CARLTONSTATES LIMITED - Period Ending 2018-03-31
CARLTONSTATES LIMITED - Period Ending 2018-03-31
Registration number:
CARLTONSTATES LIMITED
for the Year Ended 31 March 2018
8 Rodborough Road
London
London
NW11 8RY
CARLTONSTATES LIMITED
Contents
Company Information |
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Accountants' Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
CARLTONSTATES LIMITED
Company Information
Director |
Mrs Janet Avril GILBERT |
Company secretary |
Mr Winston Samuel GILBERT |
Registered office |
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Accountants |
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Page 1 |
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
CARLTONSTATES LIMITED
for the Year Ended 31 March 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of CARLTONSTATES LIMITED for the year ended 31 March 2018 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of CARLTONSTATES LIMITED, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of CARLTONSTATES LIMITED and state those matters that we have agreed to state to the Board of Directors of CARLTONSTATES LIMITED, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CARLTONSTATES LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that CARLTONSTATES LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of CARLTONSTATES LIMITED. You consider that CARLTONSTATES LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of CARLTONSTATES LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
London
London
NW11 8RY
Page 2 |
CARLTONSTATES LIMITED
Profit and Loss Account for the Year Ended 31 March 2018
Note |
Total |
Total |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating profit |
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(8,295) |
(8,363) |
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Profit before tax |
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Taxation |
( |
( |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Page 3 |
CARLTONSTATES LIMITED
Statement of Comprehensive Income for the Year Ended 31 March 2018
Note |
2018 |
2017 |
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Profit for the year |
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Total comprehensive income for the year |
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Page 4 |
CARLTONSTATES LIMITED
(Registration number: 02093526)
Balance Sheet as at 31 March 2018
Note |
2018 |
2017 |
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Current assets |
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Stocks |
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Debtors |
- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net assets/(liabilities) |
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( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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( |
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Total equity |
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( |
For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Mrs Janet Avril GILBERT
Director
Page 5 |
CARLTONSTATES LIMITED
Statement of Changes in Equity for the Year Ended 31 March 2018
Share capital |
Profit and loss account |
Total |
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At 1 April 2017 |
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( |
( |
Profit for the year |
- |
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Total comprehensive income |
- |
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At 31 March 2018 |
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Share capital |
Profit and loss account |
Total |
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At 1 April 2016 |
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( |
( |
Profit for the year |
- |
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Total comprehensive income |
- |
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At 31 March 2017 |
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( |
( |
Page 6 |
CARLTONSTATES LIMITED
Notes to the Financial Statements for the Year Ended 31 March 2018
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Page 7 |
CARLTONSTATES LIMITED
Notes to the Financial Statements for the Year Ended 31 March 2018
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Stocks |
2018 |
2017 |
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Other inventories |
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Debtors |
2018 |
2017 |
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Other debtors |
- |
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Total current trade and other debtors |
- |
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Creditors |
Note |
2018 |
2017 |
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Due within one year |
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Bank loans and overdrafts |
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Other creditors |
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Page 8 |
CARLTONSTATES LIMITED
Notes to the Financial Statements for the Year Ended 31 March 2018
Loans and borrowings |
2018 |
2017 |
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Current loans and borrowings |
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Bank borrowings |
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Bank overdrafts |
- |
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Other borrowings |
- |
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Page 9 |