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REGISTERED NUMBER: 09611172 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Canvas Represents Ltd

Canvas Represents Ltd (Registered number: 09611172)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Canvas Represents Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S Castley
T H Warren





REGISTERED OFFICE: 50 De Beauvoir Crescent
London
N1 5SB





REGISTERED NUMBER: 09611172 (England and Wales)





ACCOUNTANTS: EWP Limited
BP 8 27 avenue du Savoy
74400 Chamonix
France

Canvas Represents Ltd (Registered number: 09611172)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,903 3,082
Investments 5 1 -
3,904 3,082

CURRENT ASSETS
Debtors 6 879,540 558,086
Cash at bank 156,680 128,625
1,036,220 686,711
CREDITORS
Amounts falling due within one year 7 977,353 428,701
NET CURRENT ASSETS 58,867 258,010
TOTAL ASSETS LESS CURRENT
LIABILITIES

62,771

261,092

CREDITORS
Amounts falling due after more than one year 8 62,500 162,500
NET ASSETS 271 98,592

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 171 98,492
271 98,592

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Canvas Represents Ltd (Registered number: 09611172)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by:





T H Warren - Director


Canvas Represents Ltd (Registered number: 09611172)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Canvas Represents Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Some of the comparatives have been amended, in particular current assets and current liabilities as amounts had been incorrectly netted. This has no effect on profit and loss for the year not the reserves.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings Depreciation 33% on cost
Computers Depreciation 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Canvas Represents Ltd (Registered number: 09611172)

Notes to the Financial Statements - continued
for the Year Ended 31 March 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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 11,243
Additions 3,543
At 31 March 2024 14,786
DEPRECIATION
At 1 April 2023 8,161
Charge for year 2,722
At 31 March 2024 10,883
NET BOOK VALUE
At 31 March 2024 3,903
At 31 March 2023 3,082

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
Additions 1
At 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1

Canvas Represents Ltd (Registered number: 09611172)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 419,383 379,371
Amounts owed by group undertakings 389,190 160,827
Other debtors 70,967 17,888
879,540 558,086

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 50,000 -
Trade creditors 546,523 242,172
Amounts owed to group undertakings 223,097 17,279
Taxation and social security 16,328 113,534
Other creditors 141,405 55,716
977,353 428,701

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 62,500 162,500

9. ULTIMATE CONTROLLING PARTY

The controlling party is The Canvas Represents Employee Ownership Trust and its trustees.