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REGISTERED NUMBER: 04691051 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Cannell Graphics Limited

Cannell Graphics Limited (Registered number: 04691051)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Cannell Graphics Limited (Registered number: 04691051)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 4,197 5,196
4,197 5,196

Current assets
Stocks 250 100
Debtors 6 1,320 3,033
Cash at bank 2,017 2,668
3,587 5,801
Creditors
Amounts falling due within one year 7 39,141 34,590
Net current liabilities (35,554 ) (28,789 )
Total assets less current liabilities (31,357 ) (23,593 )

Creditors
Amounts falling due after more than one
year

8

2,334

4,334
Net liabilities (33,691 ) (27,927 )

Capital and reserves
Called up share capital 9 27,000 27,000
Retained earnings (60,691 ) (54,927 )
Shareholders' funds (33,691 ) (27,927 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

Cannell Graphics Limited (Registered number: 04691051)

Balance Sheet - continued
30 April 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 November 2024 and were signed by:





K D Cannell - Director


Cannell Graphics Limited (Registered number: 04691051)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. Statutory information

Cannell Graphics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04691051

Registered office: 85 Church Road
Hove
East Sussex
BN3 2BB

The presentation currency of the financial statements statements is the Pound Sterling (£) and rounding to the nearest £.

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.

Goodwill
Goodwill, being the amount paid for a business in 2003, has been fully written off.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation 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 in order to write off each asset over its estimated useful life.

Short leasehold - 20% straight line
Fixtures and fittings - 15% and 25% reducing balance
Motor vehicles - 20% reducing balance
Plant and machinery - 25% reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Stock is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Cannell Graphics Limited (Registered number: 04691051)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. Accounting policies - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 May 2023
and 30 April 2024 158,000
Amortisation
At 1 May 2023
and 30 April 2024 158,000
Net book value
At 30 April 2024 -
At 30 April 2023 -

Cannell Graphics Limited (Registered number: 04691051)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. Tangible fixed assets
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
Cost
At 1 May 2023
and 30 April 2024 122,485 138,321 197,565 2,600 460,971
Depreciation
At 1 May 2023 122,485 137,400 194,422 1,468 455,775
Charge for year - 225 547 227 999
At 30 April 2024 122,485 137,625 194,969 1,695 456,774
Net book value
At 30 April 2024 - 696 2,596 905 4,197
At 30 April 2023 - 921 3,143 1,132 5,196

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 868 2,466
Other debtors 452 567
1,320 3,033

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 2,000 2,000
Trade creditors 146 146
Taxation and social security 409 127
Other creditors 36,586 32,317
39,141 34,590

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 2,334 4,334

Cannell Graphics Limited (Registered number: 04691051)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
23,000 class A shares £1 23,000 23,000
4,000 class B shares £1 4,000 4,000
27,000 27,000

10. Related party disclosures

Within creditors is £32,183 (2023 £30,701) owed to the director.