Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31truefalse2022-03-28No description of principal activityfalse30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14005422 2022-03-27 14005422 2022-03-28 2023-03-31 14005422 2021-03-28 2022-03-27 14005422 2023-03-31 14005422 c:Director1 2022-03-28 2023-03-31 14005422 d:CurrentFinancialInstruments 2023-03-31 14005422 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 14005422 d:ShareCapital 2022-03-28 2023-03-31 14005422 d:ShareCapital 2023-03-31 14005422 d:RetainedEarningsAccumulatedLosses 2022-03-28 2023-03-31 14005422 d:RetainedEarningsAccumulatedLosses 2023-03-31 14005422 c:OrdinaryShareClass1 2022-03-28 2023-03-31 14005422 c:OrdinaryShareClass1 2023-03-31 14005422 c:FRS102 2022-03-28 2023-03-31 14005422 c:AuditExempt-NoAccountantsReport 2022-03-28 2023-03-31 14005422 c:FullAccounts 2022-03-28 2023-03-31 14005422 c:PrivateLimitedCompanyLtd 2022-03-28 2023-03-31 14005422 e:PoundSterling 2022-03-28 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14005422










CARBONOVIA LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

 
CARBONOVIA LIMITED
REGISTERED NUMBER: 14005422

BALANCE SHEET
AS AT 31 MARCH 2023

2023
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
75,728

Cash at bank and in hand
 5 
36,077

  
111,805

Creditors: amounts falling due within one year
 6 
(170,308)

Net current (liabilities)/assets
  
 
 
(58,503)

Total assets less current liabilities
  
(58,503)

  

Net (liabilities)/assets
  
(58,503)


Capital and reserves
  

Called up share capital 
 7 
125,100

Profit and loss account
  
(183,603)

  
(58,503)


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 period 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 comprehensive income 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 by: 




P M Mason
Director

Date: 13 February 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 1

 
CARBONOVIA LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2023


Called up share capital
Profit and loss account
Total equity

£
£
£



Loss for the period
-
(183,603)
(183,603)

Shares issued during the period
125,100
-
125,100


At 31 March 2023
125,100
(183,603)
(58,503)

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
CARBONOVIA LIMITED
 

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

1.


General information

Carbonovia Ltd is a private limited company, limited by shares, registered in England and Wales. The company's registered office is 2 Communications Road, Greenham Business Park, Newbury, Berkshire, England, RG19 6AB. The principal place of business is 58 Church Way, Iffley, Oxford, OX4 4EF.

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

Going concern

The sole shareholder undertakes to replace the debts due to himself and Malaika Energy Ventures Ltd with equity, and not seek repayment of the debt until such equity is issued and paid for, it is therefore deemed reasonable to prepare the financial statements on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
CARBONOVIA LIMITED
 

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

2.Accounting policies (continued)

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
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

Taxation

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.

R&D tax repayments are accounted for on an accruals basis.

 
2.8

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.

 
2.9

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.

Page 4

 
CARBONOVIA LIMITED
 

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

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the period was 3.


4.


Debtors

2023
£


Other debtors
35,563

Prepayments and accrued income
165

Tax recoverable
40,000

75,728


Page 5

 
CARBONOVIA LIMITED
 

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

5.


Cash and cash equivalents

2023
£

Cash at bank and in hand
36,077



6.


Creditors: amounts falling due within one year

2023
£

Other loans
47,869

Trade creditors
69,400

Other taxation and social security
3,653

Other creditors
947

Accruals and deferred income
48,439

170,308



7.


Share capital

2023
£
Allotted, called up and fully paid


125,100 Ordinary shares of £1.00 each
125,100


During the period, 125,100 Ordinary shares of £1.00 were issued and paid at par.


8.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held seperately from those of the Company in an independanly administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,773. Contributions were payable to the fund at the balance sheet date of £238.


9.


Related party transactions

The Director of the Company was also the sole shareholder of Malaika Energy Ventures. At the period end, the Company owed £47,869 to Malaika Energy Ventures Ltd in the form of an interest-free loan with no set terms of repayment.


Page 6