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Registration number: 01424254

David Carne (Sales) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

David Carne (Sales) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

David Carne (Sales) Limited

Company Information

Directors

David Carne

Benjamin Carne

Company secretary

Nicola Carne

Registered office

The Boathouse
Commercial Road
Penryn
Cornwall
TR10 8AE

Accountants

Julia Evans Accountants Ltd 79-81 Boslowick Road
Falmouth Road
Falmouth
Cornwall
TR11 4QD

 

David Carne (Sales) Limited

(Registration number: 01424254)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

25,292

25,338

Current assets

 

Stocks

110,000

121,000

Debtors

5

26,181

19,420

Cash at bank and in hand

 

13,759

77,020

 

149,940

217,440

Creditors: Amounts falling due within one year

6

(25,656)

(34,654)

Net current assets

 

124,284

182,786

Total assets less current liabilities

 

149,576

208,124

Provisions for liabilities

(1,420)

(1,438)

Net assets

 

148,156

206,686

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

148,056

206,586

Shareholders' funds

 

148,156

206,686

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

David Carne (Sales) Limited

(Registration number: 01424254)
Balance Sheet as at 30 November 2024

Approved and authorised by the Board on 7 August 2025 and signed on its behalf by:
 

.........................................
David Carne
Director

 

David Carne (Sales) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

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

The address of its registered office is:
The Boathouse
Commercial Road
Penryn
Cornwall
TR10 8AE
United Kingdom

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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Government grants

Government grants have been recognised under the accrual model.

Tax

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

 

David Carne (Sales) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Tangible assets

Tangible 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

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

Other property, plant and equipment

20% reducing balance

Motor vehicles

20% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

David Carne (Sales) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 3).

 

David Carne (Sales) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2023

17,817

1,068

17,210

92,475

128,570

Additions

-

-

-

1,822

1,822

At 30 November 2024

17,817

1,068

17,210

94,297

130,392

Depreciation

At 1 December 2023

-

214

16,453

86,565

103,232

Charge for the year

-

170

151

1,547

1,868

At 30 November 2024

-

384

16,604

88,112

105,100

Carrying amount

At 30 November 2024

17,817

684

606

6,185

25,292

At 30 November 2023

17,817

854

757

5,910

25,338

Included within the net book value of land and buildings above is £17,817 (2023 - £17,817) in respect of freehold land and buildings.
 

 

David Carne (Sales) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

4,573

594

Prepayments

4,677

4,666

Other debtors

16,931

14,160

 

26,181

19,420

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

5,146

2,572

Taxation and social security

958

9,758

Accruals and deferred income

1,762

1,711

Other creditors

17,790

20,613

25,656

34,654

Creditors: amounts falling due after more than one year

2024
£

2023
£

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100