Calmor Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06795603 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

CALMOR LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

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:

CPT

Chartered Certified Accountants

80 Victoria Road

Darlington

County Durham

DL1 5JG

FIXED ASSETS

Tangible assets

4

878,438

973,312

Investments

5

1

650,002

878,439

1,623,314

CURRENT ASSETS

Debtors

6

3,993

421,078

Cash at bank and in hand

19,158

6,119

23,151

427,197

CREDITORS

Amounts falling due within one year

7

601,037

693,892

NET CURRENT LIABILITIES

(577,886

)

(266,695

)

TOTAL ASSETS LESS CURRENT LIABILITIES

300,553

1,356,619

CREDITORS

Amounts falling due after more than one year

8

(4,340,258

)

(5,086,221

)

ACCRUALS AND DEFERRED INCOME

(132,500

)

(142,500

)

NET LIABILITIES

(4,172,205

)

(3,872,102

)

CAPITAL AND RESERVES

Called up share capital

650,002

2

Retained earnings

(4,822,207

)

(3,872,104

)

SHAREHOLDERS' FUNDS

(4,172,205

)

(3,872,102

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 25 June 2018 and were signed on its behalf by:

E Dodd - Director

1.	STATUTORY INFORMATION

Calmor Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

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 and bankers during

this time.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that

it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or

substantively enacted by 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 profit or loss 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2016 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 January 2017

and 31 December 2017

1,300,468

201,971

14,468

1,516,907

DEPRECIATION

At 1 January 2017

371,931

157,196

14,468

543,595

Charge for year

65,024

29,850

-

94,874

At 31 December 2017

436,955

187,046

14,468

638,469

NET BOOK VALUE

At 31 December 2017

863,513

14,925

-

878,438

At 31 December 2016

928,537

44,775

-

973,312

5.	FIXED ASSET INVESTMENTS

2017

2016

£

£

Shares in group undertakings

1

2

Participating interests

-

123

Loans to undertakings in which the company has a participating interest

-

649,877

1

650,002

Additional information is as follows:

Interest

Shares in

in other

group

participating

undertakings

interests

Totals

£

£

£

COST

At 1 January 2017

2

123

125

Disposals

(1

)

-

(1

)

Impairments

-

(123

)

(123

)

At 31 December 2017

1

-

1

NET BOOK VALUE

At 31 December 2017

1

-

1

At 31 December 2016

2

123

125

Loans to

other

participating

interests

£

At 1 January 2017

649,877

Other movement

(649,877

)

At 31 December 2017

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

-

5,074

Other debtors

-

408,000

VAT

2,934

-

Prepayments

1,059

8,004

3,993

421,078

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

581,292

676,733

Trade creditors

9,493

4,176

Tax

-

3,637

Social security and other taxes

5,149

4,083

VAT

-

924

Other creditors

2,103

1,339

Accrued expenses

3,000

3,000

601,037

693,892

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 1-2 years

37,631

38,142

Bank loans - 2-5 years

121,727

123,381

Bank loans - > 5 years

233,948

268,577

Amounts owed to group undertakings

1,213,858

951,331

Directors' loan accounts

2,733,094

3,704,790

4,340,258

5,086,221

Amounts falling due in more than five years:

Repayable by instalments

Bank loans - > 5 years

233,948

268,577

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

545,044

639,993

Bank loans

429,554

466,840

974,598

1,106,833

Barclays Bank plc holds fixed and floating charges over the assets of Calmor Limited and of its subsidiary

William Coulthard and Company Limited.

Tees Valley Catalyst Fund L.P. acting by way of its general partner Tvupb Limited, acting by Fw Capital

Limited holds fixed and floating charges over the assets of Calmor Limited and of its subsidiary William

Coulthard and Company Limited. There are no creditors secured against this particular charge.

10.	RELATED PARTY DISCLOSURES

William Coulthard and Company Limited and Airfins Limited, private companies limited by shares and

registered in England and Wales, are wholly owned subsidiaries of Calmor Limited. Airfins Limited was

dissolved on 24 August 2017.

Included within creditors due after more than one year are balances of £1,376,554 (2016: £2,003,251) and

£1,356,540 (2016: £1,701,540) due to the directors. There are no terms for repayment or interest accruing on

these balances.

Included within trade creditors are balances owed of £339 (2016: £286) and £488 (2016: £392) due to the

directors in relation to travel expenses incurred.

11.	ULTIMATE CONTROLLING PARTY

The company has no ultimate controlling party.