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Registered number: 02147824
Carland Parks Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Chartered Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02147824
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 214,840 217,964
214,840 217,964
CURRENT ASSETS
Debtors 5 21,500 26,664
Cash at bank and in hand 60,321 28,891
81,821 55,555
Creditors: Amounts Falling Due Within One Year 6 (126,118 ) (108,093 )
NET CURRENT ASSETS (LIABILITIES) (44,297 ) (52,538 )
TOTAL ASSETS LESS CURRENT LIABILITIES 170,543 165,426
NET ASSETS 170,543 165,426
CAPITAL AND RESERVES
Called up share capital 7 2 2
Fair value reserve 9 110,000 110,000
Profit and Loss Account 60,541 55,424
SHAREHOLDERS' FUNDS 170,543 165,426
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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
Mrs Helen Garrett
Director
10 July 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
Carland Parks Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02147824 . The registered office is The Coach House, 31 View Road, Rainhill, Merseyside, L35 0LF.
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 the total amount receivable by the company for rent, goods supplied and services
provided, excluding VAT.
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:
Leasehold Term of the lease
Plant & Machinery 25%
Computer Equipment 33%
2.4. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
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4. Tangible Assets
Land & Property
Leasehold Investment Properties Plant & Machinery Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 12,802 214,560 510 782 228,654
As at 31 March 2024 12,802 214,560 510 782 228,654
Depreciation
As at 1 April 2023 10,045 - 384 261 10,690
Provided during the period 2,736 - 128 260 3,124
As at 31 March 2024 12,781 - 512 521 13,814
Net Book Value
As at 31 March 2024 21 214,560 (2 ) 261 214,840
As at 1 April 2023 2,757 214,560 126 521 217,964
Cost or valuation as at 31 March 2024 represented by:
Land & Property
Freehold Leasehold Investment Properties Plant & Machinery
£ £ £ £
At cost - 12,802 104,560 510
At valuation - - 110,000 -
- 12,802 214,560 510
Computer Equipment Total
£ £
At cost 782 118,654
At valuation - 110,000
782 228,654
Investment property was valued on an open market basis on 31 March 2024 by the directors.
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,000 9,164
Prepayments and accrued income 17,500 17,500
21,500 26,664
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 1,933 832
VAT 2,795 3,410
Accruals and deferred income 24,996 24,648
Directors' loan accounts 96,394 79,203
126,118 108,093
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 70,000 70,000
Later than one year and not later than five years 99,167 169,167
169,167 239,167
9. Reserves
Fair Value Reserve
£
As at 1 April 2023 110,000
As at 31 March 2024 110,000
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