Carats (Burton) Limited 07346359 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is money shop activities. Digita Accounts Production Advanced 6.30.9574.0 true true 07346359 2023-09-01 2024-08-31 07346359 2024-08-31 07346359 core:CurrentFinancialInstruments 2024-08-31 07346359 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 07346359 core:FurnitureFittingsToolsEquipment 2024-08-31 07346359 core:MotorVehicles 2024-08-31 07346359 bus:SmallEntities 2023-09-01 2024-08-31 07346359 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 07346359 bus:FilletedAccounts 2023-09-01 2024-08-31 07346359 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 07346359 bus:RegisteredOffice 2023-09-01 2024-08-31 07346359 bus:Director1 2023-09-01 2024-08-31 07346359 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 07346359 core:FurnitureFittings 2023-09-01 2024-08-31 07346359 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 07346359 core:MotorCars 2023-09-01 2024-08-31 07346359 core:MotorVehicles 2023-09-01 2024-08-31 07346359 countries:England 2023-09-01 2024-08-31 07346359 2023-08-31 07346359 core:FurnitureFittingsToolsEquipment 2023-08-31 07346359 core:MotorVehicles 2023-08-31 07346359 2022-09-01 2023-08-31 07346359 2023-08-31 07346359 core:CurrentFinancialInstruments 2023-08-31 07346359 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 07346359 core:FurnitureFittingsToolsEquipment 2023-08-31 07346359 core:MotorVehicles 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 07346359

Carats (Burton) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Carats (Burton) Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Carats (Burton) Limited

Company Information

Director

D Bellamy

Registered office

2 Station Street
Burton on Trent
Staffordshire
DE14 1AN

Accountants

Munslows Accountants Ltd
Chartered Certified Accountants
32 High Street
Wall Heath
Kingswinford
West Midlands
DY6 0HB

 

Carats (Burton) Limited

(Registration number: 07346359)
Statement of Financial Position as at 31 August 2024

Note

2024
£

2023
£

Non current assets

 

Tangible assets

4

520

2,058

Current assets

 

Inventories

223,093

230,548

Debtors

28,445

52,503

Cash at bank and in hand

 

169,232

100,641

 

420,770

383,692

Creditors: Amounts falling due within one year

(63,614)

(76,953)

Net current assets

 

357,156

306,739

Net assets

 

357,676

308,797

Equity

 

Called up share capital

104

103

Retained earnings

357,572

308,694

Shareholders' funds

 

357,676

308,797

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

Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Director's 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 director acknowledges her 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 director has not delivered to the registrar a copy of the Income Statement.

 

Carats (Burton) Limited

(Registration number: 07346359)
Statement of Financial Position as at 31 August 2024

Approved and authorised by the director on 12 February 2025
 

.........................................
D Bellamy
Director

 

Carats (Burton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

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

The address of its registered office is:
2 Station Street
Burton on Trent
Staffordshire
DE14 1AN

These financial statements were authorised for issue by the director on 12 February 2025.

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.

Going concern

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

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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.

 

Carats (Burton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tangible assets

Tangible assets are stated in the statement of financial position 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

Fixtures and fittings

reducing balance at 20% per annum

Motor vehicles

straight line at 25% per annum

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.

Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, inventories are assessed for impairment. If inventories are 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.

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 income statement 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Carats (Burton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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 the director) during the year, was 6 (2023 - 6).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

10,001

11,274

21,275

At 31 August 2024

10,001

11,274

21,275

Depreciation

At 1 September 2023

9,351

9,866

19,217

Charge for the year

130

1,408

1,538

At 31 August 2024

9,481

11,274

20,755

Carrying amount

At 31 August 2024

520

-

520

At 31 August 2023

650

1,408

2,058

 

Carats (Burton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

-

13,748