Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30true38The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-05-01No description of principal activity45falsefalse 07202851 2023-05-01 2024-04-30 07202851 2022-05-01 2023-04-30 07202851 2024-04-30 07202851 2023-04-30 07202851 2022-05-01 07202851 c:Director1 2023-05-01 2024-04-30 07202851 c:Director2 2023-05-01 2024-04-30 07202851 d:Buildings 2023-05-01 2024-04-30 07202851 d:Buildings 2024-04-30 07202851 d:Buildings 2023-04-30 07202851 d:Buildings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07202851 d:Buildings d:LongLeaseholdAssets 2023-05-01 2024-04-30 07202851 d:Buildings d:LongLeaseholdAssets 2024-04-30 07202851 d:Buildings d:LongLeaseholdAssets 2023-04-30 07202851 d:Buildings d:ShortLeaseholdAssets 2023-05-01 2024-04-30 07202851 d:LandBuildings 2024-04-30 07202851 d:LandBuildings 2023-04-30 07202851 d:PlantMachinery 2023-05-01 2024-04-30 07202851 d:PlantMachinery 2024-04-30 07202851 d:PlantMachinery 2023-04-30 07202851 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07202851 d:FurnitureFittings 2023-05-01 2024-04-30 07202851 d:FurnitureFittings 2024-04-30 07202851 d:FurnitureFittings 2023-04-30 07202851 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07202851 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07202851 d:Goodwill 2024-04-30 07202851 d:Goodwill 2023-04-30 07202851 d:CurrentFinancialInstruments 2024-04-30 07202851 d:CurrentFinancialInstruments 2023-04-30 07202851 d:Non-currentFinancialInstruments 2024-04-30 07202851 d:Non-currentFinancialInstruments 2023-04-30 07202851 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 07202851 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 07202851 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 07202851 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 07202851 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 07202851 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 07202851 d:ShareCapital 2024-04-30 07202851 d:ShareCapital 2023-04-30 07202851 d:RetainedEarningsAccumulatedLosses 2024-04-30 07202851 d:RetainedEarningsAccumulatedLosses 2023-04-30 07202851 c:OrdinaryShareClass1 2023-05-01 2024-04-30 07202851 c:OrdinaryShareClass1 2024-04-30 07202851 c:OrdinaryShareClass1 2023-04-30 07202851 c:OrdinaryShareClass2 2023-05-01 2024-04-30 07202851 c:OrdinaryShareClass2 2024-04-30 07202851 c:OrdinaryShareClass2 2023-04-30 07202851 c:FRS102 2023-05-01 2024-04-30 07202851 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 07202851 c:FullAccounts 2023-05-01 2024-04-30 07202851 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07202851 d:WithinOneYear 2024-04-30 07202851 d:WithinOneYear 2023-04-30 07202851 d:BetweenOneFiveYears 2024-04-30 07202851 d:BetweenOneFiveYears 2023-04-30 07202851 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 07202851 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 07202851 2 2023-05-01 2024-04-30 07202851 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 07202851














CARNALEA LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 APRIL 2024

 
CARNALEA LIMITED
REGISTERED NUMBER: 07202851

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
                                                                   Note

Fixed assets
  

Tangible assets
 5 
2,087,693
2,096,411

Current assets
  

Stocks
 6 
4,055
3,620

Debtors: amounts falling due within one year
 7 
106,766
98,242

Cash at bank and in hand
 8 
311,460
498,357

  
422,281
600,219

Creditors: amounts falling due within one year
 9 
(1,105,003)
(721,388)

Net current liabilities
  
 
 
(682,722)
 
 
(121,169)

Total assets less current liabilities
  
1,404,971
1,975,242

Creditors: amounts falling due after more than one year
 10 
-
(644,203)

Provisions for liabilities
  

Deferred tax
 12 
(50,344)
(46,906)

Net assets
  
£1,354,627
£1,284,133


Capital and reserves
  

Called up share capital 
 13 
100
100

Profit and loss account
  
1,354,527
1,284,033

  
£1,354,627
£1,284,133


Page 1

 
CARNALEA LIMITED
REGISTERED NUMBER: 07202851

BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider 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 directors acknowledge their 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 23 January 2025.




___________________________
B F Wake
___________________________
J Martin
Director
Director

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
CARNALEA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Carnalea Limited is a private company limited by shares. The company registration is 07202851 and is incorporated in England and Wales. The registered office of the company is Henwood House, Henwood, Ashford, Kent, TN24 8DH. The principal place of business is 5-9 London Road, Faversham, Kent ME13 8TA. 

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

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

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
CARNALEA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

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.

Page 4

 
CARNALEA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

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

Depreciation is provided on the following basis:

Freehold property
-
2%
Straight line
Improvements to property
-
10%
Straight line
Plant and machinery
-
25%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance

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.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
CARNALEA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 45 (2023 - 38).


4.


Intangible assets




Goodwill



Cost


At 1 May 2023
650,000



At 30 April 2024

650,000



Amortisation


At 1 May 2023
650,000



At 30 April 2024

650,000



Net book value



At 30 April 2024
£-



At 30 April 2023
£-



Page 6

 
CARNALEA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





Freehold property
Property Improvements
Plant and machinery
Fixtures and fittings
Total



Cost or valuation


At 1 May 2023
2,000,000
214,966
98,952
209,170
2,523,088


Additions
-
50,700
1,380
11,425
63,505


Disposals
-
-
-
(1,777)
(1,777)



At 30 April 2024

2,000,000
265,666
100,332
218,818
2,584,816



Depreciation


At 1 May 2023
96,667
118,357
64,233
147,420
426,677


Charge for the year on owned assets
26,667
18,465
8,840
16,654
70,626


Disposals
-
-
-
(180)
(180)



At 30 April 2024

123,334
136,822
73,073
163,894
497,123



Net book value



At 30 April 2024
£1,876,666
£128,844
£27,259
£54,924
£2,087,693



At 30 April 2023
£1,903,333
£96,609
£34,719
£61,750
£2,096,411




The net book value of land and buildings may be further analysed as follows:


2024
2023

Freehold
1,876,666
1,903,333

Long leasehold
128,844
96,609

£2,005,510
£1,999,942



6.


Stocks

2024
2023

Raw materials and consumables
4,055
3,620

£4,055
£3,620


Page 7

 
CARNALEA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Debtors

2024
2023


Trade debtors
81,990
76,455

Other debtors
1,894
-

Prepayments and accrued income
22,882
21,787

£106,766
£98,242



8.


Cash and cash equivalents

2024
2023

Cash at bank and in hand
£311,460
£498,357



9.


Creditors: amounts falling due within one year

2024
2023

Bank loans
442,740
44,696

Trade creditors
21,450
45,649

Corporation tax
54,547
20,959

Other taxation and social security
8,688
6,642

Other creditors
479,724
511,604

Accruals and deferred income
97,854
91,838

£1,105,003
£721,388


The following liabilities were secured:




Details of security provided:

Handelsbanken PLC from 3rd April 2020 have a charge at HM Land Registry over 5-9 London Road, Faversham under the title numbers K549986, K401557 and K137316. 

Page 8

 
CARNALEA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023

Bank loans
£-
£644,203


The following liabilities were secured:




Details of security provided:

Handelsbanken PLC from 3rd April 2020 have a charge at HM Land Registry over 5-9 London Road, Faversham under the title numbers K549986, K401557 and K137316. 


11.


Loans


Analysis of the maturity of loans is given below:


2024
2023

Amounts falling due within one year

Bank loans
442,740
44,696


442,740
44,696

Amounts falling due 1-2 years

Bank loans
-
644,203


-
644,203



£442,740
£688,899



12.


Deferred taxation




2024
2023





At beginning of year
(46,906)
(46,137)


Charged to profit or loss
(3,438)
(769)



At end of year
£(50,344)
£(46,906)

Page 9

 
CARNALEA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
 
12.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023


Accelerated capital allowances
50,344
46,906

£50,344
£46,906


13.


Share capital

2024
2023
Allotted, called up and fully paid



90 (2023 - 95) Ordinary shares of £1.00 each
90
95
10 (2023 - 5) B Ordinary shares of £1.00 each
10
5

£100

£100



14.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £14,844 (2023 - £12,973). Contributions totalling £3,757 (2023 - £5,914) were payable to the fund at the balance sheet date and are included in creditors


15.


Commitments under operating leases

At 30 April 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023


Not later than 1 year
22,633
24,979

Later than 1 year and not later than 5 years
43,680
66,115

£66,313
£91,094

Page 10