Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mrs L S Heather 01/04/2003 Mr T C Heather 01/04/2003 04 April 2024 The principal activity of the Company during the financial year was the undertaking of consultancy in the property development field and an investment holding company. 04718174 2023-12-31 04718174 bus:Director1 2023-12-31 04718174 bus:Director2 2023-12-31 04718174 2022-12-31 04718174 core:CurrentFinancialInstruments 2023-12-31 04718174 core:CurrentFinancialInstruments 2022-12-31 04718174 core:ShareCapital 2023-12-31 04718174 core:ShareCapital 2022-12-31 04718174 core:RevaluationReserve 2023-12-31 04718174 core:RevaluationReserve 2022-12-31 04718174 core:RetainedEarningsAccumulatedLosses 2023-12-31 04718174 core:RetainedEarningsAccumulatedLosses 2022-12-31 04718174 core:InvestmentPropertyIncludedWithinPPE 2022-12-31 04718174 core:OfficeEquipment 2022-12-31 04718174 core:InvestmentPropertyIncludedWithinPPE 2023-12-31 04718174 core:OfficeEquipment 2023-12-31 04718174 bus:OrdinaryShareClass1 2023-12-31 04718174 2023-01-01 2023-12-31 04718174 bus:FilletedAccounts 2023-01-01 2023-12-31 04718174 bus:SmallEntities 2023-01-01 2023-12-31 04718174 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04718174 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04718174 bus:Director1 2023-01-01 2023-12-31 04718174 bus:Director2 2023-01-01 2023-12-31 04718174 core:OfficeEquipment core:TopRangeValue 2023-01-01 2023-12-31 04718174 2022-01-01 2022-12-31 04718174 core:InvestmentPropertyIncludedWithinPPE 2023-01-01 2023-12-31 04718174 core:OfficeEquipment 2023-01-01 2023-12-31 04718174 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 04718174 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04718174 (England and Wales)

CARTER-HUTCHINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

CARTER-HUTCHINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

CARTER-HUTCHINGS LIMITED

BALANCE SHEET

As at 31 December 2023
CARTER-HUTCHINGS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,462,359 1,199,502
1,462,359 1,199,502
Current assets
Debtors 4 109,155 13,956
Cash at bank and in hand 5 372,679 941,917
481,834 955,873
Creditors: amounts falling due within one year 6 ( 29,172) ( 41,903)
Net current assets 452,662 913,970
Total assets less current liabilities 1,915,021 2,113,472
Provision for liabilities ( 39,827) ( 52,263)
Net assets 1,875,194 2,061,209
Capital and reserves
Called-up share capital 7 104 104
Revaluation reserve 136,769 175,294
Profit and loss account 1,738,321 1,885,811
Total shareholders' funds 1,875,194 2,061,209

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Carter-Hutchings Limited (registered number: 04718174) were approved and authorised for issue by the Board of Directors on 04 April 2024. They were signed on its behalf by:

Mrs L S Heather
Director
CARTER-HUTCHINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
CARTER-HUTCHINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Carter-Hutchings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Investment property not depreciated
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Properties are held at fair value at the date of valuation less subsequent depreciation and impairment.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a gain reverses a previously recognised loss, or a loss exceeds the accumulated gains in equity.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Investment property Office equipment Total
£ £ £
Cost
At 01 January 2023 1,198,768 978 1,199,746
Additions 499,606 1,952 501,558
Revaluations ( 51,369) 0 ( 51,369)
Disposals ( 187,006) 0 ( 187,006)
At 31 December 2023 1,459,999 2,930 1,462,929
Accumulated depreciation
At 01 January 2023 0 244 244
Charge for the financial year 0 326 326
At 31 December 2023 0 570 570
Net book value
At 31 December 2023 1,459,999 2,360 1,462,359
At 31 December 2022 1,198,768 734 1,199,502

4. Debtors

2023 2022
£ £
Trade debtors 5,080 12,648
Amounts owed by directors 66,397 0
Prepayments 1,711 1,308
Other debtors 35,967 0
109,155 13,956

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 372,679 941,917

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 6,904
Amounts owed to directors 1 630
Accruals 2,150 2,060
Taxation and social security 27,021 4,160
Other creditors 0 28,149
29,172 41,903

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
104 Ordinary A shares of £ 1.00 each 104 104

8. Related party transactions

Transactions with the entity's directors

Advances

An advance for Directors Overdrawn Loan account was made to the directors during the year for £66,397 at 2% interest. No sum has been waived.