Company Registration No. 04975522 (England and Wales)
HM Canvases Ltd
Unaudited accounts
for the year ended 30 November 2023
HM Canvases Ltd
Unaudited accounts
Contents
HM Canvases Ltd
Company Information
for the year ended 30 November 2023
Director
Louise Elizabeth Moore
Company Number
04975522 (England and Wales)
Registered Office
Unit 20 Watery Lane Industrial Estate
Watery Lane
Willenhall
WV13 3SU
Accountants
Nelly's Accountants
71 Woodland Avenue
Tettenhall Wood
Wolverhampton
West Midlands
WV6 8ND
HM Canvases Ltd
Statement of financial position
as at 30 November 2023
Tangible assets
14,627
18,877
Cash at bank and in hand
3,123
19,457
Creditors: amounts falling due within one year
(89,928)
(72,661)
Net current liabilities
(81,252)
(43,820)
Net liabilities
(66,625)
(24,943)
Called up share capital
100
100
Profit and loss account
(66,725)
(25,043)
Shareholders' funds
(66,625)
(24,943)
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 August 2024 and were signed on its behalf by
Louise Elizabeth Moore
Director
Company Registration No. 04975522
HM Canvases Ltd
Notes to the Accounts
for the year ended 30 November 2023
HM Canvases Ltd is a private company, limited by shares, registered in England and Wales, registration number 04975522. The registered office is Unit 20 Watery Lane Industrial Estate, Watery Lane, Willenhall, WV13 3SU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Plant & machinery
20% straight line
Motor vehicles
25% straight line
Fixtures & fittings
20% straight line
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
HM Canvases Ltd
Notes to the Accounts
for the year ended 30 November 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 December 2022
4,012
25,879
5,698
6,659
42,248
At 30 November 2023
4,012
25,879
5,698
6,659
42,248
At 1 December 2022
401
12,376
5,698
4,896
23,371
Charge for the year
401
3,376
-
473
4,250
At 30 November 2023
802
15,752
5,698
5,369
27,621
At 30 November 2023
3,210
10,127
-
1,290
14,627
At 30 November 2022
3,611
13,503
-
1,763
18,877
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
57,655
48,120
Trade creditors
7,545
3,006
Taxes and social security
456
65
Loans from directors
18,845
18,401
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
8
Average number of employees
During the year the average number of employees was 4 (2022: 3).