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Financial Statements |
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for the Year Ended 31 December 2017 |
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for |
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KALIBER MARKETING (HOLDINGS) LIMITED |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 December 2017 |
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for |
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KALIBER MARKETING (HOLDINGS) LIMITED |
KALIBER MARKETING (HOLDINGS) LIMITED (REGISTERED NUMBER: 04528244) |
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Contents of the Financial Statements |
for the year ended 31 December 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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KALIBER MARKETING (HOLDINGS) LIMITED |
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Company Information |
for the year ended 31 December 2017 |
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Directors: |
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Registered office: |
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Registered number: |
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Auditors: |
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Northern Assurance Buildings |
9-21 Princess Street |
Manchester |
M2 4DN |
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Bankers: |
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PO Box No 305 |
Spring Gardens |
Manchester |
M60 2DB |
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Solicitors: |
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County Chambers |
6 Chestergate |
Macclesfield |
Cheshire |
SK11 6BA |
KALIBER MARKETING (HOLDINGS) LIMITED (REGISTERED NUMBER: 04528244) |
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Balance Sheet |
31 December 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 5 |
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Tangible assets | 6 |
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Investments | 7 |
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Current assets |
Stocks |
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Debtors | 8 |
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Cash at bank and in hand |
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Creditors |
Amounts falling due within one year | 9 |
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Net current (liabilities)/assets | ( |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than one
year |
10 |
( |
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( |
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Provisions for liabilities | ( |
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Net assets |
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Capital and reserves |
Called up share capital |
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Share premium |
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Capital redemption reserve |
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Retained earnings |
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Shareholders' funds |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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KALIBER MARKETING (HOLDINGS) LIMITED (REGISTERED NUMBER: 04528244) |
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Notes to the Financial Statements |
for the year ended 31 December 2017 |
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1. | Statutory information |
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Kaliber Marketing (Holdings) Limited is a
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The company's registered number and registered office address can be found on the Company Information |
page. |
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2. | Statement of compliance |
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3. | Accounting policies |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about Kaliber Marketing (Holdings) Limited as an individual |
company and do not contain consolidated financial information as the parent of a group. The company is exempt |
under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial |
statements. |
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Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, |
including expectations of future events that are believed to be reasonable under the circumstances. |
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There are not considered to be any critical judgements in applying the company's accounting policies. |
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The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, |
by definition, seldom equal the related actual results. The estimates and assumptions which have a significant |
risk of causing a material adjustment to the carrying amounts of assets or liabilities within the next financial year |
are addressed below. |
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i) Stock provisions |
Certain of the company's products are subject to changing consumer demands. As a result it is necessary to |
consider the recoverability of the cost of stocks and the associated provision required. When calculating the |
provision management considers the nature and condition of the stocks, as well as applying assumptions around |
the saleability of finished goods and future usage of raw materials. |
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ii) Impairment of goodwill |
The company considers whether goodwill is impaired. Where an indication of impairment is identified the |
estimation of recoverable value requires estimation of the recoverable value of the businesses. This requires |
estimation of the future cash flows from the businesses and also selection of appropriate discount rates in order |
to calculate the net present value of those cash flows. |
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Going concern |
The company made a net profit of £77,453 for the year ended 31 December 2017 but at that date had net |
current liabilities of £874,286. The company is dependent, in the absence of other funding, on the continued |
support of its subsidiary, Universal Arches Limited, the bank and key suppliers. All have confirmed their |
commitment to provide the necessary support. |
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On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis. |
The financial statements do not include any adjustments that might be necessary if the directors, its subsidiary |
and key suppliers were not to provide further support. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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The company recognises turnover on delivery of goods to customers |
KALIBER MARKETING (HOLDINGS) LIMITED (REGISTERED NUMBER: 04528244) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2017 |
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3. | Accounting policies - continued |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of separate businesses in 2002 and 2014, is |
being amortised evenly over their estimated useful lives of twenty and ten years respectively. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition |
for its intended use, dismantling and restoration costs and borrowing costs capitalised. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Financial instruments |
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
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(i) Financial assets |
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Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at |
transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured |
at the present value of the future receipts discounted at a market rate of interest. |
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Such assets are subsequently carried at amortised cost using the effective interest method. |
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At the end of each reporting period financial assets measured at amortised cost are assessed for objective |
evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying |
amount and the present value of the estimated cash flows discounted at the asset's original effective interest |
rate. The impairment loss is recognised in the profit or loss. |
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There are no assets which are initially measured at fair value. |
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If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised |
the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the |
carrying amount would have been had the impairment not previously been recognised. The impairment reversal |
is recognised in profit and loss. |
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(ii) Financial liabilities |
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Basic financial liabilities, including trade and other creditors and bank loans that are classified as debt, are |
initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the |
debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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KALIBER MARKETING (HOLDINGS) LIMITED (REGISTERED NUMBER: 04528244) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2017 |
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3. | Accounting policies - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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. |
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Incentives received to enter into an operating lease are credited to the profit and loss account, to reduce the |
lease expense, on a straight-line basis over the period of the lease. |
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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. |
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4. | Employees and directors |
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The average number of employees during the year was
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5. | Intangible fixed assets |
Goodwill |
£ |
Cost |
At 1 January 2017 |
and 31 December 2017 |
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Amortisation |
At 1 January 2017 |
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Charge for year |
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At 31 December 2017 |
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Net book value |
At 31 December 2017 |
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At 31 December 2016 |
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KALIBER MARKETING (HOLDINGS) LIMITED (REGISTERED NUMBER: 04528244) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2017 |
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6. | Tangible fixed assets |
Plant and |
machinery |
etc |
£ |
Cost |
At 1 January 2017 |
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Additions |
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Disposals | ( |
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At 31 December 2017 |
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Depreciation |
At 1 January 2017 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 December 2017 |
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Net book value |
At 31 December 2017 |
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At 31 December 2016 |
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7. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
Additions |
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At 31 December 2017 |
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Net book value |
At 31 December 2017 |
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8. | Debtors: amounts falling due within one year |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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9. | Creditors: amounts falling due within one year |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts (see note 11) |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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KALIBER MARKETING (HOLDINGS) LIMITED (REGISTERED NUMBER: 04528244) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2017 |
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10. | Creditors: amounts falling due after more than one year |
2017 | 2016 |
£ | £ |
Bank loans |
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Hire purchase contracts (see note 11) |
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11. | Leasing agreements |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
2017 | 2016 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable |
operating leases |
2017 | 2016 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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12. | Secured debts |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank overdraft |
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Bank loans |
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Hire purchase contracts | 473,340 | 160,572 |
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The bank overdraft and bank loans are secured by debentures over the assets of the company. The hire |
purchase contracts are secured over the assets to which they relate. |
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13. | Disclosure under Section 444(5B) of the Companies Act 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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KALIBER MARKETING (HOLDINGS) LIMITED (REGISTERED NUMBER: 04528244) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2017 |
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14. | Directors' advances, credits and guarantees |
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The following advances and credits to a director subsisted during the years ended 31 December 2017 and |
31 December 2016: |
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2017 | 2016 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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The above loan is interest free. |
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15. | Related party disclosures |
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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. |
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One of the directors has given a personal guarantee amounting to £100,000 in respect of the bank loan. |
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16. | Post balance sheet events |
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A director resigned on 12 February 2018 and, as a result, the company will purchase his shareholding. The |
consideration is yet to be determined. |
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17. | Pension schemes |
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Defined contribution pension scheme |
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The company operates a defined contribution pension scheme. The pension cost charge for the year represents |
contributions payable by the company to the scheme and amounted to £16,390 (2016 - £114,691). |
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Contributions totalling £nil (2016 - £1,163) were payable to the scheme at the end of the year and are included in |
creditors. |