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REGISTERED NUMBER: 02227247 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

CARRERA ESTATES LIMITED

CARRERA ESTATES LIMITED (REGISTERED NUMBER: 02227247)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CARRERA ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J P Cavill
V M Christensen





SECRETARY: V M Christensen





REGISTERED OFFICE: 5 Burns Close
Long Crendon
Buckinghamshire
HP18 9BX





REGISTERED NUMBER: 02227247 (England and Wales)





ACCOUNTANTS: J H Thompson & Co.
5 Burns Close
Long Crendon
Aylesbury
Buckinghamshire
HP18 9BX

CARRERA ESTATES LIMITED (REGISTERED NUMBER: 02227247)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 240 320
Investment property 5 2,000,000 2,000,000
2,000,240 2,000,320

CURRENT ASSETS
Debtors 6 72,574 66,751
Cash in hand 44,134 52,405
116,708 119,156
CREDITORS: AMOUNTS FALLING
DUE WITHIN ONE YEAR

7

188,106

190,490
NET CURRENT LIABILITIES (71,398 ) (71,334 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,928,842

1,928,986

CREDITORS: AMOUNTS FALLING
DUE AFTER MORE THAN ONE
YEAR


8


(30,621


)


(50,549


)

PROVISIONS FOR LIABILITIES 11 (287,434 ) (287,434 )
NET ASSETS 1,610,787 1,591,003

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 12 1,225,375 1,225,375
Retained earnings 385,410 365,626
SHAREHOLDERS' FUNDS 1,610,787 1,591,003

CARRERA ESTATES LIMITED (REGISTERED NUMBER: 02227247)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 13 September 2024 and were signed on its behalf by:





J P Cavill - Director


CARRERA ESTATES LIMITED (REGISTERED NUMBER: 02227247)

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

1. STATUTORY INFORMATION

Carrera Estates 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 as modified by the revaluation of certain assets.

RELATED PARTY EXEMPTION
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

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.

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 statement of financial position date.


CARRERA ESTATES LIMITED (REGISTERED NUMBER: 02227247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

FREEHOLD INVESTMENT PROPERTIES
In accordance with FRS 102 the company includes freehold investment properties in the financial statements at fair value. Accordingly no depreciation is is charged to the Profit & Loss Account. It is the policy of the company to maintain its properties to a standard which avoids any diminution in value. This may be a departure from the requirements of the Companies Act 2006, which requires properties to be depreciated. In the opinion of the directors this departure is necessary for the financial statements to give a true and fair view in accordance with applicable accounting standards, as properties are included in the financial statements at their fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 19,100 4,872 23,972
DEPRECIATION
At 1 April 2023 18,844 4,808 23,652
Charge for year 64 16 80
At 31 March 2024 18,908 4,824 23,732
NET BOOK VALUE
At 31 March 2024 192 48 240
At 31 March 2023 256 64 320

CARRERA ESTATES LIMITED (REGISTERED NUMBER: 02227247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 2,000,000
NET BOOK VALUE
At 31 March 2024 2,000,000
At 31 March 2023 2,000,000

Included in fair value of investment property is freehold land of £ 2,000,000 (2023 - £ 2,000,000 ) which is not depreciated.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2006 1,012,809
Valuation in 2017 500,000
Cost 487,191
2,000,000

If Investment Properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 487,191 487,191

Investment Properties were valued on a fair value basis on 31 March 2021 by the directors based upon advice .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 16,812
Other debtors 72,574 49,939
72,574 66,751

CARRERA ESTATES LIMITED (REGISTERED NUMBER: 02227247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 21,592 21,592
Trade creditors 1,626 10,939
Taxation and social security 23,123 26,802
Other creditors 141,765 131,157
188,106 190,490

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 30,621 50,549

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 13,630

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 21,592 21,592

Amounts falling due between one and two years:
Bank loans - 1-2 years 21,592 21,592

Amounts falling due between two and five years:
Bank loans - 2-5 years 9,029 15,327

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 13,630

CARRERA ESTATES LIMITED (REGISTERED NUMBER: 02227247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank Loan 52,213 72,141

The bank loan is secured by a fixed and floating charge over the investment properties.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax revaluation 287,434 287,434

Deferred
tax
£   
Balance at 1 April 2023 287,434
Balance at 31 March 2024 287,434

12. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 1,225,375

13. OTHER FINANCIAL COMMITMENTS

There were no capital commitments, future financial commitments or contingent liabilities outstanding at 31 March 2024.

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company conducted trade on normal commercial terms with the following businesses in which the directors had a material interest :

J P Cavill - J P Cavill Business Account - Purchase professional services £12,000;

V M Christensen - Mark Investments Ltd. - Purchase professional services £12,000;

J P Cavill & V M Christensen - Carrera Land Partnership - Purchase property services £12,000; Recharge of admin. exps. £10,000

J P Cavill and V M Christensen each received £29,250 in dividends for the year ended 31 March 2024.

CARRERA ESTATES LIMITED (REGISTERED NUMBER: 02227247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

15. ULTIMATE CONTROLLING PARTY

The company does not have a single ultimate controlling party.