Carrain Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01659313 (England and Wales)

Financial Statements for the Year Ended 31 March 2019

for

Carrain Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mrs O M Herman

C R Herman

Mrs J D Burton

Mrs R C Gelbart

P P Herman

SECRETARY:

Mrs O M Herman

REGISTERED OFFICE:

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

REGISTERED NUMBER:

01659313 (England and Wales)

ACCOUNTANTS:

BBK Partnership

Chartered Accountants

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

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 Carrain Limited for the year ended 31 March 2019 which comprise the Income Statement,

Balance Sheet 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 Carrain 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 Carrain Limited and state those matters that we have agreed to state to the Board of Directors of Carrain 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 Carrain Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Carrain 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 profit of Carrain Limited. You consider that Carrain 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 Carrain 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.

BBK Partnership

Chartered Accountants

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

Date: .............................................

FIXED ASSETS

Tangible assets

4

739

985

Investment property

5

12,950,000

12,950,000

12,950,739

12,950,985

CURRENT ASSETS

Debtors

6

62,656

67,094

Cash at bank and in hand

727,794

834,930

790,450

902,024

CREDITORS

Amounts falling due within one year

7

2,162,550

2,516,497

NET CURRENT LIABILITIES

(1,372,100

)

(1,614,473

)

TOTAL ASSETS LESS CURRENT LIABILITIES

11,578,639

11,336,512

CREDITORS

Amounts falling due after more than one year

8

2,125,571

2,125,571

NET ASSETS

9,453,068

9,210,941

CAPITAL AND RESERVES

Called up share capital

100

100

Capital redemption reserve

73,893

73,893

Retained earnings

9,379,075

9,136,948

SHAREHOLDERS' FUNDS

9,453,068

9,210,941

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 27 January 2020 and were signed on its behalf by:

C R Herman - Director

Mrs O M Herman - Director

1.	STATUTORY INFORMATION

Carrain 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2018

and 31 March 2019

7,338

12,031

19,369

DEPRECIATION

At 1 April 2018

7,256

11,128

18,384

Charge for year

20

226

246

At 31 March 2019

7,276

11,354

18,630

NET BOOK VALUE

At 31 March 2019

62

677

739

At 31 March 2018

82

903

985

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2018

and 31 March 2019

12,950,000

NET BOOK VALUE

At 31 March 2019

12,950,000

At 31 March 2018

12,950,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

18,712

8,474

Deposits held

43,944

58,620

62,656

67,094

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

5,486

18,996

Amounts owed to participating interests

1,986,460

2,124,754

Taxation and social security

105,922

88,413

Other creditors

64,682

284,334

2,162,550

2,516,497

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Taxation and social security

2,125,571

2,125,571

9.	NON DISTRIBUTABLE RESERVES

The accumulated Profit and Loss account includes £8,555,091 that relates to the net of tax gain, on the

revaluation of the Investment Properties. This element of the reserves is not distributable.