Caseware UK (AP4) 2024.0.164 2024.0.164 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2024-01-01falseNo description of principal activity1110truefalse 12063644 2024-01-01 2024-12-31 12063644 2023-01-01 2023-12-31 12063644 2024-12-31 12063644 2023-12-31 12063644 c:Director2 2024-01-01 2024-12-31 12063644 d:PlantMachinery 2024-01-01 2024-12-31 12063644 d:MotorVehicles 2024-01-01 2024-12-31 12063644 d:MotorVehicles 2024-12-31 12063644 d:MotorVehicles 2023-12-31 12063644 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12063644 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 12063644 d:OfficeEquipment 2024-01-01 2024-12-31 12063644 d:OfficeEquipment 2024-12-31 12063644 d:OfficeEquipment 2023-12-31 12063644 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12063644 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 12063644 d:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 12063644 d:OtherPropertyPlantEquipment 2024-12-31 12063644 d:OtherPropertyPlantEquipment 2023-12-31 12063644 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12063644 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 12063644 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 12063644 d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 12063644 d:Goodwill 2024-01-01 2024-12-31 12063644 d:Goodwill 2024-12-31 12063644 d:Goodwill 2023-12-31 12063644 d:CurrentFinancialInstruments 2024-12-31 12063644 d:CurrentFinancialInstruments 2023-12-31 12063644 d:Non-currentFinancialInstruments 2024-12-31 12063644 d:Non-currentFinancialInstruments 2023-12-31 12063644 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 12063644 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12063644 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 12063644 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 12063644 d:ShareCapital 2024-12-31 12063644 d:ShareCapital 2023-12-31 12063644 d:RetainedEarningsAccumulatedLosses 2024-12-31 12063644 d:RetainedEarningsAccumulatedLosses 2023-12-31 12063644 c:OrdinaryShareClass1 2024-01-01 2024-12-31 12063644 c:OrdinaryShareClass1 2024-12-31 12063644 c:OrdinaryShareClass1 2023-12-31 12063644 c:FRS102 2024-01-01 2024-12-31 12063644 c:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 12063644 c:FullAccounts 2024-01-01 2024-12-31 12063644 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12063644 d:HirePurchaseContracts d:WithinOneYear 2024-12-31 12063644 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 12063644 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-12-31 12063644 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 12063644 2 2024-01-01 2024-12-31 12063644 d:Goodwill d:OwnedIntangibleAssets 2024-01-01 2024-12-31 12063644 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12063644










Carbis Loadtec Group Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 December 2024





 
Carbis Loadtec Group Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Carbis Loadtec Group Limited for the year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Carbis Loadtec Group Limited for the year ended 31 December 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Carbis Loadtec Group Limited, as a body, in accordance with the terms of our engagement letter dated 21 May 2024Our work has been undertaken solely to prepare for your approval the financial statements of Carbis Loadtec Group Limited and state those matters that we have agreed to state to the Board of directors of Carbis Loadtec Group Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Carbis Loadtec Group Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Carbis Loadtec Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Carbis Loadtec Group Limited. You consider that Carbis Loadtec Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Carbis Loadtec Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
25 March 2025
Page 1

 
Carbis Loadtec Group Limited
Registered number: 12063644

Balance sheet
As at 31 December 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
22,500
27,000

Tangible assets
 5 
69,203
58,777

  
91,703
85,777

Current assets
  

Stocks
  
55,818
35,309

Debtors: amounts falling due within one year
 6 
1,583,729
628,300

Cash at bank and in hand
  
693,333
317,570

  
2,332,880
981,179

Creditors: amounts falling due within one year
 7 
(1,677,789)
(709,791)

Net current assets
  
 
 
655,091
 
 
271,388

Total assets less current liabilities
  
746,794
357,165

Creditors: amounts falling due after more than one year
 8 
(12,410)
(16,060)

Provisions for liabilities
  

Deferred tax
  
(16,046)
(13,242)

Net assets
  
718,338
327,863


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
718,238
327,763

  
718,338
327,863


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
 
Page 2

 
Carbis Loadtec Group Limited
Registered number: 12063644

Balance sheet (continued)
As at 31 December 2024


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S K Keeler
Director
Date: 25 March 2025

The notes on pages 4 to 13 form part of these financial statements.

Page 3

 
Carbis Loadtec Group Limited
 

 
Notes to the financial statements
For the year ended 31 December 2024

1.


General information

Carbis Loadtec Group Limited is a limited liability company incorporated in England. The address of the registered office is 37, St Margaret's Street, Canterbury, Kent, CT1 2TU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 4

 
Carbis Loadtec Group Limited
 

 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20.00%
Motor vehicles
-
20.00%
Office equipment
-
33.33%
Software
-
33.33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
Carbis Loadtec Group Limited
 

 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of
Page 6

 
Carbis Loadtec Group Limited
 

 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 7

 
Carbis Loadtec Group Limited
 

 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.12

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.13

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.14

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 8

 
Carbis Loadtec Group Limited
 

 
Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.16

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 10).

Page 9

 
Carbis Loadtec Group Limited
 

 
Notes to the financial statements
For the year ended 31 December 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2024
45,000



At 31 December 2024

45,000



Amortisation


At 1 January 2024
18,000


Charge for the year on owned assets
4,500



At 31 December 2024

22,500



Net book value



At 31 December 2024
22,500



At 31 December 2023
27,000



Page 10

 
Carbis Loadtec Group Limited
 

 
Notes to the financial statements
For the year ended 31 December 2024

5.


Tangible fixed assets





Motor vehicles
Office equipment
Software
Total

£
£
£
£



Cost or valuation


At 1 January 2024
38,745
40,388
7,000
86,133


Additions
23,680
8,200
-
31,880


Disposals
-
(9,306)
-
(9,306)



At 31 December 2024

62,425
39,282
7,000
108,707



Depreciation


At 1 January 2024
5,812
14,544
7,000
27,356


Charge for the year on owned assets
-
8,711
-
8,711


Charge for the year on financed assets
11,695
-
-
11,695


Disposals
-
(8,258)
-
(8,258)



At 31 December 2024

17,507
14,997
7,000
39,504



Net book value



At 31 December 2024
44,918
24,285
-
69,203



At 31 December 2023
32,933
25,844
-
58,777

The net book value of financed assets was £44,918 (2023 - £32,933).


6.


Debtors

2024
2023
£
£


Trade debtors
1,542,947
604,311

Prepayments and accrued income
40,782
23,989

1,583,729
628,300


Page 11

 
Carbis Loadtec Group Limited
 

 
Notes to the financial statements
For the year ended 31 December 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,130,819
268,526

Amounts owed to group undertakings
204,549
191,860

Other taxation and social security
71,510
94,944

Obligations under finance lease and hire purchase contracts
20,742
12,848

Other creditors
169,607
37,301

Accruals and deferred income
80,562
104,312

1,677,789
709,791



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
12,410
16,060



9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
20,742
12,848

Between 1-5 years
12,410
16,060

33,152
28,908


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



11.


Related party transactions

The company has borrowed £204,549 (2023 - £191,860) from Sam Carbis Solutions LLC, the majority shareholder. The unsecured loan is interest free and repayable on demand. 

Page 12

 
Carbis Loadtec Group Limited
 

 
Notes to the financial statements
For the year ended 31 December 2024

12.


Controlling party

The controlling party is Sam Carbis Solutions LLC who owns 60% of the issued share capital. 


Page 13