Carbon Statement Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07847581 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2019

FOR

CARBON STATEMENT LTD

Page

Company Information

1

Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

M L Chapman

P H Beadle

REGISTERED OFFICE:

57 London Road

High Wycombe

Buckinghamshire

HP11 1BS

REGISTERED NUMBER:

07847581 (England and Wales)

ACCOUNTANTS:

Seymour Taylor Audit Limited

57 London Road

High Wycombe

Buckinghamshire

HP11 1BS

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 Statement of Financial Position. 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 Carbon Statement Ltd for the year ended 30 November 2019 which comprise the

Income Statement, Statement of Financial Position, 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 Carbon Statement Ltd, 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 Carbon Statement Ltd and state those matters that we have agreed to state to the Board of Directors of Carbon Statement Ltd, 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 Carbon Statement Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Carbon Statement Ltd 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 Carbon Statement Ltd. You consider that Carbon Statement Ltd 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 Carbon Statement Ltd. 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.

Seymour Taylor Audit Limited

57 London Road

High Wycombe

Buckinghamshire

HP11 1BS

6 August 2020

FIXED ASSETS

Tangible assets

4

672

10,520

CURRENT ASSETS

Debtors

5

182,340

126,248

Cash at bank

67,395

51,467

249,735

177,715

CREDITORS

Amounts falling due within one year

6

165,192

83,759

NET CURRENT ASSETS

84,543

93,956

TOTAL ASSETS LESS CURRENT LIABILITIES

85,215

104,476

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

85,115

104,376

SHAREHOLDERS' FUNDS

85,215

104,476

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 and authorised for issue on 6 August 2020 and were signed on its behalf by:

M L Chapman - Director

1.	STATUTORY INFORMATION

Carbon Statement Limited is a private company, limited by shares and incorporated in England and

Wales. The registered office is 57 London Road, High Wycombe, Buckinghamshire, HP11 1BS. The

principal place of business is 1-5 Market Place Mews, Henley-on-Thames, RG9 2AH. The company

registration number is 07847581.

The presentational currency of these financial statements is Sterling (£), being the currency of the

primary economic environment in which the company operates (its functional currency). All amounts in

the financial statements have been rounded to the nearest pound unless otherwise stated.

The significant accounting policies applied in the preparation of these financial statements are set out

below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

In light of the rapid global spread of the Coronavirus "COVID-19" in early 2020, the directors have

reviewed projections and budgets for the next twelve months. Following this review, the directors

consider there to be a potentially material impact on the company's ability to continue as a going

concern.

Given the uncertainty and continued development of COVID-19, there is doubt as to when the

company will be able to fully return to normal trading conditions. Further details can be seen in the

"Events after the reporting period" note to the financial statements.

The directors will monitor performance closely to identify whether any further action becomes

necessary to protect the business. Based on the above and information available to the directors at the

date of approval, the company continues to adopt the going concern basis in preparing these financial

statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, for services

provided, net of value added tax.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment

losses.

The company assesses at each reporting date whether tangible fixed assets are impaired.

Depreciation is provided at the following annual rates in order to write off the cost less estimated

residual value of each asset over its estimated useful life:

Plant and machinery - straight line - 25% and 33%

Depreciation methods, useful lives and residual values are reviewing if there is an indication of a

significant change since the last annual reporting date in the pattern by which the company expects to

consume an asset's future economic benefits.

Financial instruments

The company has applied the provisions of Section 11 "Basic Financial Instruments" and Section 12

"Other Financial Instrument Issues" of FRS 102 to its financial statements.

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument

is any contract that evidences a residual interest in the assets of the company after deducting all of its

liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a

similar debt instrument, those financial instruments are classed as financial liabilities. Financial

liabilities are presented as such in the statement of financial position. Finance costs and gains or

losses relating to financial liabilities are included in the income statement. Finance costs are calculated

so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a

financial liability then this is classed as an equity instrument. Dividends and distributions relating to

equity instruments are debited direct to equity.

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 statement of financial position date.

Deferred tax

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

the statement of financial position 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2018

47,776

Additions

733

Disposals

(2,790

)

At 30 November 2019

45,719

DEPRECIATION

At 1 December 2018

37,256

Charge for year

9,422

Eliminated on disposal

(1,631

)

At 30 November 2019

45,047

NET BOOK VALUE

At 30 November 2019

672

At 30 November 2018

10,520

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

179,511

124,500

Other debtors

2,829

1,748

182,340

126,248

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

29,525

-

Taxation and social security

56,588

62,122

Other creditors

79,079

21,637

165,192

83,759

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

NIL

Ordinary

£1

-

100

30

A Ordinary

£1

30

-

3

B Ordinary

£1

3

-

37

C Ordinary

£1

37

-

30

D Ordinary

£1

30

-

100

100

8.	POST BALANCE SHEET EVENTS

Since the reporting date, the growth of the COVID-19 pandemic across the world has led to some

doubts as to whether the company can continue as a going concern for the next twelve months.

Due to the nature of the business, there has been an impact on both the company's ability to trade with

customers who are also facing difficulties at this time due to closure of non-essential work and retail.

As a consequence, the performance of the company has been significantly impacted in the first half of

the current financial year (2020). This has impacted cash flows due to the majority of customers also

being in a similar position at this time.

It is currently uncertain as to when the company will return to normal trading and may need to seek

additional working capital in order to be able to continue as a going concern over the next twelve

months. The level of funding required is also dependant on the continued impact of the COVID-19

pandemic.