REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31st December 2023 |
for |
CANNON TECHNOLOGIES EUROPE LTD |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
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 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
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 |
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 |
DEPRECIATION |
At 1st January 2023 |
and 31st December 2023 |
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 | 239 |
NET BOOK VALUE |
At 31st December 2023 | 239 |
At 31st December 2022 | 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 |
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 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Other creditors |
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. |