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REGISTERED NUMBER: 04522590 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

CAREFREE TRADING LIMITED

CAREFREE TRADING LIMITED (REGISTERED NUMBER: 04522590)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CAREFREE TRADING LIMITED

Company Information
for the Year Ended 31 August 2024







DIRECTORS: N Pannaman
S P Kay
B A Mistlin





SECRETARY: N Pannaman





REGISTERED OFFICE: 159 High Street
Barnet
Hertfordshire
EN5 5SU





REGISTERED NUMBER: 04522590 (England and Wales)





ACCOUNTANTS: Joshua Leigh & Co Ltd
159 High Street
Barnet
Hertfordshire
EN5 5SU

CAREFREE TRADING LIMITED (REGISTERED NUMBER: 04522590)

Balance Sheet
31 August 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 245,000 245,000

CURRENT ASSETS
Debtors 5 5,902 2,624
Cash at bank 4,183 11,884
10,085 14,508
CREDITORS
Amounts falling due within one year 6 (8,635 ) (9,828 )
NET CURRENT ASSETS 1,450 4,680
TOTAL ASSETS LESS CURRENT
LIABILITIES

246,450

249,680

CREDITORS
Amounts falling due after more than one
year

7

(60,000

)

(60,000

)
NET ASSETS 186,450 189,680

CAPITAL AND RESERVES
Called up share capital 8 600 600
Non-distributable reserves 9 40,848 40,848
Retained earnings 9 145,002 148,232
SHAREHOLDERS' FUNDS 186,450 189,680

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 February 2025 and were signed on its behalf by:





B A Mistlin - Director


CAREFREE TRADING LIMITED (REGISTERED NUMBER: 04522590)

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

1. STATUTORY INFORMATION

Carefree Trading Limited 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable in the year.

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 Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 245,000
NET BOOK VALUE
At 31 August 2024 245,000
At 31 August 2023 245,000

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2004 15,848
Valuation in 2005 15,000
Valuation in 2006 10,000
Valuation in 2011 (40,848 )
Valuation in 2015 5,848
Valuation in 2020 15,000
Valuation in 2021 20,000
Cost 204,152
245,000

CAREFREE TRADING LIMITED (REGISTERED NUMBER: 04522590)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. INVESTMENT PROPERTY - continued

If the Investment Property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 204,152 204,152
Aggregate depreciation (132,699 ) (132,699 )

The Directors are of the opinion that the value of these properties, at the balance sheet date, were not materially different to the August 2021 valuations.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,242 -
Other debtors 2,660 2,624
5,902 2,624

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,176 1,672
Taxation and social security - 684
Other creditors 7,459 7,472
8,635 9,828

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 60,000 60,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
600 Ordinary £1 600 600

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

At 1 September 2023 148,232 40,848 189,080
Deficit for the year (3,230 ) - (3,230 )
At 31 August 2024 145,002 40,848 185,850

CAREFREE TRADING LIMITED (REGISTERED NUMBER: 04522590)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

10. RELATED PARTY DISCLOSURES

At the year end, the company owed the directors, N Pannaman, S Kay and B Mistlin, the amounts of £21,676 (2023: £21,676), £21,676 (2023: £21,676) and £21,676 (2023: £21,676) respectively in relation to interest free loans with no fixed repayments.

Of the above detailed loans, the amounts due for repayment in more than one year totalled £60,000 (2023:
£60,000), with the balance due within one year.