Company registration number 07212673 (England and Wales)
CARRERA (UK) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
CARRERA (UK) LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
CARRERA (UK) LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr. G Mullineaux
Mrs. S Mullineaux
Mr. B Taylor
Secretary
Mrs. S Mullineaux
Company number
07212673
Registered office
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
Accountants
TC Group
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
CARRERA (UK) LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
189,750
181,301
Current assets
Stocks
-
4,428
Debtors
4
285,942
310,068
Cash at bank and in hand
29,174
28,508
315,116
343,004
Creditors: amounts falling due within one year
5
(131,259)
(146,761)
Net current assets
183,857
196,243
Total assets less current liabilities
373,607
377,544
Creditors: amounts falling due after more than one year
6
(5,833)
(15,833)
Provisions for liabilities
7
(12,691)
(10,579)
Net assets
355,083
351,132
Capital and reserves
Called up share capital
8
2
2
Profit and loss reserves
355,081
351,130
Total equity
355,083
351,132
CARRERA (UK) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
31 March 2025
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 28 November 2025 and are signed on its behalf by:
Mr. G Mullineaux
Director
Company Registration No. 07212673
The notes on pages 4 to 9 form part of these financial statements
CARRERA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
1
Accounting policies
Company information

Carrera (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Acorn Business Centre, Northarbour Road, Cosham, Portsmouth, Hampshire, PO6 3TH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
No depreciation
Plant and equipment
20% Reducing balance
Computers
20% Reducing balance
Motor vehicles
25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

CARRERA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

CARRERA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

CARRERA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 7 -
1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
12
15
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2024
138,985
137,798
276,783
Additions
-
0
18,039
18,039
At 31 March 2025
138,985
155,837
294,822
Depreciation and impairment
At 1 April 2024
-
0
95,482
95,482
Depreciation charged in the year
-
0
9,590
9,590
At 31 March 2025
-
0
105,072
105,072
Carrying amount
At 31 March 2025
138,985
50,765
189,750
At 31 March 2024
138,985
42,316
181,301
CARRERA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
103,015
122,587
Other debtors
182,927
187,481
285,942
310,068
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,000
10,000
Trade creditors
6,081
6,178
Taxation and social security
107,349
116,324
Other creditors
7,829
14,259
131,259
146,761
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
5,833
15,833
7
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
12,691
10,579
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Shares of 1p each
90
90
1
1
Ordinary B Shares of 1p each
90
90
1
1
Ordinary C Shares of 1p each
20
20
-
0
-
0
200
200
2
2
CARRERA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 9 -
9
Directors' transactions

The directors maintain loan accounts with the company. At the beginning of the year the directors owed the company £1 84,564. During the year, £179,448 was advanced to, and repayments were made totalling £188,436 by, the directors. Interest was charged at 2.25% totalling £4,435. At the balance sheet date the company was owed £180,011 by the directors.

2025-03-31 2024-04-01 false false false CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr. G Mullineaux Mr. B Taylor Mr. B Taylor Mrs. S Mullineaux 07212673 2024-04-01 2025-03-31 07212673 bus:Director1 2024-04-01 2025-03-31 07212673 bus:CompanySecretaryDirector1 2024-04-01 2025-03-31 07212673 bus:Director2 2024-04-01 2025-03-31 07212673 bus:CompanySecretary1 2024-04-01 2025-03-31 07212673 bus:Director3 2024-04-01 2025-03-31 07212673 bus:RegisteredOffice 2024-04-01 2025-03-31 07212673 2025-03-31 07212673 2024-03-31 07212673 core:LandBuildings 2025-03-31 07212673 core:OtherPropertyPlantEquipment 2025-03-31 07212673 core:LandBuildings 2024-03-31 07212673 core:OtherPropertyPlantEquipment 2024-03-31 07212673 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 07212673 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 07212673 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 07212673 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 07212673 core:CurrentFinancialInstruments 2025-03-31 07212673 core:CurrentFinancialInstruments 2024-03-31 07212673 core:ShareCapital 2025-03-31 07212673 core:ShareCapital 2024-03-31 07212673 core:RetainedEarningsAccumulatedLosses 2025-03-31 07212673 core:RetainedEarningsAccumulatedLosses 2024-03-31 07212673 core:ShareCapitalOrdinaryShareClass1 2025-03-31 07212673 core:ShareCapitalOrdinaryShareClass1 2024-03-31 07212673 core:ShareCapitalOrdinaryShareClass2 2025-03-31 07212673 core:ShareCapitalOrdinaryShareClass2 2024-03-31 07212673 core:ShareCapitalOrdinaryShareClass3 2025-03-31 07212673 core:ShareCapitalOrdinaryShareClass3 2024-03-31 07212673 core:ShareCapitalOrdinaryShares 2025-03-31 07212673 core:ShareCapitalOrdinaryShares 2024-03-31 07212673 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 07212673 core:PlantMachinery 2024-04-01 2025-03-31 07212673 core:ComputerEquipment 2024-04-01 2025-03-31 07212673 core:MotorVehicles 2024-04-01 2025-03-31 07212673 2023-04-01 2024-03-31 07212673 core:LandBuildings 2024-03-31 07212673 core:OtherPropertyPlantEquipment 2024-03-31 07212673 2024-03-31 07212673 core:LandBuildings 2024-04-01 2025-03-31 07212673 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 07212673 core:Non-currentFinancialInstruments 2025-03-31 07212673 core:Non-currentFinancialInstruments 2024-03-31 07212673 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 07212673 bus:OrdinaryShareClass2 2024-04-01 2025-03-31 07212673 bus:OrdinaryShareClass3 2024-04-01 2025-03-31 07212673 bus:OrdinaryShareClass1 2025-03-31 07212673 bus:OrdinaryShareClass1 2024-03-31 07212673 bus:OrdinaryShareClass2 2025-03-31 07212673 bus:OrdinaryShareClass2 2024-03-31 07212673 bus:OrdinaryShareClass3 2025-03-31 07212673 bus:OrdinaryShareClass3 2024-03-31 07212673 bus:AllOrdinaryShares 2025-03-31 07212673 bus:AllOrdinaryShares 2024-03-31 07212673 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 07212673 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 07212673 bus:FRS102 2024-04-01 2025-03-31 07212673 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 07212673 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP