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REGISTERED NUMBER: 04759005 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Carter Sullivan Limited

Carter Sullivan Limited (Registered number: 04759005)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Carter Sullivan Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M J Anderson
Mrs M S Anderson





SECRETARY: Mrs M S Anderson





REGISTERED OFFICE: The Granary
Crowhill Farm
Ravensden Road
Wilden
Bedfordshire
MK44 2QS





REGISTERED NUMBER: 04759005 (England and Wales)





ACCOUNTANTS: GREGORY WILDMAN
The Granary
Crowhill Farm
Ravensden Road
Wilden
Bedfordshire
MK44 2QS

Carter Sullivan Limited (Registered number: 04759005)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 277,884 274,631

CURRENT ASSETS
Stocks 5 201,501 245,218
Debtors 6 879,560 742,987
Cash at bank 40,570 47,437
1,121,631 1,035,642
CREDITORS
Amounts falling due within one year 7 807,182 698,958
NET CURRENT ASSETS 314,449 336,684
TOTAL ASSETS LESS CURRENT LIABILITIES 592,333 611,315

CREDITORS
Amounts falling due after more than one year 8 (231,362 ) (214,044 )

PROVISIONS FOR LIABILITIES 11 (54,843 ) (41,657 )
NET ASSETS 306,128 355,614

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 306,028 355,514
SHAREHOLDERS' FUNDS 306,128 355,614

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.

Carter Sullivan Limited (Registered number: 04759005)

Statement of Financial Position - continued
31 December 2023


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 Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:




Mrs M S Anderson - Director



M J Anderson - Director


Carter Sullivan Limited (Registered number: 04759005)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Carter Sullivan Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

There were no material departures from that standard.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from installation and maintenance of power supply systems is recognised when work has been complete.

Tangible fixed assets
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives as follows.

Improvements to property - over the period of lease
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 33% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its employees. Contributions payable are charged to profit and loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 27 ) .

Carter Sullivan Limited (Registered number: 04759005)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 13,427 57,001 15,393
Additions - 994 3,076
Disposals - - -
At 31 December 2023 13,427 57,995 18,469
DEPRECIATION
At 1 January 2023 11,023 29,498 8,965
Charge for year 1,564 11,536 2,884
Eliminated on disposal - - -
At 31 December 2023 12,587 41,034 11,849
NET BOOK VALUE
At 31 December 2023 840 16,961 6,620
At 31 December 2022 2,404 27,503 6,428

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 508,475 64,872 659,168
Additions 141,370 9,962 155,402
Disposals (16,450 ) - (16,450 )
At 31 December 2023 633,395 74,834 798,120
DEPRECIATION
At 1 January 2023 280,283 54,768 384,537
Charge for year 129,539 6,462 151,985
Eliminated on disposal (16,286 ) - (16,286 )
At 31 December 2023 393,536 61,230 520,236
NET BOOK VALUE
At 31 December 2023 239,859 13,604 277,884
At 31 December 2022 228,192 10,104 274,631

Carter Sullivan Limited (Registered number: 04759005)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 391,795
Additions 141,370
Disposals (16,450 )
Transfer to ownership (49,190 )
At 31 December 2023 467,525
DEPRECIATION
At 1 January 2023 166,919
Charge for year 126,321
Eliminated on disposal (16,286 )
Transfer to ownership (49,190 )
At 31 December 2023 227,764
NET BOOK VALUE
At 31 December 2023 239,761
At 31 December 2022 224,876

5. STOCKS
31.12.23 31.12.22
£    £   
Stock & work in progress 201,501 245,218

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 713,001 649,706
Amounts owed by associates 145,842 71,450
Other debtors 750 1,619
Prepayments 19,967 20,212
879,560 742,987

Carter Sullivan Limited (Registered number: 04759005)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 30,556 73,333
Hire purchase contracts (see note 9) 71,308 64,239
Trade creditors 471,120 319,373
Tax 37,209 105,709
Social security and other taxes 41,207 81,614
VAT 89,407 44,724
Other creditors 594 -
Directors' current accounts 57,080 28
Accrued expenses 8,701 9,938
807,182 698,958

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-5 years - 30,556
Hire purchase contracts (see note 9) 231,362 183,488
231,362 214,044

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Gross obligations repayable:
Within one year 93,536 77,266
Between one and five years 247,165 195,415
340,701 272,681

Finance charges repayable:
Within one year 22,228 13,027
Between one and five years 15,803 11,927
38,031 24,954

Net obligations repayable:
Within one year 71,308 64,239
Between one and five years 231,362 183,488
302,670 247,727

Carter Sullivan Limited (Registered number: 04759005)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 67,219 83,926
Between one and five years 33,134 96,198
100,353 180,124

10. SECURED DEBTS

There is a fixed and floating charge over over all assets of the company in favour of HSBC Bank PLC, Dated 18/09/2015.

There is a fixed and floating charge over all assets of the company in favour of Lloyds TSB Commercial Finance Limited, Dated 11/11/2008.

There is a fixed and floating charge over all assets of the company in favour of HSBC Bank PLC, Dated 26/01/2007.

11. PROVISIONS FOR LIABILITIES

The net reversal of expected deferred tax liability expected to occur in the next 12 months is £34,160.

At the balance sheet date the company had a £54,843 deferred tax liability (2022 - £41,657) relating to accelerated capital allowances

Factors that may affect future tax charges

An increase in the future main corporation tax rate to 25% from 1 April 2023, from the previously enacted 19% was announced in the budget on 3 March 2021, and substantively enacted on 24 May 2021. The deferred tax balance at the year end has been calculated based on the rate at which the provision is expected to unwind.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

13. RELATED PARTY DISCLOSURES

The amount outstanding at the year-end due to Mr M Anderson was £28,540 (2022 - £14).

The amount outstanding at the year-end due to Mrs M Anderson was £28,540 (2022 - £14).

The amount oustanding at the year end due from Carter Sullivan Learning Ltd, an associated company was £145,842 (2022 - £71,450).

14. ULTIMATE CONTROLLING PARTY

Daniel James Holding Limited is regarded by the directors as being the company's ultimate parent company.

Daniel James Holding Limited's registered office address is The Granary, Crowhill Farm, Ravensden Road, Wilden, Bedford, MK44 2QS.

Daniel James Holding Limited's principal place of business is 1 Station Court, Sharnbrook, Bedford, MK44 1PU.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Carter Sullivan Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Carter Sullivan Limited for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Carter Sullivan Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Carter Sullivan Limited and state those matters that we have agreed to state to the Board of Directors of Carter Sullivan Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Carter Sullivan Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Carter Sullivan Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Carter Sullivan Limited. You consider that Carter Sullivan Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Carter Sullivan Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






GREGORY WILDMAN
The Granary
Crowhill Farm
Ravensden Road
Wilden
Bedfordshire
MK44 2QS


27 August 2024