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Company Registration No. 06383988 (England and Wales)
Carter Automotive Centres Limited Unaudited accounts for the year ended 31 May 2025
Carter Automotive Centres Limited Unaudited accounts Contents
Page
Statement of financial position
3
Notes to the accounts
4
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Carter Automotive Centres Limited Statement of financial position as at 31 May 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
503,949
504,640
Current assets
Inventories
151,655
150,655
Debtors
5
70,000
23,540
Cash at bank and in hand
12,470
45,427
234,125
219,622
Creditors: amounts falling due within one year
6
(183,816)
(174,054)
Net current assets
50,309
45,568
Net assets
554,258
550,208
Capital and reserves
Called up share capital
7
2
2
Profit and loss account
554,256
550,206
Shareholders' funds
554,258
550,208
For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 December 2025 and were signed on its behalf by
Craig Carter Director Company Registration No. 06383988
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Carter Automotive Centres Limited Notes to the Accounts for the year ended 31 May 2025
1
Statutory information
Carter Automotive Centres Limited is a private company, limited by shares, registered in England and Wales, registration number 06383988. The registered office is Homeleigh, Whatlington Road, Battle, East Sussex, TN33 0NA, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
reducing balance 20%
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. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
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Carter Automotive Centres Limited Notes to the Accounts for the year ended 31 May 2025
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Cost comprises direct materials and, where applicable, direct labour costs and those overheads which have been incurred in bringing the stocks to their present location and condition. 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 the profit and loss account. Reversal of impairment losses are also recognised in the profit and loss account.
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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, 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. 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, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.
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.
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Carter Automotive Centres Limited Notes to the Accounts for the year ended 31 May 2025
Taxation
The tax expense represents the sum of the tax currently payable and deferred 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 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. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 June 2024
498,763
12,109
510,872
At 31 May 2025
498,763
12,109
510,872
Depreciation
At 1 June 2024
-
6,232
6,232
Charge for the year
-
691
691
At 31 May 2025
-
6,923
6,923
Net book value
At 31 May 2025
498,763
5,186
503,949
At 31 May 2024
498,763
5,877
504,640
5
Debtors
2025
2024
£
£
Amounts falling due within one year
VAT
-
132
Other debtors
70,000
23,408
70,000
23,540
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Carter Automotive Centres Limited Notes to the Accounts for the year ended 31 May 2025
6
Creditors: amounts falling due within one year
2025
2024
£
£
Taxes and social security
681
5,621
Other creditors
5,449
3,158
Loans from directors
176,126
163,715
Accruals
1,560
1,560
183,816
174,054
7
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
8
Transactions with related parties
During the year, Nabbscott Business Centre Limited, a company in which Mr Craig Carter holds 50% of the issued share capital, repaid monies in the amount of £25,700 (2024 - £28,907). The amount payable to Nabbscott Business Centre Limited by the company at the year ended 31 May 2025 was £2,292 (2024 payable by Nabbscott - £23,408). The amount carries no interest and is repayable on demand.
9
Average number of employees
During the year the average number of employees was 1 (2024: 1).
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