Cannon Property Management Ltd 14826543 false 2023-04-25 2024-04-30 2024-04-30 The principal activity of the company is the rental of investment properties. Digita Accounts Production Advanced 6.30.9574.0 true true 14826543 2023-04-25 2024-04-30 14826543 2024-04-30 14826543 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-04-30 14826543 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 14826543 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 14826543 bus:SmallEntities 2023-04-25 2024-04-30 14826543 bus:AuditExemptWithAccountantsReport 2023-04-25 2024-04-30 14826543 bus:FilletedAccounts 2023-04-25 2024-04-30 14826543 bus:SmallCompaniesRegimeForAccounts 2023-04-25 2024-04-30 14826543 bus:RegisteredOffice 2023-04-25 2024-04-30 14826543 bus:Director1 2023-04-25 2024-04-30 14826543 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-04-25 2024-04-30 14826543 bus:PrivateLimitedCompanyLtd 2023-04-25 2024-04-30 14826543 bus:Agent1 2023-04-25 2024-04-30 14826543 countries:EnglandWales 2023-04-25 2024-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14826543

Cannon Property Management Ltd

Unaudited Filleted Abridged Financial Statements

for the Period from 25 April 2023 to 30 April 2024

 

Cannon Property Management Ltd

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Cannon Property Management Ltd

Company Information

Director

Mrs Adrienne Crossley

Registered office

16 Seaford Road
South Tottenham
London
Greater London
N15 5DY

Accountants

Hamilton Morris Waugh
Chartered Certified Accountants
34 Dufferin Avenue
Bangor
Down
BT20 3AA

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Cannon Property Management Ltd
for the Period Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Cannon Property Management Ltd for the period ended 30 April 2024 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants (ACCA), we are subject to its ethical and other professional requirements.

This report is made solely to the Board of Directors of Cannon Property Management Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Cannon Property Management Ltd and state those matters that we have agreed to state to the Board of Directors of Cannon Property Management Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cannon Property Management Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Cannon Property Management Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Cannon Property Management Ltd. You consider that Cannon Property Management Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Cannon Property Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hamilton Morris Waugh
Chartered Certified Accountants
34 Dufferin Avenue
Bangor
Down
BT20 3AA

6 December 2024

 

Cannon Property Management Ltd

(Registration number: 14826543)
Abridged Balance Sheet as at 30 April 2024

Note

2024
£

Fixed assets

 

Investment property

79,773

Current assets

 

Cash at bank and in hand

 

2,337

Creditors: Amounts falling due within one year

(29,410)

Net current liabilities

 

(27,073)

Total assets less current liabilities

 

52,700

Creditors: Amounts falling due after more than one year

(54,500)

Accruals and deferred income

 

(111)

Net liabilities

 

(1,911)

Capital and reserves

 

Called up share capital

5

1

Retained earnings

(1,912)

Shareholders' deficit

 

(1,911)

For the financial period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 December 2024
 

.........................................
Mrs Adrienne Crossley
Director

 

Cannon Property Management Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 25 April 2023 to 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
16 Seaford Road
South Tottenham
London
Greater London
N15 5DY
England

These financial statements were authorised for issue by the director on 6 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The Director has reviewed the balance sheet for the next 12 months and is satisfied the company can continue as a going concern.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Cannon Property Management Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 25 April 2023 to 30 April 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Cannon Property Management Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 25 April 2023 to 30 April 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0.

4

Tangible assets

Cost or valuation

Depreciation

Carrying amount

At 30 April 2024

Investment properties

2024
£

Additions

79,773

There has been no valuation of investment property by an independent valuer.

5

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary Shares of £1 each

1

1