Carlin Performance Ltd
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Notes to the Accounts |
for the period from 22 July 2021 to 31 March 2022
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
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Leasehold land and buildings |
NIL |
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Plant and machinery |
25% Straight Line Basis |
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Fixtures, fittings, tools and equipment |
25% Straight Line Basis |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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2 |
Employees |
2022 |
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Number |
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Average number of persons employed by the company |
3 |
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3 |
Tangible fixed assets |
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Leasehold Buildings |
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Plant and machinery etc |
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Motor vehicles |
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Total |
£ |
£ |
£ |
£ |
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Cost |
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Additions |
17,961 |
|
25,291 |
|
10,000 |
|
53,252 |
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At 31 March 2022 |
17,961 |
|
25,291 |
|
10,000 |
|
53,252 |
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Depreciation |
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Charge for the period |
- |
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6,323 |
|
2,500 |
|
8,823 |
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At 31 March 2022 |
- |
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6,323 |
|
2,500 |
|
8,823 |
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Net book value |
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At 31 March 2022 |
17,961 |
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18,968 |
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7,500 |
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44,429 |
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4 |
Debtors |
2022 |
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£ |
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Other debtors |
3,732 |
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5 |
Creditors: amounts falling due within one year |
2022 |
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£ |
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Trade creditors |
32 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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127,500 |
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Taxation and social security costs |
3,578 |
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Other creditors |
8,146 |
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139,256 |
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6 |
Other information |
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Carlin Performance Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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Old Down House |
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Swelling Hill |
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Ropley |
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Hampshire |
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SO24 0DA |