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Registered number: 08601611










CARABELLA PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

 
CARABELLA PROPERTIES LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 6


 
CARABELLA PROPERTIES LIMITED
REGISTERED NUMBER: 08601611

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,814
28,339

Current assets
  

Stocks
  
1,125,725
1,091,853

Debtors: amounts falling due within one year
 5 
-
1,075

Cash at bank and in hand
  
13,304
13,503

  
1,139,029
1,106,431

Creditors: amounts falling due within one year
 6 
(1,155,751)
(1,124,471)

Total assets less current liabilities
  
 
 
(10,908)
 
 
10,299

Provisions for liabilities
  

Other provisions
 7 
-
(35,000)

Net liabilities
  
(10,908)
(24,701)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(11,008)
(24,801)

  
(10,908)
(24,701)


Page 1

 
CARABELLA PROPERTIES LIMITED
REGISTERED NUMBER: 08601611
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 December 2024.

M.P. Farmiloe
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
CARABELLA PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Carabella Properties Limited (the Company) is a private company limited by shares, incorporated and domiciled in England. The address of its registered office is Rutland House, 148 Edmund Street, Birmingham, West Midlands, United Kingdom, B3 2FD. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Interest income

Interest income is recognised in profit or loss using the effective interest method.

  
2.3

Revenue

Turnover is comprised of rental income, which is recognised on a receivable basis.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Fixtures and fittings
-
15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
CARABELLA PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.8

Stocks

Work in progress, which represents properties held for development is valued at the lower of cost
and net realisable value.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.10

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
CARABELLA PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 August 2023
10,772
24,791
35,563


Additions
-
(24,791)
(24,791)



At 31 July 2024

10,772
-
10,772



Depreciation


At 1 August 2023
3,505
3,719
7,224


Charge for the year on owned assets
1,453
(3,719)
(2,266)



At 31 July 2024

4,958
-
4,958



Net book value



At 31 July 2024
5,814
-
5,814



At 31 July 2023
7,267
21,072
28,339


5.


Debtors

2024
2023
£
£


Other debtors
-
1,075



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
180
-

Other creditors
1,153,821
1,122,821

Accruals and deferred income
1,750
1,650

1,155,751
1,124,471


Page 5

 
CARABELLA PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

7.


Provisions





Provision for rectification costs

£





At 1 August 2023
35,000


Utilised in year
(35,000)



At 31 July 2024
-

 
Page 6