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Registered number: 02739982
Canvas Sky Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Panthera Limited
Chartered Management Accountants
The Manor
Main Street
Grove
Oxfordshire
OX12 7JJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 02739982
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,956 1,956
Tangible Assets 5 431 661
2,387 2,617
CURRENT ASSETS
Debtors 6 24,585 30,367
Investments 7 6 6
Cash at bank and in hand 93,029 119,226
117,620 149,599
Creditors: Amounts Falling Due Within One Year 8 (17,040 ) (8,177 )
NET CURRENT ASSETS (LIABILITIES) 100,580 141,422
TOTAL ASSETS LESS CURRENT LIABILITIES 102,967 144,039
NET ASSETS 102,967 144,039
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 102,867 143,939
SHAREHOLDERS' FUNDS 102,967 144,039
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Joseph Pisano
Director
26/04/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Canvas Sky Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02739982 . The registered office is Kings Cottage, The Pound, Cookham, Maidenhead, SL6 9QE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% straight line
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 1,956
As at 31 December 2024 1,956
Net Book Value
As at 31 December 2024 1,956
As at 1 January 2024 1,956
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5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 11,128 919 12,047
As at 31 December 2024 11,128 919 12,047
Depreciation
As at 1 January 2024 11,128 258 11,386
Provided during the period - 230 230
As at 31 December 2024 11,128 488 11,616
Net Book Value
As at 31 December 2024 - 431 431
As at 1 January 2024 - 661 661
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 20,080 28,500
Prepayments and accrued income 4,505 1,867
24,585 30,367
7. Current Asset Investments
2024 2023
£ £
Unlisted investments 6 6
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 764 331
Other taxes and social security 1,103 837
VAT 3,638 4,610
Directors' loan accounts 11,535 2,399
17,040 8,177
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4