Calmor Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06795603 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

CALMOR LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

E Dodd

J N Coulthard

SECRETARY:

E Dodd

REGISTERED OFFICE:

80 Victoria Road

Darlington

County Durham

DL1 5JG

REGISTERED NUMBER:

06795603 (England and Wales)

ACCOUNTANTS:

Christie Proud Thompson

80 Victoria Road

Darlington

County Durham

DL1 5JG

FIXED ASSETS

Tangible assets

2

1,068,185

1,183,994

Investments

3

607,745

957,501

1,675,930

2,141,495

CURRENT ASSETS

Debtors

4

237,528

2,590,768

Cash at bank and in hand

170,918

4,005

408,446

2,594,773

CREDITORS

Amounts falling due within one year

5

1,059,473

348,297

NET CURRENT (LIABILITIES)/ASSETS

(651,027

)

2,246,476

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,024,903

4,387,971

CREDITORS

Amounts falling due after more than one
year

5

(4,745,858

)

(4,190,764

)

ACCRUALS AND DEFERRED INCOME

(152,500

)

(162,500

)

NET (LIABILITIES)/ASSETS

(3,873,455

)

34,707

CAPITAL AND RESERVES

Called up share capital

6

2

Profit and loss account

(3,873,457

)

34,705

SHAREHOLDERS' FUNDS

(3,873,455

)

34,707

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 29 September 2016 and were signed on its behalf
by:

E Dodd - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the going concern basis. Despite the fact that the company has an

insolvent balance sheet, the directors consider that this basis is appropriate following due consideration of the

present financial position, the expected prospects of the company during the twelve months from the date of

approval of these financial statements and the continued support of the company's directors, bankers and parent

company during this time.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Freehold property

-

5% on cost

Plant and machinery

-

25% on cost

Computer equipment

-

25% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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 the profit and loss account in the period to which they relate.

Grants

Grants receivable in respect of tangible fixed assets are treated as deferred income, which is credited to the profit

and loss account over the estimated economic lives of the related assets.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

1,516,907

DEPRECIATION

At 1 January 2015

332,913

Charge for year

115,809

At 31 December 2015

448,722

NET BOOK VALUE

At 31 December 2015

1,068,185

At 31 December 2014

1,183,994

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2015

477,624

Impairments

(429,756

)

At 31 December 2015

47,868

NET BOOK VALUE

At 31 December 2015

47,868

At 31 December 2014

477,624

The company's investments at the Balance Sheet date in the share capital of companies include the following:

William Coulthard and Company Limited

Nature of business: Engineering

%

Class of shares:

holding

Ordinary

100.00

31/12/15

31/12/14

£

Aggregate capital and reserves

826,552

(121,195

)

Profit/(loss) for the year

947,747

(53,845

)

Airfins Limited

Nature of business: Engineering

%

Class of shares:

holding

Ordinary

100.00

2015

30/6/14

£

Aggregate capital and reserves

-

(1,418,460

)

Loss for the year

-

(710,389

)

Airfins Ltd went into liquidation on 4 March 2015.

Loans

£

At 1 January 2015

479,877

Additions

80,000

At 31 December 2015

559,877

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 0 (2014 - £ 2,585,796 )

5.

CREDITORS

Creditors include an amount of £ 506,717 (2014 - £ 770,294 ) for which security has been given.

They also include the following debts falling due in more than five years:

2015

2014

£

Repayable by instalments

316,663

348,528

Included within creditors due after more than one year are balances of £1,126,540 (2011: £810,540) and

£1,076,539 (2011: £810,540) due to E Dodd and J Coulthard respectively who are directors of the company.

There are no terms for repayment or interest accruing on these balances.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

2

Ordinary

£1

2

7.	RELATED PARTY DISCLOSURES

William Coulthard and Company Limited is a wholly owned subsidiary of Calmor Limited.

Included in the Accounts are the following figures with reference to this subsidiary:

2015 2014

£ £

Sales 730,491 281,362

Purchases 28,958 37,934

Debtors/(creditors) falling due after more than one year (2,378) 1,239,525

On 31 December 2014, a Deed of Waiver was issued by Calmor Limited to write off balances owed by William

Coulthard and Company of £1,374,348. This amount has been written off as a credit to the profit and loss

account.

Airfins Limited is a wholly owned subsidiary of Calmor Limited.

Included in the Accounts are the following figures with reference to this subsidiary:

2015 2014

£ £

Sales 38,673 585,231

Purchases NIL 119,400

Debtors falling due after more than one year NIL 1,346,271

Airfins Limited went into liquidation on 4 March 2015 and amounts owed to Calmor Ltd totalling £1,221,978

(2014: NIL) were written off as a charge to the profit and loss account during the year.

E Dodd and J Coulthard are directors of the company.

Included within creditors due after more than one year are balances of £2,245,442 (2014: £1,911,539) and

£2,026,540 (2014: £1,781,540) due to E Dodd and J Coulthard respectively. There are no terms for repayment

or interest accruing on these balances.

Included within trade creditors are balances owed of £670 (2014: £666) and £362 (2014: £362) due to E Dodd

and J Coulthard respectively in relation to travel expenses incurred.