Carpo (Knightsbridge) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09629931 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2019 TO 31 DECEMBER 2019

FOR

CARPO (KNIGHTSBRIDGE) LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr K Kontopoulos

REGISTERED OFFICE:

1 Kings Avenue

London

N21 3NA

REGISTERED NUMBER:

09629931 (England and Wales)

ACCOUNTANTS:

AGK Partners

Chartered Accountants

1 Kings Avenue

London

N21 3NA

FIXED ASSETS

Property, plant and equipment

4

175,140

141,147

CURRENT ASSETS

Inventories

98,343

99,843

Debtors

5

135,031

161,972

Cash at bank and in hand

72,477

43,879

305,851

305,694

CREDITORS

Amounts falling due within one year

6

408,312

379,976

NET CURRENT LIABILITIES

(102,461

)

(74,282

)

TOTAL ASSETS LESS CURRENT LIABILITIES

72,679

66,865

PROVISIONS FOR LIABILITIES

7

23,848

26,818

NET ASSETS

48,831

40,047

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

48,830

40,046

SHAREHOLDERS' FUNDS

48,831

40,047

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

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

The director acknowledges his 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 director and authorised for issue on 23 December 2020 and were signed by:

Mr K Kontopoulos - Director

1.	STATUTORY INFORMATION

Carpo (Knightsbridge) Ltd 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.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates

and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other

sources.The estimates and associated assumptions are based on historical experience and other factors that

are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised where the revision affects only that period

or in the period of the revision and future periods where the revision affects both current and future

periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue

Revenue represents the value, net of value added tax and discounts, of goods provided to customers and is

recognised when the risks and rewards of ownership have been transferred.

Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment

losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances

indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful

lives.

Short Leasehold 20% on reducing balance

Plant and machinery 25% on reducing balance

Inventories

Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is

determined using the first in first out method. The carrying amount of inventory sold is recognised as an expense

in the period in which the related revenue is recognised.

Taxation

Taxation for the period 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 period 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.

Foreign currencies

Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets

and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance

sheet date. All differences are taken to the profit and loss account.

Hire purchase and leasing commitments

Assets financed under finance leases and similar arrangements such as hire purchase contracts, are capitalised

in the balance sheet and depreciated over their useful economic lives.

The interest element of payments under such arrangements is charged to the profit and loss account so as to

give a periodic charge commensurate with the balance outstanding.

Rentals paid under operating leases are charged to the profit and loss account as they fall due.

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.

Cash and cash equivalent

Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand and short

term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly

liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant

risk of changes in value.

Financial instruments

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

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

or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised

in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 23 (2019 - 24 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Short

Plant and

leasehold

machinery

Totals

£

£

£

COST

At 1 July 2019

73,689

152,137

225,826

Additions

-

50,377

50,377

At 31 December 2019

73,689

202,514

276,203

DEPRECIATION

At 1 July 2019

23,326

61,353

84,679

Charge for period

5,036

11,348

16,384

At 31 December 2019

28,362

72,701

101,063

NET BOOK VALUE

At 31 December 2019

45,327

129,813

175,140

At 30 June 2019

50,363

90,784

141,147

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2019

£

£

Trade debtors

2,340

1,322

Other debtors

132,691

160,650

135,031

161,972

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2019

£

£

Trade creditors

60,772

146,785

Amounts owed to group undertakings

263,993

144,732

Taxation and social security

72,807

60,526

Other creditors

10,740

27,933

408,312

379,976

7.	PROVISIONS FOR LIABILITIES

2019

2019

£

£

Deferred tax

23,848

26,818

Deferred

tax

£

Balance at 1 July 2019

26,818

Provided during period

(2,970

)

Balance at 31 December 2019

23,848

8.	OTHER FINANCIAL COMMITMENTS

The company has annual commitments of £97,500 (2018: £97,500) under non-cancellable operating leases for

the next five years.

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Included within other debtors is an amount of £36,036 (June 2019: £36,036) owed to a connected company. This

amount is interest free and repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is London Premium Products Ltd, whose registered office is 1 Kings Avenue,

London, N21 3NA. It's principal place of business is 16 Piccadilly, London, W1J 0DE.