Carrington (1953) Limited - Accounts to registrar (filleted) - small 23.1.2

Carrington (1953) Limited - Accounts to registrar (filleted) - small 23.1.2

CARRINGTON (1953) LIMITED - Company Information

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REGISTERED NUMBER: 00522929 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

FOR

CARRINGTON (1953) LIMITED

CARRINGTON (1953) LIMITED (REGISTERED NUMBER: 00522929)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 August 2022










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


CARRINGTON (1953) LIMITED

COMPANY INFORMATION
For The Year Ended 31 August 2022







DIRECTORS: Jeffery Neville Carrington
David Leonard Carrington
Michelle Mary Carrington
Lindsay Patricia Deane
John Neville Carrington





REGISTERED OFFICE: 7a Abbey Business Park
Monks Walk
Farnham
Surrey
GU9 8HT





REGISTERED NUMBER: 00522929 (England and Wales)
Page 1
CARRINGTON (1953) LIMITED (REGISTERED NUMBER: 00522929)

ABRIDGED BALANCE SHEET
31 August 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 302 504
Investments 5 2,330,322 2,628,028
Investment property 6 8,572,250 5,792,875
10,902,874 8,421,407

CURRENT ASSETS
Debtors 254,703 295,617
Cash at bank 1,062,149 816,765
1,316,852 1,112,382
CREDITORS
Amounts falling due within one year 187,524 160,445
NET CURRENT ASSETS 1,129,328 951,937
TOTAL ASSETS LESS CURRENT
LIABILITIES
12,032,202
9,373,344

PROVISIONS FOR LIABILITIES 169,207 186,891
NET ASSETS 11,862,995 9,186,453

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 11,762,995 9,086,453
SHAREHOLDERS' FUNDS 11,862,995 9,186,453

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 May 2023 and were signed on its behalf by:



Jeffery Neville Carrington - Director


The notes form part of these financial statements

Page 2
CARRINGTON (1953) LIMITED (REGISTERED NUMBER: 00522929)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 August 2022


1. STATUTORY INFORMATION

Carrington (1953) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents the amounts receivable from the rental of investment properties, excluding value added tax, during the year.

Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.

Fixtures, fittings and equipment - 33.33% on cost

Investment property
Investment properties are measured at fair value at each reporting date, with gains or losses recognised in the profit and loss account. Properties are valued annually using the open market valuation basis. Material deferred tax is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost, except for investments in shares which are measured at fair value. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods.

Deferred tax represents the future tax consequences of material transactions and events recognised in the financial statements of current and previous periods.

Current and deferred tax assets and liabilities are not discounted and are recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
Transactions denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the date of the transaction. Balanced at the year-end denominated in a foreign currency are translated into sterling at the rate of exchange ruling at the balance sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Page 3 continued...
CARRINGTON (1953) LIMITED (REGISTERED NUMBER: 00522929)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 August 2022


2. ACCOUNTING POLICIES - continued

Fixed asset investments
Fixed asset investments are measured at fair value at each reporting date, with gains or losses recognised in the profit and loss account. The investments are measured annually using the open market valuation basis. Material deferred tax is provided on these gains at the rate expected to apply when the investments are sold.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2021
and 31 August 2022 6,478
DEPRECIATION
At 1 September 2021 5,974
Charge for year 202
At 31 August 2022 6,176
NET BOOK VALUE
At 31 August 2022 302
At 31 August 2021 504

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 1 September 2021 2,628,028
Additions 10,940
Revaluations (308,646 )
At 31 August 2022 2,330,322
NET BOOK VALUE
At 31 August 2022 2,330,322
At 31 August 2021 2,628,028

Cost or valuation at 31 August 2022 is represented by:
Totals
£   
Valuation in 2015 806,535
Valuation in 2016 467,707
Valuation in 2017 (43,876 )
Valuation in 2018 (93,397 )
Valuation in 2019 (169,644 )
Valuation in 2020 (198,847 )
Valuation in 2021 500,300
Valuation in 2022 (308,646 )
Cost 1,370,190
2,330,322

Page 4 continued...
CARRINGTON (1953) LIMITED (REGISTERED NUMBER: 00522929)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 August 2022


5. FIXED ASSET INVESTMENTS - continued

If the fixed asset investments had not been revalued they would have been included at the following historical cost:

2022 2021
£    £   
Cost 1,370,189 1,359,249

Fixed asset investments were valued on an open market basis on 31 August 2022 by Bellecapital UK Limited .

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2021 5,792,875
Revaluations 2,779,375
At 31 August 2022 8,572,250
NET BOOK VALUE
At 31 August 2022 8,572,250
At 31 August 2021 5,792,875

Fair value at 31 August 2022 is represented by:
£   
Valuation in 2013 299,168
Valuation in 2014 105,937
Valuation in 2015 65,975
Valuation in 2016 51,625
Valuation in 2017 295,990
Valuation in 2018 116,550
Valuation in 2019 206,500
Valuation in 2020 105,460
Valuation in 2021 114,250
Valuation in 2022 2,779,375
Cost 4,431,420
8,572,250

The company's investment properties were revalued by Robinson's on 30 March 2023 based on market value. This revaluation has resulted in an increase in the current valuation of the properties.

The related historical costs are £4,431,420 (2021 - £4,431,420).

Page 5