Company registration number 11235019 (England and Wales)
CARNABY DEVELOPMENTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
CARNABY DEVELOPMENTS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
CARNABY DEVELOPMENTS LTD (REGISTERED NUMBER: 11235019)
BALANCE SHEET
AS AT
31 AUGUST 2023
31 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
1
1
Current assets
Debtors
5
181,608
175,000
Cash at bank and in hand
18,577
37,974
200,185
212,974
Creditors: amounts falling due within one year
6
(197,813)
(196,563)
Net current assets
2,372
16,411
Total assets less current liabilities
2,373
16,412
Creditors: amounts falling due after more than one year
7
(17,233)
(27,500)
Net liabilities
(14,860)
(11,088)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(14,960)
(11,188)
Total equity
(14,860)
(11,088)
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 year ended 31 August 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 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.
CARNABY DEVELOPMENTS LTD (REGISTERED NUMBER: 11235019)
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2023
31 August 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 21 November 2023
N Jones
Director
CARNABY DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 3 -
1
Accounting policies
Company information
Carnaby Developments Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, 399-401 Strand, London, WC2R 0LT.
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 amounts in these financial statements are rounded to the nearest £1.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received for services provided in the normal course of business.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
CARNABY DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 4 -
3
Fixed asset investments
2023
2022
£
£
Other investments other than loans
1
1
4
Subsidiaries
Details of the company's subsidiaries at 31 August 2023 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
N And A Property Limited
4th Floor, 399-401 Strand, London, England, WC2R 0LT
Ordinary
50.00
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
181,608
175,000
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,000
10,000
Other creditors
187,813
186,563
197,813
196,563
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
17,233
27,500
8
Financial commitments, guarantees and contingent liabilities
In the previous year the company borrowed £50,000 from its bankers for a bounce back loan. As part of its loan scheme the UK government has guaranteed the advance and will pay the interest and fees due for the first 12 months. As at the balance sheet date, the balance outstanding to the companies bankers was £27,232.
9
Related party transactions
CARNABY DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
9
Related party transactions
(Continued)
- 5 -
Included within other debtors is an amount owed by a company with common directors of £175,750 (2022: £175,000).
Included within other creditors is an amount owed to the directors' of the company of £186,055 (2022: £184,894 ).