETS
Debtors			7		2,886,457				457,825
Cash at bank and in hand					121,337				2,870,872
					3,007,794				3,328,697
CREDITORS: Amounts falling due within one year			8		384,026				823,022
NET CURRENT ASSETS							2,623,768				2,505,675
TOTAL ASSETS LESS CURRENT LIABILITIES							5,424,898				5,306,805
CREDITORS: Amounts falling due after more than one year			9				646,066				737,650
Provisions for liabilities and charges							95,714				95,640
NET ASSETS							4,683,118				4,473,515
CAPITAL AND RESERVES
Called up share capital							90				90
Distributable profit and loss account							4,683,028				4,473,425
SHAREHOLDERS' FUNDS							4,683,118				4,473,515

CALLEBLEND LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2021
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
C A Griffiths						W Shaw
Director						Director
Date approved by the board: 1 September 2022

CALLEBLEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
1	GENERAL INFORMATION
	Calleblend Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
	Market Way
	North Petherton
	Bridgwater
	Somerset
	TA6 6DF
	The financial statements are presented in Sterling, which is the functional currency of the company.
2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of preparation of financial statements
	These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
	Revenue recognition

	Turnover is measured at the fair value of consideration received or receivable and represents the value of rent receivable from its subsidary undertaking, stated net of trade discounts and value added tax.
	The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.

	Tangible fixed assets

	Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

	Depreciation has not been provided in respect of land and buildings. The company adopts a policy of fully maintaining these and as such the residual value is so high, and the expected useful life is so long, that the depreciation charge would be immaterial, both in terms of the depreciation charged for the period and the cumulative charge to the balance sheet.
	On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
	Investments

	Investments in subsidiaries are shown at cost less accumulated impairment losses.

CALLEBLEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
	Financial Instruments
	The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
	Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

	Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
	Impairment of non-financial assets

	At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
	If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.

	Debtors

	Short term debtors are measured at transaction price, less any impairment.

	Creditors
	Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
	Leases
	Payments received under operating leases are recognised as income over the lease term on a straight-line basis.

CALLEBLEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
	Taxation
	Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.
	Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

	Current and deferred tax assets and liabilities are not discounted.
	Consolidation
	The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has therefore taken advantage of the option provided by section 399 of the Companies Act 2006 not to prepare group accounts.
3	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

	No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.

4	EMPLOYEES
	The average number of persons employed by the company (including directors) during the year was:
									2021		2020
	Average number of employees								2		2

CALLEBLEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
5	TANGIBLE ASSETS
										Freehold land and buildings
											£
	Cost
	At 1 January 2021										2,796,892
	At 31 December 2021										2,796,892
	Net book value
	At 1 January 2021										2,796,892
	At 31 December 2021										2,796,892
6	FIXED ASSET INVESTMENTS
										Subsidiary undertaking
											£
	Cost
	At 1 January 2021										4,238
	At 31 December 2021										4,238
	Net book value
	At 1 January 2021										4,238
	At 31 December 2021										4,238
7	DEBTORS
									2021		2020
									£		£
	Other debtors								2,886,457		457,825
8	CREDITORS: Amounts falling due within one year
									2021		2020
									£		£
	Bank loans and overdrafts								92,376		90,306
	Trade creditors								2,520		-
	Taxation and social security								153,652		26,298
	Accruals and deferred income								37,249		37,250
	Other creditors								98,229		669,168
									384,026		823,022

CALLEBLEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
9	CREDITORS: Amounts falling due after more than one year
									2021		2020
									£		£
	Bank loans and overdrafts								646,066		737,650
	Included in the amounts falling due after more than one year are the following amounts which are due in more
	than five years:
									2021		2020
									£		£
	Bank loans and overdrafts								254,703		355,055
10	SECURED DEBTS
	The company has a bank loan with Lloyds which is secured on a first legal charge over the land and new build, a first legal charge over the lease between Calleblend Limited and Calleva Limited over the new build, a debenture from Calleblend Limited and Calleva Limited in the bank's standard form, cross guarantees between the two companies and an unsupported joint and several guarantee from the directors, in the sum of £100,000 for the duration of the build only. At the balance sheet date £827,955 of the loan remains outstanding at 2.56% over base rate, which will be repaid over the remaining 8 years of the loan term.
11	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
	The following directors' advances, credits and guarantees took place during the year
			Balance at 1 January 2021		Amounts advanced		Amounts repaid		Amounts written off or waived		Balance at 31 December 2021
			£		£		£		£		£
	C A Griffiths and W Shaw		457,825		83,275		60,000		-		481,100

	Interest has been charged on this advance at the Beneficial Loan Arrangement Official Rate as prescribed by HM Revenue and Customs. The advance is repayable on demand.

CALLEBLEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

12	RELATED PARTY TRANSACTIONS
	The company has claimed exemptions from reporting disclosure of related party transactions with the following wholly owned group members:
	Calleva Limited		Wholly owned subsidiary
	During the year, the following transactions with related parties took place:
	C King
	Shareholder								2021		2020
									£		£
	Shareholder loan account		Related party transaction						29,699		58,067
	Calleva Ingredients
	Entity controlled by key management personnel								2021		2020
									£		£
	Calleva Ingredients		Amount owed to related party						68,530		285,000