Caseware UK (AP4) 2023.0.135 2023.0.135 trueis that of development of building projects and management consultancy.2023-01-01false2019trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08833435 2023-01-01 2023-12-31 08833435 2023-12-31 08833435 2022-01-01 2022-12-31 08833435 2022-12-31 08833435 c:Director4 2023-01-01 2023-12-31 08833435 d:PlantMachinery 2023-01-01 2023-12-31 08833435 d:PlantMachinery 2023-12-31 08833435 d:PlantMachinery 2022-12-31 08833435 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08833435 d:MotorVehicles 2023-01-01 2023-12-31 08833435 d:MotorVehicles 2023-12-31 08833435 d:MotorVehicles 2022-12-31 08833435 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08833435 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 08833435 d:OtherPropertyPlantEquipment 2023-12-31 08833435 d:OtherPropertyPlantEquipment 2022-12-31 08833435 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08833435 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08833435 d:CurrentFinancialInstruments 2023-12-31 08833435 d:CurrentFinancialInstruments 2022-12-31 08833435 d:CurrentFinancialInstruments 3 2023-12-31 08833435 d:CurrentFinancialInstruments 3 2022-12-31 08833435 d:Non-currentFinancialInstruments 2023-12-31 08833435 d:Non-currentFinancialInstruments 2022-12-31 08833435 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08833435 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08833435 d:ShareCapital 2023-12-31 08833435 d:ShareCapital 2022-12-31 08833435 d:RetainedEarningsAccumulatedLosses 2023-12-31 08833435 d:RetainedEarningsAccumulatedLosses 2022-12-31 08833435 c:OrdinaryShareClass1 2023-01-01 2023-12-31 08833435 c:OrdinaryShareClass1 2023-12-31 08833435 c:OrdinaryShareClass1 2022-12-31 08833435 c:FRS102 2023-01-01 2023-12-31 08833435 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08833435 c:FullAccounts 2023-01-01 2023-12-31 08833435 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08833435 6 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 08833435













Carlton Power Limited

Financial statements
Information for filing with the registrar

31 December 2023




 
Carlton Power Limited


Balance sheet
At 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
709,955
758,897

Investments
 5 
2,340,644
1,044,215

  
3,050,599
1,803,112

Current assets
  

Debtors: amounts falling due after more than one year
 6 
160,886
187,129

Debtors
 6 
16,673,074
15,163,019

Cash at bank and in hand
  
2,710,694
109,528

  
19,544,654
15,459,676

Creditors: amounts falling due within one year
 7 
(19,171,465)
(14,179,702)

Net current assets
  
 
 
373,189
 
 
1,279,974

Total assets less current liabilities
  
3,423,788
3,083,086

Deferred tax
  
(175,397)
(196,680)

  
 
 
(175,397)
 
 
(196,680)

Net assets
  
3,248,391
2,886,406


Capital and reserves
  

Called up share capital 
 9 
-
-

Profit and loss account
  
3,248,391
2,886,406

Shareholders' funds
  
3,248,391
2,886,406


1

 
Carlton Power Limited

    
Balance sheet (continued)
At 31 December 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 September 2024.




S J Pickup
Director

Company registered number: 08833435
The notes on pages 3 to 7 form part of these financial statements. 

2

 
Carlton Power Limited
 
 

Notes to the financial statements
Year ended 31 December 2023

1.


General information

Carlton Power Limited is a private company limited by shares incorporated and domiciled in England and Wales. The registered office is 26 Ellerbeck Court, Stokesley, Middlesbrough, England, TS9 5PT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

  
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the company can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3

 
Carlton Power Limited
 

 
Notes to the financial statements
Year ended 31 December 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as detailed below.

Depreciation is provided on the following basis:

Aircraft
-
20 year straight line
Motor vehicles
-
25% reducing balance
Other fixed assets
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 20 (2022 - 19).

4

 
Carlton Power Limited
 
 

Notes to the financial statements
Year ended 31 December 2023

4.


Tangible fixed assets





Aircraft
Motor vehicles
Other fixed assets
Total

£
£
£
£



Cost


At 1 January 2023
788,242
12,083
1,549
801,874


Additions
15,691
-
-
15,691


Disposals
-
(12,083)
-
(12,083)


Revaluations
(16,068)
-
-
(16,068)



At 31 December 2023

787,865
-
1,549
789,414



Depreciation


At 1 January 2023
39,412
3,210
355
42,977


Charge for the year
39,393
832
299
40,524


Disposals
-
(4,042)
-
(4,042)



At 31 December 2023

78,805
-
654
79,459



Net book value



At 31 December 2023
709,060
-
895
709,955



At 31 December 2022
748,830
8,873
1,194
758,897


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 January 2023
1,044,215


Additions
1,302,084


Disposals
(5,655)



At 31 December 2023
2,340,644




5

 
Carlton Power Limited
 
 

Notes to the financial statements
Year ended 31 December 2023

6.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
160,886
187,129

160,886
187,129


2023
2022
£
£

Due within one year

Trade debtors
2,196
2,681

Amounts owed by group undertakings
13,402,866
14,889,741

Amounts owed by connected companies
77,383
-

Other debtors
815,629
270,597

Deferred consideration
2,375,000
-

16,673,074
15,163,019



7.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
211,983
47,842

Amounts owed to group undertakings
17,681,716
13,844,628

Other taxation and social security
127,166
93,033

Other creditors
1,124,155
-

Accruals and deferred income
26,445
194,199

19,171,465
14,179,702


6

 
Carlton Power Limited
 
 

Notes to the financial statements
Year ended 31 December 2023

8.


Contingent liabilities

In 2014, the company acquired 100% of the share capital in Thorpe Marsh Power Limited. In addition to the purchase price of £1, the sale and purchase agreement defines a number of amounts that become payable by Carlton Power Limited if Thrope Marsh Power Limited achieves a specified milestone.
Achievement of the specified milestone is subject to a number of conditions outside the control of both Carlton Power Limited and Thorpe Marsh Power Limited and therefore the directors have considered the likelihood of achieving the milestones and consider it remote. Consequently, a potential maximum liability of £15,935,957 (2022 : £15,935,957) has not been provided for in these financial statements.
As part of the acquisition of Thorpe Marsh Power Limited in 2014 the shareholder loan that was payable by Thorpe Marsh Power Limited to the seller was assigned to the company. The loan amounted to £7,465,512 (2022 : £7,465,512), but is not included in the loan accounts above. This loan has not been recognised in these financial statements as Thorpe Marsh Power Limited is unlikely to have the resources to pay unless it achieves future milestones, which is considered improbable.


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



7 (2022 - 7) ordinary shares of £0.01 each
-
-



10.


Directors' transactions

During the year the company operated a loan account with one of its directors. At the year end the amount owed to the company by the director was £157,683 (2022: £174,395). Loan interest of £3,558 (2022 : £595) was accrued during the year.


11.


Parent company

The company is a subsidiary of Carlton Energy Limited by virtue of it holding all share capital.
The registered office of Carlton Energy Limited is 26 Ellerbeck Court, Stokesley, Middlesbrough, England, TS9 5PT.

 
7