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COMPANY REGISTRATION NUMBER: NI009890
Caters Carrick Limited
Filleted Unaudited Financial Statements
31 January 2024
Caters Carrick Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
163,532
168,848
Current assets
Debtors
5
2,862
4,188
Cash at bank and in hand
3,554
10,654
-------
--------
6,416
14,842
Creditors: amounts falling due within one year
6
657,845
668,346
---------
---------
Net current liabilities
651,429
653,504
---------
---------
Total assets less current liabilities
( 487,897)
( 484,656)
---------
---------
Net liabilities
( 487,897)
( 484,656)
---------
---------
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss account
( 497,897)
( 494,656)
---------
---------
Shareholders deficit
( 487,897)
( 484,656)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Caters Carrick Limited
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 12 April 2024 , and are signed on behalf of the board by:
Mr R E Caters
Director
Company registration number: NI009890
Caters Carrick Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 62 Irish Quarter West, Carrickfergus, BT38 8AT, Antrim.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Plant and machinery
-
15% straight line
Motor vehicles
-
25% straight line
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Tangible assets
Freehold property
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 February 2023
290,594
44,212
14,430
10,948
360,184
Additions
1,150
1,150
Disposals
( 14,430)
( 14,430)
---------
--------
--------
--------
---------
At 31 January 2024
290,594
45,362
10,948
346,904
---------
--------
--------
--------
---------
Depreciation
At 1 February 2023
124,047
41,911
14,430
10,948
191,336
Charge for the year
5,812
654
6,466
Disposals
( 14,430)
( 14,430)
---------
--------
--------
--------
---------
At 31 January 2024
129,859
42,565
10,948
183,372
---------
--------
--------
--------
---------
Carrying amount
At 31 January 2024
160,735
2,797
163,532
---------
--------
--------
--------
---------
At 31 January 2023
166,547
2,301
168,848
---------
--------
--------
--------
---------
5. Debtors
2024
2023
£
£
Other debtors
2,862
4,188
-------
-------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
106
Corporation tax
487
3,659
Social security and other taxes
626
Other creditors
657,252
664,061
---------
---------
657,845
668,346
---------
---------
7. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr R E Caters
( 585,603)
( 65,149)
( 650,752)
---------
--------
---------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr R E Caters
( 595,690)
10,087
( 585,603)
---------
--------
---------