Company Registration No. 06287516 (England and Wales)
The Caraires Consultancy Limited
Unaudited accounts
for the year ended 30 June 2020
The Caraires Consultancy Limited
Unaudited accounts
Contents
The Caraires Consultancy Limited
Company Information
for the year ended 30 June 2020
Directors
Sharon Lynn Aires
Nicola Jane Carrouche
Company Number
06287516 (England and Wales)
Registered Office
14 Cawston Lane
Dunchurch
Rugby
Warwickshire
CV22 6QE
Accountants
Cube Accounting
29 Durrell Drive
Cawston
Rugby
CV22 7GW
The Caraires Consultancy Limited
Statement of financial position
as at
30 June 2020
Tangible assets
85,369
5,265
Cash at bank and in hand
98,489
81,930
Creditors: amounts falling due within one year
(193,180)
(241,211)
Net current assets
120,089
160,757
Total assets less current liabilities
205,458
166,022
Creditors: amounts falling due after more than one year
(50,000)
-
Provisions for liabilities
Net assets
148,853
166,022
Called up share capital
1,000
1,000
Profit and loss account
147,853
165,022
Shareholders' funds
148,853
166,022
For the year ending 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2020 and were signed on its behalf by
Nicola Jane Carrouche
Director
Company Registration No. 06287516
The Caraires Consultancy Limited
Notes to the Accounts
for the year ended 30 June 2020
The Caraires Consultancy Limited is a private company, limited by shares, registered in England and Wales, registration number 06287516. The registered office is 14 Cawston Lane, Dunchurch, Rugby, Warwickshire, CV22 6QE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the work performed.
The 30th June 2019 financial statements have been restated to reflected a material misstatement. During the period an accrual of £25,000 for repairs was incorrectly accounted for therefore understating profit by £25,000 and creating an additional tax charge of £4,750. The overall effect meant the retained earnings were understated by £20,250.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Computer equipment
33.33% Straight Line
Other tangible fixed assets
20% Reducing Balance
The Caraires Consultancy Limited
Notes to the Accounts
for the year ended 30 June 2020
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The company is currently facing the uncertainty of the potential impact of the Covid-19 virus on the business. The company has the support of the directors and by making use of the UK Government business support initiatives they have concluded that the company would be in a positive position once the global economy recovers. Thus the directors have adopted the going concern basis of accounting in preparing the financial statements.
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Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 July 2019
-
34,338
-
1,033
35,371
Additions
69,917
2,640
11,644
3,075
87,276
At 30 June 2020
69,917
36,978
11,644
4,108
122,647
At 1 July 2019
-
29,508
-
598
30,106
Charge for the year
1,398
1,494
2,911
1,369
7,172
At 30 June 2020
1,398
31,002
2,911
1,967
37,278
At 30 June 2020
68,519
5,976
8,733
2,141
85,369
At 30 June 2019
-
4,830
-
435
5,265
Trade debtors
157,780
318,820
Accrued income and prepayments
-
1,218
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Creditors: amounts falling due within one year
2020
2019
Trade creditors
566
4,075
Taxes and social security
34,014
90,376
Other creditors
12,976
4,687
Loans from directors
464
4,640
7
Creditors: amounts falling due after more than one year
2020
2019
The Caraires Consultancy Limited
Notes to the Accounts
for the year ended 30 June 2020
8
Operating lease commitments
2020
2019
At 30 June 2020 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within two to five years
60,000
-
More than five years
21,250
-
9
Transactions with related parties
During the year, an amount of £56,000 was loaned to a company with common directors. At the year end this loan had not been repaid. There is no interest being charged on this loan.
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Average number of employees
During the year the average number of employees was 88 (2019: 0).