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REGISTERED NUMBER: SC371817 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Carbon Property Solutions Ltd

Carbon Property Solutions Ltd (Registered number: SC371817)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Carbon Property Solutions Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Paul J R Slater
Mrs L Slater





REGISTERED OFFICE: 71 Langside Drive
Glasgow
G42 2ST





REGISTERED NUMBER: SC371817 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Carbon Property Solutions Ltd (Registered number: SC371817)

Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 184,143 209,588

CURRENT ASSETS
Debtors 5 63,586 83,558
Cash at bank and in hand 3,039 2,199
66,625 85,757
CREDITORS
Amounts falling due within one year 6 196,701 226,077
NET CURRENT LIABILITIES (130,076 ) (140,320 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,067

69,268

CREDITORS
Amounts falling due after more than one
year

7

(38,303

)

(53,461

)

PROVISIONS FOR LIABILITIES 8 (14,889 ) (15,036 )
NET ASSETS 875 771

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 873 769
SHAREHOLDERS' FUNDS 875 771

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

Carbon Property Solutions Ltd (Registered number: SC371817)

Statement of Financial Position - continued
30 June 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by:





Paul J R Slater - Director


Carbon Property Solutions Ltd (Registered number: SC371817)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Carbon Property Solutions Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold property - 4% on cost
Fittings and equipment - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

Carbon Property Solutions Ltd (Registered number: SC371817)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2023 - 30 ) .

4. TANGIBLE FIXED ASSETS
Fittings
Leasehold and Computer
property equipment equipment Totals
£    £    £    £   
COST
At 1 July 2023
and 30 June 2024 146,578 160,432 1,822 308,832
DEPRECIATION
At 1 July 2023 16,127 82,326 791 99,244
Charge for year 5,863 19,324 258 25,445
At 30 June 2024 21,990 101,650 1,049 124,689
NET BOOK VALUE
At 30 June 2024 124,588 58,782 773 184,143
At 30 June 2023 130,451 78,106 1,031 209,588

Carbon Property Solutions Ltd (Registered number: SC371817)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Leasehold
property
£   
COST
At 1 July 2023
and 30 June 2024 146,578
DEPRECIATION
At 1 July 2023
and 30 June 2024 16,127
NET BOOK VALUE
At 30 June 2024 130,451
At 30 June 2023 130,451

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,251 2,236
Amounts owed by associates 1,488 13,488
Other debtors 55,847 67,834
63,586 83,558

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 25,985 61,296
Trade creditors 9,647 19,993
Taxation and social security 44,212 29,631
Other creditors 116,857 115,157
196,701 226,077

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 38,303 53,461

Carbon Property Solutions Ltd (Registered number: SC371817)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 14,889 15,036

Deferred
tax
£   
Balance at 1 July 2023 15,036
Provided during year (147 )
Balance at 30 June 2024 14,889

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
Paul J R Slater
Balance outstanding at start of year 35,862 -
Amounts advanced 32,139 35,862
Amounts repaid (48,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 20,001 35,862

Mrs L Slater
Balance outstanding at start of year 31,972 -
Amounts advanced 40,174 31,972
Amounts repaid (36,300 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 35,846 31,972

Directors overdrawn balances will be paid within 9 months of the year end.