Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01falseThe company's principal activity is continued to be that of property investment.22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10552992 2023-02-01 2024-01-31 10552992 2022-02-01 2023-01-31 10552992 2024-01-31 10552992 2023-01-31 10552992 c:Director1 2023-02-01 2024-01-31 10552992 d:FreeholdInvestmentProperty 2024-01-31 10552992 d:FreeholdInvestmentProperty 2023-01-31 10552992 d:CurrentFinancialInstruments 2024-01-31 10552992 d:CurrentFinancialInstruments 2023-01-31 10552992 d:Non-currentFinancialInstruments 2024-01-31 10552992 d:Non-currentFinancialInstruments 2023-01-31 10552992 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 10552992 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 10552992 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 10552992 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 10552992 d:ShareCapital 2024-01-31 10552992 d:ShareCapital 2023-01-31 10552992 d:OtherMiscellaneousReserve 2023-02-01 2024-01-31 10552992 d:OtherMiscellaneousReserve 2024-01-31 10552992 d:OtherMiscellaneousReserve 2023-01-31 10552992 d:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 10552992 d:RetainedEarningsAccumulatedLosses 2024-01-31 10552992 d:RetainedEarningsAccumulatedLosses 2023-01-31 10552992 c:FRS102 2023-02-01 2024-01-31 10552992 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 10552992 c:FullAccounts 2023-02-01 2024-01-31 10552992 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10552992 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 10552992 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 10552992 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 10552992










CARLTON PROPERTIES LONDON LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
CARLTON PROPERTIES LONDON LTD
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7

 
CARLTON PROPERTIES LONDON LTD
REGISTERED NUMBER: 10552992

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
3,320,000
3,320,000

  
3,320,000
3,320,000

Current assets
  

Debtors: amounts falling due within one year
 5 
17,552
16,302

Bank and cash balances
  
51,439
80,823

  
68,991
97,125

Creditors: amounts falling due within one year
 6 
(1,439,258)
(1,447,722)

Net current liabilities
  
 
 
(1,370,267)
 
 
(1,350,597)

Total assets less current liabilities
  
1,949,733
1,969,403

Creditors: amounts falling due after more than one year
 7 
(1,450,000)
(1,490,000)

Provisions for liabilities
  

Deferred tax
 8 
(53,338)
(53,338)

  
 
 
(53,338)
 
 
(53,338)

Net assets
  
446,395
426,065


Capital and reserves
  

Called up share capital 
  
50,000
50,000

Other reserves
 9 
160,015
160,015

Profit and loss account
 9 
236,380
216,050

  
446,395
426,065


The directors consider 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
 
Page 1

 
CARLTON PROPERTIES LONDON LTD
REGISTERED NUMBER: 10552992
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024


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 on 30 October 2024.


Majed Al Kamali
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
CARLTON PROPERTIES LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Carlton Properties London Limited is a private company limited by share capital, incorporated in England and Wales, registration number 10552992. The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

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

Turnover represents rental income from investment properties. Turnover on rental income is recognised in proportion to the lease agreement with full provision made for all foreseeable costs. Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.3

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.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
CARLTON PROPERTIES LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.4
Current and deferred taxation (continued)

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
Page 4

 
CARLTON PROPERTIES LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)


Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

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


4.


Investment property


Freehold investment property

£



Valuation


At 1 February 2023
3,320,000



At 31 January 2024
3,320,000

A professional valuation of the company's freehold property was carried out on 18 May 2022 by Colliers.
The historical cost of the above property at 31 January 2024 is £3,106,647 (2023: £3,106,647).



Page 5

 
CARLTON PROPERTIES LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Debtors

2024
2023
£
£


Other debtors
16,302
16,302

Prepayments and accrued income
1,250
-

17,552
16,302



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
40,000
40,000

Corporation tax
4,769
8,465

Other creditors
1,386,503
1,392,503

Accruals and deferred income
7,986
6,754

1,439,258
1,447,722


The bank loan is secured by a legal charge over the freehold property held in the company. In addition, there is a cross company guarentee from a company under common control and a debenture and legal charge over a property held by another company under common control. 


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,450,000
1,490,000



8.


Deferred taxation




2024


£






At beginning of year
53,338



At end of year
53,338

Page 6

 
CARLTON PROPERTIES LONDON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
 
8.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fair value movement on freehold property
53,338
53,338

53,338
53,338


9.


Reserves

Other reserves

Other reserves is made up of the fair value movement on investment property less the deferred tax arising thereon.

Profit and loss account

Profit and loss reserves relate to accumulated profits less dividends paid.


10.


Related party transactions

Included within Other creditors are loans of £924,803 (2023: £930,803) and £450,300 (2023: £450,300) from companies under common control. The loans are interest free and repayable on demand. 

 
Page 7