Registration number:
Carysil UK Ltd
for the Year Ended 31 March 2024
Carysil UK Ltd
(Registration number: 09236888)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.
Approved and authorised by the
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Carysil UK Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.
Exemption from preparing group accounts
The company has taken advantage of the exemption in section 401 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that the company is included within the consolidated financial statements of their parent company, Carysil Limited.
Audit report
Carysil UK Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods. |
Foreign currency transactions and balances
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Carysil UK Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Financial instruments
‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company’s statement of financial position when the company
becomes party to the contractual provisions of the instrument.
Financial assets are classified into specified categories. The classification depends on the nature and purpose
of the financial assets and is determined at the time of recognition.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
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.
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 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.
Classification of Financial Liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the
assets of the company after deducting all of its liabilities.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies
and preference shares that are classified as debt, are initially recognised at transaction price unless the
arrangement constitutes a financing transaction, where the debt instrument is measured at the present value
of the future receipts discounted at a market rate of interest.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of
business 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 price and subsequently measured at amortised cost using the effective interest method.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investments |
2024 |
2023 |
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Investments in subsidiaries |
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Carysil UK Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Subsidiaries |
£ |
Cost or valuation |
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At 1 April 2023 |
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Additions |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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Lower Washford Mill
England and Wales |
Ordinary |
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Unit A, Azalea Close
England and Wales |
Ordinary |
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20 Whitcliffe Road,
England and Wales |
Ordinary |
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Carysil UK Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Subsidiary undertakings |
Carysil Products Ltd The principal activity of Carysil Products Ltd is |
Carysil Surfaces Ltd The principal activity of Carysil Surfaces Ltd is |
Carysil Brassware Limited The principal activity of Carysil Brassware Limited is |
Debtors |
2024 |
2023 |
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Prepayments |
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Other debtors |
- |
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Carysil UK Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Bank borrowings |
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Amounts owed to group undertakings |
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Other creditors |
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Creditors: amounts falling due after more than one year
2024 |
2023 |
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Due after one year |
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Bank borrowings |
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Other creditors |
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4,479,250 |
7,482,750 |
Included within bank borrowings is £5,883,250 (2023: £6,217,750) in relation to a loan which is secured by fixed and floating charge dated 1 April 2022. The charge was created by Export-Import Bank of India who created a fixed and floating charge over all the property or undertaking of the company as well as negative pledge.
A fixed and floating charge was created on 1 April 2022 by Abn Amro Asset Based Finance NV over the property or undertaking of the company as well as a negative pledge.
Parent and ultimate parent undertaking |
The company is exempt from the obligation to prepare consolidated accounts as the company is consolidated within it's parent company, Carysil Limited.
The company's immediate parent is
The most senior parent entity producing publicly available financial statements is
The address of Carysil Limited is:
A-702, 7th Floor, Kanakia Wall Street, Andheri (East), Mumbai, Maharashtra, 400093.
Carysil UK Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Related party transactions |
Summary of transactions with other related parties
The company has provided a cross guarantee with Carysil Products Ltd secured by way of an all asset debenture dated 01 April 2022 in respect of a factoring facility in favour of ABN Amro Asset Based Finance N.V.