Carnwethers Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Carnwethers Ltd

Company Information

Director

Mrs RCE Knowles

Registered office

Carnwethers Pelistry Bay St Mary's Isles of Scilly TR21 0NX

Accountants

Michael J Emery & Co Limited Chartered Accountants22 St. John Street Newport Pagnell Buckinghamshire MK16 8HJ

Carnwethers Ltd

(Registration number: 10648578)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	87,523	85,164
Current assets
Debtors	5	89,479	110,257
Cash at bank and in hand		37,700	32,374
		127,179	142,631
Creditors: Amounts falling due within one year	6	(142,663)	(141,048)
Net current (liabilities)/assets		(15,484)	1,583
Total assets less current liabilities		72,039	86,747
Provisions for liabilities		(15,041)	(11,512)
Net assets		56,998	75,235
Capital and reserves
Called up share capital		100	100
Retained earnings		56,898	75,135
Shareholders' funds		56,998	75,235

For the financial year ending 31 March 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 her 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 and 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.

Approved and authorised by the director on 23 December 2025
 

......................................... Mrs RCE Knowles Director

Carnwethers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
Carnwethers
Pelistry Bay
St Mary's
Isles of Scilly
TR21 0NX

These financial statements were authorised for issue by the director on 23 December 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.

Turnover

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.

Tax

The tax expense for the period comprises current and deferred 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.

Carnwethers Ltd

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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
Fixtures and fittings	10% on cost
Property improvements	10% on cost
Office equipment	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.

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.

Carnwethers Ltd

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

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.

3	Staff numbers

The average number of persons employed by the company during the year, including the director, was 1 (2024 - 1).

4	Tangible assets

	Property Improvements £	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
At 1 April 2024	26,416	81,533	2,422	110,371
Additions	12,737	1,601	-	14,338
At 31 March 2025	39,153	83,134	2,422	124,709
Depreciation
At 1 April 2024	1,875	21,965	1,367	25,207
Charge for the year	2,713	8,782	484	11,979
At 31 March 2025	4,588	30,747	1,851	37,186
Carrying amount
At 31 March 2025	34,565	52,387	571	87,523
At 31 March 2024	24,541	59,568	1,055	85,164

Carnwethers Ltd

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

5

Debtors

Current	2025 £	2024 £
Trade debtors	88,298	109,085
Prepayments	1,180	1,171
Other debtors	1	1
	89,479	110,257

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	6,704	6,238
Taxation and social security	11,026	13,301
Accruals and deferred income	1,170	1,134
Other creditors	123,763	120,375
	142,663	141,048