Registration number:
Carr & Carr (Builders) Limited
for the Year Ended 31 December 2024
Carr & Carr (Builders) Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Carr & Carr (Builders) Limited
Company Information
Directors |
J Carr C S Carr D A Carr |
Registered office |
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Solicitors |
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Bankers |
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Carr & Carr (Builders) Limited
(Registration number: 00413642)
Balance Sheet as at 31 December 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Other financial assets |
4,180 |
4,180 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Deferred tax asset |
- |
8,399 |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities: deferred tax |
( |
- |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Carr & Carr (Builders) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
General information |
The Company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements have been prepared in sterling and are rounded to the nearest pound.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous accounting periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
Carr & Carr (Builders) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and equipment |
15% reducing balance |
Land and buildings |
50 years straight line |
Furniture. fittings and equipment |
25% reducing balance |
Motor vehicles |
20% reducing balance |
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Stocks
Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Defined contribution pension obligation
The company makes contributions into personal pension schemes on behalf of the directors. Contributions payable for the year are charged in the profit and loss account.
Staff numbers |
The average number of persons employed by the Company (including Directors) during the year, was
Carr & Carr (Builders) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Plant and equipment |
Total |
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Cost or valuation |
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At 1 January 2024 |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Included within the net book value of land and buildings above is £36,523 (2023 - £37,922) in respect of freehold land and buildings.
Carr & Carr (Builders) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Investments |
Unlisted investments at cost |
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Cost or valuation |
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At 1 January 2024 |
4,180 |
At 31 December 2024 |
4,180 |
Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Stocks |
2024 |
2023 |
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Work in progress |
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Debtors |
Current |
2024 |
2023 |
Trade debtors |
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Prepayments |
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Other debtors |
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Carr & Carr (Builders) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Bank loans and overdrafts |
- |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Accruals and deferred income |
12,300 |
8,500 |
Directors' loan accounts |
- |
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Creditors include other creditors which are secured on land of £nil (2023 - £340,792).
Creditors: amounts falling due after more than one year
2024 |
2023 |
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Due after one year |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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4,000 |
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4,000 |