Caseware UK (AP4) 2023.0.135 2023.0.135 No description of principal activitytrue2023-01-01false1011trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12063644 2023-01-01 2023-12-31 12063644 2022-01-01 2022-12-31 12063644 2023-12-31 12063644 2022-12-31 12063644 c:Director2 2023-01-01 2023-12-31 12063644 d:PlantMachinery 2023-01-01 2023-12-31 12063644 d:PlantMachinery 2023-12-31 12063644 d:PlantMachinery 2022-12-31 12063644 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12063644 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 12063644 d:MotorVehicles 2023-01-01 2023-12-31 12063644 d:MotorVehicles 2023-12-31 12063644 d:MotorVehicles 2022-12-31 12063644 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12063644 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 12063644 d:OfficeEquipment 2023-01-01 2023-12-31 12063644 d:OfficeEquipment 2023-12-31 12063644 d:OfficeEquipment 2022-12-31 12063644 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12063644 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 12063644 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 12063644 d:OtherPropertyPlantEquipment 2023-12-31 12063644 d:OtherPropertyPlantEquipment 2022-12-31 12063644 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12063644 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 12063644 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12063644 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 12063644 d:Goodwill 2023-01-01 2023-12-31 12063644 d:Goodwill 2023-12-31 12063644 d:Goodwill 2022-12-31 12063644 d:CurrentFinancialInstruments 2023-12-31 12063644 d:CurrentFinancialInstruments 2022-12-31 12063644 d:Non-currentFinancialInstruments 2023-12-31 12063644 d:Non-currentFinancialInstruments 2022-12-31 12063644 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12063644 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12063644 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 12063644 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 12063644 d:ShareCapital 2023-12-31 12063644 d:ShareCapital 2022-12-31 12063644 d:RetainedEarningsAccumulatedLosses 2023-12-31 12063644 d:RetainedEarningsAccumulatedLosses 2022-12-31 12063644 c:OrdinaryShareClass1 2023-01-01 2023-12-31 12063644 c:OrdinaryShareClass1 2023-12-31 12063644 c:OrdinaryShareClass1 2022-12-31 12063644 c:FRS102 2023-01-01 2023-12-31 12063644 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12063644 c:FullAccounts 2023-01-01 2023-12-31 12063644 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12063644 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 12063644 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 12063644 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 12063644 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 12063644 d:Goodwill d:OwnedIntangibleAssets 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12063644










Carbis Loadtec Group Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 December 2023





 
Carbis Loadtec Group Limited
Registered number: 12063644

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
27,000
31,500

Tangible assets
 5 
58,777
7,979

  
85,777
39,479

Current assets
  

Stocks
  
35,309
40,689

Debtors: amounts falling due within one year
 6 
628,300
782,202

Cash at bank and in hand
  
317,570
222,339

  
981,179
1,045,230

Creditors: amounts falling due within one year
 7 
(709,791)
(877,436)

Net current assets
  
 
 
271,388
 
 
167,794

Total assets less current liabilities
  
357,165
207,273

Creditors: amounts falling due after more than one year
 8 
(16,060)
-

Provisions for liabilities
  

Deferred tax
  
(13,242)
-

Net assets
  
327,863
207,273


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
327,763
207,173

  
327,863
207,273


Page 1

 
Carbis Loadtec Group Limited
Registered number: 12063644

Balance sheet (continued)
As at 31 December 2023

The directors consider 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 directors acknowledge their 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 income and retained earnings 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 13 February 2024.




S K Keeler
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
Carbis Loadtec Group Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

Carbis Loadtec Group Limited is a limited liability company incorporated in England. The address of the registered office is 37, St Margaret's Street, Canterbury, Kent, CT1 2TU.

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

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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
Carbis Loadtec Group Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
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 income and retained earnings in the same period as the related expenditure.

 
2.5

Finance costs

Finance costs are charged to profit or loss 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

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
Carbis Loadtec Group Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

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, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20.00%
Motor vehicles
-
20.00%
Office equipment
-
33.33%
Software
-
33.33%

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.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
Carbis Loadtec Group Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

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.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Page 6

 
Carbis Loadtec Group Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2022 - 11).

Page 7

 
Carbis Loadtec Group Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2023
45,000



At 31 December 2023

45,000



Amortisation


At 1 January 2023
13,500


Charge for the year on owned assets
4,500



At 31 December 2023

18,000



Net book value



At 31 December 2023
27,000



At 31 December 2022
31,500



Page 8

 
Carbis Loadtec Group Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Software
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
4,180
-
22,910
7,000
34,090


Additions
-
38,745
25,571
-
64,316


Disposals
(4,180)
-
(8,093)
-
(12,273)



At 31 December 2023

-
38,745
40,388
7,000
86,133



Depreciation


At 1 January 2023
2,531
-
16,580
7,000
26,111


Charge for the year on owned assets
810
-
5,321
-
6,131


Charge for the year on financed assets
-
5,812
-
-
5,812


Disposals
(3,341)
-
(7,357)
-
(10,698)



At 31 December 2023

-
5,812
14,544
7,000
27,356



Net book value



At 31 December 2023
-
32,933
25,844
-
58,777



At 31 December 2022
1,649
-
6,330
-
7,979

The net book value of financed assets was £32,933 (2022 - nil).


6.


Debtors

2023
2022
£
£


Trade debtors
604,311
719,211

Prepayments and accrued income
23,989
62,991

628,300
782,202


Page 9

 
Carbis Loadtec Group Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
268,526
391,809

Amounts owed to group undertakings
191,860
191,860

Other taxation and social security
94,944
85,313

Obligations under finance lease and hire purchase contracts
12,848
-

Other creditors
37,301
27,367

Accruals and deferred income
104,312
181,087

709,791
877,436



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
16,060
-



9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
12,848
-

Between 1-5 years
16,060
-

28,908
-


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



11.


Related party transactions

The company has borrowed £191,860 (2022 - £191,860) from Sam Carbis Solutions LLC, the majority shareholder. The unsecured loan is interest free and repayable on demand. 

Page 10

 
Carbis Loadtec Group Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

12.


Controlling party

The controlling party is Sam Carbis Solutions LLC who owns 60% of the issued share capital. 


Page 11