Carlton Technologies Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03452530 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

CARLTON TECHNOLOGIES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

5

DIRECTORS:

R J Crampton

M R Crampton

Mrs M Crampton

SECRETARY:

Mrs M Crampton

REGISTERED OFFICE:

Unit 4

Church View Business Park

Coney Green Road

Chesterfield

Derbyshire

S45 9HA

REGISTERED NUMBER:

03452530 (England and Wales)

ACCOUNTANTS:

Mills & Black

Derwent House

141-145 Dale Road

Matlock

Derbyshire

DE4 3LU

FIXED ASSETS

Tangible assets

4

1,063,126

851,750

CURRENT ASSETS

Stocks

480,442

478,000

Debtors

596,382

739,834

Cash at bank and in hand

14,240

1,204

1,091,064

1,219,038

CREDITORS

Amounts falling due within one year

1,005,820

1,093,626

NET CURRENT ASSETS

85,244

125,412

TOTAL ASSETS LESS CURRENT LIABILITIES

1,148,370

977,162

CREDITORS

Amounts falling due after more than one year

5

(648,399

)

(726,914

)

PROVISIONS FOR LIABILITIES

(25,925

)

(13,065

)

ACCRUALS AND DEFERRED INCOME

(65,250

)

(132,050

)

NET ASSETS

408,796

105,133

CAPITAL AND RESERVES

Called up share capital

101

101

Revaluation reserve

8

64,478

-

Retained earnings

344,217

105,032

SHAREHOLDERS' FUNDS

408,796

105,133

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 August 2022 and were signed on its behalf by:

M R Crampton - Director

1.	STATUTORY INFORMATION

Carlton Technologies 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 as modified by the revaluation of certain assets.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% straight line

Fixtures and Fittings

-

10% on reducing balance

Equipment

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 8 (2020 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 January 2021

1,131,415

Additions

17,298

Revaluations

64,478

At 31 December 2021

1,213,191

DEPRECIATION

At 1 January 2021

279,665

Charge for year

29,419

Revaluation adjustments

(159,019

)

At 31 December 2021

150,065

NET BOOK VALUE

At 31 December 2021

1,063,126

At 31 December 2020

851,750

Included in cost or valuation of land and buildings is freehold land of £ 171,800 (2020 - £ 171,800 ) which is not depreciated.

Cost or valuation at 31 December 2021 is represented by:

Totals

£

Valuation in 2022

990,000

Cost

223,191

1,213,191

If freehold and and buildings had not been revalued they would have been included at the following historical cost:

31.12.21

31.12.20

£

£

Cost

925,522

925,522

Aggregate depreciation

159,019

143,944

Value of land in freehold land and buildings

171,800

171,800

Freehold land and buildings were valued on an open market basis on 11 February 2022 by Mark Jenkinson & Son .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST OR VALUATION

At 1 January 2021

and 31 December 2021

32,426

DEPRECIATION

At 1 January 2021

9,407

Charge for year

5,131

At 31 December 2021

14,538

NET BOOK VALUE

At 31 December 2021

17,888

At 31 December 2020

23,019

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.12.21

31.12.20

£

£

Repayable by instalments

Bank loans more 5 yr by instal

340,284

381,718

6.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.12.21

31.12.20

£

£

Net obligations repayable:

Within one year

5,131

5,131

Between one and five years

12,757

17,888

17,888

23,019

Non-cancellable operating

leases

31.12.21

31.12.20

£

£

Within one year

2,902

9,518

Between one and five years

-

12,197

2,902

21,715

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.21

31.12.20

£

£

Bank overdrafts

-

11,078

Bank loans

722,452

809,067

Invoice Finance

176,065

132,048

898,517

952,193

The directors have personal guarantees in place.

8.

RESERVES

Revaluation

reserve

£

Freehold land and buildings

64,478

At 31 December 2021

64,478

9.	CONTROLLING PARTY

The controlling party is M R Crampton.