Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falsefalsemotor sport retail103trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07165300 2022-04-01 2023-03-31 07165300 2021-04-01 2022-03-31 07165300 2023-03-31 07165300 2022-03-31 07165300 c:Director1 2022-04-01 2023-03-31 07165300 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 07165300 d:Buildings d:LongLeaseholdAssets 2023-03-31 07165300 d:Buildings d:LongLeaseholdAssets 2022-03-31 07165300 d:PlantMachinery 2022-04-01 2023-03-31 07165300 d:PlantMachinery 2023-03-31 07165300 d:PlantMachinery 2022-03-31 07165300 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07165300 d:FurnitureFittings 2022-04-01 2023-03-31 07165300 d:FurnitureFittings 2023-03-31 07165300 d:FurnitureFittings 2022-03-31 07165300 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07165300 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07165300 d:CurrentFinancialInstruments 2023-03-31 07165300 d:CurrentFinancialInstruments 2022-03-31 07165300 d:Non-currentFinancialInstruments 2023-03-31 07165300 d:Non-currentFinancialInstruments 2022-03-31 07165300 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07165300 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07165300 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07165300 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 07165300 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 07165300 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 07165300 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 07165300 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 07165300 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 07165300 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-03-31 07165300 d:ShareCapital 2023-03-31 07165300 d:ShareCapital 2022-03-31 07165300 d:RetainedEarningsAccumulatedLosses 2023-03-31 07165300 d:RetainedEarningsAccumulatedLosses 2022-03-31 07165300 c:OrdinaryShareClass1 2022-04-01 2023-03-31 07165300 c:OrdinaryShareClass1 2023-03-31 07165300 c:OrdinaryShareClass1 2022-03-31 07165300 c:OrdinaryShareClass2 2022-04-01 2023-03-31 07165300 c:OrdinaryShareClass2 2023-03-31 07165300 c:OrdinaryShareClass2 2022-03-31 07165300 c:OrdinaryShareClass3 2022-04-01 2023-03-31 07165300 c:OrdinaryShareClass3 2023-03-31 07165300 c:OrdinaryShareClass3 2022-03-31 07165300 c:FRS102 2022-04-01 2023-03-31 07165300 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 07165300 c:FullAccounts 2022-04-01 2023-03-31 07165300 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 07165300









CARBONIQUE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
CARBONIQUE LIMITED
REGISTERED NUMBER: 07165300

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
21,767
26,563

Current assets
  

Stocks
 5 
156,000
106,000

Debtors: amounts falling due within one year
 6 
30,728
12,393

Cash at bank and in hand
 7 
1,000
37,314

  
187,728
155,707

Creditors: amounts falling due within one year
 8 
(115,144)
(101,890)

Net current assets
  
 
 
72,584
 
 
53,817

Creditors: amounts falling due after more than one year
 9 
(80,406)
(74,596)

  

Net assets
  
13,945
5,784


Capital and reserves
  

Called up share capital 
 11 
150
150

Profit and loss account
  
13,795
5,634

  
13,945
5,784


Page 1

 
CARBONIQUE LIMITED
REGISTERED NUMBER: 07165300
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 on 2 October 2023.




A Reade
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CARBONIQUE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Carbonique Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is Charles Lake House, Claire Causeway, Crossways Business Park, Dartford, Kent, DA2 6QA. The principal activity of the company continued to be that of motor sport retail.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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:

 
2.2

Going concern

The company's day to day working capital requirements are met by loans from the director and this support is expected to continue for the foreseeable future.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

Page 3

 
CARBONIQUE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to the Statement of comprehensive income 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.

 
2.6

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

 
2.7

Taxation

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.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, provided on the following bases.

Depreciation is provided on the following bases:

Long-term leasehold property
-
Over the remaining term of the lease
Plant and machinery
-
25% on reducing balance
Fixtures, fittings and equipment
-
25% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.



Page 4

 
CARBONIQUE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

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.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2022 - 3).

Page 5

 
CARBONIQUE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Land and buildings
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 April 2022
20,002
55,570
19,103
94,675


Additions
-
3,064
1,473
4,537



At 31 March 2023

20,002
58,634
20,576
99,212



Depreciation


At 1 April 2022
17,925
33,676
16,511
68,112


Charge for the year on owned assets
2,077
6,241
1,015
9,333



At 31 March 2023

20,002
39,917
17,526
77,445



Net book value



At 31 March 2023
-
18,717
3,050
21,767



At 31 March 2022
2,077
21,894
2,592
26,563

Page 6

 
CARBONIQUE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Stocks

2023
2022
£
£

Goods for resale
156,000
106,000



6.


Debtors

2023
2022
£
£


Trade debtors
4,652
12,393

Other debtors
25,092
-

Prepayments and accrued income
984
-

30,728
12,393



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,000
37,314

Less: bank overdrafts
(3,659)
-



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
3,659
-

Bank loans
19,188
18,296

Trade creditors
24,738
16,940

Corporation tax
9,337
3,023

Other taxation and social security
15,198
6,967

Other creditors
39,399
53,039

Accruals and deferred income
3,625
3,625

115,144
101,890




Page 7

 
CARBONIQUE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
80,406
74,596



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
19,188
18,296

Amounts falling due 1-2 years

Bank loans
20,134
19,186

Amounts falling due 2-5 years

Bank loans
60,272
52,760

Amounts falling due after more than 5 years

Bank loans
-
2,650

99,594
92,892


Bank loans are secured against the fixed assets of the company.


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



50 (2022 - 50) Ordinary A shares of £1.00 each
50
50
50 (2022 - 50) Ordinary B shares of £1.00 each
50
50
50 (2022 - 50) Ordinary C shares of £1.00 each
50
50

150

150



12.


Related party transactions

Included within other creditors due within one year is an amount of £33,052 (2022 - £51,328) due to a director of the company.

 
Page 8