Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Mr B G Carter 27/05/2010 Mrs B Carter 30/09/2010 Mrs C A Carter 27/05/2010 Mr I D Carter 27/05/2010 20 December 2024 The principal activity of the Company during the financial year is that of newsagents and convenience stores. 07267701 2024-04-30 07267701 bus:Director1 2024-04-30 07267701 bus:Director2 2024-04-30 07267701 bus:Director3 2024-04-30 07267701 bus:Director4 2024-04-30 07267701 2023-04-30 07267701 core:CurrentFinancialInstruments 2024-04-30 07267701 core:CurrentFinancialInstruments 2023-04-30 07267701 core:ShareCapital 2024-04-30 07267701 core:ShareCapital 2023-04-30 07267701 core:RetainedEarningsAccumulatedLosses 2024-04-30 07267701 core:RetainedEarningsAccumulatedLosses 2023-04-30 07267701 core:Goodwill 2023-04-30 07267701 core:Goodwill 2024-04-30 07267701 core:Vehicles 2023-04-30 07267701 core:FurnitureFittings 2023-04-30 07267701 core:Vehicles 2024-04-30 07267701 core:FurnitureFittings 2024-04-30 07267701 bus:OrdinaryShareClass1 2024-04-30 07267701 bus:OrdinaryShareClass2 2024-04-30 07267701 2023-05-01 2024-04-30 07267701 bus:FilletedAccounts 2023-05-01 2024-04-30 07267701 bus:SmallEntities 2023-05-01 2024-04-30 07267701 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 07267701 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07267701 bus:Director1 2023-05-01 2024-04-30 07267701 bus:Director2 2023-05-01 2024-04-30 07267701 bus:Director3 2023-05-01 2024-04-30 07267701 bus:Director4 2023-05-01 2024-04-30 07267701 core:Goodwill core:TopRangeValue 2023-05-01 2024-04-30 07267701 core:Vehicles 2023-05-01 2024-04-30 07267701 core:FurnitureFittings core:TopRangeValue 2023-05-01 2024-04-30 07267701 2022-05-01 2023-04-30 07267701 core:Goodwill 2023-05-01 2024-04-30 07267701 core:FurnitureFittings 2023-05-01 2024-04-30 07267701 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 07267701 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 07267701 bus:OrdinaryShareClass2 2023-05-01 2024-04-30 07267701 bus:OrdinaryShareClass2 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07267701 (England and Wales)

CARTERS CORNERS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

CARTERS CORNERS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

CARTERS CORNERS LIMITED

BALANCE SHEET

As at 30 April 2024
CARTERS CORNERS LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 310,528 354,578
Tangible assets 4 186,398 132,585
496,926 487,163
Current assets
Stocks 201,000 163,000
Debtors 5 45,229 72,153
Cash at bank and in hand 807,881 553,861
1,054,110 789,014
Creditors: amounts falling due within one year 6 ( 396,484) ( 371,205)
Net current assets 657,626 417,809
Total assets less current liabilities 1,154,552 904,972
Provision for liabilities ( 30,479) ( 33,103)
Net assets 1,124,073 871,869
Capital and reserves
Called-up share capital 7 2,000 2,000
Profit and loss account 1,122,073 869,869
Total shareholders' funds 1,124,073 871,869

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Carters Corners Limited (registered number: 07267701) were approved and authorised for issue by the Board of Directors on 20 December 2024. They were signed on its behalf by:

Mr B G Carter
Director
Mrs B Carter
Director
Mr I D Carter
Director
Mrs C A Carter
Director
CARTERS CORNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
CARTERS CORNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Carters Corners Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Francis Clark Sigma House, Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is show net of value added tax.

Employee benefits

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

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Amortisation is provided on intangible assets so as to write off the costs, less any estimated residual value, over their useful life as follows:

Goodwill 20 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Computer equipment 25% straight line

Vehicles 25 % reducing balance
Fixtures and fittings 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 54 53

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2023 881,000 881,000
At 30 April 2024 881,000 881,000
Accumulated amortisation
At 01 May 2023 526,422 526,422
Charge for the financial year 44,050 44,050
At 30 April 2024 570,472 570,472
Net book value
At 30 April 2024 310,528 310,528
At 30 April 2023 354,578 354,578

4. Tangible assets

Vehicles Fixtures and fittings Total
£ £ £
Cost
At 01 May 2023 58,521 332,343 390,864
Additions 68,410 22,362 90,772
At 30 April 2024 126,931 354,705 481,636
Accumulated depreciation
At 01 May 2023 21,785 236,494 258,279
Charge for the financial year 14,885 22,074 36,959
At 30 April 2024 36,670 258,568 295,238
Net book value
At 30 April 2024 90,261 96,137 186,398
At 30 April 2023 36,736 95,849 132,585

5. Debtors

2024 2023
£ £
Trade debtors 2,758 3,154
Other debtors 42,471 68,999
45,229 72,153

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 124,620 180,244
Corporation tax 140,070 47,946
Other taxation and social security 38,730 26,352
Other creditors 93,064 116,663
396,484 371,205

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,400 Ordinary B shares of £ 1.00 each 1,400 1,400
600 Ordinary A shares of £ 1.00 each 600 600
2,000 2,000

8. Financial commitments

Other financial commitments

2024 2023
£ £
Commitments in respect of property leases 194,000 244,500

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Directors' loan brought forward (3,790) (17,357)
Add: Advances made during the year 60,913 53,347
Less: Repayments made during the year (45,000) (40,000)
Directors' loan carried forward 12,123 (3,790)