Registered number
04590255
Carnoustie Investments Limited
Filleted Accounts
30 November 2023
Carnoustie Investments Limited
Registered number: 04590255
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 938,731 872,924
Current assets
Debtors 4 - 17,959
Cash at bank and in hand 32,233 45,362
32,233 63,321
Creditors: amounts falling due within one year 5 (242,745) (195,802)
Net current liabilities (210,512) (132,481)
Total assets less current liabilities 728,219 740,443
Creditors: amounts falling due after more than one year 6 (425,364) (425,364)
Net assets 302,855 315,079
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 166,726 166,726
Profit and loss account 136,029 148,253
Shareholders' funds 302,855 315,079
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C R Phillips
Director
Approved by the board on 2 August 2024
Carnoustie Investments Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% on a reducing balance
Fixtures, fittings, tools and equipment 25% on a reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2022 871,807 1,490 873,297
Additions 39,995 34,788 74,783
At 30 November 2023 911,802 36,278 948,080
Depreciation
At 1 December 2022 - 373 373
Charge for the year - 8,976 8,976
At 30 November 2023 - 9,349 9,349
Net book value
At 30 November 2023 911,802 26,929 938,731
At 30 November 2022 871,807 1,117 872,924
4 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 17,959
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 3,187 5,726
Other creditors 239,558 190,076
242,745 195,802
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 425,364 425,364
7 Revaluation reserve 2023 2022
£ £
At 1 December 2022 166,726 166,726
At 30 November 2023 166,726 166,726
8 Controlling party
The company is in the control of C J and C R Phillips on the basis that they hold jointly 100% of the issued share capital.
9 Other information
Carnoustie Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
Pennyweights
Kenley
CR8 5HB
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