Registered number
00665169
Cannon Electronics & Automation Limited
Unaudited Filleted Accounts
30 September 2024
Cannon Electronics & Automation Limited
Registered number: 00665169
Balance Sheet
as at 30 September 2024
restated
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,380 292
Current assets
Debtors 4 674 1,042
Cash at bank and in hand 32,911 42,166
33,585 43,208
Creditors: amounts falling due within one year 5 (175,131) (174,359)
Net current liabilities (141,546) (131,151)
Total assets less current liabilities (140,166) (130,859)
Provisions for liabilities - (55)
Net liabilities (140,166) (130,914)
Capital and reserves
Called up share capital 100 100
Profit and loss account (140,266) (131,014)
Shareholders' funds (140,166) (130,914)
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.
N. Cannon
Director
Approved by the board on 20 March 2025
Cannon Electronics & Automation Limited
Notes to the Accounts
for the year ended 30 September 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.
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:
Plant and machinery over 2-5 years
Fixtures, fittings, tools and equipment over 2-5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), 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, other than amounts outstanding to the directors or intra-group balances, 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. 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. 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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 4
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023 111,230
Additions 2,070
At 30 September 2024 113,300
Depreciation
At 1 October 2023 110,938
Charge for the year 982
At 30 September 2024 111,920
Net book value
At 30 September 2024 1,380
At 30 September 2023 292
4 Debtors 2024 2023
£ £
Trade debtors 87 360
Other debtors 587 682
674 1,042
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 87 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest 36,513 36,513
Other creditors 138,531 137,846
175,131 174,359
6 Going concern
The company has received and continues to receive the support of the directors and shareholders and consequently the accounts have been prepared on a going concern basis.
7 Related party transactions
Advances from the directors and inter-company loans are interest free and repayable on demand.
8 Controlling party
The company is controlled by E. D. Cannon Holdings Limited, registered office: Whitegate, Hatfield Heath.
9 Other information
Cannon Electronics & Automation Limited is a private company limited by shares and incorporated in England. Its registered office is:
Whitegate
Hatfield Heath
Bishop's Stortford
Herts
CM22 7ED
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