1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 778 97 117 214 564 681 xbrli:pure xbrli:shares iso4217:GBP 13595843 2022-10-01 2023-09-30 13595843 2023-09-30 13595843 2022-09-30 13595843 2021-09-01 2022-09-30 13595843 2022-09-30 13595843 2021-08-31 13595843 core:FurnitureFittings 2022-10-01 2023-09-30 13595843 bus:Director2 2022-10-01 2023-09-30 13595843 bus:Director1 2022-10-01 2023-09-30 13595843 bus:Director3 2022-10-01 2023-09-30 13595843 core:FurnitureFittings 2022-09-30 13595843 core:FurnitureFittings 2023-09-30 13595843 core:WithinOneYear 2023-09-30 13595843 core:WithinOneYear 2022-09-30 13595843 core:ShareCapital 2023-09-30 13595843 core:ShareCapital 2022-09-30 13595843 core:RetainedEarningsAccumulatedLosses 2023-09-30 13595843 core:RetainedEarningsAccumulatedLosses 2022-09-30 13595843 core:FurnitureFittings 2022-09-30 13595843 bus:Director1 2022-09-30 13595843 bus:Director2 2022-09-30 13595843 bus:Director2 2023-09-30 13595843 bus:Director3 2023-09-30 13595843 bus:Director1 2022-09-30 13595843 bus:Director2 2022-09-30 13595843 bus:Director1 2021-09-01 2022-09-30 13595843 bus:Director2 2021-09-01 2022-09-30 13595843 bus:SmallEntities 2022-10-01 2023-09-30 13595843 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 13595843 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 13595843 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 13595843 bus:FullAccounts 2022-10-01 2023-09-30
COMPANY REGISTRATION NUMBER: 13595843
Canna Strategy Limited
Filleted Unaudited Financial Statements
30 September 2023
Canna Strategy Limited
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
564
681
Current assets
Debtors
6
11,012
25,937
Cash at bank and in hand
34,142
4,857
--------
--------
45,154
30,794
Creditors: amounts falling due within one year
7
28,767
17,212
--------
--------
Net current assets
16,387
13,582
--------
--------
Total assets less current liabilities
16,951
14,263
--------
--------
Net assets
16,951
14,263
--------
--------
Capital and reserves
Called up share capital
10
10
Profit and loss account
16,941
14,253
--------
--------
Shareholders funds
16,951
14,263
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Canna Strategy Limited
Statement of Financial Position (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 30 April 2024 , and are signed on behalf of the board by:
Mr G S Sanghara
Director
Company registration number: 13595843
Canna Strategy Limited
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Mill, 9 Soar Lane, Leicester, LE3 5DE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Fixtures and fittings
£
Cost
At 1 October 2022 and 30 September 2023
778
----
Depreciation
At 1 October 2022
97
Charge for the year
117
----
At 30 September 2023
214
----
Carrying amount
At 30 September 2023
564
----
At 30 September 2022
681
----
6. Debtors
2023
2022
£
£
Trade debtors
11,012
25,340
Other debtors
597
--------
--------
11,012
25,937
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
22,980
9,585
Corporation tax
3,443
3,173
Other creditors
2,344
4,454
--------
--------
28,767
17,212
--------
--------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr J Inott
( 371)
5,991
( 5,620)
Mr G S Sanghara
298
4,547
( 4,900)
( 55)
Mr D Rushton
5,200
( 5,989)
( 789)
----
--------
--------
----
( 73)
15,738
( 16,509)
( 844)
----
--------
--------
----
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr J Inott
2,850
( 3,221)
( 371)
Mr G S Sanghara
298
298
Mr D Rushton
----
-------
-------
----
3,148
( 3,221)
( 73)
----
-------
-------
----