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REGISTERED NUMBER: 07494621 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

CAN - Solutions Limited

CAN - Solutions Limited (Registered number: 07494621)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CAN - Solutions Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: C A Nelson
T Finch





REGISTERED OFFICE: Unit 19-20 Macon Court
Crewe
Cheshire
CW1 6EA





REGISTERED NUMBER: 07494621 (England and Wales)

CAN - Solutions Limited (Registered number: 07494621)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 529,026 482,928

CURRENT ASSETS
Debtors 6 55,234 112,040
Cash at bank 1,279,753 822,357
1,334,987 934,397
CREDITORS
Amounts falling due within one year 7 (667,364 ) (566,451 )
NET CURRENT ASSETS 667,623 367,946
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,196,649

850,874

PROVISIONS FOR LIABILITIES 9 (21,809 ) (7,884 )
NET ASSETS 1,174,840 842,990

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,174,740 842,890
SHAREHOLDERS' FUNDS 1,174,840 842,990

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CAN - Solutions Limited (Registered number: 07494621)

Statement of Financial Position - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by:





C A Nelson - Director


CAN - Solutions Limited (Registered number: 07494621)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

CAN - Solutions Limited ('The Company') is primarily engaged in the provision of telecommunication solutions.

The company is a private company limited by shares and is incorporated in England and Wales. The address of the principle place of business and registered office is Unit 19-20 Macon Court, Crewe, Cheshire, CW1 6EA. The registered number can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented, unless otherwise stated.

Basis of preparation
The financial statements are prepared on the going concern basis under the historical cost convention and comply with the United Kingdom Accounting Standards and Companies Act 2006.

Going concern
No other material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

On this basis the directors considers it appropriate to prepare the financial statements on the going concern basis.

CAN - Solutions Limited (Registered number: 07494621)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Revenue recognition
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty.

Commissions from customer contracts with Network operator
Contracts revenue is recognised on completion of the contract established between the customer and the network service provider. All current and future contractual costs associated with that customer network deal are recognised in full immediately. Additional revenue entitlement based on customer use or clawback are recognised at the time of occurrence.

Call revenue
Call revenue is recognised in the month in which calls are made. Calls made in the year, but not billed by the year-end are accrued within debtors as accrued income.

Line rental
Line rental income is recognised during the month of rental.

Handsets
Turnover and related costs from the sale of handsets are recognised on the date title passes to the customer or if provided through a leasing company, the date that the agreement between the leasing company and the customer is activated.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates so as to write off their cost less residual amounts over their estimated useful economic lives. Assets are also reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the assets carrying amount exceeds its recoverable amount.

Computer equipment- 33% on cost
Fixtures and fittings - 25% on reducing balance
Freehold property- 2% on cost

The residual values and useful lives of assets are reviewed and adjusted if appropriate at each statement of financial position date.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the discounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

CAN - Solutions Limited (Registered number: 07494621)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial positionstatement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment of assets
Assets not measured at fair value are reviewed for any indications that the asset maybe impaired at each statement of financial position date. If such indications exists the recoverable amount of the asset or the assets cash generating unit is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Any losses arising from impairment are recognised in the Statement of Comprehensive Income under the appropriate heading.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 27 ) .

CAN - Solutions Limited (Registered number: 07494621)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 480,204 52,597 41,467 574,268
Additions - 86,952 470 87,422
At 31 March 2024 480,204 139,549 41,937 661,690
DEPRECIATION
At 1 April 2023 28,812 24,515 38,013 91,340
Charge for year 9,604 28,758 2,962 41,324
At 31 March 2024 38,416 53,273 40,975 132,664
NET BOOK VALUE
At 31 March 2024 441,788 86,276 962 529,026
At 31 March 2023 451,392 28,082 3,454 482,928

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 54,006 110,812
Other debtors 1,228 1,228
55,234 112,040

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 143,362
Trade creditors 83,953 152,890
Taxation and social security 242,366 130,399
Other creditors 341,045 139,800
667,364 566,451

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 143,362

CAN - Solutions Limited (Registered number: 07494621)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 21,809 7,884

Deferred
tax
£   
Balance at 1 April 2023 7,884
Provided during year 13,925
Balance at 31 March 2024 21,809