Calimero Trading Limited
Unaudited Financial Statements
For the period ended 31 July 2023
Pages for Filing with Registrar
Company Registration No. 14219383 (England and Wales)
Calimero Trading Limited
Balance Sheet
As at 31 July 2023
Page 1
2023
Notes
£
£
Current assets
Debtors
3
19,263
Cash at bank and in hand
239,341
258,604
Creditors: amounts falling due within one year
4
(1,511,691)
Net current liabilities
(1,253,087)
Capital and reserves
Called up share capital
5
100
Profit and loss reserves
(1,253,187)
Total equity
(1,253,087)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 9 February 2024 and are signed on its behalf by:
S Fatic
Director
Company Registration No. 14219383
Calimero Trading Limited
Notes to the Financial Statements
For the period ended 31 July 2023
Page 2
1
Accounting policies
Company information
Calimero Trading Limited is a private company limited by shares incorporated in England and Wales. The registered office is .
1.1
Reporting period
The annual financial statements are presented for a period longer than one year, due to the company being incorporated on 6 July 2022.
1.2
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Going concern
During the company's first period of trading it spent a significant time supporting developing its product. This has led to a loss during the year and had net liabilities of £1,253,087 at the Balance Sheet date. Throughout the year the company has been supported by its parent company, Calimero Limited, with £1,507,941 include in creditors at the Balance Sheet date.
Calimero Limited has confirmed it will continue to provide the necessary financial support to Calimero Trading Limited to enable it to continue as a going concern for a period of at least twelve months from the date of approval of the financial statements and to enable the company to meet its liabilities as they fall due.
On the basis of the company's financial position and the support provided by Calimero Limited, the directors have a reasonable expectation that, the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company only has basic financial instruments measured at amortised cost, with no financial
instruments classified as other or basic instruments measured at fair value.
Calimero Trading Limited
Notes to the Financial Statements (Continued)
For the period ended 31 July 2023
1
Accounting policies
(Continued)
Page 3
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
Number
Total
3
Debtors
2023
Amounts falling due within one year:
£
Other debtors
4,839
Prepayments and accrued income
14,424
19,263
4
Creditors: amounts falling due within one year
2023
£
Amounts owed to group undertakings
1,507,941
Accruals and deferred income
3,750
1,511,691
5
Called up share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
Calimero Trading Limited
Notes to the Financial Statements (Continued)
For the period ended 31 July 2023
5
Called up share capital
(Continued)
Page 4
6
Related party transactions
At the year end the company owed £1,507,941 to Calimero Limited, its parent company |