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Registration number: 03353858

CARROLL LIMITED

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

CARROLL LIMITED

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

CARROLL LIMITED

Company Information

Directors

J Carroll

Mrs S Jones

Company secretary

D I H Hunter

Registered office

Lon Parcwr Business Park
Ruthin
DENBIGHSHIRE
LL15 1NJ

 

Accountants

Pennington Williams Limited
Chartered Certified Accountants
Stanhope House
Mark Rake
Bromborough
Wirral
Merseyside
CH62 2DN

 

CARROLL LIMITED

(Registration number: 03353858)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

327,375

323,287

Current assets

 

Debtors

5

1,234,282

768,062

Cash at bank and in hand

 

46

147

 

1,234,328

768,209

Creditors: Amounts falling due within one year

6

(862,429)

(362,812)

Net current assets

 

371,899

405,397

Total assets less current liabilities

 

699,274

728,684

Creditors: Amounts falling due after more than one year

6

(83,999)

(108,066)

Provisions for liabilities

(3,217)

(3,218)

Net assets

 

612,058

617,400

Capital and reserves

 

Called up share capital

7

1,000

1,000

Revaluation reserve

75,205

75,205

Retained earnings

535,853

541,195

Shareholders' funds

 

612,058

617,400

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

CARROLL LIMITED

(Registration number: 03353858)
Balance Sheet as at 30 April 2024

Approved and authorised by the Board on 22 January 2025 and signed on its behalf by:
 

.........................................

J Carroll
Director

 

CARROLL LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Lon Parcwr Business Park
Ruthin
DENBIGHSHIRE
LL15 1NJ
Wales

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements if the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents the amount derived from the provision of goods and services falling within the company's activities after deduction of trade discounts and value added tax.

Included in turnover is accrued income which includes all production overheads and the attributable proportion of indirect overheads based on the normal level of activity.

Government grants

Government grants in relation to expenditure are credited to the profit and loss account when the expenditure is charged to the profit and loss.

 

CARROLL LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

2% on cost

Plant and machinery

25% on reducing balance

Office equipment

25% on reducing balance

Motor vehicles

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

CARROLL LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

CARROLL LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2023 - 16).

 

CARROLL LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

354,112

88,691

126,432

569,235

Additions

-

-

23,265

23,265

Disposals

-

-

(13,500)

(13,500)

At 30 April 2024

354,112

88,691

136,197

579,000

Depreciation

At 1 May 2023

65,563

84,526

95,859

245,948

Charge for the year

4,107

1,040

13,270

18,417

Eliminated on disposal

-

-

(12,740)

(12,740)

At 30 April 2024

69,670

85,566

96,389

251,625

Carrying amount

At 30 April 2024

284,442

3,125

39,808

327,375

At 30 April 2023

288,549

4,165

30,573

323,287

Included within the net book value of land and buildings above is £284,442 (2023 - £288,549) in respect of freehold land and buildings.
 

5

Debtors

2024
£

2023
£

Trade debtors

774,979

148,979

Prepayments

454,302

602,091

Other debtors

5,001

16,992

1,234,282

768,062

 

CARROLL LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

124,002

96,245

Trade creditors

 

83,895

61,309

Taxation and social security

 

85,972

7,905

Accruals and deferred income

 

18,292

13,781

Other creditors

 

550,268

183,572

 

862,429

362,812

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

59,349

82,566

Deferred income

 

24,650

25,500

 

83,999

108,066

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

         
 

CARROLL LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

33,571

62,793

Hire purchase contracts

25,778

19,773

59,349

82,566

2024
£

2023
£

Current loans and borrowings

Bank borrowings

36,443

35,574

Bank overdrafts

70,523

50,355

Hire purchase contracts

17,036

10,316

124,002

96,245