Registration number: 08847273

Cartref Financial Services Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Cartref Financial Services Limited

Company Information

Director

Mr Neil Davies

Registered office

4a First Floor Heol Bryngwilli Cross Hands Llanelli Carmarthenshire SA14 6LR

Accountants

Wynne & Co Chartered Accountants Forestry House Brewery Road Carmarthen Carmarthenshire SA31 1TF

Cartref Financial Services Limited

(Registration number: 08847273)
Balance Sheet as at 31 January 2025

	Note	31 January 2025 £	31 January 2024 £
Fixed assets
Tangible assets	5	1,969	3,554
Current assets
Debtors	6	55,286	52,466
Cash at bank and in hand		22,162	20,948
		77,448	73,414
Creditors: Amounts falling due within one year	7	(31,208)	(21,156)
Net current assets		46,240	52,258
Total assets less current liabilities		48,209	55,812
Creditors: Amounts falling due after more than one year	7	(1,421)	(9,333)
Net assets		46,788	46,479
Capital and reserves
Called up share capital	8	101	101
Retained earnings		46,687	46,378
Shareholders' funds		46,788	46,479

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Cartref Financial Services Limited

(Registration number: 08847273)
Balance Sheet as at 31 January 2025

Approved and authorised by the director on 30 October 2025
 

......................................... Mr Neil Davies Director

Cartref Financial Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

1	General information

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

The address of its registered office is:
4a First Floor Heol Bryngwilli
Cross Hands
Llanelli
Carmarthenshire
SA14 6LR

These financial statements were authorised for issue by the director on 30 October 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

Cartref Financial Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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
Computer Equipment	33.3% On Cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	20% On Cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Cartref Financial Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

Cartref Financial Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

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 the director) during the year, was 5 (2024 - 6).

Cartref Financial Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 February 2024	9,100	9,100
At 31 January 2025	9,100	9,100
Amortisation
At 1 February 2024	9,100	9,100
At 31 January 2025	9,100	9,100
Carrying amount
At 31 January 2025	-	-

5	Tangible assets

	Computer Equipment  £	Total £
Cost or valuation
At 1 February 2024	23,418	23,418
Additions	342	342
At 31 January 2025	23,760	23,760
Depreciation
At 1 February 2024	19,864	19,864
Charge for the year	1,927	1,927
At 31 January 2025	21,791	21,791
Carrying amount
At 31 January 2025	1,969	1,969
At 31 January 2024	3,554	3,554

Cartref Financial Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

6

Debtors

Current	31 January 2025 £	31 January 2024 £
Trade debtors	28,786	27,466
Other debtors	26,500	25,000
	55,286	52,466

7

Creditors

Creditors: amounts falling due within one year

	Note	31 January 2025 £	31 January 2024 £
Due within one year
Bank loans and overdrafts		7,000	7,000
Trade creditors		135	1,189
Taxation and social security		341	2,222
Accruals and deferred income		5,645	2,840
Other creditors		18,087	7,905
		31,208	21,156

8	Share capital

Allotted, called up and fully paid shares

	31 January 2025		31 January 2024
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100
Ordinary A of £1 each	1	1	1	1
	101	101	101	101

Cartref Financial Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

9

Dividends

Interim dividends paid

		31 January 2025 £		31 January 2024 £
Interim dividend of £575.00 (2024 - £420.00) per each Ordinary		57,500		42,000
Interim dividend of £Nil per each Ordinary A		-		-
		57,500		42,000

10	Related party transactions

Transactions with the director

2025	At 1 February 2024 £	Repayments by director £	At 31 January 2025 £
Mr Neil Davies
Directors Loan Account	25,734	(25,734)	-

2024	At 1 February 2023 £	Advances to director £	Repayments by director £	At 31 January 2024 £
Mr Neil Davies
Directors Loan Account	12,870	-	12,864	-

Director's remuneration

The director's remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	12,570	11,908