THE CANNON RUN LIMITED

Company Registration Number:
08806785 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

THE CANNON RUN LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

THE CANNON RUN LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 26,947 34,834
Total fixed assets: 26,947 34,834
Current assets
Stocks: 2,052,729 2,090,132
Debtors: 4 424,743 288,706
Cash at bank and in hand: 22,529 81,040
Total current assets: 2,500,001 2,459,878
Creditors: amounts falling due within one year: 5 (995,788) (1,312,066)
Net current assets (liabilities): 1,504,213 1,147,812
Total assets less current liabilities: 1,531,160 1,182,646
Creditors: amounts falling due after more than one year: 6 (1,854,944) (1,528,047)
Total net assets (liabilities): (323,784) (345,401)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (323,884) (345,501)
Shareholders funds: (323,784) (345,401)

The notes form part of these financial statements

THE CANNON RUN LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 24 September 2024
and signed on behalf of the board by:

Name: J E Waldie
Status: Director

The notes form part of these financial statements

THE CANNON RUN LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable.

Tangible fixed assets and depreciation policy

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives at straight line bases of 0% - 33.33% per annum. At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that items have suffered an impairment loss. If any such indication exists the recoverable amount of an asset is estimated in order to determine the extent of and provide for the impairment loss.

Other accounting policies

Taxation represents the sum of tax currently payable or receivable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred taxation is recognised and accounted for on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax is provided for at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised,

THE CANNON RUN LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 4 4

THE CANNON RUN LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 68,472
At 31 December 2023 68,472
Depreciation
At 01 January 2023 33,638
Charge for year 7,887
At 31 December 2023 41,525
Net book value
At 31 December 2023 26,947
At 31 December 2022 34,834

THE CANNON RUN LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Debtors

Debtors include Expenditure in Advance £196504 (2022 £277058).

THE CANNON RUN LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due within one year note

Creditors: amounts falling due within one year include Coronavirus Bounce Back Loan £10080 (2022 £10000) and Finance and Hire Purchase contracts £116057 (2022 £197080). Finance and Hire Purchase contracts are secured on the assets concerned.

THE CANNON RUN LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due after more than one year note

Creditors: amounts falling due after one year include Coronavirus Bounce Bask Loan £18518 (2022 £29668), Finance and Hire Purchase contracts £921291 (2022 £583244) and Other unsecured interest free loans £915135 (2022 £915135). Finance and Hire Purchase contracts are secured on the assets concerned.

THE CANNON RUN LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Financial commitments

At 31 December 2023 the company had no capital commitments.

THE CANNON RUN LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

8. Post balance sheet events

Stocks: stocks mainly comprise motor vehicles maintained as an integral part of the driving holiday activity of the company. Included in these vehicles are collector cars which in the opinion of the directors have a current market value in excess of cost.