REGISTERED NUMBER: SC632226 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

FOR

CARRICK 2020 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S B Brodie

REGISTERED OFFICE:

9 New Road

AYR

KA8 8DA

REGISTERED NUMBER:

SC632226 (Scotland)

ACCOUNTANTS:

Bannerman Johnstone Maclay

213 St Vincent Street

Glasgow

G2 5QY

BANKERS:

Virgin Money

43 Alloway Street

Ayr

KA7 1SP

FIXED ASSETS

Investments

4

8,131,318

8,074,328

CURRENT ASSETS

Debtors

5

-

33,000

Cash at bank

123,158

129,284

123,158

162,284

CREDITORS

Amounts falling due within one year

6

2,007,127

2,055,159

NET CURRENT LIABILITIES

(1,883,969

)

(1,892,875

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,247,349

6,181,453

CAPITAL AND RESERVES

Called up share capital

100

100

Share premium

5,999,900

5,999,900

Retained earnings

247,349

181,453

6,247,349

6,181,453

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 December 2025 and were signed by:

S B Brodie - Director

1.	STATUTORY INFORMATION

Carrick 2020 Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern

Notwithstanding the net current liabilities the director believes it is appropriate for the financial statements to be prepared on the going concern basis.

The shareholders have confirmed that the loans will not be recalled for repayment until the company is in a financial position to repay the loans. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

In terms of the listed investments held by the company, there are inevitably inherent uncertainties in the foreseeable future and there can be no certainty in relation to investments made by the company, the director believes that the company's financial statements should be prepared on the going concern basis.

Preparation of consolidated financial statements

The financial statements contain information about Carrick 2020 Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 certain debtors and cash and bank balances, are initially measured at transaction price including transactions 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 certain creditors, 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 payments 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	FIXED ASSET INVESTMENTS

2025

2024

£

£

Shares in group undertakings

-

100

Other investments not loans

8,131,318

8,074,228

8,131,318

8,074,328

Additional information is as follows:

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST OR VALUATION

At 6 April 2024

100

7,067,554

7,067,654

Additions

-

246,363

246,363

Disposals

(100

)

(220,476

)

(220,576

)

Revaluations

-

(76,047

)

(76,047

)

At 5 April 2025

-

7,017,394

7,017,394

NET BOOK VALUE

At 5 April 2025

-

7,017,394

7,017,394

At 5 April 2024

100

7,067,554

7,067,654

Cost or valuation at 5 April 2025 is represented by:

Other

investments

£

Valuation in 2025

(76,047

)

Cost

7,093,441

7,017,394

Investments (neither listed nor unlisted) were as follows:

2025

2024

£

£

Other fixed asset investments

1,113,924

1,006,674

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

-

33,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

2,815

3,076

Other creditors

2,004,312

2,052,083

2,007,127

2,055,159

7.	RELATED PARTY DISCLOSURES

As at 5 April 2025, an amount of £1,612 (2024: £49,483) was owed to the director of the company.

During 2019, the director loaned £2,000,000 to the company which was interest free and repayable on demand. The loan note was then gifted in equal parts to close family members and shareholders of the company, and remains outstanding at the reporting date.