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Registered number: 06328204










CARLOS INVESTMENTS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
CARLOS INVESTMENTS LTD
REGISTERED NUMBER: 06328204

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,891
4,917

  
4,891
4,917

Current assets
  

Debtors: amounts falling due within one year
 5 
21,080
27,280

Cash at bank and in hand
 6 
153
14,088

Current Liabilities
  
21,233
41,368

Creditors: amounts falling due within one year
 7 
(12,784)
(11,223)

Net current assets
  
 
 
8,449
 
 
30,145

Total assets less current liabilities
  
13,340
35,062

Creditors: amounts falling due after more than one year
 8 
(42,509)
(43,802)

  

Net liabilities
  
(29,169)
(8,740)


Capital and reserves
  

Called up share capital 
 10 
3,600
3,600

Profit and loss account
  
(32,769)
(12,340)

  
(29,169)
(8,740)


Page 1

 
CARLOS INVESTMENTS LTD
REGISTERED NUMBER: 06328204

BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The director considers 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 director acknowledges his 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 by: 




T P C Monckton
Director

Date: 25 September 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CARLOS INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Carlos Investments Ltd is a private company, limited by shares and registered in England and Wales. The  registered address is Burnt Hill House, Burnt Hill, Yattendon, Berkshire, RG18 0XF.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
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. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Going concern

The director has committed to providing support to the company to enable it to continue in operational existence for the 12 months following the financial year end, at which point this support will be reviewed.

Page 3

 
CARLOS INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.5

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.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

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.

Page 4

 
CARLOS INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Computer equipment
-
25%

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.

 
2.8

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.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
CARLOS INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 February 2023
13,424


Additions
1,236



At 31 January 2024

14,660



Depreciation


At 1 February 2023
8,507


Charge for the year on owned assets
1,262



At 31 January 2024

9,769



Net book value



At 31 January 2024
4,891



At 31 January 2023
4,917


5.


Debtors

2024
2023
£
£


Other debtors
21,080
25,593

Prepayments and accrued income
-
1,687

21,080
27,280


Included within other debtors due within one year is a loan to Toby Monckton, a director, amounting to £nil (2023 - £9,776). The loan was interest free and repayable on demand.


6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
153
14,088

Less: bank overdrafts
(390)
-

(237)
14,088


Page 6

 
CARLOS INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
390
-

Bank loans
7,232
6,826

Other creditors
2,537
1,772

Accruals and deferred income
2,625
2,625

12,784
11,223


Included within other creditors due within one year is a loan from Toby Monckton, a director, amounting to £1,667 (2023 - £nil). Interest is charged on the loan at 10.25% per annum.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
39,176
43,802

Other creditors
3,333
-

42,509
43,802


Included within other creditors due after more than one year is a loan from Toby Monckton, a director, amounting to £3,333 (2023 - £nil). Interest is charged on the loan at 10.25% per annum.


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
7,232
6,826



Amounts falling due after more than 1 year

Bank loans
39,176
43,802

46,408
50,628


The company took a Business Bounceback Loan in 2020 of £50,000. The bank loan was interest free up to 1 June 2021 and interest is payable at 2.5% thereafter. The loan is repayable over 10 years.

Page 7

 
CARLOS INVESTMENTS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,200 (2023 - 1,200) Ordinary A shares of £1.00 each
1,200
1,200
1,200 (2023 - 1,200) Ordinary B shares of £1.00 each
1,200
1,200
1,200 (2023 - 1,200) Ordinary C shares of £1.00 each
1,200
1,200

3,600

3,600



Page 8