Carters Facilities Ltd. 10435795 false 2022-10-31 2023-10-30 2023-10-30 The principal activity of the company is fitting and maintaining ventilation systems. Digita Accounts Production Advanced 6.30.9574.0 true true 10435795 2022-10-31 2023-10-30 10435795 2023-10-30 10435795 bus:Director1 1 2023-10-30 10435795 bus:OrdinaryShareClass1 2023-10-30 10435795 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-10-30 10435795 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-10-30 10435795 core:CurrentFinancialInstruments 2023-10-30 10435795 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-30 10435795 core:Non-currentFinancialInstruments 2023-10-30 10435795 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-30 10435795 core:FurnitureFittings 2023-10-30 10435795 core:MotorVehicles 2023-10-30 10435795 core:OtherPropertyPlantEquipment 2023-10-30 10435795 bus:SmallEntities 2022-10-31 2023-10-30 10435795 bus:AuditExemptWithAccountantsReport 2022-10-31 2023-10-30 10435795 bus:FullAccounts 2022-10-31 2023-10-30 10435795 bus:SmallCompaniesRegimeForAccounts 2022-10-31 2023-10-30 10435795 bus:RegisteredOffice 2022-10-31 2023-10-30 10435795 bus:Director1 2022-10-31 2023-10-30 10435795 bus:Director1 1 2022-10-31 2023-10-30 10435795 bus:OrdinaryShareClass1 2022-10-31 2023-10-30 10435795 bus:PrivateLimitedCompanyLtd 2022-10-31 2023-10-30 10435795 core:FurnitureFittings 2022-10-31 2023-10-30 10435795 core:MotorVehicles 2022-10-31 2023-10-30 10435795 core:OfficeEquipment 2022-10-31 2023-10-30 10435795 core:OtherPropertyPlantEquipment 2022-10-31 2023-10-30 10435795 core:PlantMachinery 2022-10-31 2023-10-30 10435795 countries:EnglandWales 2022-10-31 2023-10-30 10435795 2022-10-30 10435795 bus:Director1 1 2022-10-30 10435795 core:FurnitureFittings 2022-10-30 10435795 core:MotorVehicles 2022-10-30 10435795 core:OtherPropertyPlantEquipment 2022-10-30 10435795 2021-10-31 2022-10-30 10435795 2022-10-30 10435795 bus:Director1 1 2022-10-30 10435795 bus:OrdinaryShareClass1 2022-10-30 10435795 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-10-30 10435795 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-10-30 10435795 core:CurrentFinancialInstruments 2022-10-30 10435795 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-30 10435795 core:Non-currentFinancialInstruments 2022-10-30 10435795 core:Non-currentFinancialInstruments core:AfterOneYear 2022-10-30 10435795 core:FurnitureFittings 2022-10-30 10435795 core:MotorVehicles 2022-10-30 10435795 core:OtherPropertyPlantEquipment 2022-10-30 10435795 bus:Director1 1 2021-10-31 2022-10-30 10435795 bus:Director1 1 2021-10-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10435795

Carters Facilities Ltd.

Annual Report and Unaudited Financial Statements

for the Year Ended 30 October 2023

 

Carters Facilities Ltd.

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 9

 

Carters Facilities Ltd.

(Registration number: 10435795)
Balance Sheet as at 30 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

120,297

75,130

Current assets

 

Stocks

5

7,124

22,620

Debtors

6

169,609

127,048

Cash at bank and in hand

 

173,788

56,741

 

350,521

206,409

Creditors: Amounts falling due within one year

7

(265,885)

(171,656)

Net current assets

 

84,636

34,753

Total assets less current liabilities

 

204,933

109,883

Creditors: Amounts falling due after more than one year

7

(84,376)

(69,739)

Provisions for liabilities

(30,074)

(14,274)

Net assets

 

90,483

25,870

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

90,482

25,869

Shareholders' funds

 

90,483

25,870

 

Carters Facilities Ltd.

(Registration number: 10435795)
Balance Sheet as at 30 October 2023

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account and director’s report have not been delivered in accordance with the special provisions applicable to companies subject to the small companies regime.

Approved and authorised by the director on 16 April 2024
 

.........................................
Mr R J Birkbeck
Director

 

Carters Facilities Ltd.

Notes to the Financial Statements for the Year Ended 30 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 4
Hamilton Street
Blackburn
BB2 4AJ

These financial statements were authorised for issue by the director on 16 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling which is the functional currency of the company and the accounts are rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

The company has received revenue grants in the form of Local Authority grants. Revenue grants are credited to the profit and loss account so as to match them with the expenditure to which they relate.

 

Carters Facilities Ltd.

Notes to the Financial Statements for the Year Ended 30 October 2023

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% per annum on reducing balance

Office equipment

25% per annum on reducing balance

Motor vehicles

25% per annum on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Carters Facilities Ltd.

Notes to the Financial Statements for the Year Ended 30 October 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Carters Facilities Ltd.

Notes to the Financial Statements for the Year Ended 30 October 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2022 - 4).

4

Tangible assets

Office equipment
£

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 31 October 2022

5,238

107,306

3,950

116,494

Additions

224

72,501

-

72,725

At 30 October 2023

5,462

179,807

3,950

189,219

Depreciation

At 31 October 2022

2,916

35,612

2,836

41,364

Charge for the year

580

26,757

221

27,558

At 30 October 2023

3,496

62,369

3,057

68,922

Carrying amount

At 30 October 2023

1,966

117,438

893

120,297

At 30 October 2022

2,323

71,693

1,114

75,130

 

Carters Facilities Ltd.

Notes to the Financial Statements for the Year Ended 30 October 2023

Hire Purchase Contracts

Included within the net book value of tangible fixed assets is £105,541 (2022 - £71,693) in respect of assets held under hire purchase contracts. Depreciation for the year on these assets was £22,791 (2022 - £9,845).

5

Stocks

2023
£

2022
£

Other inventories

7,124

22,620

6

Debtors

Current

2023
£

2022
£

Trade debtors

163,635

111,062

Other debtors

5,974

15,986

 

169,609

127,048

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

34,572

28,904

Trade creditors

 

67,434

10,537

Taxation and social security

 

156,936

128,876

Accruals and deferred income

 

6,566

3,339

Other creditors

 

377

-

 

265,885

171,656

Creditors include net obligations under hire purchase contracts which are secured of £24,572 (2022 - £19,041).

 

Carters Facilities Ltd.

Notes to the Financial Statements for the Year Ended 30 October 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

84,376

69,739

Creditors include net obligations under hire purchase contracts which are secured of £68,447 (2022 - £43,663).

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

         

9

Related party transactions

Transactions with the director

2023

At 31 October 2022
£

Advances to director
£

Repayments by director
£

At 30 October 2023
£

Mr R J Birkbeck

Loan made to the director throughout the year which is repayable on demand. Interest is payable at the statutory rate.

11,569

69,251

(81,000)

(180)

         
       

 

2022

At 31 October 2021
£

Advances to director
£

Repayments by director
£

At 30 October 2022
£

Mr R J Birkbeck

Loan made to the director throughout the year which is repayable on demand. Interest is payable at the statutory rate.

13,677

55,892

(58,000)

11,569

         
       

 

Carters Facilities Ltd.

Notes to the Financial Statements for the Year Ended 30 October 2023

 

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

15,929

26,076

Hire purchase contracts

68,447

43,663

84,376

69,739

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,000

9,863

Hire purchase contracts

24,572

19,041

34,572

28,904