Company Registration No. 09994477 (England and Wales)
CAROLLA GROUP LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
CAROLLA GROUP LTD
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
CAROLLA GROUP LTD
COMPANY INFORMATION
- 1 -
Directors
Mr C Jones
Mr A J Hardy
A K Gokani
P K Majithia
Secretary
Mr C Jones
Company number
09994477
Registered office
Top Floor, 3-4 Princes Street
Oxford Circus
Mayfair
London
United Kingdom
W1G 0JL
Accountants
TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
CAROLLA GROUP LTD
BALANCE SHEET
AS AT 31 DECEMBER 2022
31 December 2022
- 2 -
2021
2020
Notes
£
£
£
£
Current assets
Stocks
373,275
355,099
Debtors
3
568
3,417
Cash at bank and in hand
609
9,650
374,452
368,166
Creditors: amounts falling due within one year
4
(22,367)
(9,804)
Net current assets
352,085
358,362
Creditors: amounts falling due after more than one year
5
(370,000)
(370,000)
Net liabilities
(17,915)
(11,638)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(18,015)
(11,738)
Total equity
(17,915)
(11,638)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
CAROLLA GROUP LTD
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022
31 December 2022
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 15 February 2023 and are signed on its behalf by:
Mr C Jones
Director
Company Registration No. 09994477
The notes on pages 4 to 6 form part of these financial statements
CAROLLA GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 4 -
1
Accounting policies
Company information
Carolla Group Ltd is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Top Floor, 3-4 Princes Street, Oxford Circus, Mayfair, London, United Kingdom, W1G 0JL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
Going concern
These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the directors are aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern
1.2
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.3
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
CAROLLA GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 5 -
1.4
Compound instruments
The component parts of compound instruments issued by the
company
are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement. At the date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar non-convertible instrument. This amount is recorded as a liability on an amortised cost basis using the effective interest method until extinguished upon conversion or at the instrument's maturity date. The equity component is determined by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This is recognised and included in equity net of income tax effects and is not subsequently remeasured.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
568
3,417
4
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
1,518
8,904
Other creditors
20,849
900
22,367
9,804
CAROLLA GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 6 -
5
Creditors: amounts falling due after more than one year
2022
2021
Notes
£
£
Loan notes
370,000
370,000
6
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
50
50
50
50
Ordinary B shares of £1 each
50
50
50
50
100
100
100
100