BrightAccountsProduction v1.0.0 v1.0.0 2023-08-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The Principal Activity of the Company is the sale of Hot Beverages through owned vending units. 12 March 2025 NI671407 2024-07-31 NI671407 2023-07-31 NI671407 2022-07-31 NI671407 2023-08-01 2024-07-31 NI671407 2022-08-01 2023-07-31 NI671407 uk-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 NI671407 uk-curr:PoundSterling 2023-08-01 2024-07-31 NI671407 uk-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 NI671407 uk-bus:FullAccounts 2023-08-01 2024-07-31 NI671407 uk-bus:Director1 2023-08-01 2024-07-31 NI671407 uk-bus:Director2 2023-08-01 2024-07-31 NI671407 uk-bus:Director3 2023-08-01 2024-07-31 NI671407 uk-bus:Director4 2023-08-01 2024-07-31 NI671407 uk-bus:Director5 2023-08-01 2024-07-31 NI671407 uk-bus:RegisteredOffice 2023-08-01 2024-07-31 NI671407 uk-bus:Agent1 2023-08-01 2024-07-31 NI671407 uk-core:ShareCapital 2024-07-31 NI671407 uk-core:ShareCapital 2023-07-31 NI671407 uk-core:RetainedEarningsAccumulatedLosses 2024-07-31 NI671407 uk-core:RetainedEarningsAccumulatedLosses 2023-07-31 NI671407 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-07-31 NI671407 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-07-31 NI671407 uk-bus:FRS102 2023-08-01 2024-07-31 NI671407 uk-core:PlantMachinery 2023-08-01 2024-07-31 NI671407 uk-core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 NI671407 uk-core:MotorVehicles 2023-08-01 2024-07-31 NI671407 uk-core:CurrentFinancialInstruments 2024-07-31 NI671407 uk-core:CurrentFinancialInstruments 2023-07-31 NI671407 uk-core:CurrentFinancialInstruments 2024-07-31 NI671407 uk-core:CurrentFinancialInstruments 2023-07-31 NI671407 uk-core:WithinOneYear 2024-07-31 NI671407 uk-core:WithinOneYear 2023-07-31 NI671407 uk-core:BetweenOneTwoYears 2024-07-31 NI671407 uk-core:BetweenOneTwoYears 2023-07-31 NI671407 uk-core:BetweenTwoFiveYears 2024-07-31 NI671407 uk-core:BetweenTwoFiveYears 2023-07-31 NI671407 2023-08-01 2024-07-31 NI671407 uk-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI671407
 
 
Carma Retail Ltd
 
Directors' Report and Unaudited Financial Statements
 
for the financial year ended 31 July 2024
Carma Retail Ltd
DIRECTORS AND OTHER INFORMATION

 
Directors Mr. Michael Colton
Mr. Aaron McGilligan
Mr. Paul Tocher
Russell Stinson
Mr. Thomas De Garnham
 
 
Company Registration Number NI671407
 
 
Registered Office 16 Mount Charles
Belfast
BT7 1NZ
Northern Ireland
 
 
Business Address 65a Tattysallagh Road
Omagh
BT78 5BR
 
 
Accountants Muldoon & Co
16 Mount Charles
Belfast
BT7 1NZ
Northern Ireland



Carma Retail Ltd
DIRECTORS' REPORT
for the financial year ended 31 July 2024

 
The directors present their report and the unaudited financial statements for the financial year ended 31 July 2024.
     
Directors
The directors who served during the financial year are as follows:
     
Mr. Michael Colton
Mr. Aaron McGilligan
Mr. Paul Tocher
Russell Stinson
Mr. Thomas De Garnham
   
     
Statement of Directors' Responsibilities
     
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
     
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period.

In preparing these financial statements, the directors are required to:
- select suitable accounting policies and apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
     
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
___________________________
Mr. Michael Colton
Director
     
12 March 2025



Carma Retail Ltd
Company Registration Number: NI671407
STATEMENT OF FINANCIAL POSITION
as at 31 July 2024

2024 2023
Notes £ £
 
Non-Current Assets
Property, plant and equipment 5 200,099 194,260
───────── ─────────
 
Current Assets
Stocks 6 24,186 18,494
Debtors 7 3,123 53,148
Cash and cash equivalents 13,439 1,837
───────── ─────────
40,748 73,479
───────── ─────────
Creditors: amounts falling due within one year 8 (501,543) (403,939)
───────── ─────────
Net Current Liabilities (460,795) (330,460)
───────── ─────────
Total Assets less Current Liabilities (260,696) (136,200)
 
Creditors:
amounts falling due after more than one year 9 (11,315) -
───────── ─────────
Net Liabilities (272,011) (136,200)
═════════ ═════════
 
Capital and Reserves
Called up share capital 10 10
Retained earnings (272,021) (136,210)
───────── ─────────
Shareholders' Deficit (272,011) (136,200)
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Income Statement.
           
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 12 March 2025 and signed on its behalf by
           
           
________________________________          
Mr. Michael Colton          
Director          
           



Carma Retail Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 July 2024

   
1. General Information
 
Carma Retail Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI671407. The registered office of the company is 16 Mount Charles, Belfast, BT7 1NZ, Northern Ireland. The Principal Activity of the Company is the sale of Hot Beverages through owned vending units. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 July 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Income
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 20% Straight Line
  Fixtures, fittings and equipment - 20% Straight Line
  Motor vehicles - 25% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable income for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable income and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Going concern
 
The directors believe that the company will continue to be profitable in the future. The ability of the company to continue to trade as a going concern is wholly dependent on the continued support of its directors, hence the directors feel it is appropriate to prepare the financial statements on the going concern basis.

       
4. Employees
 
The average monthly number of employees, including directors, during the financial year was:
 
  2024 2023
  Number Number
 
Directors 5 5
Employee 1 -
  ───────── ─────────
  6 5
  ═════════ ═════════
           
5. Property, plant and equipment
  Plant and Fixtures, Motor Total
  machinery fittings and vehicles  
    equipment    
  £ £ £ £
Cost
At 1 August 2023 171,099 65,727 - 236,826
Additions 20,650 31,711 12,495 64,856
Disposals (9,322) - - (9,322)
  ───────── ───────── ───────── ─────────
At 31 July 2024 182,427 97,438 12,495 292,360
  ───────── ───────── ───────── ─────────
Depreciation
At 1 August 2023 41,992 574 - 42,566
Charge for the financial year 49,056 538 1,822 51,416
On disposals (1,721) - - (1,721)
  ───────── ───────── ───────── ─────────
At 31 July 2024 89,327 1,112 1,822 92,261
  ───────── ───────── ───────── ─────────
Net book value
At 31 July 2024 93,100 96,326 10,673 200,099
  ═════════ ═════════ ═════════ ═════════
At 31 July 2023 129,107 65,153 - 194,260
  ═════════ ═════════ ═════════ ═════════
       
6. Stocks 2024 2023
  £ £
 
Finished goods and goods for resale 24,186 18,494
  ═════════ ═════════
       
7. Debtors 2024 2023
  £ £
 
Trade debtors - 1,108
Amounts owed by group undertakings 846 5,000
Other debtors 10 10
Taxation - 40,863
Prepayments and accrued income 2,267 6,167
  ───────── ─────────
  3,123 53,148
  ═════════ ═════════
       
8. Creditors 2024 2023
Amounts falling due within one year £ £
 
Trade creditors 35,259 17,139
Amounts owed to group undertakings 100,700 90,700
Taxation 3,728 -
Directors' current accounts 318,600 293,600
Other creditors (194) -
Accruals and deferred income 43,450 2,500
  ───────── ─────────
  501,543 403,939
  ═════════ ═════════
       
9. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Hire Purchase Loan 11,315 -
  ═════════ ═════════
 
Loans
Repayable between one and two years 2,625 -
Repayable between two and five years 8,690 -
  ───────── ─────────
  11,315 -
  ═════════ ═════════