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Registered number: 14443566
Cartra Limited
Unaudited
Financial statements
Information for filing with the registrar
For the Year Ended 30 September 2024
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Cartra Limited
Chartered Accountants' Report to the Director on the preparation of the Unaudited Statutory Financial Statements of Cartra Limited for the Year Ended 30 September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cartra Limited for the year ended 30 September 2024 which comprise the Balance Sheet, the Statement of Changes in Equity and the related notes from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.
This report is made solely to the director of Cartra Limited in accordance with the terms of our engagement letter dated 10 November 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Cartra Limited and state those matters that we have agreed to state to the director of Cartra Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cartra Limited and its director for our work or for this report.
It is your duty to ensure that Cartra Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Cartra Limited. You consider that Cartra Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of Cartra Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
29 September 2025
Page 1
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Cartra Limited
Registered number: 14443566
Balance Sheet
As at 30 September 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current (liabilities)/assets
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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Page 2
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Cartra Limited
Registered number: 14443566
Balance Sheet (continued)
As at 30 September 2024
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................
O Dorman
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The notes on pages 5 to 10 form part of these financial statements.
Page 3
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Cartra Limited
Statement of Changes in Equity
For the Year Ended 30 September 2024
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Comprehensive income for the year
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Surplus on revaluation of freehold property
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Transfer to/from profit and loss account
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Other comprehensive income for the year
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Total comprehensive income for the year
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Contributions by and distributions to owners
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Shares issued during the year
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Total transactions with owners
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The notes on pages 5 to 10 form part of these financial statements.
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Page 4
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Cartra Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
The company is a private company, limited by share capital and incorporated in England and Wales. The registered office and principle place of business is 30 Waterfront, Brighton Marina Village, Brighton, England, BN2 5WA.
The financial statements are present in Sterling and rounded to the nearest £1.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Page 5
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Cartra Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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Revaluation of tangible fixed assets
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Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
Investment property cost includes all directly attributable expenditure to the purchase of the property, including interest up to the point of letting. Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Page 6
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Cartra Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
2.Accounting policies (continued)
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Investments in non-derivative instruments that are equity to the issuer are measured:
• at fair value with changes recognised in the Statement of Comprehensive Income if the shares are publicly traded or their fair value can otherwise be measured reliably;
• at cost less impairment for all other investments.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).
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Page 7
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Cartra Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
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Freehold investment property
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The 2024 valuations were made by the director, on an open market value for existing use basis.
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If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
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Called up share capital not paid
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Amounts owed to related companies
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Other taxation and social security
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Accruals and deferred income
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Page 8
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Cartra Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
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Creditors: Amounts falling due after more than one year
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Charged to profit or loss
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The deferred taxation balance is made up as follows:
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Accelerated capital allowances
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Allotted, called up and fully paid
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1,064,465 (2023 - 887,098) Ordinary shares of £0.01 each
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1,650,000 (2023 - 1,300,000) Preference shares of £1.00 each
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During the year the company allotted 177,367 ordinary shares of £0.01 each and 350,000 preference shares of £1.00 each. The preference shares have no fixed dividend and are only repayable at the option of the company.
Page 9
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Cartra Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
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Related party transactions
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Rivers Birtwell Ltd
Common directors
During the year, Cartra Ltd provided a loan to Rivers Birtwell Ltd, for which interest of £6,906 (2023: £2,309) was charged. Project management fees, in accordance with the joint venture agreement, totalling 470,279 (2023: £nil) were charged from Rivers Birtwell Ltd and expenses of £247 (2023: £nil) were recharged. At the balance sheet date the amount due to Rivers Birtwell Ltd was £470,279 (2023: £50,307).
Big Student House Limited
Common directors
During the year, Big Student House Limited recharged agent fees of £15,990 (2023: £1,421) and inventory costs of £2,092 (2023: £nil) to Cartra Limited. At the balance sheet date the amount due to Big Student House Limited was £nil (2023: £nil).
Rivers Birtwell Construction Limited
Common directors
During the year, Rivers Birtwell Construction Limited recharged expenses to Cartra Limited of £2,514 (2023: £1,701). At the year end the amount due to Rivers Birtwell Construction Limited was £nil (2023: £nil).
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Page 10
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