Company registration number 08421071 (England and Wales)
CARACARA ENERGY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
CARACARA ENERGY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CARACARA ENERGY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
26,000
18,447
Cash at bank and in hand
10,979
71,510
36,979
89,957
Creditors: amounts falling due within one year
5
(23,810)
(46,768)
Net current assets
13,169
43,189
Creditors: amounts falling due after more than one year
6
(10,449)
(15,014)
Net assets
2,720
28,175
Capital and reserves
Called up share capital
7
-
0
-
0
Profit and loss reserves
2,720
28,175
Total equity
2,720
28,175

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 26 August 2024 and are signed on its behalf by:
Nicholas Briggs
Director
Company registration number 08421071 (England and Wales)
CARACARA ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Caracara Energy Limited is a private company limited by shares incorporated in England and Wales. The registered office is First Floor, Sheraton House, Lower Road, Chorleywood, Hertfordshire, WD3 5LH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
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.

1.4
Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.5
Taxation

The tax expense represents the sum of tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

CARACARA ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised 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 calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised.

1.6
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.7

Fixed Assets

Caracara Energy Ltd establishes £1,000 as the threshold amount for minimum capitalisation. Any items purchased with a cost below the threshold will be expensed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was: 0 (2022: 1).

2023
2022
Number
Number
Total
-
0
1
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
6,000
18,270
Other debtors
20,000
177
26,000
18,447
CARACARA ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
4,783
4,783
Corporation tax
15,137
28,334
Other taxation and social security
2,160
12,269
Other creditors
1,730
1,382
23,810
46,768
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
10,449
15,014

Bank loans and overdrafts includes a Bounce Back Loan of £23,518 repayable from March 2022 over 59 months with interest charged at a fixed rate of 2.5% applicable until the final repayment date.

7
Called up share capital

5,000,000 ordinary shares of 1p each were issued as nil paid and uncalled at the balance sheet date.

2023-12-312023-01-01falseCCH SoftwareCCH Accounts Production 2024.200No description of principal activityNicholas BriggsMary BriggsNicholas Briggsfalsefalse084210712023-01-012023-12-31084210712023-12-31084210712022-12-3108421071core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3108421071core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3108421071core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3108421071core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3108421071core:CurrentFinancialInstruments2023-12-3108421071core:CurrentFinancialInstruments2022-12-3108421071core:ShareCapital2023-12-3108421071core:ShareCapital2022-12-3108421071core:RetainedEarningsAccumulatedLosses2023-12-3108421071core:RetainedEarningsAccumulatedLosses2022-12-3108421071bus:CompanySecretaryDirector12023-01-012023-12-31084210712022-01-012022-12-3108421071core:WithinOneYear2023-12-3108421071core:WithinOneYear2022-12-3108421071core:Non-currentFinancialInstruments2023-12-3108421071core:Non-currentFinancialInstruments2022-12-3108421071bus:PrivateLimitedCompanyLtd2023-01-012023-12-3108421071bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3108421071bus:FRS1022023-01-012023-12-3108421071bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3108421071bus:Director12023-01-012023-12-3108421071bus:Director22023-01-012023-12-3108421071bus:CompanySecretary12023-01-012023-12-3108421071bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP