Carpenter Farraday Limited - Filleted accounts

Registered number

05811766

Carpenter Farraday Limited

Filleted Accounts

31 December 2024

Carpenter Farraday Limited
Registered number:		05811766
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		43,621			30,168

Current assets
Debtors	4	291,836			286,757
Cash at bank and in hand		850,122			1,265,399
		1,141,958			1,552,156

Creditors: amounts falling due within one year	5	(343,392)			(601,485)

Net current assets			798,566			950,671

Total assets less current liabilities			842,187			980,839

Creditors: amounts falling due after more than one year	6		(4,199)			(14,200)

Provisions for liabilities			(7,916)			(6,766)


Net assets			830,072			959,873

Capital and reserves
Called up share capital			48			48
Share premium			988			988
Profit and loss account			829,036			958,837

Shareholders' funds			830,072			959,873

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




S J Nixon
Director
Approved by the board on 31 March 2025

Carpenter Farraday Limited
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	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 rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Leasehold land and buildings			over the lease term
	Plant and machinery			25%Reducing balance basis
	Motor vehicles			25%Reducing balance basis

	Debtors
	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.

	Creditors
	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.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2024		2023
Number							Number

	Average number of persons employed by the company					19		18


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 January 2024	22,184		67,481		6,041		95,706
	Additions	1,476		7,946		19,982		29,404
	Disposals	-		(20,112)		-		(20,112)
	At 31 December 2024	23,660		55,315		26,023		104,998

	Depreciation
	At 1 January 2024	19,078		45,076		1,384		65,538
	Charge for the year	1,327		6,291		4,464		12,082
	On disposals	-		(16,243)		-		(16,243)
	At 31 December 2024	20,405		35,124		5,848		61,377

	Net book value
	At 31 December 2024	3,255		20,191		20,175		43,621
	At 31 December 2023	3,106		22,405		4,657		30,168


4	Debtors					2024		2023
£							£

	Trade debtors					212,348		220,774
	Amounts owed by group undertakings and undertakings in which the company has a participating interest					2,375		-
	Other debtors					77,113		65,983
						291,836		286,757


5	Creditors: amounts falling due within one year					2024		2023
£							£

	Bank loans and overdrafts					10,000		10,000
	Trade creditors					20,294		45,486
	Taxation and social security costs					227,774		408,980
	Other creditors					85,324		137,019
						343,392		601,485


6	Creditors: amounts falling due after one year					2024		2023
£							£

	Bank loans					4,199		14,200


7	Other financial commitments					2024		2023
£							£

	Total future minimum payments under non-cancellable operating leases					230,698		305,534


8	Controlling party

	The company is a wholly-owned subsidiary of Carpenter Farraday Holdings Limited whose registered office is:
	The Ironworks
	30 Cheapside
	Brighton
	BN1 4GD


9	Other information

	Carpenter Farraday Limited is a private company limited by shares and incorporated in England. Its registered office is:
	The Ironworks
	30 Cheapside
	Brighton
	BN1 4GD