Registered number: 10010712
CALLAGENIX LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE 13-MONTH PERIOD ENDED 30 APRIL 2023
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CALLAGENIX LIMITED
REGISTERED NUMBER:10010712
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BALANCE SHEET
AS AT 30 APRIL 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Creditors: amounts falling due after more than one year
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Shareholders' (deficit)/funds
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The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The Company has opted not to file the Statement of Comprehensive Income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 7 form part of these financial statements.
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STATEMENT OF CHANGES IN EQUITY
FOR THE 13-MONTH PERIOD ENDED 30 APRIL 2023
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Comprehensive loss for the year
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Comprehensive loss for the 13-month period
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Loss for the 13-month period
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE 13-MONTH PERIOD ENDED 30 APRIL 2023
Callagenix Limited is a private company, limited by shares, domiciled and incorporated in England and Wales (registered number: 10010712). The registered office address is Bridgford House, Heyes Lane, Alderley Edge, Cheshire, SK9 7JP.
On 6 January 2023, 100% of the issued share capital of the company was acquired by Chess ICT Limited. Further details are provided in note 9.
The Company extended its accounting period end from March 2023 to April 2023 in order to align its period end with the group that it is a part of. As a result, the prior year numbers are not directly comparable.
The Company's functional and presentational currency is GBP.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The directors have considered the principal risks and uncertainties facing the Company and has established policies for managing these. The directors have prepared a cash flow forecast covering the period to 30 April 2025 which, taking into account the support from the ultimate parent company that the Company relies on and all reasonably possible changes in trading that the Company should be able to meets its liabilities as they fall due. As at 30 April 2023, the Company has net current assets of £7,925 (year ended 31 March 2022 - £33,758). This business generated a loss after tax of £15,000 in the financial period (year ended 31 March 2022 - £1,307).
The Company has received confirmation from the ultimate parent company that it will provide adequate support to enable the Company to meet its liabilities as they fall due. The directors therefore have a reasonable expectation that the Company has adequate resources to continue in operational existence for the 12 months post signing. On the basis of the above, the directors have prepared the financial statements on a going concern basis.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE 13-MONTH PERIOD ENDED 30 APRIL 2023
2.Accounting policies (continued)
Turnover represents net invoiced sales of services, excluding value added tax. Turnover is recognised when the company obtains the right to consideration.
Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of turnover can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument.
Trade and other debtors and creditors are classified as basic financial instruments and measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management.
Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.
Interest bearing bank loans, overdrafts and other loans which meet the criteria to be classified as basic financial instruments are initially recorded at the present value of cash payable to the bank, which is ordinarily equal to the proceeds received net of direct issue costs. These liabilities are subsequently measured at amortised cost, using the effective interest rate method.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE 13-MONTH PERIOD ENDED 30 APRIL 2023
2.Accounting policies (continued)
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
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The Company has no employees other than the directors, who did not receive any remuneration (13 -
month period ended 30 April 2022 - 3).
The directors are also directors of other group companies and are remunerated through another group company.
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE 13-MONTH PERIOD ENDED 30 APRIL 2023
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Creditors: Amounts falling due after more than one year
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due 2-5 years
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Related party transactions
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The Company has taken advantage of the exemption in FRS 102 Section 33.1A to not disclose transactions with wholly owned group entities.
During the period ended 30 April 2023, the Company made sales of £3,996 (year ended 31 March 2022 - £2,760) to Occuity Ltd, a company with a common director. There were no balances outstanding at the period-end (2022 - £Nil).
During the period ended 30 April 2023, the Company made purchases of £Nil (year ended 31 March 2022 - £94) from Occuity Ltd. There were no balances outstanding at the period end (2022 - £Nil).
During the period ended 30 April 2023, the Company made purchases of £1,707 (year ended 31 March 2022 - £1,142) from Clinic Appointments Ltd, a company with common directors. There were no balances outstanding at the period end (2022 - £Nil).
During the period ended 30 April 2023, the Company made sales of £561,070 to Commi Holdings Limited, a company with common directors. At the period end, a balance of £159,398 (2022 - £68,600) was due to the Company.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE 13-MONTH PERIOD ENDED 30 APRIL 2023
Up to 5 January 2023, the ultimate controlling party was M K Jenkins, by virtue of his majority shareholding in the company.
From 6 January 2023, the immediate parent undertaking is Chess ICT Limited, and the ultimate parent company is Chess Limited. Both parent undertakings are companies registered in England and Wales.
The largest and smallest group of undertakings for which group accounts for the year ending 30 April 2023 have been drawn up, is that headed by Chess Limited. The registered office address of Chess Limited is Bridgford House, Heyes Lane, Alderley Edge, Cheshire, SK9 7JP. Copies of the group accounts are available from Companies House.
The ultimate controlling party is C D Pollock, by virtue of their shareholding and directorship in the ultimate parent undertaking.
The auditor's report on the financial statements for the 13-month period ended 30 April 2023 was unqualified.
The audit report was signed on 20 February 2024 by Stephen Drew (Senior Statutory Auditor) on behalf of CLA Evelyn Partners Limited.
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