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REGISTERED NUMBER: 01230934 (England and Wales)















IAIN CARSTAIRS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023






IAIN CARSTAIRS LIMITED (REGISTERED NUMBER: 01230934)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


IAIN CARSTAIRS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: I C M Carstairs





REGISTERED OFFICE: 3 Longsides Road
Hale Barns
Altrincham
Cheshire
WA15 0HT





REGISTERED NUMBER: 01230934 (England and Wales)





ACCOUNTANTS: DTE Business Advisers Limited
The Exchange
5 Bank Street
Bury
Lancashire
BL9 0DN

IAIN CARSTAIRS LIMITED (REGISTERED NUMBER: 01230934)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 683 31,477
Cash at bank 90,428 59,590
91,111 91,067
CREDITORS
Amounts falling due within one year 5 (14,303 ) (23,415 )
NET CURRENT ASSETS 76,808 67,652
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,808

67,652

CREDITORS
Amounts falling due after more than one
year

6

(9,994

)

(15,751

)
NET ASSETS 66,814 51,901

CAPITAL AND RESERVES
Called up share capital 4,200 4,200
Retained earnings 62,614 47,701
66,814 51,901

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the director and authorised for issue on 12 July 2024 and were signed by:



I C M Carstairs - Director


IAIN CARSTAIRS LIMITED (REGISTERED NUMBER: 01230934)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Iain Carstairs Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 01230934 and the registered office address is 3 Longsides Road, Hale Barns, Altrincham, Cheshire, WA15 0HT.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore the director continues to adopt the going concern basis in preparing the financial statements.

Significant judgements and estimates
In the opinion of the director, there are currently no critical judgements or estimates applied in preparing the financial statements.

Revenue
Revenue comprises commission income arising from agent services provided in respect of the sale of carpet yarns.

Commission is recognised when a right to income has been earned in accordance with the agency contract.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


IAIN CARSTAIRS LIMITED (REGISTERED NUMBER: 01230934)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Dividends
Equity dividends are recognised when they become legally payable and are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 683 31,477

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,784 5,642
Trade creditors 1,855 2,157
Taxation and social security 6,664 15,616
14,303 23,415

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 9,994 15,751