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REGISTERED NUMBER: 09180851 (England and Wales)















CARTER OSBORNE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






CARTER OSBORNE LIMITED (REGISTERED NUMBER: 09180851)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CARTER OSBORNE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr A W Evans
Mr A J Gibson
Mr R Veja
Mr L A Muir
Mr N J Clark





REGISTERED OFFICE: 59 Midland Road
Wellingborough
Northamptonshire
NN8 1HF





REGISTERED NUMBER: 09180851 (England and Wales)





ACCOUNTANTS: Blencowes
15 High Street
Brackley
Northamptonshire
NN13 7DH

CARTER OSBORNE LIMITED (REGISTERED NUMBER: 09180851)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 402,030 537,290
Tangible assets 5 57,439 178,469
459,469 715,759

CURRENT ASSETS
Debtors 6 269,759 228,412
Cash at bank and in hand 199,788 970,097
469,547 1,198,509
CREDITORS
Amounts falling due within one year 7 283,169 286,394
NET CURRENT ASSETS 186,378 912,115
TOTAL ASSETS LESS CURRENT
LIABILITIES

645,847

1,627,874

CREDITORS
Amounts falling due after more than one
year

8

(21,645

)

(31,656

)

PROVISIONS FOR LIABILITIES (7,280 ) (3,208 )
NET ASSETS 616,922 1,593,010

CAPITAL AND RESERVES
Called up share capital 10 390 345
Share premium 25,955 25,955
Revaluation reserve 11 398,280 531,040
Retained earnings 192,297 1,035,670
SHAREHOLDERS' FUNDS 616,922 1,593,010

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

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

The directors acknowledge their 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.

CARTER OSBORNE LIMITED (REGISTERED NUMBER: 09180851)

BALANCE SHEET - continued
31 MARCH 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2023 and were signed on its behalf by:




Mr A J Gibson - Director



Mr L A Muir - Director


CARTER OSBORNE LIMITED (REGISTERED NUMBER: 09180851)

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

1. STATUTORY INFORMATION

Carter Osborne 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1 sterling .

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

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 as modified by the revaluation of certain assets.

Turnover and other income
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from legal services are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured over time.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Goodwill acquired in 2017 is being amortised over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - at varying rates on cost
Fixtures and equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 50% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

CARTER OSBORNE LIMITED (REGISTERED NUMBER: 09180851)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Deferred taxation
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST OR VALUATION
At 1 April 2022
and 31 March 2023 1,352,800 10,000 1,362,800
AMORTISATION
At 1 April 2022 821,760 3,750 825,510
Charge for year 132,760 2,500 135,260
At 31 March 2023 954,520 6,250 960,770
NET BOOK VALUE
At 31 March 2023 398,280 3,750 402,030
At 31 March 2022 531,040 6,250 537,290

Cost or valuation at 31 March 2023 is represented by:

Other
intangible
Goodwill assets Totals
£    £    £   
Valuation in 2018 663,800 - 663,800
Cost 689,000 10,000 699,000
1,352,800 10,000 1,362,800

CARTER OSBORNE LIMITED (REGISTERED NUMBER: 09180851)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 137,034 68,711 - 21,145 226,890
Additions - 133 32,500 5,529 38,162
Disposals (137,034 ) (25,736 ) - (14,975 ) (177,745 )
At 31 March 2023 - 43,108 32,500 11,699 87,307
DEPRECIATION
At 1 April 2022 5,579 34,289 - 8,553 48,421
Charge for year - 5,329 4,740 2,742 12,811
Eliminated on disposal (5,579 ) (17,859 ) - (7,926 ) (31,364 )
At 31 March 2023 - 21,759 4,740 3,369 29,868
NET BOOK VALUE
At 31 March 2023 - 21,349 27,760 8,330 57,439
At 31 March 2022 131,455 34,422 - 12,592 178,469

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 225,968 182,809
Amounts recoverable on contract 23,216 15,290
Other debtors 4,947 2,821
Staff Loans 8,175 7,500
Tax 440 440
Prepayments and accrued income 7,013 19,552
269,759 228,412

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 16,956 54,757
Other loans 6,162 16,262
Trade creditors 28,222 24,342
Tax 129,428 127,708
Social security and other taxes 12,357 5,481
VAT 75,138 44,261
Other creditors 1,629 759
Directors' current accounts 782 371
Accruals and deferred income 12,495 12,453
283,169 286,394

CARTER OSBORNE LIMITED (REGISTERED NUMBER: 09180851)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 21,645 31,656

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 16,665 12,540
Between one and five years 53,295 50,160
In more than five years - 3,135
69,960 65,835

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
150 Ordinary A £1 150 150
150 Ordinary B £1 150 150
90 Ordinary C £1 90 45
390 345

45 Ordinary C shares of £1 each were allotted as fully paid as a bonus issue out of reserves during the year.

11. RESERVES
Revaluation
reserve
£   
At 1 April 2022 531,040
Amortisation (132,760 )

At 31 March 2023 398,280

12. ULTIMATE CONTROLLING PARTY

The company is under the joint control of the directors Mr A J Gibson and Mr L A Muir.