Registered number:
09198505
CARLAUREN GROUP LTD
(FORMERLY KNOWN AS CORPORATE LAND SOLUTIONS LTD)
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2017
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CONTENTS
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Statement of Financial Position
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Notes to the Financial Statements
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CARLAUREN GROUP LTD
REGISTERED NUMBER:
09198505
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STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2017
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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PROVISIONS FOR LIABILITIES
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Page 1
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CARLAUREN GROUP LTD
REGISTERED NUMBER:
09198505
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STATEMENT OF FINANCIAL POSITION
(CONTINUED)
AS AT
31 DECEMBER 2017
The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The
financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
21 December 2018
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The notes on pages 3 to 8 form part of these financial statements.
Page 2
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
Carlauren Group Ltd is a private limited company incorporated in England and Wales. The registered office address and the principal place of business is at Care Home House, Bartec 4, Unit 3-4 Lynx West Trading Estate, Watercombe Lane, Yeovil, BA20 2SU.
The principal activity of the company during the period was that of a holding company.
The company's functional and presentational currency is £ sterling.
2.
Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of
Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
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Exemption from preparing consolidated financial statements
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The
company
, and the
Group
headed by it, qualify as small as set out in
section 383 of the Companies Act 2006
and the parent and
Group
are considered eligible for the exemption to prepare consolidated accounts.
The company made a loss for the period and at the reporting date has net current liabilities and net liabilities. The parent company and the controlling party have confirmed that they have the ability and will continue to provide financial support to the company so that it will be able to meet its financial obligations for at least twelve months from the date the accounts are approved. Therefore the accounts have been prepared on the going concern basis.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
Investments in subsidiaries are measured at cost less accumulated impairment.
Page 3
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
2.
Accounting policies (continued)
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Basic financial instruments
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The company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Interest bearing borrowings, such bank loans, classified as basic financial instruments are recognised
initially at the present value of future payments discounted at a market rate of interest. Thereafter they are stated at amortised cost using the effective interest method.
Cash and cash equivalents comprise cash balances and call deposits.
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Current and deferred taxation
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Tax is recognised in the Statement of Comprehensive Income.
The current income tax charge is calculated on the basis of tax rates and laws that have been
enacted or substantively enacted by the Statement of Financial Position date.
Deferred tax balances are recognised in respect of all timing differences that have originated but not
reversed by the Statement of Financial Position date, except that:
1) The recognition of deferred tax assets is limited to the extent that it is probable that they will be
recovered against the reversal of deferred tax liabilities or other future taxable profits; and
2) Any deferred tax balances are reversed if and when all conditions for retaining associated tax
allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is
determined using tax rates and laws that have been enacted or substantively enacted by the
Statement of Financial Position date.
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The average monthly number of employees, including the director, during the year was 3
(2016 -
2
)
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Page 4
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
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Charge for the year on owned assets
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Page 5
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
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Investments in subsidiary companies
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Due after more than one year
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Amounts owed by group undertakings
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Page 6
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Charged to profit or loss
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The deferred taxation balance is made up as follows:
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Accelerated capital allowances
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Page 7
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
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Allotted, called up and fully paid
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10,200
(2016 -
10,200
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Ordinary shares of £
1
each
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Page 8
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