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REGISTERED NUMBER: 02649159 (England and Wales)















Carbis Properties Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024






Carbis Properties Limited (Registered number: 02649159)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Carbis Properties Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: G Kathrens
M D Kathrens





REGISTERED OFFICE: K P L House
Belgravia Terrace
Pontypridd
Mid Glamorgan
CF37 4NA





REGISTERED NUMBER: 02649159 (England and Wales)





ACCOUNTANTS: Xeinadin South Wales & West Limited
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

Carbis Properties Limited (Registered number: 02649159)

Statement of Financial Position
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,799,081 2,799,081

CURRENT ASSETS
Debtors 5 100,000 -
Cash at bank 20,203 46,008
120,203 46,008
CREDITORS
Amounts falling due within one year 6 411,904 394,391
NET CURRENT LIABILITIES (291,701 ) (348,383 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,507,380

2,450,698

CREDITORS
Amounts falling due after more than one year 7 (18,133 ) (20,155 )

PROVISIONS FOR LIABILITIES (315,274 ) (315,274 )
NET ASSETS 2,173,973 2,115,269

CAPITAL AND RESERVES
Called up share capital 60 60
Non distributable reserves 1,261,094 1,261,094
Retained earnings 912,819 854,115
2,173,973 2,115,269

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Carbis Properties Limited (Registered number: 02649159)

Statement of Financial Position - continued
30 June 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





M D Kathrens - Director


Carbis Properties Limited (Registered number: 02649159)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Carbis Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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 Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Lease premiums received
Lease premiums received are credited to the deferred income account in the balance sheet in the year of receipt. The premium is then transferred from the deferred income account and credited to the profit and loss account on a straight line basis over the length of the lease.

Grants
Grants receivable in respect of tangible fixed assets are credited to the profit and loss account over the expected useful economic lives of the assets to which they relate. Grants received but not yet released to the profit and loss account are included as deferred income in the balance sheet. Grants receivable in respect of investment properties which are included in the balance sheet at market value and are not depreciated are credited to the deferred income account in the balance in the year of receipt. The grants are then transferred to the profit and loss account over 20 years straight line basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

Carbis Properties Limited (Registered number: 02649159)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 2,799,081
NET BOOK VALUE
At 30 June 2024 2,799,081
At 30 June 2023 2,799,081

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2015 791,830
Valuation in 2017 100,000
Valuation in 2018 495,000
Cost 1,412,251
2,799,081

If Investment properties had not been revalued they would have been included at the following historical cost:

30.6.24 30.6.23
£    £   
Cost 1,412,251 1,412,251

Investment properties were valued on an open market basis on 30 June 2024 by by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Amounts owed by group undertakings 100,000 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 271,580 257,410
Amounts owed to group undertakings 63,297 63,297
Taxation and social security 21,005 27,602
Other creditors 56,022 46,082
411,904 394,391

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Other creditors 18,133 20,155

8. SECURED DEBTS

The bank overdraft is secured with a first charge over 44 freehold properties included in the investment properties shown above.

Carbis Properties Limited (Registered number: 02649159)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. RELATED PARTY DISCLOSURES

The following transactions took place during the year with W.K. Plasterers Limited, a wholly owned subsidiary of Kathrens Holdings Limited who owns 80% of Carbis Properties Limited. The directors Mr G Kathrens and Mr MD Kathrens were also directors of W.K. Plasterers Limited throughout the year.

20242023
£   £   

Creditor as at 30 June 2024334,876320,707


10. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties were Mr G Kathrens, Mr MD Kathrens and Mrs N Powell by virtue of their equal shareholding in the parent company Kathrens Holdings Limited