Registered number
10607686
Carm Enterprises Limited
Filleted Accounts
29 February 2024
Carm Enterprises Limited
Registered number: 10607686
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 180 180
Current assets
Debtors 4 13,965 30,643
Cash at bank and in hand 1,988 5,177
15,953 35,820
Creditors: amounts falling due within one year 5 (38,837) (35,595)
Net current (liabilities)/assets (22,884) 225
Net (liabilities)/assets (22,704) 405
Capital and reserves
Called up share capital 1,100 1,100
Profit and loss account (23,804) (695)
Shareholders' funds (22,704) 405
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R J McLoughlin
Director
Approved by the board on 25 November 2024
Carm Enterprises Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 March 2023 180
At 29 February 2024 180
4 Debtors 2024 2023
£ £
Trade debtors - 6,200
Other debtors 13,965 24,443
13,965 30,643
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 420 3,700
Taxation and social security costs 29,421 27,695
Other creditors 8,996 4,200
38,837 35,595
6 Loans to directors
See note 7 for terms of the loans B/fwd Paid Repaid C/fwd
£ £ £ £
R J McLoughlin
Loan 9,713 - (11,008) (1,295)
9,713 - (11,008) (1,295)
7 Related party transactions
The director is a related party to the company. At 28 February, the company owed the related party (at 28 February 2023, the related party owed the company) the loans as discosed in note 6 to the accounts. The loans are provided interest-free and are short term, unsecured loans, that are repayable upon demand.
Carm Productions Limited as a subsidiary of the company is a related party. At 28 February the related party was owed £13,179 (2023: £13,179) by the company in unsecured, interest free loans, that are short term and payable upon demand.
8 Controlling party
Mr R J McLoughlin is the ultimate controlling party by virtue of his majority ownership of the issued share capital of the company.
9 Other information
Carm Enterprises Limited is a private company limited by shares and incorporated in England. Its registered office is:
89 Chorley Road
Swinton
Manchester
M27 4AA
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