Registered number
12408513
Canbalance Limited
Unaudited Filleted Accounts
30 June 2024
Canbalance Limited
Registered number: 12408513
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 33,796 -
Current assets
Debtors 4 9,398 21,000
Cash at bank and in hand 2,134 272
11,532 21,272
Creditors: amounts falling due within one year 5 (22,661) (16,559)
Net current (liabilities)/assets (11,129) 4,713
Total assets less current liabilities 22,667 4,713
Provisions for liabilities (6,421) -
Net assets 16,246 4,713
Capital and reserves
Called up share capital 1 1
Profit and loss account 16,245 4,712
Shareholder's funds 16,246 4,713
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Cano-Lopez
Director
Approved by the board on 9 January 2025
Canbalance Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a reducing balance basis, as follows:
Motor vehicles 25%
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 0
3 Tangible fixed assets
Motor vehicles
£
Cost
Additions 45,062
At 30 June 2024 45,062
Depreciation
Charge for the year 11,266
At 30 June 2024 11,266
Net book value
At 30 June 2024 33,796
4 Debtors 2024 2023
£ £
Trade debtors 2,500 21,000
Other taxes and social security 6,898 -
9,398 21,000
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,194 1,194
Taxation and social security costs - 15,183
Net wages 800 -
Other creditors 20,667 182
22,661 16,559
6 Other information
Canbalance Limited is a private company limited by shares and incorporated in England. Its registered office is:
Hopkin, The Heath
Lavenham Road
Great Waldingfield
Suffolk
CO10 0SA
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