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Registered number: 03999322
Carmichael-Browns Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
SIFAR LTD
Unit 14, The Maltings Industrial Estate
Hall Road
Southminster
Essex
CM0 7EQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03999322
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 41,449 41,881
41,449 41,881
CURRENT ASSETS
Stocks 5 3,500 9,216
Debtors 6 14,671 204,058
Cash at bank and in hand 32,762 6,598
50,933 219,872
Creditors: Amounts Falling Due Within One Year 7 (178,506 ) (340,197 )
NET CURRENT ASSETS (LIABILITIES) (127,573 ) (120,325 )
TOTAL ASSETS LESS CURRENT LIABILITIES (86,124 ) (78,444 )
NET LIABILITIES (86,124 ) (78,444 )
CAPITAL AND RESERVES
Called up share capital 8 502 502
Profit and Loss Account (86,626 ) (78,946 )
SHAREHOLDERS' FUNDS (86,124) (78,444)
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Stephen Carmichael Brown
Director
6th November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Carmichael-Browns Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03999322 . The registered office is Knowle Cottage, Common Lane, The Ridge, Essex, CM3 4RY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold At Cost
Leasehold At Cost
Plant & Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Bad Debt Provision
A bad debt provision of £115,163 has been included at the year end.  This debt became a bad debt during June 2024 however at the reporting date, the directors believed that this was still going to be paid to them.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 34,627 726 27,804 14,110
Additions - - - -
As at 31 March 2024 34,627 726 27,804 14,110
Depreciation
As at 1 April 2023 - 722 27,342 8,994
Provided during the period - 2 115 767
As at 31 March 2024 - 724 27,457 9,761
Net Book Value
As at 31 March 2024 34,627 2 347 4,349
As at 1 April 2023 34,627 4 462 5,116
Computer Equipment Total
£ £
Cost
As at 1 April 2023 19,571 96,838
Additions 994 994
As at 31 March 2024 20,565 97,832
Depreciation
As at 1 April 2023 17,899 54,957
Provided during the period 542 1,426
As at 31 March 2024 18,441 56,383
Net Book Value
As at 31 March 2024 2,124 41,449
As at 1 April 2023 1,672 41,881
5. Stocks
2024 2023
£ £
Stock 3,500 9,216
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Page 5
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 8,893 203,850
Prepayments and accrued income 2,565 208
VAT 3,213 -
14,671 204,058
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,169 10,712
VAT - 43,054
CIS Liability - (174 )
Other Creditors < 1 year 2,365 1,196
Accruals and deferred income - 52,383
Directors' loan accounts 172,972 233,026
178,506 340,197
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 502 502
Page 5