Registered number
09304781
Cannon Fire Protection Limited
Filleted Accounts
30 November 2023
Cannon Fire Protection Limited
Registered number: 09304781
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 346,759 446,274
346,759 446,274
Current assets
Stocks 194,094 281,159
Debtors 5 1,191,594 1,154,897
Cash at bank and in hand 36,321 62,720
1,422,009 1,498,776
Creditors: amounts falling due within one year 6 (1,236,817) (1,376,917)
Net current assets 185,192 121,859
Total assets less current liabilities 531,951 568,133
Creditors: amounts falling due after more than one year 7 (164,873) (327,701)
Net assets 367,078 240,432
Capital and reserves
Called up share capital 100 100
Profit and loss account 366,978 240,332
Shareholders' funds 367,078 240,432
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N K Jackson
Director
Approved by the board on 19 August 2024
Cannon Fire Protection Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixures, fittings and equipment 25% on cost and 15% on cost
Motor Vehicles 33% on cost and 25% on cost
Stocks
Stocks are measured at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 32 23
3 Taxation
2023 2022
£ £
Analysis of change in period
Current tax
UK corporation tax on profits for the period 5,853 -
Group relief (5,853) -
Tax on profit on ordinary activities - -
4 Tangible fixed assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 December 2022 172,603 393,501 566,104
Additions 18,266 34,699 52,965
Disposals - (30,136) (30,136)
At 30 November 2023 190,869 398,064 588,933
Depreciation
At 1 December 2022 61,434 58,396 119,830
Charge for the year 32,877 96,462 129,339
On disposals - (6,995) (6,995)
At 30 November 2023 94,311 147,863 242,174
Net book value
At 30 November 2023 96,558 250,201 346,759
At 30 November 2022 111,169 335,105 446,274
5 Debtors 2023 2022
£ £
Trade debtors 866,585 1,069,319
Amounts owed by group undertakings 297,737 29,139
Prepayments and accrued income 15,837 52,448
Other debtors 11,435 3,991
1,191,594 1,154,897
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 51,111 51,111
Obligations under finance lease and hire purchase contracts 113,239 102,574
Trade creditors 252,413 367,978
Amounts owed to group undertakings 711,510 745,256
Other taxation and social security costs 49,179 38,252
Accruals and deferred income 54,864 68,140
Other creditors 4,501 3,606
1,236,817 1,376,917
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 51,111 102,222
Obligations under finance lease and hire purchase contracts 113,762 225,479
164,873 327,701
8 Controlling party
The ultimate controlling party is N K Jackson.
The company is 100% owned by Cannon Fire Life Safety Ltd . A company incorporated in England & Wales, with the same address.
9 Other information
Cannon Fire Protection Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite 2
720 Mandarin Court
Centre Park
Warrington
WA1 1GG
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