Registered number
10079676
Carrock Homes Limited
Filleted Accounts
31 March 2024
Carrock Homes Limited
Registered number: 10079676
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 191,569 222,592
Current assets
Stocks 215,428 180,000
Debtors 4 82,942 47,214
Cash at bank and in hand 23 17,003
298,393 244,217
Creditors: amounts falling due within one year 5 (433,849) (345,925)
Net current liabilities (135,456) (101,708)
Total assets less current liabilities 56,113 120,884
Creditors: amounts falling due after more than one year 6 (43,668) (80,960)
Net assets 12,445 39,924
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 11,445 38,924
Shareholders' funds 12,445 39,924
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Iredale
Director
Approved by the board on 10 January 2025
Carrock Homes Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 311,419 50,670 362,089
Additions 9,604 - 9,604
Disposals (1,875) - (1,875)
At 31 March 2024 319,148 50,670 369,818
Depreciation
At 1 April 2023 109,879 29,618 139,497
Charge for the year 33,001 2,632 35,633
On disposals 3,119 - 3,119
At 31 March 2024 145,999 32,250 178,249
Net book value
At 31 March 2024 173,149 18,420 191,569
At 31 March 2023 201,540 21,052 222,592
4 Debtors 2024 2023
£ £
Trade debtors 62,723 37,708
Other debtors 20,219 9,506
82,942 47,214
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 93,753 45,736
Obligations under finance lease and hire purchase contracts 28,479 28,479
Trade creditors 79,375 37,846
Taxation and social security costs 66,843 74,003
Other creditors 165,399 159,861
433,849 345,925
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 23,307 32,371
Obligations under finance lease and hire purchase contracts 20,361 48,589
43,668 80,960
7 Other information
Carrock Homes Limited is a private company limited by shares and incorporated in England. Its registered office is:
How Hill
Hutton Roof
Penrith
CA11 0XY
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