16 27 June 2025 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-08 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP NI695214 2023-03-08 2024-04-30 NI695214 2024-04-30 NI695214 2023-03-07 NI695214 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-08 2024-04-30 NI695214 core:MotorVehicles 2023-03-08 2024-04-30 NI695214 bus:Director1 2023-03-08 2024-04-30 NI695214 core:WithinOneYear 2024-04-30 NI695214 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 NI695214 core:MotorVehicles 2024-04-30 NI695214 core:AfterOneYear 2024-04-30 NI695214 core:ShareCapital 2024-04-30 NI695214 core:RetainedEarningsAccumulatedLosses 2024-04-30 NI695214 core:AcceleratedTaxDepreciationDeferredTax 2024-04-30 NI695214 core:TaxLossesCarry-forwardsDeferredTax 2024-04-30 NI695214 bus:SmallEntities 2023-03-08 2024-04-30 NI695214 bus:Audited 2023-03-08 2024-04-30 NI695214 bus:SmallCompaniesRegimeForAccounts 2023-03-08 2024-04-30 NI695214 bus:PrivateLimitedCompanyLtd 2023-03-08 2024-04-30 NI695214 bus:FullAccounts 2023-03-08 2024-04-30
COMPANY REGISTRATION NUMBER: NI695214
Carrick 812 Limited
Filleted Financial Statements
30 April 2024
Carrick 812 Limited
Statement of Financial Position
30 April 2024
30 Apr 24
Note
£
Fixed assets
Tangible assets
6
6,604,754
Current assets
Debtors
7
163,269
Cash at bank and in hand
3,251,064
------------
3,414,333
Creditors: amounts falling due within one year
8
9,737,064
------------
Net current liabilities
6,322,731
------------
Total assets less current liabilities
282,023
Creditors: amounts falling due after more than one year
9
42,524
Provisions
765,619
---------
Net liabilities
( 526,120)
---------
Capital and reserves
Called up share capital
1
Profit and loss account
( 526,121)
---------
Shareholders deficit
( 526,120)
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The director acknowledges his 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 were approved by the board of directors and authorised for issue on 27 June 2025 , and are signed on behalf of the board by:
Mr G J Yates
Director
Company registration number: NI695214
Carrick 812 Limited
Notes to the Financial Statements
Period from 8 March 2023 to 30 April 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 1-6 St Helens Business Park, Holywood, BT18 9HQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
4% reducing balance
Motor vehicles
-
18% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 16 .
5. Tax on profit
Major components of tax expense
Period from
8 Mar 23 to
30 Apr 24
£
Deferred tax:
Origination and reversal of timing differences
765,619
---------
Tax on profit
765,619
---------
Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the period is higher than the standard rate of corporation tax in the UK of 25 %.
Period from
8 Mar 23 to
30 Apr 24
£
Profit on ordinary activities before taxation
239,498
---------
Profit on ordinary activities by rate of tax
59,875
Effect of expenses not deductible for tax purposes
5,097
Effect of capital allowances and depreciation
51,468
Tax effects of unrealised capital gains
649,179
---------
Tax on profit
765,619
---------
6. Tangible assets
Freehold property
Motor vehicles
Total
£
£
£
Cost
At 8 March 2023
Additions
6,692,561
154,667
6,847,228
------------
---------
------------
At 30 April 2024
6,692,561
154,667
6,847,228
------------
---------
------------
Depreciation
At 8 March 2023
Charge for the period
225,416
17,058
242,474
------------
---------
------------
At 30 April 2024
225,416
17,058
242,474
------------
---------
------------
Carrying amount
At 30 April 2024
6,467,145
137,609
6,604,754
------------
---------
------------
7. Debtors
30 Apr 24
£
Trade debtors
1,869
Amounts owed by group undertakings
60,395
Prepayments and accrued income
101,005
---------
163,269
---------
8. Creditors: amounts falling due within one year
30 Apr 24
£
Bank loans and overdrafts
3,000,117
Trade creditors
93,790
Amounts owed to group undertakings
6,434,294
Accruals and deferred income
80,472
Social security and other taxes
6,061
Obligations under finance leases and hire purchase contracts
8,200
Other Creditors
114,130
------------
9,737,064
------------
National Westminster Bank plc (trading as Ulster Bank) held the following assets as security as at 30 April 2024: - All monies Debenture held giving a fixed and floating charge over the assets of Carrick 812 Limited - All monies Freehold 1st legal charge held over the assets of the land and premises known as Loughshore Hotel & development site, 75 Belfast Road, Carrickfergus, Co Antrim, BT38 8BX - Company Guarantee for £3,000,000 from Healthcare Ireland Holdings Limited
9. Creditors: amounts falling due after more than one year
30 Apr 24
£
Payments received on account
9,724
Obligations under finance leases and hire purchase contracts
32,800
--------
42,524
--------
10. Deferred tax
The deferred tax included in the statement of financial position is as follows:
30 Apr 24
£
Included in provisions
765,619
---------
The deferred tax account consists of the tax effect of timing differences in respect of:
30 Apr 24
£
Accelerated capital allowances
149,704
Unused tax losses
( 33,264)
Deferred tax - unrealised capital gains
649,179
---------
765,619
---------
11. Summary audit opinion
The auditor's report dated 27 June 2025 was unqualified .
The senior statutory auditor was John Magee , for and on behalf of Aubrey Campbell & Company .
12. Related party transactions
The company owed £40,374 to its parent undertaking at the balance sheet date. The company owed £6,261,185 at the balance sheet date to Healthcare Ireland Group Limited, a company sharing the same ultimate parent undertaking. The company owed £95,135 to Aspen Ireland Limited, a company with a common director. The company owed £37,600 net at the balance sheet date to Y3 Racing & Executive Hire Limited, its fellow subsidiary. During the period, the company purchased goods/services from Y3 Racing & Executive Hire Limited totalling £40,000. The company was owed £11,000 at the balance sheet date by its fellow subsidiary, Y3 DLR Limited. The company was owed £34,500 at the balance sheet date by its fellow subsidiary, Y3 STK Limited. The company was owed £14,895 at the balance sheet date by its controlling party, Y3 Holdings Limited. All amounts are repayable on demand.
13. Controlling party
The company regards Y3 Group Limited as its parent company. The company's ultimate parent undertaking is Y3 Holdings Limited. The address of Y3 Holdings Limited is Fort Ann, Douglas, Isle of Man IM1 5PD. Y3 Holdings Limited is the controlling party. Mr G J Yates is the ultimate controlling party by virtue of his shareholding in Y3 Holdings Limited.