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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 JANUARY 2018 TO 30 DECEMBER 2018 |
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FOR |
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CELVAM MANAGEMENT LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 JANUARY 2018 TO 30 DECEMBER 2018 |
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FOR |
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CELVAM MANAGEMENT LIMITED |
CELVAM MANAGEMENT LIMITED (REGISTERED NUMBER: 10274795) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2018 TO 30 DECEMBER 2018 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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Chartered Accountants' Report | 8 |
CELVAM MANAGEMENT LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 1 JANUARY 2018 TO 30 DECEMBER 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Russell House |
140 High Street |
Edgware |
Middlesex |
HA8 7LW |
CELVAM MANAGEMENT LIMITED (REGISTERED NUMBER: 10274795) |
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STATEMENT OF FINANCIAL POSITION |
30 DECEMBER 2018 |
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2018 | 2017 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | 9 | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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CELVAM MANAGEMENT LIMITED (REGISTERED NUMBER: 10274795) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2018 TO 30 DECEMBER 2018 |
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1. | STATUTORY INFORMATION |
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Celvam Management Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Taxation |
Taxation for the period comprises current and deferred 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. |
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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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position 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 period 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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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. |
CELVAM MANAGEMENT LIMITED (REGISTERED NUMBER: 10274795) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2018 TO 30 DECEMBER 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Going concern |
The financial statements have been prepared under the going concern basis. This is deemed to be appropriate |
due to the ongoing support of the parent company. |
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Interest Payable |
Interest payable is charged to the profit and loss account on an accruals basis. |
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Financial Instruments |
The company has elected to apply the provisions of Section 11 ' Basic Financial Instruments' and ' Section 12 ' |
Other Financial Instruments Issues' of FRS 102 to all its financial instruments. |
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Financial instruments are recognised in the company's Statement of Financial Position when the company |
becomes party to the contractual provisions of the instrument. |
CELVAM MANAGEMENT LIMITED (REGISTERED NUMBER: 10274795) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2018 TO 30 DECEMBER 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Financial assets and liabilities are offset , with the net amounts presented in the financial statements when there |
is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis |
or to realise the asset and settle the liability simultaneously. |
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Basic financial assets |
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured |
at transaction price including transaction and where material are subsequently measured at amortised cost using |
the effective interest method, less any impairment. |
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Other financial assets |
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint |
ventures, are initially measured at fair value, which is normally the transaction price. Such assets are |
subsequently carried at fair value and where material the changes in fair value are recognised in the Statement |
of Total Comprehensive Income, except that investments in equity instruments that are not publicly traded and |
whose fair value cannot be measured reliably are measured at cost less impairment |
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Interest is recognised by applying the effective interest rate, except for short-term receivables when the |
recognition of interest would be immaterial. The effective interest method is a method of calculating the |
amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective |
interest rate is the rate that exactly discounts estimated future cash receipts through the life of the debt |
instrument to the net carrying amount on initial recognition |
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Impairment of financial assets |
Financial assets, other than those held at fair value are assessed for indicators of impairment at each reporting |
end date. |
Financial assets are impaired where there is objective evidence that, as a result of one or more events that |
occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. |
The impairment loss is recognised in the Statement of Total Comprehensive Income |
Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or |
when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity |
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Basic financial liabilities |
Basic financial liabilities, including trade and other payables and loans from company undertakings that are |
classified as debt are initially measured at transaction price unless the arrangement constitutes a financing |
transaction, where the debt instrument is measured at the present value of the future payments discounted at |
the market rate of interest . |
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Trade creditors are obligations to pay for goods or services that have been acquired that have been acquired in |
the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a |
payment is due within one year or less. If not, they are present as non current liabilities. Short term creditors are |
initially recognised at transaction price and where material are subsequently measured at amortised cost using |
the effective interest method |
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Derecognition of financial liabilities |
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, |
or they expire. |
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Cash and cash equivalents |
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid |
investments with original maturities of three months or less. |
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Equity instruments |
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of |
the company. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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CELVAM MANAGEMENT LIMITED (REGISTERED NUMBER: 10274795) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2018 TO 30 DECEMBER 2018 |
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2018 |
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Additions |
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At 30 December 2018 |
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AMORTISATION |
At 1 January 2018 |
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Charge for period |
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At 30 December 2018 |
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NET BOOK VALUE |
At 30 December 2018 |
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At 31 December 2017 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 January 2018 |
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Additions |
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At 30 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for period |
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At 30 December 2018 |
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NET BOOK VALUE |
At 30 December 2018 |
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At 31 December 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
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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CELVAM MANAGEMENT LIMITED (REGISTERED NUMBER: 10274795) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2018 TO 30 DECEMBER 2018 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1 | 1 | 1 |
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9. | RESERVES |
Retained |
earnings |
£ |
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At 1 January 2018 | ( |
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Deficit for the period | ( |
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At 30 December 2018 | ( |
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10. | RELATED PARTY DISCLOSURES |
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Celvam Capital Limited |
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A company under common control |
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2018 | 2017 |
£ | £ |
Amount due to related party at the balance sheet date | 1,614,795 | 624,185 |
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11. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
CELVAM MANAGEMENT LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary |
statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Celvam Management Limited for the period ended 30 December 2018 which comprise the |
Income Statement, Statement of Financial Position and the related notes from the company's accounting records and |
from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Celvam Management Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Celvam Management Limited and state those matters that we have agreed to state to the Board of Directors of Celvam Management Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Celvam Management Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Celvam Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Celvam Management Limited. You consider that Celvam Management Limited is exempt from the statutory audit requirement for the period. |
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We have not been instructed to carry out an audit or a review of the financial statements of Celvam Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
Russell House |
140 High Street |
Edgware |
Middlesex |
HA8 7LW |
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