ACCOUNTS - Final Accounts

ACCOUNTS - Final Accounts

CARBETH LIMITED - Company Information

Print Friendly Version

Caseware UK (AP4) 2020.0.247 2020.0.247 2020-09-302020-09-30No description of principal activity2true2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2019-10-01falsetrue SC373582 2019-10-01 2020-09-30 SC373582 2018-10-01 2019-09-30 SC373582 2020-09-30 SC373582 2019-09-30 SC373582 c:CompanySecretary1 2019-10-01 2020-09-30 SC373582 c:Director1 2019-10-01 2020-09-30 SC373582 c:Director2 2019-10-01 2020-09-30 SC373582 c:RegisteredOffice 2019-10-01 2020-09-30 SC373582 d:CurrentFinancialInstruments 2020-09-30 SC373582 d:CurrentFinancialInstruments 2019-09-30 SC373582 d:CurrentFinancialInstruments d:WithinOneYear 2020-09-30 SC373582 d:CurrentFinancialInstruments d:WithinOneYear 2019-09-30 SC373582 d:ShareCapital 2020-09-30 SC373582 d:ShareCapital 2019-09-30 SC373582 d:RetainedEarningsAccumulatedLosses 2020-09-30 SC373582 d:RetainedEarningsAccumulatedLosses 2019-09-30 SC373582 c:EntityNoLongerTradingButTradedInPast 2019-10-01 2020-09-30 SC373582 c:FRS102 2019-10-01 2020-09-30 SC373582 c:AuditExempt-NoAccountantsReport 2019-10-01 2020-09-30 SC373582 c:FullAccounts 2019-10-01 2020-09-30 SC373582 c:PrivateLimitedCompanyLtd 2019-10-01 2020-09-30 SC373582 6 2019-10-01 2020-09-30 iso4217:GBP xbrli:pure

        img72ae.png










CARBETH LIMITED


Company registration number SC373582


FILING FINANCIAL STATEMENTS


FOR THE YEAR ENDED 30 SEPTEMBER 2020






























 
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

EH3 6JA




Accountants
Azets

Exchange Place 3 

Semple Street

Edinburgh

EH3 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 2020

2020
2019
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
  
318
2,628

  
329
2,639

Creditors: amounts falling due within one year
 6 
(27,598)
(27,508)

Net current liabilities
  
 
 
(27,269)
 
 
(24,869)

Total assets less current liabilities
  
269,762
272,162

  

Net assets
  
269,762
272,162


Capital and reserves
  

Called up share capital 
  
325,001
325,001

Profit and loss account
  
(55,239)
(52,839)

  
269,762
272,162


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.

As permitted by Section 444 of the Companies Act 2006, the directors have not delivered to the Registrar a copy of the company's Statement of Income and Retained Earnings for the year ended 30 September 2020.

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


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

2
 
CARBETH LIMITED
REGISTERED NUMBER:SC373582
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2020

Date: 17 June 2021


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 2020

1.


General information

These financial statements are presented in Pounds Sterling (GBP), as that is the currency in which the company's transactions are denominated. They comprise the financial statements of the company drawn up for the year ended 30 September 2020.
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.
This assessment of going concern includes the expected impact of COVID-19 to the entity in the 12 months following the signing of 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 2020

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 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.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2019 - 2).


4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 October 2019
297,031



At 30 September 2020
297,031





5.


Debtors

2020
2019
£
£


Other debtors
11
11

11
11


5

 
CARBETH LIMITED
 
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020

6.


Creditors: Amounts falling due within one year

2020
2019
£
£

Other creditors
25,198
25,198

Accruals and deferred income
2,400
2,310

27,598
27,508



7.


Related party transactions

At the year-end creditors included £24,683 (2019: £24,683) due to A McFarlane, director. This loan is interest free and has no fixed terms of repayment.

6