Carradale Limited Filleted accounts for Companies House (small and micro)

2 false false false false false false false false false true false false false false false false No description of principal activity 2020-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 06570912 2020-01-01 2020-12-31 06570912 2020-12-31 06570912 2019-12-31 06570912 2019-01-01 2019-12-31 06570912 2019-12-31 06570912 core:FurnitureFittings 2020-01-01 2020-12-31 06570912 bus:Director1 2020-01-01 2020-12-31 06570912 core:FurnitureFittings 2019-12-31 06570912 core:WithinOneYear 2020-12-31 06570912 core:WithinOneYear 2019-12-31 06570912 core:ShareCapital 2020-12-31 06570912 core:ShareCapital 2019-12-31 06570912 core:RetainedEarningsAccumulatedLosses 2020-12-31 06570912 core:RetainedEarningsAccumulatedLosses 2019-12-31 06570912 bus:SmallEntities 2020-01-01 2020-12-31 06570912 bus:AuditExemptWithAccountantsReport 2020-01-01 2020-12-31 06570912 bus:FullAccounts 2020-01-01 2020-12-31 06570912 bus:SmallCompaniesRegimeForAccounts 2020-01-01 2020-12-31 06570912 bus:PrivateLimitedCompanyLtd 2020-01-01 2020-12-31 06570912 core:ComputerEquipment 2020-01-01 2020-12-31 06570912 core:ComputerEquipment 2019-12-31 06570912 core:ComputerEquipment 2020-12-31

COMPANY REGISTRATION NUMBER: 06570912

Carradale Limited

Filleted Unaudited Financial Statements

31 December 2020

Carradale Limited

Financial Statements

Year ended 31 December 2020

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Carradale Limited

Statement of Financial Position

31 December 2020

	2020		2019
Note	£	£	£

Fixed assets

Tangible assets	5		1,153	1,730

Current assets

Debtors	6	29,859	28,192
Cash at bank and in hand		22,365	7,587
		--------	--------
		52,224	35,779

Creditors: amounts falling due within one year	7	11,774		5,167
		--------		--------
Net current assets			40,450	30,612
			--------	--------
Total assets less current liabilities			41,603	32,342

Provisions	219	330
	--------	--------
Net assets	41,384	32,012
	--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	41,284	31,912
	--------	--------
Shareholders funds	41,384	32,012
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Carradale Limited

Statement of Financial Position (continued)

31 December 2020

These financial statements were approved by the board of directors and authorised for issue on 28 September 2021 , and are signed on behalf of the board by:

Mr J Arnold-Forster

Director

Company registration number: 06570912

Carradale Limited

Notes to the Financial Statements

Year ended 31 December 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	25% reducing balance
Equipment	-	33% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Government grants

Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2019: 2 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 January 2020	700	8,828	9,528
Disposals	( 700)	–	( 700)
	----	-------	-------
At 31 December 2020	–	8,828	8,828
	----	-------	-------
Depreciation
At 1 January 2020	700	7,098	7,798
Charge for the year	–	577	577
Disposals	( 700)	–	( 700)
	----	-------	-------
At 31 December 2020	–	7,675	7,675
	----	-------	-------
Carrying amount
At 31 December 2020	–	1,153	1,153
	----	-------	-------
At 31 December 2019	–	1,730	1,730
	----	-------	-------

6. Debtors

	2020	2019
	£	£
Other debtors	29,859	28,192
	--------	--------

7. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	985	–
Corporation tax	2,308	2,775
Social security and other taxes	692	340
Other creditors	7,789	2,052
	--------	-------
	11,774	5,167
	--------	-------

8. Related party transactions

As at the year end, the company owed the Director £1,982 (2019: £302). No interest was charged on this balance.