Company registration number 08896321 (England and Wales)
CALEDONIA BALD EAGLE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
CALEDONIA BALD EAGLE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CALEDONIA BALD EAGLE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Investments
3
32,657
32,109
Current assets
Cash at bank and in hand
11,100
11,444
Creditors: amounts falling due within one year
5
(14,460)
(12,240)
Net current liabilities
(3,360)
(796)
Net assets
29,297
31,313
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
28,297
30,313
Total equity
29,297
31,313
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year 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 20 December 2022 and are signed on its behalf by:
Ms D Sagenkahn
Director
Company Registration No. 08896321
CALEDONIA BALD EAGLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 2 -
1
Accounting policies
Company information
Caledonia Bald Eagle Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
82 St John Street, London, EC1M 4JN.
1.1
Accounting convention
These financial statements have been prepared in accordance with 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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Fixed asset investments
Fixed asset investments, which include unitised investments are measured initially at fair value which is normally the transaction price. Subsequently, such investments are measured at fair value with changes in fair value charged or credited to profit or loss. Fair value is determined by reference to active market prices.
1.3
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand
.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments
'
of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
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.
Basic financial assets
Basic financial assets, which include cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method 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.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including
creditors,
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
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
CALEDONIA BALD EAGLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 3 -
1.5
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.
1.6
Taxation
The tax expense represents the sum
of tax in relation to prior year adjustment and
deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
2
2
3
Fixed asset investments
2022
2021
£
£
Other investments other than loans
32,657
32,109
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2021
32,109
Valuation changes
548
At 31 March 2022
32,657
Carrying amount
At 31 March 2022
32,657
At 31 March 2021
32,109
CALEDONIA BALD EAGLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 4 -
4
Financial instruments
2022
2021
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
32,657
32,109
5
Creditors: amounts falling due within one year
2022
2021
£
£
Corporation tax
69
Other creditors
14,460
12,171
14,460
12,240
6
Related party transactions
At the balance sheet date, the company owed JR McAslan CBE, a director and shareholder of the company, the sum of £12,300 (2021: £10,071). The loan is interest free and repayable on demand.