Company registration number 03409903 (England and Wales)
CAROTINO (EU) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
CAROTINO (EU) LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
CAROTINO (EU) LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
425,299
318,567
Debtors
4
272,534
108,951
Cash at bank and in hand
124,948
210,727
822,781
638,245
Creditors: amounts falling due within one year
5
(2,546,553)
(2,596,695)
Net current liabilities
(1,723,772)
(1,958,450)
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss reserves
(1,733,772)
(1,968,450)
Total equity
(1,723,772)
(1,958,450)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 29 November 2024 and are signed on its behalf by:
Dr V S Saraph
Director
Company registration number 03409903 (England and Wales)
CAROTINO (EU) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 July 2022
10,000
(2,259,083)
(2,249,083)
Year ended 30 June 2023:
Profit and total comprehensive income for the year
-
290,633
290,633
Balance at 30 June 2023
10,000
(1,968,450)
(1,958,450)
Year ended 30 June 2024:
Profit and total comprehensive income for the year
-
234,678
234,678
Balance at 30 June 2024
10,000
(1,733,772)
(1,723,772)
CAROTINO (EU) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

Carotino (EU) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 17-18, Trinity Enterprise Centre, Furness Business Park, Ironworks Road, Barrow-in-Furness, LA14 2PN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The accounts are prepared on a going concern basis on the grounds that it will continue to be supported by its holding company (see note true7). The company has net liabilities of £1,723,772 but £2,475,680 is owed to its holding company which has indicated that it will continue to support its subsidiary.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

CAROTINO (EU) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

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 the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
251,375
89,749
Other debtors
21,159
19,202
272,534
108,951
CAROTINO (EU) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,498,159
2,516,806
Amounts owed to holding company
-
0
35,663
Taxation and social security
211
211
Other creditors
48,183
44,015
2,546,553
2,596,695

Trade creditors include £2,475,680 due to the holding company.

6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
James Goffe BA FCA
Statutory Auditor:
Melville & Co
Date of audit report:
29 November 2024
7
Parent company

The company is a subsidiary of Carotino SDN BHD, a company registered in Malaysia which holds 100% of the issued shares. The holding company is owed £2,475,680 at 30 June 2024 (2023 - £2,548,547).

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