Cartcrest Limited Filleted accounts for Companies House (small and micro)
Cartcrest Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
03473758
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Statement of Financial Position |
2022 |
2021 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Debtors |
6 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
7 |
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Net current liabilities |
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Total assets less current liabilities |
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Provisions
Taxation including deferred tax |
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Net assets |
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Capital and reserves
Called up share capital |
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Revaluation reserve |
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Profit and loss account |
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Shareholders funds |
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Director's responsibilities:
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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
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
28 March 2024
, and are signed on behalf of the board by:
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Director |
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Company registration number:
03473758
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Notes to the Financial Statements |
Year ended 31 December 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 ODH.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Revenue recognition
Income tax
Tangible assets
Investment property
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Tax on profit
Major components of tax expense
2022 |
2021 |
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£ |
£ |
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Current tax:
UK current tax expense |
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------- |
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Tax on profit |
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------- |
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5.
Tangible assets
Land and buildings |
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£ |
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Cost |
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At 1 January 2022 and 31 December 2022 |
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Depreciation |
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At 1 January 2022 and 31 December 2022 |
– |
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Carrying amount |
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At 31 December 2022 |
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At 31 December 2021 |
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The freehold property of the company was revalued by the director as at the 31st December 2016 based upon the expected market value of the property at that date. The director does not believe there to be a change in value to date.
6.
Debtors
2022 |
2021 |
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£ |
£ |
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Amounts owed by related undertakings |
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Other debtors |
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7.
Creditors:
amounts falling due within one year
2022 |
2021 |
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£ |
£ |
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Bank loans and overdrafts |
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Amounts owed to related undertakings |
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Corporation tax |
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Other creditors |
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8.
Related party transactions
The company was under the control of Mr B & Mrs E.Feldman throughout the current and previous year. Amounts due from and due to associated companies are shown separately in the debtors and creditors notes to the accounts.