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Registration number: 07109664

Carcaz Limited

Annual Report and Unaudited Financial Statements

For The Year Ended 31 December 2024

 

Carcaz Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Carcaz Limited

(Registration number: 07109664)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

4

 

-

 

276

Investment property

5

 

141,373

 

141,373

   

141,373

 

141,649

Current assets

   

 

Debtors

6

1,025

 

390

 

Cash at bank and in hand

 

4,298

 

4,927

 

 

5,323

 

5,317

 

Creditors: Amounts falling due within one year

7

(16,588)

 

(16,093)

 

Net current liabilities

   

(11,265)

 

(10,776)

Total assets less current liabilities

   

130,108

 

130,873

Creditors: Amounts falling due after more than one year

7

 

(104,044)

 

(101,625)

Net assets

   

26,064

 

29,248

Capital and reserves

   

 

Called up share capital

11

 

11

 

Profit and loss account

26,053

 

29,237

 

Total equity

   

26,064

 

29,248

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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 June 2025
 

.........................................
Mr C. Lodge
Director

 

Carcaz Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Cranewells Vale
Leeds
LS15 9HF

2

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 , including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental of investment property as a furnished holiday let.Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the company.

Tax

The tax expense for the period comprises 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Office equipment

33% and 50% Straight line

Furniture and fittings

33% Straight line

 

Carcaz Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate. Changes in fair value are recognised in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. 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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Office Equipment
£

Furniture and fittings
£

Total
£

Cost or valuation

At 1 January 2024

3,614

6,901

10,515

Disposals

-

(583)

(583)

At 31 December 2024

3,614

6,318

9,932

Depreciation

At 1 January 2024

3,430

6,809

10,239

Charge for the year

184

92

276

Eliminated on disposal

-

(583)

(583)

At 31 December 2024

3,614

6,318

9,932

Carrying amount

At 31 December 2024

-

-

-

At 31 December 2023

184

92

276

 

Carcaz Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2024

5

Investment properties

2024
£

At 1 January

141,373

At 31 December

141,373


Investment property was acquired on 4 December 2020. The director believes the carrying value at 31 December 2024 is not materially different to the fair value at that date.

6

Debtors

Current

2024
£

2023
£

Prepayments

461

390

Other debtors

564

-

 

1,025

390

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Taxation and social security

-

254

Other creditors

16,588

15,839

16,588

16,093

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Loans and borrowings

104,044

101,625


Creditors include mortgage loans which are secured of £104,044 (2023 - £101,625). The mortgage was drawn in 2021 over a 25 year period and is on an interest only basis. It is secured on the company's investment property and by way of a personal guarantee of the director.