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Registration number: 04581840

Carsons Properties Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Carsons Properties Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Carsons Properties Limited

Company Information

Directors

Mr C Carson

Mr S Carson

Registered office

6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Carsons Properties Limited
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Carsons Properties Limited for the year ended 31 March 2023 as set out on pages 3 to 9 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 at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Carsons Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Carsons Properties Limited and state those matters that we have agreed to state to the Board of Directors of Carsons Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Carsons Properties Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Carsons Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Carsons Properties Limited. You consider that Carsons Properties 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 accounts of Carsons Properties 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 accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

6 November 2023

 

Carsons Properties Limited

(Registration number: 04581840)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

38,707

-

Tangible assets

5

247,972

252,722

 

286,679

252,722

Current assets

 

Stocks

1,625

1,542

Debtors

6

111,392

111,638

Cash at bank and in hand

 

90,941

122,687

 

203,958

235,867

Creditors: Amounts falling due within one year

7

(138,154)

(111,540)

Net current assets

 

65,804

124,327

Total assets less current liabilities

 

352,483

377,049

Creditors: Amounts falling due after more than one year

7

(21,667)

(31,667)

Provisions for liabilities

(10,064)

(10,967)

Net assets

 

320,752

334,415

Capital and reserves

 

Called up share capital

103

103

Other reserves

57,417

57,417

Retained earnings

263,232

276,895

Shareholders' funds

 

320,752

334,415

 

Carsons Properties Limited

(Registration number: 04581840)
Balance Sheet as at 31 March 2023

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 3 November 2023 and signed on its behalf by:
 

.........................................

Mr S Carson

Director

 

Carsons Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
United Kingdom

The principal place of business is:
5 Regent Street
Plymouth
Devon
PL4 8BA

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared using the historical cost convention except as disclosed in the accounting policies certain items are shown at fair value. These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Carsons Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Government grants

Government grants are fair value of the grants received by the government to support the company in the ordinary course of the company's activities.

The company recognises government grant income when the amount of grant can be reliably measured, and it is highly proabable that future economic benefits of the grant will flow to the company.

Where government grants are received for long term commitments and expenses, the amount of grant receievd is time apportioned appropriately, and released to match the relevant cost each year.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

25% reducing balance

Fixtures and fittings

15% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

33% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Carsons Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2022 - 13).

4

Intangible assets

Goodwill
 £

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 April 2022

116,300

-

116,300

Additions acquired separately

-

40,390

40,390

At 31 March 2023

116,300

40,390

156,690

Amortisation

At 1 April 2022

116,300

-

116,300

Amortisation charge

-

1,683

1,683

At 31 March 2023

116,300

1,683

117,983

Carrying amount

At 31 March 2023

-

38,707

38,707

 

Carsons Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2022

195,000

36,186

79,176

56,814

367,176

Additions

-

457

10,436

799

11,692

At 31 March 2023

195,000

36,643

89,612

57,613

378,868

Depreciation

At 1 April 2022

-

31,256

36,931

46,267

114,454

Charge for the year

-

980

12,737

2,725

16,442

At 31 March 2023

-

32,236

49,668

48,992

130,896

Carrying amount

At 31 March 2023

195,000

4,407

39,944

8,621

247,972

At 31 March 2022

195,000

4,930

42,245

10,547

252,722

The freehold property is included at fair value, as provided by the directors.

 

Carsons Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Debtors

2023
£

2022
£

Trade debtors

4,163

4,410

Other debtors

107,229

107,228

111,392

111,638

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10,000

10,000

Trade creditors

 

18,663

26,874

Taxation and social security

 

35,875

56,320

Accruals and deferred income

 

2,965

7,695

Other creditors

 

70,651

10,651

 

138,154

111,540