Registered number
04327240
Cannons Building Contractors Limited
Unaudited Filleted Accounts
For the Year Ended
31 January 2025
Cannons Building Contractors Limited
Registered number: 04327240
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 37,645 46,599
Current assets
Stocks 500 500
Debtors 4 61,197 56,404
Cash at bank and in hand 99,617 128,075
161,314 184,979
Creditors: amounts falling due within one year 5 (82,667) (79,961)
Net current assets 78,647 105,018
Total assets less current liabilities 116,292 151,617
Provisions for liabilities (8,936) (8,854)
Net assets 107,356 142,763
Capital and reserves
Called up share capital 100 100
Profit and loss account 107,256 142,663
Shareholders' funds 107,356 142,763
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
M Cannon
Director
Approved by the board on 1 April 2025
Cannons Building Contractors Limited
Notes to the Accounts
for the year ended 31 January 2025
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 evenly over its expected useful life, as follows:
Office equipment over 3 years
Plant and machinery 10% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 7 8
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2024 19,867 108,983 128,850
Additions 4,609 - 4,609
Disposals (969) (16,490) (17,459)
At 31 January 2025 23,507 92,493 116,000
Depreciation
At 1 February 2024 13,901 68,350 82,251
Charge for the year 2,385 9,927 12,312
On disposals (646) (15,562) (16,208)
At 31 January 2025 15,640 62,715 78,355
Net book value
At 31 January 2025 7,867 29,778 37,645
At 31 January 2024 5,966 40,633 46,599
4 Debtors 2025 2024
£ £
Trade debtors 46,680 46,537
Other debtors 14,517 9,867
61,197 56,404
5 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 20,098 16,682
Taxation and social security costs 37,496 48,200
Other creditors 25,073 15,079
82,667 79,961
6 Other information
Cannons Building Contractors Limited is a private company limited by shares and incorporated in England. Its registered office is:
Helm View
17 Lumley Road
Kendal
Cumbria
LA9 5HT
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