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REGISTERED NUMBER: 05470229 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 January 2023

for

CARTERS (FURNISHINGS) LIMITED

CARTERS (FURNISHINGS) LIMITED (REGISTERED NUMBER: 05470229)

Contents of the Financial Statements
for the year ended 31 January 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

CARTERS (FURNISHINGS) LIMITED

Company Information
for the year ended 31 January 2023







Director: J M Randle





Registered office: 1141A Axis Centre
Cleeve Road
Leatherhead
Surrey
KT22 7RD





Registered number: 05470229 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
Aissela
46 High Street
Esher
Surrey
KT10 9QY

CARTERS (FURNISHINGS) LIMITED (REGISTERED NUMBER: 05470229)

Balance Sheet
31 January 2023

2023 2022
Notes £ £ £ £
Fixed assets
Investments 4 1,873,490 1,873,490

Current assets
Debtors 5 - 3,791
Cash at bank 1 1
1 3,792
Creditors
Amounts falling due within one year 6 1,608,823 1,876,215
Net current liabilities (1,608,822 ) (1,872,423 )
Total assets less current liabilities 264,668 1,067

Capital and reserves
Called up share capital 7 1,000 1,000
Retained earnings 263,668 67
Shareholders' funds 264,668 1,067

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 October 2023 and were signed by:





J M Randle - Director


CARTERS (FURNISHINGS) LIMITED (REGISTERED NUMBER: 05470229)

Notes to the Financial Statements
for the year ended 31 January 2023


1. Statutory information

Carters (Furnishings) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have considered the impact of and response to the Covid19 pandemic, including the company's available resources and ability to adjust the company's operations as required. The company will be able to continue to operate for the foreseeable future.

Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. The financial statements do not include any adjustments to the value of the balance sheet which would result should the going concern basis not be valid.

Preparation of consolidated financial statements
The financial statements contain information about Carters (Furnishings) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Key source of estimation, uncertainty and judgement
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Impairment of debtors
The company makes an estimate of the recoverable value of debtors. When assessing impairment of debtors, management considers multiple factors regarding their recoverability.

Financial instruments
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 at initial recognition at transaction price. 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 and bank overdrafts.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.


CARTERS (FURNISHINGS) LIMITED (REGISTERED NUMBER: 05470229)

Notes to the Financial Statements - continued
for the year ended 31 January 2023


2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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 year end and that are expected to apply to the reversal of the timing difference.

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.

3. Employees and directors

The average number of employees during the year was NIL (2022 - NIL).

4. Fixed asset investments
Other
investments
£
Cost
At 1 February 2022
and 31 January 2023 1,873,490
Net book value
At 31 January 2023 1,873,490
At 31 January 2022 1,873,490

5. Debtors: amounts falling due within one year
2023 2022
£ £
Other debtors - 3,264
Prepayments - 527
- 3,791

6. Creditors: amounts falling due within one year
2023 2022
£ £
Amounts owed to group undertakings 1,544,092 1,856,300
Tax 61,956 -
Other creditors - 17,215
Accrued expenses 2,775 2,700
1,608,823 1,876,215

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
1,000 Ordinary £1 1,000 1,000

8. Related party disclosures

The company has taken advantage of exemptions within Financial Reporting Standard 102 (Section 1A) in respect of transactions with wholly owned group undertakings.

CARTERS (FURNISHINGS) LIMITED (REGISTERED NUMBER: 05470229)

Notes to the Financial Statements - continued
for the year ended 31 January 2023


9. Ultimate controlling party

At the reporting date, Jail Holdings Ltd was the ultimate controlling party.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Carters (Furnishings) Limited


The following reproduces the text of the report prepared for the director 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 Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Carters (Furnishings) Limited for the year ended 31 January 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

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.

This report is made solely to the director of Carters (Furnishings) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Carters (Furnishings) Limited and state those matters that we have agreed to state to the director of Carters (Furnishings) Limited 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 Carters (Furnishings) Limited and its director for our work or for this report.

It is your duty to ensure that Carters (Furnishings) 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 profit of Carters (Furnishings) Limited. You consider that Carters (Furnishings) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Carters (Furnishings) 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.






Haines Watts
Chartered Accountants
Aissela
46 High Street
Esher
Surrey
KT10 9QY


14 October 2023