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REGISTERED NUMBER: 02777670 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

CANARYCLIFF LIMITED

CANARYCLIFF LIMITED (REGISTERED NUMBER: 02777670)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CANARYCLIFF LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: J M Burbidge





REGISTERED OFFICE: West Unit
Ellen Street
Portslade
East Sussex
BN41 1DW





REGISTERED NUMBER: 02777670 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Limited
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

CANARYCLIFF LIMITED (REGISTERED NUMBER: 02777670)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,005,464 1,347,001
Investments 6 1 1
1,005,465 1,347,002

CURRENT ASSETS
Debtors 7 256,325 343,799
Cash at bank 109,227 200,983
365,552 544,782
CREDITORS
Amounts falling due within one year 8 (138,792 ) (376,488 )
NET CURRENT ASSETS 226,760 168,294
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,232,225

1,515,296

CREDITORS
Amounts falling due after more than one
year

9

-

(32,944

)

PROVISIONS FOR LIABILITIES - (18,566 )
NET ASSETS 1,232,225 1,463,786

CAPITAL AND RESERVES
Called up share capital 10 100 100
Non-distributable reserves 11 656,250 525,000
Retained earnings 11 575,875 938,686
SHAREHOLDERS' FUNDS 1,232,225 1,463,786

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

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

The director acknowledges his 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.

CANARYCLIFF LIMITED (REGISTERED NUMBER: 02777670)

BALANCE SHEET - continued
31 MAY 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 director and authorised for issue on 30 April 2025 and were signed by:





J M Burbidge - Director


CANARYCLIFF LIMITED (REGISTERED NUMBER: 02777670)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Canarycliff Limited 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 the provisions of Section 1A "Small Entities" of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the recognition of certain assets and liabilities measured at fair value.

Critical accounting judgements and key sources of estimation uncertainty
No significant judgements have had to be made by management in preparing these financial statements.

There were no key assumptions made concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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

The company recognises revenue when the significant risks and rewards of ownership have been transferred to the buyer; the company retains no continuing involvement or control over the goods; the amount of revenue can be measured reliably; and when it is probable that future economic benefits will flow to the entity.

In respect of construction contracts and the rendering of services, turnover represents revenue measured by reference to the stage of completion of the contract activity or of the service transaction at the end of the reporting period.

Goodwill
Goodwill recognised represents the excess of the fair value and directly attributable costs of the purchase consideration over the fair values of the identifiable net assets, liabilities and contingent liabilities acquired.

Goodwill is amortised through the income statement in equal instalments over its estimated useful life of 5 years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. Reversals of impairment are recognised when the reasons for the impairment no longer apply.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

CANARYCLIFF LIMITED (REGISTERED NUMBER: 02777670)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold - 2.5% straight line
Plant and machinery - 20% reducing balance
Computer equipment - 33% straight line

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

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

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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. 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 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.

CANARYCLIFF LIMITED (REGISTERED NUMBER: 02777670)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. Lease incentives are recognised over the lease term on a straight line basis.

Interest income
Interest income is recognised using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 36,000
AMORTISATION
At 1 June 2023
and 31 May 2024 36,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

CANARYCLIFF LIMITED (REGISTERED NUMBER: 02777670)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2023 1,231,927 2,667,155 25,515
Disposals - (2,452,285 ) -
At 31 May 2024 1,231,927 214,870 25,515
DEPRECIATION
At 1 June 2023 273,155 2,333,339 5,895
Charge for year 30,798 177,794 3,924
Eliminated on disposal - (2,357,285 ) -
At 31 May 2024 303,953 153,848 9,819
NET BOOK VALUE
At 31 May 2024 927,974 61,022 15,696
At 31 May 2023 958,772 333,816 19,620

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 84,347 82,048 4,090,992
Disposals (84,347 ) - (2,536,632 )
At 31 May 2024 - 82,048 1,554,360
DEPRECIATION
At 1 June 2023 50,988 80,614 2,743,991
Charge for year 4,170 662 217,348
Eliminated on disposal (55,158 ) - (2,412,443 )
At 31 May 2024 - 81,276 548,896
NET BOOK VALUE
At 31 May 2024 - 772 1,005,464
At 31 May 2023 33,359 1,434 1,347,001

CANARYCLIFF LIMITED (REGISTERED NUMBER: 02777670)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2023 214,870 84,347 299,217
Disposals - (84,347 ) (84,347 )
At 31 May 2024 214,870 - 214,870
DEPRECIATION
At 1 June 2023 138,593 50,988 189,581
Charge for year 15,255 4,170 19,425
Eliminated on disposal - (55,158 ) (55,158 )
At 31 May 2024 153,848 - 153,848
NET BOOK VALUE
At 31 May 2024 61,022 - 61,022
At 31 May 2023 76,277 33,359 109,636

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2023
and 31 May 2024 1
NET BOOK VALUE
At 31 May 2024 1
At 31 May 2023 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 113,130 19,737
Amounts owed by group undertakings 42,131 319,499
Other debtors 5,000 -
Directors' current accounts 5,943 -
Deferred tax asset 85,363 -
Prepayments 4,758 4,563
256,325 343,799

CANARYCLIFF LIMITED (REGISTERED NUMBER: 02777670)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 31,540
Hire purchase contracts 7,410 71,289
Trade creditors 45,671 21,987
Amounts owed to group undertakings 766 766
Tax 48 32
Social security and other taxes - 6,380
VAT 78,076 235,386
Directors' current accounts 4,571 5,008
Accrued expenses 2,250 4,100
138,792 376,488

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years - 25,534
Hire purchase contracts - 7,410
- 32,944

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A £1 100 100

11. RESERVES
Retained Non-distributable
earnings reserves Totals
£    £    £   

At 1 June 2023 938,686 525,000 1,463,686
Deficit for the year (362,811 ) (362,811 )
Transfer - 131,250 131,250
At 31 May 2024 575,875 656,250 1,232,125