ACCOUNTS - Final Accounts

ACCOUNTS - Final Accounts

CARBETH LIMITED - Company Information

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Caseware UK (AP4) 2018.0.111 2018.0.111 2018-09-302018-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2017-10-01 SC373582 2017-10-01 2018-09-30 SC373582 2016-10-01 2017-09-30 SC373582 2018-09-30 SC373582 2017-09-30 SC373582 c:CompanySecretary1 2017-10-01 2018-09-30 SC373582 c:Director1 2017-10-01 2018-09-30 SC373582 c:Director2 2017-10-01 2018-09-30 SC373582 c:RegisteredOffice 2017-10-01 2018-09-30 SC373582 c:Agent1 2017-10-01 2018-09-30 SC373582 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2018-09-30 SC373582 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2017-09-30 SC373582 d:CurrentFinancialInstruments 2018-09-30 SC373582 d:CurrentFinancialInstruments 2017-09-30 SC373582 d:CurrentFinancialInstruments d:WithinOneYear 2018-09-30 SC373582 d:CurrentFinancialInstruments d:WithinOneYear 2017-09-30 SC373582 d:ShareCapital 2018-09-30 SC373582 d:ShareCapital 2017-09-30 SC373582 d:RetainedEarningsAccumulatedLosses 2018-09-30 SC373582 d:RetainedEarningsAccumulatedLosses 2017-09-30 SC373582 c:FRS102 2017-10-01 2018-09-30 SC373582 c:AuditExempt-NoAccountantsReport 2017-10-01 2018-09-30 SC373582 c:FullAccounts 2017-10-01 2018-09-30 SC373582 c:PrivateLimitedCompanyLtd 2017-10-01 2018-09-30 iso4217:GBP xbrli:pure

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CARBETH LIMITED


Company registration number SC373582


FILING FINANCIAL STATEMENTS


FOR THE YEAR ENDED 30 SEPTEMBER 2018






























 
CARBETH LIMITED
 

CONTENTS



Page
Company Information
 
1
Statement of Financial Position
 
2 - 3
Notes to the Financial Statements
 
4 - 6


 
CARBETH LIMITED
 
 
COMPANY INFORMATION


Directors
Alan McFarlane 
Anne McFarlane 




Company secretary
DM Company Services Limited



Registered number
SC373582



Registered office
41 Northumberland Street

Edinburgh

EH2 6JA




Accountants
Scott-Moncrieff

Exchange Place 3

Semple Street

Edinburgh

EH2 8BL




Bankers
Adam & Company
25 St Andrews Square

Edinburgh

EH2 1AF




1
 
CARBETH LIMITED
REGISTERED NUMBER:SC373582

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2018

2018
2017
Note
£
£

Fixed assets
  

Investments
 4 
297,031
297,031

  
297,031
297,031

Current assets
  

Debtors: amounts falling due within one year
 5 
11
11

Cash at bank and in hand
  
2,628
2,629

  
2,639
2,640

Creditors: amounts falling due within one year
 6 
(25,198)
(22,978)

Net current liabilities
  
 
 
(22,559)
 
 
(20,338)

Total assets less current liabilities
  
274,472
276,693

  

Net assets
  
274,472
276,693


Capital and reserves
  

Called up share capital 
  
325,001
325,001

Profit and loss account
  
(50,529)
(48,308)

  
274,472
276,693


The directors consider 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 the Companies Act 2006.

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.

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 Section 1A 'Small Entities' of Financial Reporting Standard 102.

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 income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

2
 
CARBETH LIMITED
REGISTERED NUMBER:SC373582
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2018

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


................................................
Alan McFarlane
Director

Date: 10 June 2019


The notes on pages 4 to 6 form part of these financial statements.

3

 
CARBETH LIMITED
 
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2018

1.


General information

These financial statements are presented in Pounds Sterling (GBP), as that is the currency in which (the majority of) the company's transactions are denominated. They comprise the financial statements of the company drawn up for the year ended 30 September 2018.
The continuing activities of Carbeth Limited ('the company') is its investment as a partner in Dundas Partners LLP, an investment management business.
The company is a private company limited by shares and is incorporated in United Kingdom and registered in Scotland.  Details of the registered office can be found on the company information page of these financial statements.  The company's registered number is SC373582.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with applicable law and United Kingdom Accounting Standards including Section 1A 'Small Entities' of Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice applicable to Small Entities).

The preparation of financial statements in compliance with Section 1A ‘Small Entities’ of FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company accounting policies.
The following principal accounting policies have been applied:

 
2.2

Going concern

The board of directors is satisfied that the company has adequate availability of funding in order to continue as a going concern. Therefore the company continues to adopt the going concern basis in preparing these financial statements.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

4

 
CARBETH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2018

2.Accounting policies (continued)

 
2.6

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

 
2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2017 - 2).


4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 October 2017
297,031



At 30 September 2018
297,031





5.


Debtors

2018
2017
£
£


Other debtors
11
11

11
11


5

 
CARBETH LIMITED
 
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2018

6.


Creditors: Amounts falling due within one year

2018
2017
£
£

Other creditors
22,978
20,878

Accruals and deferred income
2,220
2,100

25,198
22,978



7.


Related party transactions

At the year-end creditors included £22,463 (2017: 20,363) due to A McFarlane, director. This loan is interest free and has no fixed terms of repayment.

6