Company registration number 11338339 (England and Wales)
CARLATTON PROPERTY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
CARLATTON PROPERTY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
CARLATTON PROPERTY LIMITED
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
4
133,000
133,000
Current assets
Debtors
5
-
0
313
Cash at bank and in hand
9,808
16,048
9,808
16,361
Creditors: amounts falling due within one year
6
(54,836)
(54,776)
Net current liabilities
(45,028)
(38,415)
Total assets less current liabilities
87,972
94,585
Creditors: amounts falling due after more than one year
7
(79,738)
(79,698)
Provisions for liabilities
(2,600)
(3,864)
Net assets
5,634
11,023
Capital and reserves
Called up share capital
100
100
Fair value reserve
20,833
20,833
Profit and loss reserves
(15,299)
(9,910)
Total equity
5,634
11,023

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

CARLATTON PROPERTY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2024
31 May 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 6 February 2025
Mr Michael Roberts
Director
Company Registration No. 11338339
CARLATTON PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information

Carlatton Property Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Bridge Street, Barford, Warwick, Warwickshire, CV35 8EH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The accounts are prepared on a going concern basis as the director will continue to make funds available to the company.

1.3
Turnover

Turnover is recognised at the fair value of the rental income receivable in the period.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

CARLATTON PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was 0 (2023 - 0).

2024
2023
Number
Number
Total
-
0
-
0
4
Investment property
2024
£
Fair value
At 1 June 2023 and 31 May 2024
133,000

Investment property is included at fair value of £133,000. The valuation was made on an open market value basis, by the director, by reference to market evidence of transaction prices for similar properties at 31 May 2024.

CARLATTON PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
-
0
313
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
54,836
54,776
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
79,738
79,698

Included in creditors falling due after more than one year is an amount of £79,738 (2023 - £79,698) secured by the company.

Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable other than by instalments
79,738
79,698
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