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REGISTERED NUMBER: 08913191 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CARMEL TRADING LIMITED

CARMEL TRADING LIMITED (REGISTERED NUMBER: 08913191)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CARMEL TRADING LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: D R L Edwards
Mrs Andrea Pettit





REGISTERED OFFICE: 93 Greenhill
Evesham
WR11 4NB





REGISTERED NUMBER: 08913191 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Magma House
16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ

CARMEL TRADING LIMITED (REGISTERED NUMBER: 08913191)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 4,048 4,470
Investments 5 - -
Investment property 6 6,008,452 6,008,452
6,012,500 6,012,922

CURRENT ASSETS
Debtors 7 178,829 191,608
Cash at bank 279,551 633,106
458,380 824,714
CREDITORS
Amounts falling due within one year 8 (17,073 ) (328,572 )
NET CURRENT ASSETS 441,307 496,142
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,453,807

6,509,064

PROVISIONS FOR LIABILITIES 9 (138,611 ) (145,912 )
NET ASSETS 6,315,196 6,363,152

CAPITAL AND RESERVES
Called up share capital 10 45,100 45,104
Other reserves 11 457,448 457,448
Retained earnings 11 5,812,648 5,860,600
SHAREHOLDERS' FUNDS 6,315,196 6,363,152

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

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

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 May 2024 and were signed on its behalf by:



Mrs Andrea Pettit - Director


CARMEL TRADING LIMITED (REGISTERED NUMBER: 08913191)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023


1. STATUTORY INFORMATION

Carmel Trading Limited is a limited company, registered in England and Wales. Its registered office address is 93 Greenhill, Evesham, United Kingdom, WR11 4NB and the registered number is 08913191.

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 as modified by the revaluation of certain fixed assets.

The financial statements are presented in Sterling (£) and figures rounded to the nearest £1.

Turnover
Turnover represents rent receivable from investment properties.

Rent receivable is recognised as it falls due, in accordance with the lease to which is relates. Any lease incentives are spread evenly across the period of the lease.

Other operating income
Other operating income is comprised of dividends receivable from associate undertaking.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Computer equipment- 20% straight line
Fixtures and fittings- 20% on reducing balance
Motor vehicles- 20% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Investment property
Investment properties are initially measured at cost, including related transaction costs. These are held as investments to earn rental income and for capital appreciation and are stated at fair value at the Balance Sheet date.

The fair value of investment properties reflects, among other things, rental income from current leases and assumptions about rental income from future leases in light of current market conditions.

Any movement in the fair value of the properties is reflected within the profit and loss account for the year. Any associated deferred tax liability is taken to the profit and loss account in the year and offset against revaluation gains held in other reserves.

CARMEL TRADING LIMITED (REGISTERED NUMBER: 08913191)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at
transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
The tax expense for the year comprises current and deferred tax.

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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

CARMEL TRADING LIMITED (REGISTERED NUMBER: 08913191)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 January 2023 6,393
Additions 1,000
At 31 December 2023 7,393
DEPRECIATION
At 1 January 2023 1,923
Charge for year 1,422
At 31 December 2023 3,345
NET BOOK VALUE
At 31 December 2023 4,048
At 31 December 2022 4,470

5. FIXED ASSET INVESTMENTS

The interest in associate was fully impaired in 2021 to £nil following the distribution of all assets by the associate company and the intended strike off of the associate. The associate was dissolved by way of voluntary strike-off on 23 April 2024.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 6,008,452
NET BOOK VALUE
At 31 December 2023 6,008,452
At 31 December 2022 6,008,452

The comparable historic cost for investment property held at valuation is £5,424,802 (2022 - £5,424,802).

The directors consider the above carrying value of the investment properties to be the fair value of the investment properties as at 31 December 2023.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2021 380,750
Valuation in 2017 202,900
Cost 5,424,802
6,008,452

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 178,829 191,608

CARMEL TRADING LIMITED (REGISTERED NUMBER: 08913191)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 11,492 66,453
Other creditors 5,581 262,119
17,073 328,572

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 138,611 145,912

Deferred
tax
£   
Balance at 1 January 2023 145,912
Provided during year (7,301 )
Balance at 31 December 2023 138,611

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
4 A Ordinary £1 - 4
45,100 Ordinary £1 45,100 45,100
45,100 45,104

11. RESERVES

Other reserves
The other reserves includes the revaluation of the investment properties to their fair value at the year end date, less a provision for associated deferred taxation.