Calinnova Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02920686 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

CALINNOVA LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M G Green

Mrs S B Green

SECRETARY:

Mrs S B Green

REGISTERED OFFICE:

Unit 21/22 Spring Mill Industrial Estate

Avening Road

Nailsworth

Gloucestershire

GL6 0BS

REGISTERED NUMBER:

02920686 (England and Wales)

ACCOUNTANTS:

Randall & Payne LLP

Chartered Accountants

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

FIXED ASSETS

Tangible assets

4

14,161

27,164

CURRENT ASSETS

Stocks

120,016

135,884

Debtors

5

16,103

23,295

Cash at bank and in hand

105,427

114,170

241,546

273,349

CREDITORS

Amounts falling due within one year

6

89,025

121,495

NET CURRENT ASSETS

152,521

151,854

TOTAL ASSETS LESS CURRENT LIABILITIES

166,682

179,018

PROVISIONS FOR LIABILITIES

3,201

6,377

NET ASSETS

163,481

172,641

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

163,381

172,541

SHAREHOLDERS' FUNDS

163,481

172,641

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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 applicable to companies subject to the small companies regime.

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 Board of Directors and authorised for issue on 27 March 2024 and were signed on its behalf by:

Mrs S B Green - Director

M G Green - Director

1.	STATUTORY INFORMATION

Calinnova Ltd 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.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced goods, excluding value added tax and is recognised at the point the sales invoice is raised once the transaction is complete.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

25% on reducing balance

Plant and machinery

-

33% on cost and 25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Sales made in foreign currencies are translated into sterling at the rate ruling on the date the foreign price list was established. Exchange differences are taken into account in arriving at the operating profit.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

There are no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern.

Provisions

Provisions are recognised only where it is probable that a present obligation exists as a result of a past transaction or an event prior to the balance sheet date. In addition, a provision is only recgonised where the amounts can be reliably estimated. Where material, provisions are calculated on a discounted basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 October 2022

36,475

233,644

11,663

281,782

Additions

-

974

-

974

At 30 September 2023

36,475

234,618

11,663

282,756

DEPRECIATION

At 1 October 2022

33,054

210,271

11,293

254,618

Charge for year

1,040

12,845

92

13,977

At 30 September 2023

34,094

223,116

11,385

268,595

NET BOOK VALUE

At 30 September 2023

2,381

11,502

278

14,161

At 30 September 2022

3,421

23,373

370

27,164

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

15,915

19,500

VAT

-

1,654

Prepayments and accrued income

188

2,141

16,103

23,295

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

36,106

53,200

Corporation Tax

19,820

27,404

Social security and other taxes

1,993

4,118

Wages control account

6,162

11,991

Pension Control Account

471

744

VAT

4,588

-

Accruals & other creditors

11,195

14,454

Other creditors - Greenteam

5,942

7,460

Directors' current accounts

2,748

2,124

89,025

121,495

7.	SECURED DEBTS

The company has a debenture with Barclays Bank PLC. The amount secured is all monies are to be due or become due from the company to the chargee on any account whatsoever. The charge includes fixed and floating charges over the undertaking and all property and assets present and future including goodwill, bookdebts, uncalled capital, buildings, fixtures, fixed plant and machinery.

8.	TRANSACTIONS WITH DIRECTORS

The following advances and credits to directors subsisted during the years ended 30 September 2023 and 30 September 2022:

2023

2022

£

£

M G Green and Mrs S B Green

Balance outstanding at start of year

(2,124

)

(1,500

)

Amounts repaid

(624

)

(624

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(2,748

)

(2,124

)

No interest has been charged on the balance, and there no set repayment terms for the loan.

9.	RELATED PARTY DISCLOSURES

Greenteam Holdings Limited (incorporated in England and Wales) is regarded by the directors as being the company's ultimate parent company.At the year-end, Calinnova Ltd owed Greenteam Holdings Limited £5,942 (2022: £7,450).