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REGISTERED NUMBER: 03720482 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

CARLTON HAINES LTD
T/A
HAINES & CO

CARLTON HAINES LTD (REGISTERED NUMBER: 03720482)
T/A HAINES & CO






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CARLTON HAINES LTD
T/A HAINES & CO

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTORS: N P Griggs FCA
S N James ACA





SECRETARY: S N James ACA





REGISTERED OFFICE: Carlton House
28/29 Carlton Terrace
Portslade
East Sussex
BN41 1UR





REGISTERED NUMBER: 03720482 (England and Wales)





ACCOUNTANTS: Haines & Co
Chartered Accountants
Carlton House
28-29 Carlton Terrace
Portslade
Brighton
BN41 1UR

CARLTON HAINES LTD (REGISTERED NUMBER: 03720482)
T/A HAINES & CO

BALANCE SHEET
31 MARCH 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 144,000 153,000
Tangible assets 5 2,966 1,493
146,966 154,493

CURRENT ASSETS
Stocks 310 310
Debtors 6 113,573 124,086
Cash at bank and in hand 73,477 95,670
187,360 220,066
CREDITORS
Amounts falling due within one year 7 93,366 94,226
NET CURRENT ASSETS 93,994 125,840
TOTAL ASSETS LESS CURRENT
LIABILITIES

240,960

280,333

PROVISIONS FOR LIABILITIES 704 352
NET ASSETS 240,256 279,981

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 239,256 278,981
SHAREHOLDERS' FUNDS 240,256 279,981

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

CARLTON HAINES LTD (REGISTERED NUMBER: 03720482)
T/A HAINES & CO

BALANCE SHEET - continued
31 MARCH 2025


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 5 June 2025 and were signed on its behalf by:




N P Griggs FCA - Director



S N James ACA - Director


CARLTON HAINES LTD (REGISTERED NUMBER: 03720482)
T/A HAINES & CO

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1. STATUTORY INFORMATION

Carlton Haines Ltd 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.

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.

Turnover
Turnover represents amounts chargeable to clients for professional services provided during the year, inclusive of direct expenses incurred on client assignments but excluding value added tax.

Turnover is recognised when a right to consideration has been obtained through performance under each contract. Consideration accrues as contract activity progresses by reference to the value of the work performed.

Unbilled revenue is included in debtors as "Amounts recoverable on contracts".

Goodwill
Goodwill consists of three parts being £225,000 being the acquisition of the core practice on commencement of this business.

FRS 102 does not allow Goodwill to be regarded as having an indefinite life and presumes that such assets have a finite life. In the opinion of the Directors this is at odds with the commercial reality relating to goodwill attributable to Accounting practices.

There is an active market place in the purchase and sale of goodwill and Accounting practices with prices being agreed at around once time gross recurring fees. The gross recurring fees of this practice are substantially in excess of £225,000 and therefore the Directors feel that the amortisation of goodwill would result in the accounts failing to show a true and fair view.

However in order to comply with FRS 102 in view of the Directors and their knowledge of the market place for accounting practices, that a reliable estimate of the useful life of this asset is available and set at 25 years so this asset will be amortised accordingly on a straight line basis.

The second element of goodwill is £101,504 for the purchase of a practice in 2011 including costs. This expenditure has been fully amortised in prior years.

The third element of goodwill is £17,776 for the purchase of a further small practice in 2013. This expenditure has also been fully amortised in prior years..

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


CARLTON HAINES LTD (REGISTERED NUMBER: 03720482)
T/A HAINES & CO

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES - continued
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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 344,280
AMORTISATION
At 1 April 2024 191,280
Charge for year 9,000
At 31 March 2025 200,280
NET BOOK VALUE
At 31 March 2025 144,000
At 31 March 2024 153,000

CARLTON HAINES LTD (REGISTERED NUMBER: 03720482)
T/A HAINES & CO

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2024 77,982
Additions 3,106
At 31 March 2025 81,088
DEPRECIATION
At 1 April 2024 76,489
Charge for year 1,633
At 31 March 2025 78,122
NET BOOK VALUE
At 31 March 2025 2,966
At 31 March 2024 1,493

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 41,668 36,747
Amounts due under contracts 60,519 74,539
Other debtors 350 -
Directors' current accounts 519 -
Prepayments 10,517 12,800
113,573 124,086

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 4,161 5,022
Tax 43,041 44,283
Social security and other taxes 9,770 11,081
VAT 24,200 23,740
Other creditors 104 238
Directors' current accounts - 347
Accrued expenses 12,090 9,515
93,366 94,226

CARLTON HAINES LTD (REGISTERED NUMBER: 03720482)
T/A HAINES & CO

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025 2024
£    £   
S N James ACA
Balance outstanding at start of year - -
Amounts advanced 173 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 173 -

N P Griggs FCA
Balance outstanding at start of year - -
Amounts advanced 346 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 346 -

The overdrawn directors' loan accounts were repaid after the year end.