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REGISTERED NUMBER: 04655063 (England and Wales)















THE CANOPY COMPANY LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024






THE CANOPY COMPANY LTD (REGISTERED NUMBER: 04655063)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


THE CANOPY COMPANY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: L H Preston





REGISTERED OFFICE: Unit 9
Hutton Street
Blackburn
BB1 3BY





REGISTERED NUMBER: 04655063 (England and Wales)





ACCOUNTANTS: DJH Bury Limited
The Exchange
5 Bank Street
Bury
BL9 0DN

THE CANOPY COMPANY LTD (REGISTERED NUMBER: 04655063)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 81,327 95,619

CURRENT ASSETS
Inventories 7,198 10,769
Debtors 5 202,807 238,174
Cash at bank 223,721 119,353
433,726 368,296
CREDITORS
Amounts falling due within one year 6 (112,471 ) (130,804 )
NET CURRENT ASSETS 321,255 237,492
TOTAL ASSETS LESS CURRENT
LIABILITIES

402,582

333,111

PROVISIONS FOR LIABILITIES (12,945 ) (331 )
NET ASSETS 389,637 332,780

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 389,537 332,680
389,637 332,780

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

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

THE CANOPY COMPANY LTD (REGISTERED NUMBER: 04655063)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 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 director and authorised for issue on 26 November 2024 and were signed by:





L H Preston - Director


THE CANOPY COMPANY LTD (REGISTERED NUMBER: 04655063)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

The Canopy Company Ltd is a private company, limited by shares, registered in England and Wales, registration number 04655063. The registered office is Unit 9, Hutton Street, Blackburn, BB1 3BY.

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.

Going concern
The company has net assets of £389,637 (2023 - £332,780). The company has continued to trade profitably following the year-end and continues to meet obligations as they fall due.

The director has considered the impact of the current economic outlook on the company and recognise that the future cannot be predicted with any certainty. The director expects the company to continue trading and will endeavour to monitor and control costs as necessary. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting estimates and judgements
In the application of the company's accounting policies, the director are required to make estimates and judgement. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing material adjustment to the carrying
amount of assets and liabilities are outlined below:

The director uses judgement to provide against bad debts using knowledge of customers and experience. The provisions are revisited after the statement of financial position date to ensure appropriate.

In categorising leases as finance or operating leases, the director make judgements as to whether significant risks and rewards of ownership have transferred to the company as lessee.

Determining the useful economic life of an asset and the anticipated residual value are considered key judgements in calculating an appropriate depreciation charge.

Making judgement based on historical experience on the level of provision required for impairment of inventories. Further information received after the statement of financial position date may impact on the level of provision required.

Revenue
Revenue comprises the aggregate of the fair value of the sale of catering equipment provided, net of value-added tax. Revenue is recognised when the company has delivered goods to the customer, the customer has accepted the goods and collection of the related receivables is anticipated.

THE CANOPY COMPANY LTD (REGISTERED NUMBER: 04655063)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 20% straight line, 15% on reducing balance and 10% straight line

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Inventories
Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost represents actual purchase price.

In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Financial instruments
The company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

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

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost.

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 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 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.

Leasing commitments
Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

THE CANOPY COMPANY LTD (REGISTERED NUMBER: 04655063)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

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 income statement in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 249,502
DEPRECIATION
At 1 July 2023 153,883
Charge for year 14,292
At 30 June 2024 168,175
NET BOOK VALUE
At 30 June 2024 81,327
At 30 June 2023 95,619

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 81,526 114,702
Amounts owed by group undertakings 112,685 112,685
Other debtors 8,596 10,787
202,807 238,174

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 30,698 67,197
Taxation and social security 73,478 59,669
Other creditors 8,295 3,938
112,471 130,804

THE CANOPY COMPANY LTD (REGISTERED NUMBER: 04655063)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 30,000 30,000
Between one and five years 28,110 30,000
In more than five years - 28,110
58,110 88,110

8. ULTIMATE CONTROLLING PARTY

The parent company is Inox Fabrications Limited and its registered office is Unit 9, Hutton Street, Blackburn, BB1 3BY.