ACCOUNTS - Final Accounts

CARAFRAN LIMITED - Company Information

Print Friendly Version

Registered number: 01917827

CARAFRAN LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 25 DECEMBER 2019

CARAFRAN LIMITED

REGISTERED NUMBER: 01917827

BALANCE SHEET

AS AT 25 DECEMBER 2019

		2019		2018
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	9,206		7,685
		9,206		7,685
Creditors: amounts falling due within one year	5	(1,769)		(1,645)
Net current assets			7,437		6,040
Total assets less current liabilities			7,437		6,040

Net assets			7,437		6,040

Capital and reserves
Called up share capital		10	10
Other reserves	6	2,000	2,000
Profit and loss account	6	5,427	4,030
		7,437	6,040

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 May 2020.

R.M. Wilkinson

Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

CARAFRAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 DECEMBER 2019

1.	General information

The company is a limited liability company, limited by shares and was incorporated in Wales. The
registered office address is :
Kingsridge House
601 London Road
Westcliff on sea
Essex. SS0 9PE
The company registered number is 01917827.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 2

CARAFRAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 DECEMBER 2019

2.Accounting policies (continued)

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 5 (2018 - 5).

Debtors

					2019	2018
					£	£


Other debtors	7,610	6,062
Prepayments	1,596	1,623
	9,206	7,685

5.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

Accruals and deferred income	1,769	1,645
	1,769	1,645

Reserves

Other reserves

Other reserves relates to the sinking fund.

7.	Related party transactions
	During the year the company entered into transactions with Gainsborough Court (Brentwood) Limited, a company under common control with Carafran Limited. Debtor £7,610 (2018 £6,062).

Page 3