Acorah Software Products - Accounts Production 15.0.500 false true true 31 March 2023 25 February 2022 false 1 April 2023 31 March 2024 31 March 2024 13941277 Mr Paul Irwin Mr Sammy Burt iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13941277 2023-03-31 13941277 2024-03-31 13941277 2023-04-01 2024-03-31 13941277 frs-core:ShareCapital 2024-03-31 13941277 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 13941277 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13941277 frs-bus:AbridgedAccounts 2023-04-01 2024-03-31 13941277 frs-bus:SmallEntities 2023-04-01 2024-03-31 13941277 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13941277 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13941277 frs-bus:Director1 2023-04-01 2024-03-31 13941277 frs-bus:Director2 2023-04-01 2024-03-31 13941277 frs-countries:EnglandWales 2023-04-01 2024-03-31 13941277 2022-02-24 13941277 2023-03-31 13941277 2022-02-25 2023-03-31 13941277 frs-core:ShareCapital 2023-03-31 13941277 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 13941277
Carlton Street Commercial Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Arete Capital Limited
Chartered Accountants
5 Merchant Square
1st Floor
London
W2 1AY
Contents
Page
Abridged Statement of Financial Position 1—2
Notes to the Abridged Financial Statements 3—6
Page 1
Abridged Statement of Financial Position
Registered number: 13941277
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 163,170
- 163,170
CURRENT ASSETS
Debtors 188,310 -
Cash at bank and in hand 54 54
188,364 54
Creditors: Amounts Falling Due Within One Year (170,589 ) (170,148 )
NET CURRENT ASSETS (LIABILITIES) 17,775 (170,094 )
TOTAL ASSETS LESS CURRENT LIABILITIES 17,775 (6,924 )
NET ASSETS/(LIABILITIES) 17,775 (6,924 )
CAPITAL AND RESERVES
Called up share capital 5 100 100
Income Statement 17,675 (7,024 )
SHAREHOLDERS' FUNDS 17,775 (6,924)
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
All of the company's members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Paul Irwin
Director
6 August 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Carlton Street Commercial Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13941277 . The registered office is 11 Bingham Place, London, W1U 5AY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention as modified to include the revaluation of freehold properties and certain financial instruments at fair value, in accordance with FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Fixed asset investments
lnterests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits fiom its activities.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover comprises the invoiced value of rent receivable and services supplied by the company, net of Value Added Tax and discounts.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
lmpairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. lf any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
...CONTINUED
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2.4. Tangible Fixed Assets and Depreciation - continued
Recoverable amount is he higher of fair value less costs to sell and value in use. ln assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is canied at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial lnstruments' and Section 12 'Other Financial lnstruments lssues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are ofiset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaclion price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
Basic financial liabiIities
...CONTINUED
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2.6. Financial Instruments - continued
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. lf not, they are presented as non-cunent liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.7. Taxation
Tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Total
£
Cost
As at 1 April 2023 163,170
Additions (163,170 )
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 163,170
5. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 100 100
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