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Carsmith Limited

Registered Number
11909467
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

Carsmith Limited
Company Information
for the year from 1 April 2024 to 31 March 2025

Director

Ian Smith

Registered Address

42 High Street, Wanstead
London
E11 2RJ

Registered Number

11909467 (England and Wales)
Carsmith Limited
Balance Sheet as at
31 March 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets3-745
-745
Current assets
Debtors42,9402,874
Cash at bank and on hand1,1032,981
4,0435,855
Creditors amounts falling due within one year5(3,760)(13,112)
Net current assets (liabilities)283(7,257)
Total assets less current liabilities283(6,512)
Creditors amounts falling due after one year6(37,000)-
Provisions for liabilities7-(142)
Net assets(36,717)(6,654)
Capital and reserves
Called up share capital200200
Profit and loss account(36,917)(6,854)
Shareholders' funds(36,717)(6,654)
The financial statements were approved and authorised for issue by the Director on 17 June 2025, and are signed on its behalf by:
Ian Smith
Director
Registered Company No. 11909467
Carsmith Limited
Notes to the Financial Statements
for the year ended 31 March 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Office equipment 25% on cost Computer equipment 33% on cost
2.Average number of employees

20252024
Average number of employees during the year22
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 April 244,2934,293
At 31 March 254,2934,293
Depreciation and impairment
At 01 April 243,5483,548
Charge for year745745
At 31 March 254,2934,293
Net book value
At 31 March 25--
At 31 March 24745745
4.Debtors: amounts due within one year

2025

2024

££
Other debtors2,7242,724
Prepayments and accrued income216150
Total2,9402,874
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables100100
Amounts owed to related parties3,65613,007
Taxation and social security45
Total3,76013,112
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2025

2024

££
Amounts owed to related parties37,000-
Total37,000-
7.Provisions for liabilities

2025

2024

££
Net deferred tax liability (asset)-142
Total-142