Carter Bond Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Carter Bond Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09088441 . The registered office is 1 Bradburys Court, Lyon Road, Harrow, HA1 2BY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

20% straight line

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Carter Bond Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

2.5. Taxation

Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.6. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.7. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

2.8. Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

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Carter Bond Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

2.9. Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 28 (2024: 23)

4. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 July 2024	66,103
Additions	6,710

As at 30 June 2025	72,813

Depreciation
As at 1 July 2024	42,326
Provided during the period	11,604

As at 30 June 2025	53,930

Net Book Value
As at 30 June 2025	18,883

As at 1 July 2024	23,777

5. Stocks

	2025	2024
	£	£
Work in progress	27,070	53,074

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	708,244	608,299
Prepayments and accrued income	108,353	77,981
Other debtors	3,112,962	2,907,792
Directors' loan accounts	135,227	-

	4,064,786	3,594,072

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Carter Bond Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	151,615	63,541
Other taxes and social security	548,376	560,154
Accruals and deferred income	20,022	19,982

	720,013	643,677

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

9. Related Party Transactions

Directors Loan Account

These loans are free of interest and repayable on demand. The amount is included within other creditors/debtors.

Amount due to/(from) the related party: 2025: (£135,227) (2024: £0).

The Director's overdrawn loan account was repaid within 9 months of the company's accounting year end.

Cresco Surya Limited

A company in which Ms R D Popat is also a director and shareholder.

These loans are free of interest and repayable on demand. The amount is included within other debtors.

Amount due from the related party: 2025: £2,278,788 (2024: £2,278,788).

Dentons SIPP

A pension scheme in which the director is a beneficiary.

These loans are free of interest and repayable on demand. The amount is included within other debtors.

Amount due from the related party: 2025: £8,325 (2024: £43,543).

Cresco Estates 1 Ltd / Cresco Estates Management Ltd

Companies in which the directors and shareholders are also directors and shareholders.

These loans are free of interest and repayable on demand. The amount is included within other debtors.

Amount due from the related party: 2025: £825,848 (2024: £585,461).

10. Ultimate Controlling Party

Ms R D Popat is the controlling party by virtue of her beneficial ownership of 100% of the issued ordinary share capital in the company.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		18,883		23,777

			18,883		23,777
CURRENT ASSETS
Stocks	5	27,070		53,074
Debtors	6	4,064,786		3,594,072
Cash at bank and in hand		1,719,204		429,108

		5,811,060		4,076,254
Creditors: Amounts Falling Due Within One Year	7	(720,013 )		(643,677 )

NET CURRENT ASSETS (LIABILITIES)			5,091,047		3,432,577

TOTAL ASSETS LESS CURRENT LIABILITIES			5,109,930		3,456,354

PROVISIONS FOR LIABILITIES
Deferred Taxation			(4,721 )		(5,944 )

NET ASSETS			5,105,209		3,450,410

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			5,105,109		3,450,310

SHAREHOLDERS' FUNDS			5,105,209		3,450,410