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Registered Number: 12870376
England and Wales

 

 

 

CARBONYTE LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 October 2022

End date: 30 September 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 112,000    140,000 
Tangible fixed assets 4 27,823    38,766 
139,823    178,766 
Current assets      
Debtors 18,311    7,063 
Cash at bank and in hand 515    3,427 
18,826    10,490 
Creditors: amount falling due within one year (865,333)   (444,293)
Net current assets (846,507)   (433,803)
 
Total assets less current liabilities (706,684)   (255,037)
Net assets (706,684)   (255,037)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (706,784)   (255,137)
Shareholder's funds (706,684)   (255,037)
 


For the year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 08 April 2024 and were signed on its behalf by:


-------------------------------
Nikunj Vyas
Director
1
General Information
CARBONYTE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12870376, registration address Integer Millennium House, Bre Innovation Campus, Bucknalls Lane , Watford, WD25 9XX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. Company start amortising intangible assets in the accounts when its commercial operation is started. 
Software License
Software License is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the Software License of 5 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 30% Reducing Balance
Computer Equipment 30% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 5 (2022 : 0).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 October 2022 140,000    140,000 
Additions  
Disposals  
At 30 September 2023 140,000    140,000 
Amortisation
At 01 October 2022  
Charge for year 28,000    28,000 
On disposals  
At 30 September 2023 28,000    28,000 
Net book values
At 30 September 2023 112,000    112,000 
At 30 September 2022 140,000    140,000 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 October 2022 38,766      38,766 
Additions   982    982 
Disposals    
At 30 September 2023 38,766    982    39,748 
Depreciation
At 01 October 2022    
Charge for year 11,630    295    11,925 
On disposals    
At 30 September 2023 11,630    295    11,925 
Net book values
Closing balance as at 30 September 2023 27,136    687    27,823 
Opening balance as at 01 October 2022 38,766      38,766 


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