Company registration number 07119706 (England and Wales)
THE CARLTON FOREST PARTNERSHIP LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
THE CARLTON FOREST PARTNERSHIP LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
THE CARLTON FOREST PARTNERSHIP LTD
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
75,000
75,000
Cash at bank and in hand
1
1
75,001
75,001
Creditors: amounts falling due within one year
(802,071)
(790,267)
Net current liabilities
(727,070)
(715,266)
Capital and reserves
Called up share capital
3
1
1
Profit and loss reserves
(727,071)
(715,267)
Total equity
(727,070)
(715,266)
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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.
These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 28 April 2025 and are signed on its behalf by:
Mr AM Pepper
Director
Company registration number 07119706 (England and Wales)
THE CARLTON FOREST PARTNERSHIP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information
The Carlton Forest Partnership Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Woodland Grove Farm, Blyth Road, Worksop, Nottinghamshire, S81 0TP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2
Going concern
The financial statements are prepared on the going concern basis which assumes that the company will continue undertaking business activities. However, the validity of the going concern basis is dependent upon the continued support of the directors. If the company is unable to continue to trade, adjustments would be required to reduce the value of assets to their recoverable amounts, to provide for any further liabilities that might arise and to analyse long term liabilities as current liabilities.
Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.
When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.
THE CARLTON FOREST PARTNERSHIP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Classification of 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 deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1
THE CARLTON FOREST PARTNERSHIP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
3
Called up share capital
(Continued)
- 4 -
2024
2023
2024
2023
Preference share capital
Number
Number
£
£
Issued and fully paid
£1 redeemable cumulative preference shares of £1 each
200,000
200,000
200,000
200,000
Preference shares classified as liabilities
200,000
200,000
There are 200,000 £1 redeemable cumulative preference shares in issue. These are issued at par and the cumulative preference shares are redeemable at the option of the holder. They are redeemable at £1 per share and carry the following rights:
The company will, without resolution of the board or company in general meeting and before application of any available profits to reserve or for any other purpose, pay the holders of the preference shares a fixed cumulative preferential dividend at an annual rate of £0.02 per share to be paid on the first day of December in each year to the person registered as its holder on the relevant date. On a return on assets on liquidation, capital reduction or otherwise (other than a conversion, redemption or purchase of shares), the assets of the company remaining after the payment of its liabilities shall (to the extent that the company is lawfully able to do so) be applied in first paying to the holders of the preference shares £1.00 per share together with a sum equal to any arrears and accruals of the preferred dividend calculated down to the date of the return of capital and, if there is a shortfall in assets remaining to satisfy the entitlements of preference shares in full, the proceeds shall be distributed to the holders of the preference shares in proportion to the amounts due to each such share held and second, in paying the ordinary share and preference shares on a pro rata basis, as if they constituted one and the same class. The preference shares shall confer on each holder of such shares the right to receive notice of and to attend, speak and vote at all general meetings of the company, and each preference share shall carry one vote per share.
The earliest redemption date was 1 December 2014.