Company registration number 00529464 (England and Wales)
CARLTON VALE INVESTMENT COMPANY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
One Bell Lane
Lewes
East Sussex
BN7 1JU
CARLTON VALE INVESTMENT COMPANY LTD
CONTENTS
Page
Company information
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 10
CARLTON VALE INVESTMENT COMPANY LTD
COMPANY INFORMATION
- 1 -
Directors
Mrs G L Morris
Miss K L Proctor
Mr E Lavelle
(Appointed 18 June 2024)
Secretary
Mrs A L Proctor
Company number
00529464
Registered office
32 Frederick Sanger Road
Surrey Research Park
Guildford
Surrey
GU2 7YD
Accountants
TC Knill James Limited
One Bell Lane
Lewes
East Sussex
BN7 1JU
CARLTON VALE INVESTMENT COMPANY LTD
STATEMENT OF FINANCIAL POSITION
AS AT
30 JUNE 2024
30 June 2024
- 2 -
2024
2023
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
4
37,656
22,297
Investment property
5
10,275,000
11,625,000
Investments
6
4,553,492
1,503,797
14,866,148
13,151,094
Current assets
Trade and other receivables falling due after more than one year
7
323,095
214,806
Trade and other receivables falling due within one year
7
165,622
587,712
Cash and cash equivalents
930,514
2,629,226
1,419,231
3,431,744
Current liabilities
8
(839,797)
(820,178)
Net current assets
579,434
2,611,566
Total assets less current liabilities
15,445,582
15,762,660
Provisions for liabilities
(117,320)
(5,108)
Net assets
15,328,262
15,757,552
Equity
Called up share capital
9
238
238
Share premium account
18,981
18,981
Capital redemption reserve
16,383
16,383
Retained earnings
15,292,660
15,721,950
Total equity
15,328,262
15,757,552
CARLTON VALE INVESTMENT COMPANY LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 3 -

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 28 January 2025 and are signed on its behalf by:
Mrs G L Morris
Director
Company registration number 00529464 (England and Wales)
CARLTON VALE INVESTMENT COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information

Carlton Vale Investment Company Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 32 Frederick Sanger Road, Surrey Research Park, Guildford, Surrey, GU2 7YD.

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 revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for rents and service charges in the normal course of business.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

App development
Fully depreciated
1.4
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

CARLTON VALE INVESTMENT COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% and 6.67% straight line basis
Computers
20% straight line basis
Motor vehicles
25% reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

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.

1.6
Non-current investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Impairment of non-current assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.8
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.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

CARLTON VALE INVESTMENT COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 6 -
Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
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 income statement 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.

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.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.

CARLTON VALE INVESTMENT COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 7 -
1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
3
Intangible fixed assets
Other
£
Cost
At 1 July 2023 and 30 June 2024
30,504
Amortisation and impairment
At 1 July 2023 and 30 June 2024
30,504
Carrying amount
At 30 June 2024
-
0
At 30 June 2023
-
0
CARLTON VALE INVESTMENT COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 8 -
4
Property, plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2023
6,896
6,767
45,700
59,363
Additions
21,205
-
0
-
0
21,205
At 30 June 2024
28,101
6,767
45,700
80,568
Depreciation and impairment
At 1 July 2023
-
0
5,825
31,241
37,066
Depreciation charged in the year
1,873
358
3,615
5,846
At 30 June 2024
1,873
6,183
34,856
42,912
Carrying amount
At 30 June 2024
26,228
584
10,844
37,656
At 30 June 2023
6,896
942
14,459
22,297
5
Investment property
2024
£
Fair value
At 1 July 2023
11,625,000
Revaluations
(1,350,000)
At 30 June 2024
10,275,000

Investment property comprises three freehold and one leasehold property let by the company. The fair value of the investment properties has been arrived at by the directors at the balance sheet date on an open market value basis, by reference to market evidence of transaction prices for similar properties. The historical cost of the investment properties is £10,691,431.

6
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100
100
Other investments other than loans
4,553,392
1,503,697
4,553,492
1,503,797
CARLTON VALE INVESTMENT COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
6
Fixed asset investments
(Continued)
- 9 -
Fixed asset investments revalued
Movements in non-current investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 July 2023
100
1,503,697
1,503,797
Additions
-
3,496,943
3,496,943
Valuation changes
-
324,286
324,286
Gain/(loss) on share sales
-
82,630
82,630
Cost adjustment
-
(819)
(819)
Disposals
-
(853,345)
(853,345)
At 30 June 2024
100
4,553,392
4,553,492
Carrying amount
At 30 June 2024
100
4,553,392
4,553,492
At 30 June 2023
100
1,503,697
1,503,797
7
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Other receivables
165,622
587,712
2024
2023
Amounts falling due after more than one year:
£
£
Other receivables
214,806
214,806
Deferred tax asset
108,289
-
0
323,095
214,806
Total debtors
488,717
802,518
CARLTON VALE INVESTMENT COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 10 -
8
Current liabilities
2024
2023
£
£
Amounts owed to group undertakings
367,821
367,821
Corporation tax
137,137
116,169
Other taxation and social security
40,677
36,051
Other payables
294,162
300,137
839,797
820,178
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
238
238
238
238
10
Events after the reporting date

On 12th July 2024 one of the investment properties of the company was sold for £1,900,000 (historical cost £1,809,352).

11
Related party transactions

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Key management personnel
3,320
243,600
Other related parties
5,010
272,025

The £3,320 included within other debtors wholly relates to a loan to Ms L A Proctor, shareholder.

 

The £5,010 included within other debtors relates to a loan of £2,505 to Mr J Morris, husband to shareholder Mrs G Morris and £2,505 to Mr R J Sidders, husband to shareholder Mrs D A Sidders.

 

 

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