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REGISTERED NUMBER: 07780813















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Carbaf Properties Limited

Carbaf Properties Limited (Registered number: 07780813)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Carbaf Properties Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: C Attwood
R Attwood





REGISTERED OFFICE: Hambrook House
The Stream
Hambrook
Bristol
BS16 1RG





REGISTERED NUMBER: 07780813





ACCOUNTANTS: Verinder Powell Associates Ltd
Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ

Carbaf Properties Limited (Registered number: 07780813)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,300 28,262
Investment property 5 3,000,000 3,000,000
3,019,300 3,028,262

CURRENT ASSETS
Debtors 6 13,511 9,579
Cash at bank 43,772 108,140
57,283 117,719
CREDITORS
Amounts falling due within one year 7 149,329 144,275
NET CURRENT LIABILITIES (92,046 ) (26,556 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,927,254 3,001,706

CREDITORS
Amounts falling due after more than one
year

8

(2,120,786

)

(2,093,569

)

PROVISIONS FOR LIABILITIES (60,430 ) (124,627 )
NET ASSETS 746,038 783,510

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 746,036 783,508
746,038 783,510

Carbaf Properties Limited (Registered number: 07780813)

Balance Sheet - continued
30 September 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 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.

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 27 June 2025 and were signed on its behalf by:





C Attwood - Director


Carbaf Properties Limited (Registered number: 07780813)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Carbaf Properties Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

There have been no material departures from the Financial Reporting Standard 102 1A.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Tangible fixed assets
Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery- 20% straight line
Office equipment- 33% straight line
Motor vehicles- 25% reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.


Carbaf Properties Limited (Registered number: 07780813)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

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.

Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

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.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors have continued to adopt the going concern basis of accounting in preparing the financial statements.

Carbaf Properties Limited (Registered number: 07780813)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Office Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 October 2023
and 30 September 2024 20,506 7,109 18,110 45,725
DEPRECIATION
At 1 October 2023 8,954 5,113 3,396 17,463
Charge for year 4,101 1,182 3,679 8,962
At 30 September 2024 13,055 6,295 7,075 26,425
NET BOOK VALUE
At 30 September 2024 7,451 814 11,035 19,300
At 30 September 2023 11,552 1,996 14,714 28,262

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 3,000,000
NET BOOK VALUE
At 30 September 2024 3,000,000
At 30 September 2023 3,000,000

The directors have reviewed the valuation of the investment properties at 30 September 2024 and believe that the valuation recognised is aligned with the investment property fair value.

Carbaf Properties Limited (Registered number: 07780813)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 5,000 5,000
Other debtors 8,511 4,579
13,511 9,579

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 22,732 19,097
Trade creditors - 629
Taxation and social security 2,500 1,815
Other creditors 124,097 122,734
149,329 144,275

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans 1,562,162 1,585,130
Other creditors 558,624 508,439
2,120,786 2,093,569

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans 1,584,894 1,604,227

Interest is charged on these bank loans with rates ranging from 2.2% to 3.15% above the Bank of England base rate. These loans are secured by fixed and floating charges over the properties.

Carbaf Properties Limited (Registered number: 07780813)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

10. RELATED PARTY DISCLOSURES

Loans from key management



Key
management


Total
2024 £ £
At start of period 608,439 608,439
Advanced 61,202 61,202
Repaid (11,017 (11,017 )
At end of period 658,624 658,624


Key
management


Total
2023 £ £
At start of period 586,378 586,378
Advanced 25,449 25,449
Repaid (3,388 (3,388 )
At end of period 608,439 608,439

The loan from key management are interest free and repayable on demand. Management anticipate that £100,000 of this is to be repaid within one year and £558,624 is due to be repaid after one year.