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REGISTERED NUMBER: 09981900 (England and Wales)










Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Karter Investments Ltd

Karter Investments Ltd (Registered number: 09981900)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Karter Investments Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: M Purewal
P K Purewal





REGISTERED OFFICE: 4 Station Parade
Ruislip
England
HA4 7DL





REGISTERED NUMBER: 09981900 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Wynyard Business Park
Wynyard Avenue
Billingham
Cleveland
TS22 5TB

Karter Investments Ltd (Registered number: 09981900)

Balance Sheet
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 3 937 1,499
Investment property 4 1,000,000 986,000
1,000,937 987,499

CURRENT ASSETS
Debtors 5 421 371
Cash at bank 8,137 6,734
8,558 7,105
CREDITORS
Amounts falling due within one year 6 (102,936 ) (104,074 )
NET CURRENT LIABILITIES (94,378 ) (96,969 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

906,559

890,530

CREDITORS
Amounts falling due after more than one year 7 (250,307 ) (250,299 )

PROVISIONS FOR LIABILITIES (115,521 ) (112,861 )
NET ASSETS 540,731 527,370

CAPITAL AND RESERVES
Called up share capital 1 1
Non distributable reserves 9 542,061 481,142
Retained earnings 9 (1,331 ) 46,227
540,731 527,370

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Karter Investments Ltd (Registered number: 09981900)

Balance Sheet - continued
29 February 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 Board of Directors and authorised for issue on 12 February 2025 and were signed on its behalf by:





M Purewal - Director


Karter Investments Ltd (Registered number: 09981900)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. 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 as modified by the revaluation of certain assets.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

GOING CONCERN
The financial statements have been prepared on a going concern basis, the directors believes this assumption to be appropriate based on the continuing financial support of the company directors and loan provider.

If the going concern basis was not appropriate, adjustments would have to be made to restate the value of the assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

Karter Investments Ltd (Registered number: 09981900)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

3. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 2,823 2,478 5,301
DEPRECIATION
At 1 March 2023 2,061 1,741 3,802
Charge for year 192 370 562
At 29 February 2024 2,253 2,111 4,364
NET BOOK VALUE
At 29 February 2024 570 367 937
At 28 February 2023 762 737 1,499

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 986,000
Revaluations 14,000
At 29 February 2024 1,000,000
NET BOOK VALUE
At 29 February 2024 1,000,000
At 28 February 2023 986,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2017 350,000
Valuation in 2018 (50,000 )
Valuation in 2019 (89,233 )
Valuation in 2020 215,736
Valuation in 2021 71,500
Valuation in 2022 39,000
Valuation in 2023 57,000
Valuation in 2024 14,000
Cost 391,997
1,000,000

Karter Investments Ltd (Registered number: 09981900)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. INVESTMENT PROPERTY - continued

Properties are required to be disclosed within the financial statements at fair value.

The valuation was made by directors on an open market value basis by reference to market evidence of transaction prices for similar properties. Deferred tax has been calculated on the revalued amounts and provided for within the financial statements.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments 421 371

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,844 9,753
Other loans 11,382 12,796
Corporation tax 606 1,436
Directors' current accounts 84,810 78,888
Accrued expenses 1,294 1,201
102,936 104,074

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,058 10,000
BBL loan more than 1 year 19,816 20,519
Other loans - 2-5 years 70,569 51,183
Other loans more 5yrs instal 149,864 168,597
250,307 250,299

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 149,864 168,597

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 231,815 232,576

Karter Investments Ltd (Registered number: 09981900)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

9. RESERVES
Non
Retained distributable
earnings reserves Totals
£    £    £   

At 1 March 2023 46,227 481,142 527,369
Profit for the year 13,361 13,361
Revaluation reserves (60,919 ) 60,919 -
At 29 February 2024 (1,331 ) 542,061 540,730

PROFIT AND LOSS RESERVES
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

FAIR VALUE RESERVES
The Company uses the revaluation model for the measurement of its investment properties. The reserve records the revaluation surplus recognised less the related provision for deferred tax. This is a non distributable reserve.