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REGISTERED NUMBER: 06467343 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

CARTER & FARADAY ASSOCIATES LTD

CARTER & FARADAY ASSOCIATES LTD (REGISTERED NUMBER: 06467343)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CARTER & FARADAY ASSOCIATES LTD

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTOR: Mrs M Faraday





SECRETARY: Mrs M Faraday





REGISTERED OFFICE: 1 - 6 Pelham Farm
East Mascalls Lane
Walstead
Lindfield
West Sussex
RH16 2QJ





REGISTERED NUMBER: 06467343 (England and Wales)





ACCOUNTANTS: WBD Accountants Limited
Marlbridge House
Enterprise Way
Edenbridge
Kent
TN8 6HF

CARTER & FARADAY ASSOCIATES LTD (REGISTERED NUMBER: 06467343)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 186,637 137,045
186,637 137,045

CURRENT ASSETS
Stocks 10,000 10,000
Debtors 6 2,652 37,410
Cash at bank 64,402 133,155
77,054 180,565
CREDITORS
Amounts falling due within one year 7 230,220 243,665
NET CURRENT LIABILITIES (153,166 ) (63,100 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,471

73,945

CREDITORS
Amounts falling due after more than one year 8 (146,101 ) (98,975 )

PROVISIONS FOR LIABILITIES (1,138 ) (3,070 )
NET LIABILITIES (113,768 ) (28,100 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (113,868 ) (28,200 )
SHAREHOLDERS' FUNDS (113,768 ) (28,100 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CARTER & FARADAY ASSOCIATES LTD (REGISTERED NUMBER: 06467343)

BALANCE SHEET - continued
30 April 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 January 2025 and were signed by:





Mrs M Faraday - Director


CARTER & FARADAY ASSOCIATES LTD (REGISTERED NUMBER: 06467343)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Carter & Faraday Associates Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of services and goods, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the trade in 2012, is being amortised evenly over its estimated remaining useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

CARTER & FARADAY ASSOCIATES LTD (REGISTERED NUMBER: 06467343)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 61 (2023 - 71 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 140,750
AMORTISATION
At 1 May 2023
and 30 April 2024 140,750
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 224,081
Additions 100,806
At 30 April 2024 324,887
DEPRECIATION
At 1 May 2023 87,036
Charge for year 51,214
At 30 April 2024 138,250
NET BOOK VALUE
At 30 April 2024 186,637
At 30 April 2023 137,045

CARTER & FARADAY ASSOCIATES LTD (REGISTERED NUMBER: 06467343)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS - continued

The net book value of assets held under finance leases in respect of vehicles at the year end was £177,110 (2023: £125,067).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,652 13,454
Other debtors - 23,956
2,652 37,410

The amount in trade debtors represents factored debts.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 34,136 18,042
Trade creditors 16,140 32,505
Taxation and social security 91,238 124,744
Other creditors 88,706 68,374
230,220 243,665

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 146,101 98,975

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 34,136 18,042
Between one and five years 146,101 98,975
180,237 117,017

CARTER & FARADAY ASSOCIATES LTD (REGISTERED NUMBER: 06467343)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 18,134 23,344
Between one and five years 3,812 5,249
21,946 28,593

10. DIVIDENDS

Dividends of £103,848 were paid in the year (2023: £103,848).

11. GOING CONCERN

The company is reliant upon the continued support of the directors, other creditors and bank to remain as a going concern. The accounts have been prepared on the basis that this support will continue.