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2023-04-01
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Company registration number:
03474419
Carltown Limited
Unaudited filleted financial statements
31 March 2024
Carltown Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Carltown Limited
Directors and other information
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Directors |
Mr P K Shadbolt |
(Resigned 11 September 2023) |
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Dr V G Fraser |
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Mr J J Hill |
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Mr T W Shadbolt |
(Appointed 11 September 2023) |
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Company number |
03474419 |
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Registered office |
First Floor Offices |
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99 Bancroft |
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Hitchin |
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Hertfordshire |
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SG5 1NQ |
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Accountants |
Hicks and Company |
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Chartered accountants |
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First Floor |
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99 Bancroft |
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Hitchin |
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Hertfordshire |
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SG5 4JJ |
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Bankers |
HSBC |
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1 Market Place |
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Hitchin |
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Hertfordshire |
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SG5 1DR |
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Carltown Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Carltown Limited
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Carltown Limited for the year ended 31 March 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Carltown Limited, as a body, in accordance with the terms of our engagement letter dated 25 April 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Carltown Limited and state those matters that we have agreed to state to the board of directors of Carltown Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Carltown Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Carltown Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Carltown Limited. You consider that Carltown Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Carltown Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hicks and Company
Chartered accountants
First Floor
99 Bancroft
Hitchin
Hertfordshire
SG5 4JJ
16 September 2024
Carltown Limited
Statement of financial position
31 March 2024
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2024 |
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2023 |
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Note |
£ |
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£ |
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£ |
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£ |
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Current assets |
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Debtors |
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5 |
13,581 |
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111,699 |
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Cash at bank and in hand |
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7,054 |
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6,239 |
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_______ |
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_______ |
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20,635 |
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117,938 |
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Creditors: amounts falling due |
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within one year |
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6 |
(
20,538) |
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(
117,841) |
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_______ |
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_______ |
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Net current assets |
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97 |
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97 |
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_______ |
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_______ |
Total assets less current liabilities |
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97 |
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97 |
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_______ |
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_______ |
Net assets |
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97 |
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97 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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2 |
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2 |
Replacement reserve |
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7 |
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94 |
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94 |
Profit and loss account |
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7 |
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1 |
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1 |
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_______ |
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_______ |
Shareholders funds |
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97 |
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97 |
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_______ |
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_______ |
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
16 September 2024
, and are signed on behalf of the board by:
Mr J J Hill
Director
Company registration number:
03474419
Carltown Limited
Statement of changes in equity
Year ended 31 March 2024
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Called up share capital |
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Replacement reserve |
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Profit and loss account |
Total |
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£ |
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£ |
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£ |
£ |
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At 1 April 2022 |
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2 |
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94 |
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1 |
97 |
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Profit for the year |
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- |
- |
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_______ |
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_______ |
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_______ |
_______ |
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Total comprehensive income for the year |
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- |
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- |
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- |
- |
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_______ |
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_______ |
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_______ |
_______ |
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At 31 March 2023 and 1 April 2023 |
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2 |
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94 |
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1 |
97 |
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Profit for the year |
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- |
- |
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_______ |
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_______ |
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_______ |
_______ |
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Total comprehensive income for the year |
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- |
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- |
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- |
- |
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_______ |
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_______ |
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_______ |
_______ |
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At 31 March 2024 |
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2 |
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94 |
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1 |
97 |
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_______ |
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_______ |
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_______ |
_______ |
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Carltown Limited
Notes to the financial statements
Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is First Floor Offices, 99 Bancroft, Hitchin, Hertfordshire, SG5 1NQ.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Turnover
Turnover represents the amount receivable from the landlords and tenant to equitably spread the costs of maintaining and managing the property.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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 measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2023:
1
).
5.
Debtors
|
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2024 |
2023 |
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£ |
£ |
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Service charge arrears |
|
13,183 |
110,616 |
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Other debtors |
|
398 |
1,083 |
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_______ |
_______ |
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13,581 |
111,699 |
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_______ |
_______ |
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6.
Creditors: amounts falling due within one year
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2024 |
2023 |
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£ |
£ |
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Service charges in advance |
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8,426 |
18,355 |
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Social security and other taxes |
|
- |
144 |
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Other creditors |
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12,112 |
99,342 |
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_______ |
_______ |
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20,538 |
117,841 |
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_______ |
_______ |
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7.
Replacement reserve
The replacement reserve represents amounts set aside for anticipated future expenditure in respect of the repair, replacement and renewal of the premises, the building, the estate and the landlord's plant and machinery as set out under the terms of the lease agreement held between the company, the freehold owners and the lessee.
8.
Related party transactions
During the year the company entered into the following transactions with related parties:
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Transaction value |
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Balance owed by/(owed to) |
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2024 |
2023 |
2024 |
2023 |
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|
£ |
£ |
£ |
£ |
|
Messrs John Shilcock - Management fees |
- |
21,711 |
- |
26,784 |
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John Shilcock Limited - Management fees |
5,940 |
- |
5,940 |
- |
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_______ |
_______ |
_______ |
_______ |
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Included in other creditors was the following loan from a business in which certain directors have an interest:Regal Chambers Joint Venture £- (2023 £62,000)The above loan was unsecured, interest free and repayable on demand.