REGISTERED NUMBER: |
Carbis Properties Limited |
Unaudited Financial Statements |
for the Year Ended 30 June 2024 |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Non distributable reserves |
Retained earnings |
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 |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
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 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Other creditors |
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. |
2024 | 2023 |
£ | £ |
Creditor as at 30 June 2024 | 334,876 | 320,707 |
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 |