1.
General Information
Carrs Court Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
03047546
. The registered office is Unit 3 Wellesbourne Distribution Park Loxley Road, Wellesbourne, Warwick, CV35 9JY.
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.
Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3.
Turnover
Turnover comprises amounts receivable in respect of services provided. Income is recognised in the period when the service is provided. The service charge income for the year must agree to the budgeted Fund For Future Maintenance contribution in the year (as set by an external surveyor and agreed with the Board of Directors). Any additional surplus over the contribution budget will be due back to the owners and any deficit under the contribution budget must be made good by the owners and is recognised in the period it relates to.
2.4.
Stocks and Work in Progress
Stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.5.
Financial Instruments
2.5.
Financial Instruments - continued
Classification
The following assets and liabilities are classified as financial instruments - trade debtors and trade creditors and other debtors and other creditors.
Trade Debtors
Trade debtors are amounts due from owners for 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.
...CONTINUED
Carrs Court Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
Trade Creditors
Trade creditors are obligations to pay for goods and 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.
Allocation of surpluses and deficits
Ownership at Financial Year End
Any surplus or deficit arising during the financial year is allocated to the registered leaseholder as at the financial year end and is expected to be paid or repaid within 30 days of the accounts AGM date.
Change of Ownership During the Financial Year
Where a change in ownership occurs during the financial year, any surplus or deficit for that year is apportioned between the outgoing and incoming leaseholders on a time basis, having regard to the period of ownership.
Change of Ownership After the Year End
Where ownership changes after the financial year end, but before any distribution or recovery of surpluses or deficits, the entitlement or liability remains with the leaseholder on record at the financial year end.
Uncontactable Former Owners
In circumstances where a surplus/deficit is due to/from a former leaseholder who has since disposed of the lease and cannot be located, the amount shall be transferred to the Fund for Future Maintenance.
New Owners
A leaseholder who acquired an apartment after the financial year end are not entitled to surpluses nor liable for deficits relating to that financial year. Such leaseholders are subject only to surpluses or deficits arising in subsequent financial years during which they hold ownership of the lease.
Recognition and measurement
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.
Carrs Court Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
2.6.
Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable income 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.
Current tax is recognised in the income statement for the year, except when they relate to items that are recognised in other comprehensive income.
2.7.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2.8.
Investments
Listed investments in shares are included at market value. Unlisted investments in shares are included at cost less impairment. Dividends received are included in the income statement, as received.
2.9.
Employee benefits
Short-term employee benefits, including holiday pay, are recognised as an expense in the income statement in the period in which they are incurred.
2.10.
Fund for Future Maintenance
The company has an obligation to the owners to set aside such sums of money as the company shall reasonably require to meet such future costs as it shall reasonably expect to incur in replacing, maintaining and renewing those items which it has covenanted to replace, maintain or renew as required by the lease agreement in place with the leaseholders. The Fund for Future Maintenance contribution budget for the period is transferred to the Fund for Future Maintenance for these future costs to be expended from.
Carrs Court Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2025: 17)
4.
Investments
| Other | |
|---|---|
| £ | |
| Cost or Valuation | |
| As at 1 April 2025 |
|
| Revaluations |
( |
| As at 31 March 2026 |
|
| Provision | |
| As at 1 April 2025 |
|
| Disposals |
|
| As at 31 March 2026 |
|
| Net Book Value | |
| As at 31 March 2026 |
|
| As at 1 April 2025 |
|
5.
Stocks
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Stock |
|
|
|
6.
Debtors
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Prepayments and accrued income |
|
|
|
| Other debtors |
|
|
|
|
|
|
||
Carrs Court Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
7.
Creditors: Amounts Falling Due Within One Year
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Corporation tax |
|
|
|
| Other taxes and social security |
|
|
|
| Other creditors |
|
|
|
| Surplus account |
|
|
|
| Fund for Future Maintenance |
|
|
|
| Accruals and deferred income |
|
|
|
|
|
|
||
|
Fund For Future Maintenance
|
2026
|
2025
|
|
|
£
|
£
|
||
|
Opening balance
|
310,376
|
286,054
|
|
|
Transfer of prior year surplus
|
-
|
-8,550
|
|
|
Transfer of creditor written off
|
-
|
3,624
|
|
|
Surplus for the year
|
87,240
|
85,782
|
|
|
Expenditure
|
-207,404
|
-56,534
|
|
|
2024 and 2025 surpluses not considered payable
|
1,299
|
-
|
|
|
Revaluation element of investment as of 2022
|
4,288
|
-
|
|
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
|
||
|
195,799
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
310,376
|
9.
Capital Commitments
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| At the end of the period | - |
|
|
As at 31st March 2025, the company had capital commitments contracted for but not provided in these financial statements
Carrs Court Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
10.
FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
11.
Audit Information
The auditor's report on the accounts of
Carrs Court Limited
for the year ended 31 March 2026 was unqualified.
The auditor's report was signed by
Mrs Lisa Jane Bean FCCA
(Senior Statutory Auditor)
for and on behalf of
Pennington Williams Limited
, Statutory Auditor.
|
Chartered Certified Accountants
Stanhope House
Mark Rake, Bromborough
Wirral
CH62 2DN
|