1 September 2023 v2025.5.2 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00falsetruexbrli:purexbrli:sharesiso4217:GBP145061642023-09-012024-08-31145061642024-08-31145061642023-08-3114506164core:WithinOneYear2024-08-3114506164core:AfterOneYear2024-08-3114506164core:AfterOneYear2023-08-3114506164core:ShareCapital2024-08-3114506164core:ShareCapital2023-08-3114506164core:RetainedEarningsAccumulatedLosses2024-08-3114506164core:RetainedEarningsAccumulatedLosses2023-08-3114506164bus:Director12023-09-012024-08-3114506164bus:RegisteredOffice2023-09-012024-08-3114506164core:LandBuildings2023-09-0114506164core:LandBuildings2023-09-012024-08-3114506164core:LandBuildings2024-08-3114506164core:LandBuildings2023-08-31145061642023-09-0114506164core:CostValuation2023-09-0114506164core:CostValuation2024-08-311450616412023-09-012024-08-31145061642022-11-252023-08-3114506164countries:EnglandWales2023-09-012024-08-3114506164bus:AuditExempt-NoAccountantsReport2023-09-012024-08-3114506164bus:PrivateLimitedCompanyLtd2023-09-012024-08-3114506164bus:SmallEntities2023-09-012024-08-3114506164bus:FullAccounts2023-09-012024-08-31
Company registration number:
14506164
Carmelcrest Holdings Ltd
Unaudited Filleted Financial Statements for the year ended
31 August 2024
Carmelcrest Holdings Ltd
Statement of Financial Position
31 August 2024
20242023
Note££
Fixed assets    
Tangible assets 5
1,649,434
 
600,300
 
Investments 6
1,756,000
 
1,756,000
 
3,405,434
 
2,356,300
 
Current assets    
Debtors 7
18,400
 
(15,305
)
Cash at bank and in hand
27,228
 
701
 
45,628
 
(14,604
)
Creditors: amounts falling due within one year 8
(8,178
) -  
Net current assets/(liabilities)
37,450
 
(14,604
)
Total assets less current liabilities 3,442,884   2,341,696  
Creditors: amounts falling due after more than one year 9
(432,780
)
(480,000
)
Net assets
3,010,104
 
1,861,696
 
Capital and reserves    
Called up share capital
5,000
 
5,000
 
Profit and loss account
3,005,104
 
1,856,696
 
Shareholders funds
3,010,104
 
1,861,696
 
For the 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.
Directors' responsibilities:
  • 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 Act 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.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
31 August 2024
, and are signed on behalf of the board by:
Mr Luke Spooner
Director
Company registration number:
14506164
Carmelcrest Holdings Ltd
Notes to the Financial Statements
Year ended
31 August 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Suite 20, Woodside
,
Dunmow Road
,
Bishops Stortford
,
Hertfordshire
,
CM23 5RG
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Consolidation

The entity has taken advantage of the option not to prepare consolidated
financial statements
contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Investment properties

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2023: Nil).

5 Tangible assets

Land and buildings
£
Cost  
At
1 September 2023
600,300
 
Additions
1,049,134
 
At
31 August 2024
1,649,434
 
Depreciation  
At
1 September 2023
and
31 August 2024
-  
Carrying amount  
At
31 August 2024
1,649,434
 
At 31 August 2023
600,300
 

Investment property

Included in land and buildings are the following amounts in relation to investment properties:
2024
£
Carrying amount at
1 September 2023
600,299.00
 
Additions
1,049,134
 
Carrying amount at
31 August 2024
1,649,433
 

6 Investments

Shares in group undertakings and participating interests
£
Cost  
At
1 September 2023
1,756,000
 
At
31 August 2024
1,756,000
 
Impairment  
At
1 September 2023
and
31 August 2024
-  
Carrying amount  
At
31 August 2024
1,756,000
 
At 31 August 2023
1,756,000
 

Investments held at valuation

In respect of fixed asset investments held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:
20242023
Shares in group undertakings and participating interestsShares in group undertakings and participating interests
££
Aggregate historical cost 1,756,000   1,756,000  
Carrying amount 1,756,000   1,756,000  

7 Debtors

20242023
££
Amounts owed by group undertakings and undertakings in which the company has a participating interest
18,400
 
(15,305
)

8 Creditors: amounts falling due within one year

20242023
££
Trade creditors
485
  -  
Taxation and social security
7,693
  -  
8,178
  -  

9 Creditors: amounts falling due after more than one year

20242023
££
Other creditors
432,780
 
480,000