Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31truemanagement consultancy2022-09-01false22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08179001 2022-09-01 2023-08-31 08179001 2021-09-01 2022-08-31 08179001 2023-08-31 08179001 2022-08-31 08179001 2021-09-01 08179001 c:Director1 2022-09-01 2023-08-31 08179001 c:Director2 2022-09-01 2023-08-31 08179001 d:MotorVehicles 2022-09-01 2023-08-31 08179001 d:MotorVehicles 2023-08-31 08179001 d:MotorVehicles 2022-08-31 08179001 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 08179001 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 08179001 d:OfficeEquipment 2022-09-01 2023-08-31 08179001 d:OfficeEquipment 2023-08-31 08179001 d:OfficeEquipment 2022-08-31 08179001 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 08179001 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 08179001 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 08179001 d:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 08179001 d:CurrentFinancialInstruments 2023-08-31 08179001 d:CurrentFinancialInstruments 2022-08-31 08179001 d:Non-currentFinancialInstruments 2023-08-31 08179001 d:Non-currentFinancialInstruments 2022-08-31 08179001 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 08179001 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 08179001 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 08179001 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 08179001 d:ShareCapital 2023-08-31 08179001 d:ShareCapital 2022-08-31 08179001 d:RetainedEarningsAccumulatedLosses 2023-08-31 08179001 d:RetainedEarningsAccumulatedLosses 2022-08-31 08179001 c:FRS102 2022-09-01 2023-08-31 08179001 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 08179001 c:FullAccounts 2022-09-01 2023-08-31 08179001 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 08179001 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 08179001 d:AcceleratedTaxDepreciationDeferredTax 2022-08-31 08179001 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-08-31 08179001 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-08-31 iso4217:GBP xbrli:pure

Registered number: 08179001










CANNON BUSINESS MANAGEMENT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

 
CANNON BUSINESS MANAGEMENT LIMITED
REGISTERED NUMBER: 08179001

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
222
10,655

Current assets
  

Debtors: amounts falling due within one year
 5 
19,795
11,232

Cash at bank and in hand
  
28,101
61,480

  
47,896
72,712

Creditors: amounts falling due within one year
 6 
(22,747)
(26,947)

Net current assets
  
 
 
25,149
 
 
45,765

Total assets less current liabilities
  
25,371
56,420

Creditors: amounts falling due after more than one year
 7 
-
(21,500)

Provisions for liabilities
  

Deferred tax
 8 
-
(2,024)

Net assets
  
25,371
32,896


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
25,271
32,796

  
25,371
32,896


Page 1

 
CANNON BUSINESS MANAGEMENT LIMITED
REGISTERED NUMBER: 08179001
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

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 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 income and retained earnings 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 22 February 2024.




J M Cannon
R J Cannon
Director
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CANNON BUSINESS MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Cannon Business Management Limited is a private company limited by shares, incorporated in England and Wales (registered number: 08179001). Its registered office is Home Farm, Main Street, Brandon, Warwickshire, CV8 3HW. The principal activity of the Company during the year continued to be that of management consultancy.

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 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.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
CANNON BUSINESS MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

 Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
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 any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Page 4

 
CANNON BUSINESS MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Motor vehicles
-
25% reducing balance
Office equipment
-
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

 
2.8

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
CANNON BUSINESS MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 September 2022
26,547
10,023
36,570


Disposals
(26,547)
(6,025)
(32,572)



At 31 August 2023

-
3,998
3,998



Depreciation


At 1 September 2022
17,447
8,468
25,915


Charge for the year on owned assets
-
1,333
1,333


Charge for the year on financed assets
1,327
-
1,327


Disposals
(18,774)
(6,025)
(24,799)



At 31 August 2023

-
3,776
3,776



Net book value



At 31 August 2023
-
222
222



At 31 August 2022
9,100
1,555
10,655

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
-
9,100

Page 6

 
CANNON BUSINESS MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Debtors

2023
2022
£
£


Trade debtors
-
10,800

Other debtors
19,480
-

Prepayments and accrued income
315
432

19,795
11,232



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
6,000

Trade creditors
60
120

Corporation tax
19,417
10,107

Other taxation and social security
1,109
6,905

Obligations under finance lease and hire purchase contracts
-
1,259

Other creditors
2,161
2,556

22,747
26,947



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
21,500

-
21,500


Page 7

 
CANNON BUSINESS MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

8.


Deferred taxation




2023
2022


£

£






At beginning of year
2,024
2,854


Charged to profit or loss
(2,024)
(830)



At end of year
-
2,024

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
-
2,024

-
2,024

 
Page 8