BrightAccountsProduction v1.0.0 v1.0.0 2023-05-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the operating of a supermarket, butchers and off-licence. 16 December 2024 42 36 NI050147 2024-04-30 NI050147 2023-04-30 NI050147 2022-04-30 NI050147 2023-05-01 2024-04-30 NI050147 2022-05-01 2023-04-30 NI050147 uk-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI050147 uk-curr:PoundSterling 2023-05-01 2024-04-30 NI050147 uk-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 NI050147 uk-bus:AbridgedAccounts 2023-05-01 2024-04-30 NI050147 uk-core:ShareCapital 2024-04-30 NI050147 uk-core:ShareCapital 2023-04-30 NI050147 uk-core:RevaluationReserve 2024-04-30 NI050147 uk-core:RevaluationReserve 2023-04-30 NI050147 uk-core:RetainedEarningsAccumulatedLosses 2024-04-30 NI050147 uk-core:RetainedEarningsAccumulatedLosses 2023-04-30 NI050147 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-04-30 NI050147 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-04-30 NI050147 uk-bus:FRS102 2023-05-01 2024-04-30 NI050147 uk-core:LandBuildings 2023-05-01 2024-04-30 NI050147 uk-core:PlantMachinery 2023-05-01 2024-04-30 NI050147 uk-core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 NI050147 uk-core:MotorVehicles 2023-05-01 2024-04-30 NI050147 uk-core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 NI050147 2023-05-01 2024-04-30 NI050147 uk-bus:CompanySecretaryDirector1 2023-05-01 2024-04-30 NI050147 uk-bus:Director2 2023-05-01 2024-04-30 NI050147 uk-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
Cana Developments Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 30 April 2024



Cana Developments Limited
Company Registration Number: NI050147
ABRIDGED BALANCE SHEET
as at 30 April 2024

2024 2023
Notes £ £
 
Fixed Assets
Intangible assets 4 184,000 207,000
Tangible assets 5 1,492,565 1,426,990
Investment properties 6 800,000 800,000
───────── ─────────
Fixed Assets 2,476,565 2,433,990
───────── ─────────
 
Current Assets
Stocks 214,362 152,609
Debtors 61,098 71,522
Cash at bank and in hand 159,066 187,194
───────── ─────────
434,526 411,325
───────── ─────────
Creditors: amounts falling due within one year (1,455,749) (1,694,526)
───────── ─────────
Net Current Liabilities (1,021,223) (1,283,201)
───────── ─────────
Total Assets less Current Liabilities 1,455,342 1,150,789
 
Creditors:
amounts falling due after more than one year - (1,229)
 
Provisions for liabilities 53,135 68,992
───────── ─────────
Net Assets 1,508,477 1,218,552
═════════ ═════════
 
Capital and Reserves
Called up share capital 2 2
Revaluation reserve 348,019 348,019
Retained earnings 1,160,456 870,531
───────── ─────────
Shareholders' Funds 1,508,477 1,218,552
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 16 December 2024 and signed on its behalf by
           
           
________________________________     ________________________________
Mr. David Downey     Mrs. Hannah Downey
Director     Director
           



Cana Developments Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 30 April 2024

   
1. General Information
 
Cana Developments Limited is a private company limited by shares incorporated in Northern Ireland. The registered office of the company is 2 Trevor Hill, Newry, Co. Down, BT34 1DN, Northern Ireland. The principal place of business of the company is 113 Dublin Road, Newry, Co.Down, BT35 8QW. The company registration number is NI050147.

These financial statements cover the individual entity for the year ended 30 April 2024.

These financial statements are presented in Pound Sterling (£), which is the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 30 April 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the value of goods supplied by the company, exclusive of trade discounts and value added tax. Revenues are recognised when substantially all of the risks and rewards of ownership are transferred to the purchaser. The risks and rewards of ownership are deemed to be transferred when the goods have been shipped, or collected by the customer.
 
Intangible assets
 
 
Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 10 years.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 2% straight line
  Plant and machinery - 10% straight line
  Fixtures, fittings and equipment - 15% straight line
  Motor vehicles - 25% straight line
  Office Equipment - 25% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Abridged Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Abridged Profit and Loss Account.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Cash at bank and in hand
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Abridged Balance Sheet bank overdrafts are shown within Creditors.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Annual contributions payable to the company's pension scheme are charged to the profit and loss in the period to which they are related.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was:
 
  2024 2023
  Number Number
 
Employees 42 36
  ═════════ ═════════
       
4. Intangible assets
     
    Total
  £ £
Cost
At 1 May 2023 230,000 230,000
  ───────── ─────────
 
At 30 April 2024 230,000 230,000
  ───────── ─────────
Amortisation
At 1 May 2023 23,000 23,000
Charge for financial year 23,000 23,000
  ───────── ─────────
At 30 April 2024 46,000 46,000
  ───────── ─────────
Net book value
At 30 April 2024 184,000 184,000
  ═════════ ═════════
At 30 April 2023 207,000 207,000
  ═════════ ═════════

               
5. Tangible assets
  Land and Plant and Fixtures, Motor Office Equipment Total
  buildings machinery fittings and vehicles    
  freehold   equipment      
  £ £ £ £ £ £
Cost or Valuation
At 1 May 2023 1,004,029 635,915 120,054 - 16,220 1,776,218
Additions 17,410 59,710 98,233 10,000 - 185,353
  ───────── ───────── ───────── ───────── ───────── ─────────
At 30 April 2024 1,021,439 695,625 218,287 10,000 16,220 1,961,571
  ───────── ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 May 2023 11,346 257,804 65,471 - 14,607 349,228
Charge for the financial year 20,441 69,388 26,987 2,500 462 119,778
  ───────── ───────── ───────── ───────── ───────── ─────────
At 30 April 2024 31,787 327,192 92,458 2,500 15,069 469,006
  ───────── ───────── ───────── ───────── ───────── ─────────
Net book value
At 30 April 2024 989,652 368,433 125,829 7,500 1,151 1,492,565
  ═════════ ═════════ ═════════ ═════════ ═════════ ═════════
At 30 April 2023 992,683 378,111 54,583 - 1,613 1,426,990
  ═════════ ═════════ ═════════ ═════════ ═════════ ═════════

     
6. Investment Properties
  Investment
  properties
 
  £
Cost
 
At 30 April 2024 800,000
  ─────────
Net book value
At 30 April 2024 800,000
  ═════════
At 30 April 2023 800,000
  ═════════
 
The properties held by Cana Developments Limited were professionally revalued by an independent third party during the financial year ended 30 April 2021. In the opinion of the directors, and based on similar properties in the area, the estimated market value of the property at the 30 April 2024 is reflected in the value above.
       
7. PENSION COMMITMENTS
 
The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. Pension costs to the company amounted to £7,923 (2023: £6,648).

At the balance sheet date, there was an outstanding liability of £773 (2023: £1,955) due to the fund. This is included in creditors: amounts falling due within one year.