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

REGISTERED NUMBER: 03753779 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2020

for

Carbonomics Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A P Holmes

SECRETARY:

M Coatsworth

REGISTERED OFFICE:

Lynx House

Mansfield Road

Sheffield

South Yorkshire

S26 2BS

REGISTERED NUMBER:

03753779 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,870,298

1,924,722

1,870,298

1,924,722

CURRENT ASSETS

Stocks

151,737

153,846

Debtors

6

1,131,978

1,024,431

Cash at bank

2,175,958

1,647,505

3,459,673

2,825,782

CREDITORS

Amounts falling due within one year

7

411,527

451,663

NET CURRENT ASSETS

3,048,146

2,374,119

TOTAL ASSETS LESS CURRENT LIABILITIES

4,918,444

4,298,841

PROVISIONS FOR LIABILITIES

16,673

56,028

NET ASSETS

4,901,771

4,242,813

CAPITAL AND RESERVES

Called up share capital

70

70

Retained earnings

4,901,701

4,242,743

SHAREHOLDERS' FUNDS

4,901,771

4,242,813

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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 22 August 2020 and were signed by:

A P Holmes - Director

1.	STATUTORY INFORMATION

Carbonomics 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less accumulated amortisation. Intangible assets are expected to have a useful economic life of four years.

Tangible fixed assets

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

Freehold property

-

not provided

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2019 - 46 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 May 2019

and 30 April 2020

839,280

AMORTISATION

At 1 May 2019

and 30 April 2020

839,280

NET BOOK VALUE

At 30 April 2020

-

At 30 April 2019

-

The intangible assets refer to the cost of securing an exclusive territorial sales agreement in the USA for the supply of products made and supplied by the company. At the balance sheet date, this company is insolvent and as a a consequence the cost of the investment has been written off in full.

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 May 2019

1,078,440

2,349,111

3,427,551

Additions

-

144,533

144,533

Revaluation adjustment

(29,440

)

-

(29,440

)

At 30 April 2020

1,049,000

2,493,644

3,542,644

DEPRECIATION

At 1 May 2019

-

1,502,829

1,502,829

Charge for year

-

169,517

169,517

At 30 April 2020

-

1,672,346

1,672,346

NET BOOK VALUE

At 30 April 2020

1,049,000

821,298

1,870,298

At 30 April 2019

1,078,440

846,282

1,924,722

The freehold premises were professionally valued by Mark Jenkinson & Son on 12 June 2013.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade debtors

1,065,936

1,003,729

Other debtors

66,042

20,702

1,131,978

1,024,431

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade creditors

131,361

193,419

Taxation and social security

228,473

212,921

Other creditors

51,693

45,323

411,527

451,663