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CANOPY (P & S) LIMITED

Unaudited Financial Statements

for the Year Ended 31st March 2023






CANOPY (P & S) LIMITED (REGISTERED NUMBER: 05129536)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CANOPY (P & S) LIMITED

Company Information
for the year ended 31st March 2023







DIRECTOR: G Facer





REGISTERED OFFICE: 1 Abbots Quay
Monks Ferry
Birkenhead
Merseyside
CH41 5LH





REGISTERED NUMBER: 05129536 (England and Wales)





ACCOUNTANTS: Haines Watts Wirral Limited
1 Abbots Quay
Monks Ferry
Birkenhead
Merseyside
CH41 5LH

CANOPY (P & S) LIMITED (REGISTERED NUMBER: 05129536)

Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,241 3,959

CURRENT ASSETS
Debtors 5 10,289 1,263
Cash at bank and in hand 24,790 20,543
35,079 21,806
CREDITORS
Amounts falling due within one year 6 37,619 25,423
NET CURRENT LIABILITIES (2,540 ) (3,617 )
TOTAL ASSETS LESS CURRENT LIABILITIES 701 342

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 7 700 341
SHAREHOLDERS' FUNDS 701 342

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22nd October 2024 and were signed by:





G Facer - Director


CANOPY (P & S) LIMITED (REGISTERED NUMBER: 05129536)

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

1. STATUTORY INFORMATION

Canopy (P & S) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

CANOPY (P & S) LIMITED (REGISTERED NUMBER: 05129536)

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

2. ACCOUNTING POLICIES - continued

Significant judgement & estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The areas in the financial statements where these judgements and estimates have been made include:

- The useful economic lives of tangible fixed assets.

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

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks and other third parties.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st April 2022
and 31st March 2023 29,448 793 8,545 13,702 52,488
DEPRECIATION
At 1st April 2022 26,464 751 7,990 13,324 48,529
Charge for year 448 6 139 125 718
At 31st March 2023 26,912 757 8,129 13,449 49,247
NET BOOK VALUE
At 31st March 2023 2,536 36 416 253 3,241
At 31st March 2022 2,984 42 555 378 3,959

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 10,289 1,263

CANOPY (P & S) LIMITED (REGISTERED NUMBER: 05129536)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 6,383 (321 )
Other creditors 31,236 25,744
37,619 25,423

7. RESERVES
Retained
earnings
£   

At 1st April 2022 341
Profit for the year 22,859
Dividends (22,500 )
At 31st March 2023 700

8. RELATED PARTY DISCLOSURES

Included in other creditors is the sum of £29,166 (2022 - £23,673) owing to Mr G Facer, the director of the company.