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REGISTERED NUMBER: 02373543 (England and Wales)







Financial Statements for the Year Ended 31st December 2023

for

Carlton Smith Limited

Carlton Smith Limited (Registered number: 02373543)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Carlton Smith Limited

Company Information
for the Year Ended 31st December 2023







DIRECTOR: M C Smith





REGISTERED OFFICE: Station Approach
Station Road
Pershore
Worcestershire
WR10 2DB





REGISTERED NUMBER: 02373543 (England and Wales)





ACCOUNTANTS: The Richards Sandy Partnership
Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU

Carlton Smith Limited (Registered number: 02373543)

Abridged Balance Sheet
31st December 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,200 2,750
Tangible assets 5 1,780,649 1,782,665
Investments 6 82 82
Investment property 7 502,000 285,000
2,284,931 2,070,497

CURRENT ASSETS
Stocks 301,568 301,568
Debtors 375,081 334,014
Cash at bank 1,835,629 1,563,544
2,512,278 2,199,126
CREDITORS
Amounts falling due within one year 322,225 238,975
NET CURRENT ASSETS 2,190,053 1,960,151
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,474,984

4,030,648

PROVISIONS FOR LIABILITIES 61,507 20,675
NET ASSETS 4,413,477 4,009,973

CAPITAL AND RESERVES
Called up share capital 9 100 100
Non-distributable fund reserve 215,959 39,953
Retained earnings 4,197,418 3,969,920
SHAREHOLDERS' FUNDS 4,413,477 4,009,973

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Carlton Smith Limited (Registered number: 02373543)

Abridged Balance Sheet - continued
31st December 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19th September 2024 and were signed by:





M C Smith - Director


Carlton Smith Limited (Registered number: 02373543)

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

1. STATUTORY INFORMATION

Carlton Smith 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.

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, with the exception of investment properties and freehold land included within tangible fixed assets which are included at market value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £1.

CHANGES IN ACCOUNTING POLICIES
The company has changed its accounting policy such that freehold land and buildings are now measured at historical cost less depreciation, rather than measured at market value.

TURNOVER
Rents receivable are recognised on a straight-line basis over the term of the lease.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

BPS entitlements are being amortised evenly over their estimated useful life of six years.

TANGIBLE FIXED ASSETS
Tangible fixed assets are measured at cost less depreciation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Freehold land-not depreciated
Freehold buildings-2% on cost
Biological assets-5% on cost
Plant and machinery-15% on reducing balance
Office equipment-15% on reducing balance
Motor vehicles-25% on reducing balance

Freehold land and buildings rented to other group companies are included in tangible fixed assets and measured at cost less depreciation.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

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.

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

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11' Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the accounts where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Carlton Smith Limited (Registered number: 02373543)

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

2. ACCOUNTING POLICIES - continued

Cash equivalents
Short term investment bonds with a maturity date of 3 months or less are considered cash equivalents and are classified as cash at bank and in hand on the balance sheet.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction cost.

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 balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st January 2023
and 31st December 2023 3,300
AMORTISATION
At 1st January 2023 550
Amortisation for year 550
At 31st December 2023 1,100
NET BOOK VALUE

At 31st December 2023 2,200
At 31st December 2022 2,750

Carlton Smith Limited (Registered number: 02373543)

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st January 2023 2,040,909
Additions 25,181
At 31st December 2023 2,066,090
DEPRECIATION
At 1st January 2023 258,244
Charge for year 27,197
At 31st December 2023 285,441
NET BOOK VALUE
At 31st December 2023 1,780,649
At 31st December 2022 1,782,665

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1st January 2023
and 31st December 2023 82
NET BOOK VALUE
At 31st December 2023 82
At 31st December 2022 82

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st January 2023 285,000
Revaluations 217,000
At 31st December 2023 502,000
NET BOOK VALUE
At 31st December 2023 502,000
At 31st December 2022 285,000

Investment property have been revalued by the directors at the balance sheet date and a historical cost of £546,615 (2022 - £546,615).

8. SECURED DEBTS

Amounts owed to the director of £204,293 (2022 - £218,139) are secured by way of fixed and floating charges over all trade and assets of the company.

Carlton Smith Limited (Registered number: 02373543)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: as restated
£    £   
100 Ordinary 1 100 100

10. RELATED PARTY DISCLOSURES

The company has provided rent free use of a farm property to its subsidiary Church Farm Shrawley Limited.

11. PRIOR YEAR ADJUSTMENT

The company has changed its accounting policy such that freehold land and buildings are now measured at historical cost less depreciation, rather than measured at market value. The comparative figures have been changed accordingly, with tangible fixed assets reduced in value by £321,926, deferred tax reduced by £4,352, revaluation reserve of £314,245 derecognised and retained earnings reduced by £3,329 in regards to deferred tax adjustments.

The comparatives have also been restated as property held by the company with the intention of being redeveloped and then sold on as part of trading purposes was previously classed as investment property. The comparatives have been restated to reduce investment property by the market value of the property of £400,000 and increase stock by the historical cost of the property of £301,568. The non-distributable reserve has been reduced by the difference of £98,432.