Registration number: 05932418

Carrera Engineering Services Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 6

Carrera Engineering Services Limited

(Registration number: 05932418)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	101,286	99,458
Current assets
Stocks	5	141,975	129,927
Debtors	6	507,548	524,001
Cash at bank and in hand		688,778	278,948
		1,338,301	932,876
Creditors: Amounts falling due within one year	7	(767,395)	(347,492)
Net current assets		570,906	585,384
Total assets less current liabilities		672,192	684,842
Creditors: Amounts falling due after more than one year	7	(35,825)	(57,508)
Provisions for liabilities		(25,321)	(23,870)
Net assets		611,046	603,464
Capital and reserves
Called up share capital		1,253	1,253
Other reserves		33,295	-
Retained earnings		576,498	602,211
Shareholders' funds		611,046	603,464

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.

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; and
•	The Directors acknowledge their 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 Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 September 2025 and signed on its behalf by:
 

......................................... G Baslington Director

Carrera Engineering Services Limited

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:
Carrera House
Thorold Street
Grimsby
DN31 3AL

These financial statements were authorised for issue by the Board on 3 September 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.

The financial statements have been prepared for the individual entity and are presented in sterling and rounded to the nearest pound.

Revenue recognition

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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Carrera Engineering Services Limited

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

Tangible assets

Tangible assets are stated in the statement of financial position 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
Plant and machinery	20% straight line
Motor vehicles	20% straight line
Computer equipment	20% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Carrera Engineering Services Limited

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

3	Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 25 (2024 - 24).

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	246,894	130,823	377,717
Revaluations	34,431	12	34,443
Additions	5,338	-	5,338
Disposals	(185,269)	(15,695)	(200,964)
At 31 March 2025	101,394	115,140	216,534
Depreciation
At 1 April 2024	213,101	65,158	278,259
Charge for the year	14,666	15,934	30,600
Eliminated on disposal	(185,269)	(9,490)	(194,759)
Impairment	1,148	-	1,148
At 31 March 2025	43,646	71,602	115,248
Carrying amount
At 31 March 2025	57,748	43,538	101,286
At 31 March 2024	33,793	65,665	99,458

Revaluation

The fair value of the Company's plant and machinery was revalued on 28 February 2025. An independent valuer was not involved. .
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £17,015 (2024 - £25,662).

5

Stocks

	2025 £	2024 £
Work in progress	103,354	106,189
Other inventories	38,621	23,738
	141,975	129,927

Carrera Engineering Services Limited

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

6

Debtors

Current	2025 £	2024 £
Trade debtors	400,807	483,525
Prepayments	51,615	31,937
Other debtors	55,126	8,539
	507,548	524,001

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	370,274	25,824
Trade creditors		168,046	137,014
Taxation and social security		109,872	138,608
Accruals and deferred income		18,965	44,192
Other creditors		100,238	1,854
		767,395	347,492

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	21,425	43,108
Other financial liabilities		14,400	14,400
		35,825	57,508

	2025 £	2024 £
Due after more than five years
	-	-

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

	Other reserves £	Total £
Surplus/deficit on property, plant and equipment revaluation	33,295	33,295

Carrera Engineering Services Limited

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

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	3,283	13,333
Hire purchase contracts	18,142	29,775
	21,425	43,108

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	10,648	10,000
Hire purchase contracts	10,544	15,824
Other borrowings	349,082	-
	370,274	25,824