Carpenters Real Estate Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07240837 (England and Wales)

CARPENTERS REAL ESTATE LIMITED

Unaudited Financial Statements for the Year Ended 31 March 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

Mrs E L Jaehme

M P Jaehme

C R Jaehme

REGISTERED OFFICE:

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

REGISTERED NUMBER:

07240837 (England and Wales)

ACCOUNTANTS:

Lancaster Haskins Limited

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

FIXED ASSETS

Tangible assets

3

1,290

1,434

CURRENT ASSETS

Stocks

616,416

993,935

Debtors

4

553

1,170

Cash at bank

5,362

141

622,331

995,246

CREDITORS

Amounts falling due within one year

5

522,208

1,039,002

NET CURRENT ASSETS/(LIABILITIES)

100,123

(43,756

)

TOTAL ASSETS LESS CURRENT LIABILITIES

101,413

(42,322

)

CREDITORS

Amounts falling due after more than one year

6

210,485

62,485

NET LIABILITIES

(109,072

)

(104,807

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

8

(109,172

)

(104,907

)

SHAREHOLDERS' FUNDS

(109,072

)

(104,807

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 19 December 2019 and were signed on its behalf by:

Mrs E L Jaehme - Director

1.	STATUTORY INFORMATION

Carpenters Real Estate Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from the standard.

Turnover

Turnover is recognised in line with the work performed.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

2% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern

The financial statements have been prepared on the going concern basis which assumes continued support from

the directors.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible

preference shares or non-puttable ordinary shares which are measured at fair value with changes recognised in

profit or loss. Derivative financial insurgents are initially recorded at cost and thereafter at fair value with

changes recognised in profit or loss.

3.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 April 2018

and 31 March 2019

3,295

991

4,286

DEPRECIATION

At 1 April 2018

1,861

991

2,852

Charge for year

144

-

144

At 31 March 2019

2,005

991

2,996

NET BOOK VALUE

At 31 March 2019

1,290

-

1,290

At 31 March 2018

1,434

-

1,434

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Amounts owed by participating interests

553

-

Other debtors

-

1,170

553

1,170

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans and overdrafts

-

487,000

Other loans

40,000

41,000

Amounts owed to participating interests

48,500

-

VAT

406

-

Other creditors

50

50

Directors' current accounts

430,852

508,952

Accruals and deferred income

2,400

2,000

522,208

1,039,002

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans - 1-2 years

210,485

62,485

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

31.3.18

£

£

Bank loans

210,485

549,485

The following securities are held:

Fixed and floating legal charge dated 13 July 2017 over the freehold property known as 7 Wightman Road,

London, N4 1RQ and a floating charge over all the property of the company.

8.

RESERVES

Retained

earnings

£

At 1 April 2018

(104,907

)

Deficit for the year

(4,265

)

At 31 March 2019

(109,172

)

9.	ULTIMATE CONTROLLING PARTY

Mrs E L Jaehme is the ultimate controlling party by virtue of her holding 66% of the issued share capital

10.	GOING CONCERN

The directors have considered the period ending 12 months after approving these financial statements.

They are prepared to fully support the company financially, and their loan will not be withdrawn to the detriment

of the other creditors.For these reason, the directors continue to adopt the going concern basis of accounting in

preparing these financial statements.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Carpenters Real Estate Limited for the year ended 31 March 2019 which comprise the Income

Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records

and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Carpenters Real Estate Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Carpenters Real Estate Limited and state those matters that we have agreed to state to the Board of Directors of Carpenters Real Estate Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Carpenters Real Estate Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Carpenters Real Estate Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Carpenters Real Estate Limited. You consider that Carpenters Real Estate Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Carpenters Real Estate Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lancaster Haskins Limited

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

19 December 2019