Carninney Rise Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 09362182 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

CARNINNEY RISE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms P J Lucchesi

D P Wilson

SECRETARY:

REGISTERED OFFICE:

The Old School

The Stennack

St Ives

Cornwall

TR26 1QU

REGISTERED NUMBER:

09362182 (England and Wales)

ACCOUNTANTS:

Greenwood Wilson

The Old School

The Stennack

St Ives

Cornwall

TR26 1QU

FIXED ASSETS

Tangible assets

4

65,436

101,562

CURRENT ASSETS

Stocks

2,207,502

2,300,674

Debtors

5

340,716

85,225

Investments

6

14

16

Cash at bank

345,187

254,780

2,893,419

2,640,695

CREDITORS

Amounts falling due within one year

7

2,816,611

2,628,658

NET CURRENT ASSETS

76,808

12,037

TOTAL ASSETS LESS CURRENT LIABILITIES

142,244

113,599

CAPITAL AND RESERVES

Called up share capital

105

105

Retained earnings

142,139

113,494

SHAREHOLDERS' FUNDS

142,244

113,599

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2022 and were signed on its behalf by:

D P Wilson - Director

1.	STATUTORY INFORMATION

Carninney Rise 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.

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.

Tangible fixed assets

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

Plant and machinery etc

-

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

177,278

Disposals

(37,810

)

At 31 March 2022

139,468

DEPRECIATION

At 1 April 2021

75,716

Charge for year

11,319

Eliminated on disposal

(13,003

)

At 31 March 2022

74,032

NET BOOK VALUE

At 31 March 2022

65,436

At 31 March 2021

101,562

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

340,716

85,225

6.	CURRENT ASSET INVESTMENTS

2022

2021

£

£

Unlisted investments

14

16

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Hire purchase contracts

4,375

13,125

Trade creditors

125,000

-

Taxation and social security

15,193

2,855

Other creditors

2,672,043

2,612,678

2,816,611

2,628,658

8.	INTER COMPANY BALANCES

At the balance sheet date the Company owed Commprop Ltd £1,352,155 (2021 £1,397,155). Both companies are under sole ownership of Mr D Wilson.