Ottery St. Mary Carnival And Tar Barrels Ltd 03268838 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is The company's principle activity continued to be that of organising, presenting, promoting and arranging the Annual Ottery St. Mary Carnival for the benefit of the public in Ottery St. Mary and its surrounding district. The company was incorporated on 24 October 1996 as a private company, limited by guarantee, exempted from using the word 'Limited'. The company took over the undertaking of the Ottery St. Mary Carnival Committee and indemnified each and any of its members and honorary officers against costs, claims, expenses and liabilities incurred in the proper conduct of the business of the said committee Digita Accounts Production Advanced 6.30.9574.0 true true 03268838 2023-04-01 2024-03-31 03268838 2024-03-31 03268838 core:FurnitureFittingsToolsEquipment 2024-03-31 03268838 bus:SmallEntities 2023-04-01 2024-03-31 03268838 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03268838 bus:AbridgedAccounts 2023-04-01 2024-03-31 03268838 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03268838 bus:RegisteredOffice 2023-04-01 2024-03-31 03268838 bus:Director1 2023-04-01 2024-03-31 03268838 bus:Director10 2023-04-01 2024-03-31 03268838 bus:Director3 2023-04-01 2024-03-31 03268838 bus:Director5 2023-04-01 2024-03-31 03268838 bus:Director6 2023-04-01 2024-03-31 03268838 bus:Director7 2023-04-01 2024-03-31 03268838 bus:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 03268838 bus:Agent1 2023-04-01 2024-03-31 03268838 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 03268838 core:PlantMachinery 2023-04-01 2024-03-31 03268838 countries:EnglandWales 2023-04-01 2024-03-31 03268838 2023-03-31 03268838 core:FurnitureFittingsToolsEquipment 2023-03-31 03268838 2022-04-01 2023-03-31 03268838 2023-03-31 03268838 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure

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Registration number: 03268838

Ottery St. Mary Carnival And Tar Barrels Ltd

(A company limited by guarantee)

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2024

 

Ottery St. Mary Carnival And Tar Barrels Ltd

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Ottery St. Mary Carnival And Tar Barrels Ltd

Company Information

Directors

Mr. A. Wade

Mr. R. Shaw

Mr D Strawbridge

Mr G Paddon

Mrs E White

Mr A Franks

Registered office

c/o Easterbrook Eaton Ltd
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

Accountants

Easterbrook Eaton Limited
Chartered Accountants
Easterbrook Eaton Limited (Chartered Accountants)
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Ottery St. Mary Carnival And Tar Barrels Ltd
for the 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 accounts of Ottery St. Mary Carnival And Tar Barrels Ltd for the year ended 31 March 2024 as set out on pages 3 to 6 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/regulation.

This report is made solely to the Board of Directors of Ottery St. Mary Carnival And Tar Barrels Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Ottery St. Mary Carnival And Tar Barrels Ltd and state those matters that we have agreed to state to the Board of Directors of Ottery St. Mary Carnival And Tar Barrels Ltd, 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 Ottery St. Mary Carnival And Tar Barrels Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ottery St. Mary Carnival And Tar Barrels Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Ottery St. Mary Carnival And Tar Barrels Ltd. You consider that Ottery St. Mary Carnival And Tar Barrels Ltd 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 accounts of Ottery St. Mary Carnival And Tar Barrels Ltd. 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 accounts.

......................................

Easterbrook Eaton Limited
Chartered Accountants
Easterbrook Eaton Limited (Chartered Accountants)
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

28 October 2024

 

Ottery St. Mary Carnival And Tar Barrels Ltd

(Registration number: 03268838)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1,925

2,567

Current assets

 

Stocks

6

18,700

-

Cash at bank and in hand

 

14,469

12,037

 

33,169

12,037

Total assets less current liabilities

 

35,094

14,604

Accruals and deferred income

 

(330)

(300)

Net assets

 

34,764

14,304

Reserves

 

Retained earnings

34,764

14,304

Surplus

 

34,764

14,304

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 28 October 2024 and signed on its behalf by:
 

.........................................
Mr. A. Wade
Director

.........................................
Mr. R. Shaw
Director

 

Ottery St. Mary Carnival And Tar Barrels Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
c/o Easterbrook Eaton Ltd
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

These financial statements were authorised for issue by the Board on 28 October 2024.

2

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Ottery St. Mary Carnival And Tar Barrels Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

642

856

 

Ottery St. Mary Carnival And Tar Barrels Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

4,906

4,906

At 31 March 2024

4,906

4,906

Depreciation

At 1 April 2023

2,339

2,339

Charge for the year

642

642

At 31 March 2024

2,981

2,981

Carrying amount

At 31 March 2024

1,925

1,925

At 31 March 2023

2,567

2,567

6

Stocks

2024
£

2023
£

Other inventories

18,700

-

7

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.