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REGISTERED NUMBER: 02293665 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CARMEL SECURITIES LIMITED

CARMEL SECURITIES LIMITED (REGISTERED NUMBER: 02293665)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CARMEL SECURITIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S B Goodman
Mrs S J Goodman





SECRETARY: Mrs S J Goodman





REGISTERED OFFICE: C/o Civvals Limited
50 Seymour Street
London
W1H 7JG





REGISTERED NUMBER: 02293665 (England and Wales)





ACCOUNTANTS: Orcom Civvals Limited
Accountants
50 Seymour Street
London
W1H 7JG

CARMEL SECURITIES LIMITED (REGISTERED NUMBER: 02293665)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 415,000 415,000

CURRENT ASSETS
Debtors 5 - 1,748
Cash at bank 10,632 9,859
10,632 11,607
CREDITORS
Amounts falling due within one year 6 54,373 50,486
NET CURRENT LIABILITIES (43,741 ) (38,879 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

371,259

376,121

CREDITORS
Amounts falling due after more than
one year

7

(51,422

)

(51,422

)

PROVISIONS FOR LIABILITIES (50,833 ) (50,833 )
NET ASSETS 269,004 273,866

CAPITAL AND RESERVES
Called up share capital 4 4
Fair value reserve 8 260,971 260,971
Retained earnings 8,029 12,891
SHAREHOLDERS' FUNDS 269,004 273,866

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.

CARMEL SECURITIES LIMITED (REGISTERED NUMBER: 02293665)

BALANCE SHEET - 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:





S B Goodman - Director


CARMEL SECURITIES LIMITED (REGISTERED NUMBER: 02293665)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Carmel Securities 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 as modified by the revaluation of certain assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property
In accordance with Statement of Standard Accounting Practice 19, the company's property is held for long-term investment and is included in the Balance sheet at its open market value.The surplus or deficit on annual revaluation is transferred to the revaluation reserve. No depreciation is provided in respect of freehold investment property.

This policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The director considers that this policy is necessary in order that the Accounts may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.


Turnover
Turnover represents net invoiced value of rents and service charges receivable.

3. EMPLOYEES AND DIRECTORS

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

CARMEL SECURITIES LIMITED (REGISTERED NUMBER: 02293665)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 415,000
NET BOOK VALUE
At 31 December 2023 415,000
At 31 December 2022 415,000

The investment properties were revalued by S B Goodman, a director of the company, on the basis of the open market valuation at 31 December 2021.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2021 322,187
Cost 92,813
415,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 1,748

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax 3,551 3,638
Other creditors 9,934 9,934
Directors' current accounts 40,000 36,050
Accrued expenses 888 864
54,373 50,486

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Directors' loan accounts 51,422 51,422

CARMEL SECURITIES LIMITED (REGISTERED NUMBER: 02293665)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 260,971

9. CONTROL

The company is controlled by Mrs S J Goodman by virtue of her 100% ownership of the issued ordinary shares of the company.