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REGISTERED NUMBER: 02794047 (England and Wales)



















Financial Statements

for the Year Ended 31st December 2023

for

CANNON TECHNOLOGIES EUROPE LTD

CANNON TECHNOLOGIES EUROPE LTD (REGISTERED NUMBER: 02794047)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


CANNON TECHNOLOGIES EUROPE LTD

Company Information
for the year ended 31st December 2023







DIRECTORS: E A Reddicliffe
M Goulding



SECRETARY: E A Reddicliffe



REGISTERED OFFICE: 13 Queensway
Stem Lane Industrial Estate
New Milton
Hampshire
BH25 5NU



REGISTERED NUMBER: 02794047 (England and Wales)



SENIOR STATUTORY AUDITOR: Alasdair Weaks



AUDITORS: Simpson Wreford & Partners
Chartered Accountants & Statutory Auditors
Suffolk House
George Street
Croydon
Surrey
CR0 0YN

CANNON TECHNOLOGIES EUROPE LTD (REGISTERED NUMBER: 02794047)

Statement of Financial Position
31st December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 - -
Investments 5 239 239
239 239

CURRENT ASSETS
Debtors 6 1,107,814 756,814
Cash at bank 4,000 199,000
1,111,814 955,814
CREDITORS
Amounts falling due within one year 7 239 239
NET CURRENT ASSETS 1,111,575 955,575
TOTAL ASSETS LESS CURRENT LIABILITIES 1,111,814 955,814

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,111,714 955,714
SHAREHOLDERS' FUNDS 1,111,814 955,814

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th September 2024 and were signed on its behalf by:





M Goulding - Director


CANNON TECHNOLOGIES EUROPE LTD (REGISTERED NUMBER: 02794047)

Notes to the Financial Statements
for the year ended 31st December 2023

1. STATUTORY INFORMATION

The company did not trade during the period.

Cannon Technologies Europe Limited is a private company, limited by shares, registered in England and Wales. The company's registered office is 13 Queensway, Stem Lane Industrial Estate, New Milton, Hampshire, BH25 5NN

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

The company is itself a subsidiary company and is exempt from the requirement to prepare group financial statements by virtue of section 400 of the Companies Act 2006. These financial statements therefore present information about the company as an individual undertaking and not about its group.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated deprecation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Deprecation is provided on the following basis:

Motor vehicles - 25% reducing balance
Fixtures and fittings - 20% straight line
Computer equipment - 33% straight line

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

CANNON TECHNOLOGIES EUROPE LTD (REGISTERED NUMBER: 02794047)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st January 2023
and 31st December 2023 9,694 20,877 10,930 41,501
DEPRECIATION
At 1st January 2023
and 31st December 2023 9,694 20,877 10,930 41,501
NET BOOK VALUE
At 31st December 2023 - - - -
At 31st December 2022 - - - -

5. FIXED ASSET INVESTMENTS
Shares in Interest
group in joint
undertakings venture Totals
£    £    £   
COST
At 1st January 2023
and 31st December 2023 200 39 239
NET BOOK VALUE
At 31st December 2023 200 39 239
At 31st December 2022 200 39 239

CANNON TECHNOLOGIES EUROPE LTD (REGISTERED NUMBER: 02794047)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

5. FIXED ASSET INVESTMENTS - continued

Subsidiary undertaking
The following was a subsidiary undertakings of the company:


Name
Country of
Incorporation
Class of
Shares

Holding

Principal Activity
Cannontech Limited Scotland Ordinary 100% Manufacture of
specialist
electronic data
enclosure
systems.

Registered office
Cannontech Limited's registered office is 8 Kelburn Terrace. Fairlie, Largs, Ayrshire, KA29 0AH.

Joint ventures


Name
Country of
Incorporation
Class of
Shares

Holding

Principal Activity
Centiant Intl Limited England and Wales Ordinary 39% IT infrastructures

Registered office
Centiant Intl Limited registered office is Lime Tree Way, Hampshire Int Business Park, Chineham, Basingstoke, Hampshire, RG24 8GQ

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by group undertakings 1,107,814 756,814

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 239 239

8. AUDITORS' INFORMATION

The audit report provided to the members of Cannon Technologies Europe Limited on the financial statements for the year ended 31st December 2023 was unqualified.

The audit report was signed by Alasdair Weaks (Senior Statutory Auditor) for and on behalf of Simpson Wreford & Partners, Chartered Accountants and Statutory Auditor.

9. CONTINGENT LIABILITIES

The company is party to a composite guarantee between itself, Cannon Technologies Group Limited, Cannontech Limited, Cannon Technologies Limited, Cannon Telecomms Limited and Cannon Datacom Limited for bank borrowings, but all such borrowings were by Cannon Technologies Limited at the period end. There are no other contingent liabilities at the balance sheet date.

CANNON TECHNOLOGIES EUROPE LTD (REGISTERED NUMBER: 02794047)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

10. RELATED PARTY DISCLOSURES

No disclosure has been made of transactions with other wholly owned group companies in accordance with FRS 102 Section 1A paragraph 1AC.35, as the company is itself a wholly owned subsidiary of Cannon Technologies Group Limited.

During the year, the company received £156,000 (2022 - £195,000) in dividends from Centiant Intl. Limited, an associated company.

11. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent company is Cannon Technologies Group Limited, a company registered in England and Wales.

The ultimate controlling party is E A Reddicliffe.

Cannon Technologies Group Limited prepares consolidated financial statements and copies can be obtained from 13 Queensway, Stem Lane Industrial Estate, New Milton, Hampshire, BH25 5NU.