CARO DEVELOPMENTS LTD

CARO DEVELOPMENTS LTD
Statement of Financial Position
As at 28 February 2026

	2026		2025
	£	£	£	£
Fixed assets		781,404		384,637
Current assets	173,619		155,286
Creditors: amount falling due within one year	-		(243)
Net current assets		173,619		155,043
Total assets less current liabilities		955,023		539,680
Creditors: amount falling due after more than one year		(984,531)		(543,899)
Net assets		(29,508)		(4,219)


Capital and reserves		(29,508)		(4,219)

NOTES TO THE ACCOUNTS

General Information

CARO DEVELOPMENTS LTD is a private company, limited by shares, registered in England and Wales, registration number 14685566, registration address 11 KINCROSS CLOSE, PARKLANDS , NORTHAMPTON, NN3 6BP.

The presentation currency is £ sterling.
These revised accounts replace the accounts for the year ended 28 February 2025 that were originally approved by the board and delivered to the Registrar of Companies. They are prepared under FRS 105 (the micro-entity regime) as at the date of the original accounts and are now the company's statutory accounts for that year, having been revised under section 454 of the Companies Act 2006 to correct the matters identified and set out in Note 4. The revisions are to the accounts as a whole.

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.

The financial statements are prepared in sterling which is the functional currency of the company.

Going concern basis

At 28 February 2025 the company had net liabilities of £4,219.50 (as restated) and was reliant on the continuing support of the director, who has confirmed he will not seek repayment so as to prejudice the company's ability to meet its other liabilities. On that basis the accounts are prepared on a going-concern basis.

Development expenditure

Development expenditure, named Other Direct Costs, is charged to the income statement in the period in which it is incurred.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Land (25% of the value of the other freehold property, a reasonable estimate) is not depreciated. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Buildings

2% Straight Line

Tangible fixed assets

Cost or valuation	Buildings	Total
	£	£
At 01 March 2025	390,000	390,000
Additions	-	-
Disposals	-	-
Transfers	402,617	402,617
At 28 February 2026	792,617	792,617
Depreciation
At 01 March 2025	5,363	5,363
Charge for year	5,850	5,850
On disposals	-	-
At 28 February 2026	11,213	11,213
Net book values
Closing balance as at 28 February 2026	781,404	781,404
Opening balance as at 01 March 2025	384,637	384,637

3.	Average number of employees Average number of employees during the period was 0 (2025 : 0).

4.	Director’s loan

Director's Loan Account

Interest-free, repayable after more than one year under a written agreement. The company was wholly self-funded by the director total funding £632,137, being £101 share capital and a loan of £632,036.43. The loan comprises £532,000 from his personal resources and £100,036.43 from his trust.

Nature and Effect of the Revisions

The original accounts have been revised in three respects:

(a) 133 Minstead Road (completed 5 April 2024) was recorded at £250,000; its cost was £390,000. Freehold property and the directors loan are each increased by £140,000, the further cost having been funded by the director. There is no effect on the result or on net assets.

(b) No depreciation had been provided. A charge of £5,362.50 is now made (2% straight-line on the buildings element for the eleven months from acquisition), reducing the result and net assets.

(c) The £25,000 shown as called-up share capital was not share capital the Companies House statement of capital shows only 101 shares of £1 (£101). It is reclassified to the directors loan, reducing equity and increasing the loan by £24,899 (net of the £101 of true share capital).

Effect on the result for the year:

Profit as originally reported 1,042.00

Depreciation now provided (5,362.50)

Loss for the year as restated (4,320.50)

Effect on net assets at 28 February 2025:

Net assets as originally reported 26,042.00

Depreciation now provided (5,362.50)

Reclassification of £25,000 from equity to the directors loan (24,899.00)

Net liabilities as restated (4,219.50)

For the year ended 28 February 2026 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.

The director acknowledges 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 financial statements were approved by the director on 28 July 2026 and were signed by:

--------------------------------
Michael Anthony Carolan
Director