| |
|
2025 |
|
2024 |
| |
|
£ |
£ |
|
£ |
£ |
| Fixed assets |
|
|
170,050 |
|
|
0 |
| Current assets |
|
316,726 |
|
|
398,810 |
|
| Creditors: amount falling due within one year |
|
(492,285) |
|
|
(405,530) |
|
|
Net current assets
|
|
|
(175,559)
|
|
|
(6,720)
|
|
Total assets less current liabilities
|
|
|
(5,509) |
|
|
(6,720) |
|
Net assets
|
|
|
(5,509) |
|
|
(6,720) |
| |
|
|
|
|
|
|
|
Capital and reserves
|
|
|
(5,509) |
|
|
(6,720) |
| |
NOTES TO THE ACCOUNTS
General Information
Carmax International Property Ltd is a private company, limited by shares, registered in England and Wales, registration number 14884547, registration address 26 Worple way, Harrow, England, HA2 9SP.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation
of land and buildings and certain financial instruments measured at fair value in accordance with the accounting
policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
Since the net assets are minus as of the reporting date, the directors confirm that they are willing to invest more money into the company where necessary. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company's liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
|
| 2. |
Average number of employees
Average number of employees during the year was 2 (2024 : 2).
|
For the year ended 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts.
The financial statements were approved by the board of directors on 26 May 2026 and were signed on its behalf by: --------------------------------
Jayamaha Hitihamilage Manjula Priyantha
Director |
1
|