Registered number
08661629
Canizaro Limited
Filleted Accounts
31 August 2024
Canizaro Limited
Registered number: 08661629
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1 1
Current assets
Work in progress 1,959,121 1,377,186
Debtors 4 621,360 340,901
Cash at bank and in hand 11,739 33,561
2,592,220 1,751,648
Creditors: amounts falling due within one year 5 (2,426,845) (1,551,522)
Net current assets 165,375 200,126
Total assets less current liabilities 165,376 200,127
Creditors: amounts falling due after more than one year 6 (19,093) (26,388)
Net assets 146,283 173,739
Capital and reserves
Called up share capital 100 100
Profit and loss account 146,183 173,639
Shareholders' funds 146,283 173,739
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.
Daniel Gabbay
Director
Approved by the board on 9 May 2025
Canizaro Limited
Notes to the Accounts
for the year ended 31 August 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. 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:
Plant and machinery 20% straight line
Work in progress
Work in progress includes property development costs in progress valued at the lower of cost and net realisable value.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 1,400
At 31 August 2024 1,400
Depreciation
At 1 September 2023 1,399
At 31 August 2024 1,399
Net book value
At 31 August 2024 1
At 31 August 2023 1
4 Debtors 2024 2023
£ £
Trade debtors 621,360 340,901
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,252 10,252
Corporation tax 37,093 48,670
Other taxes and social security costs 3,845 (864)
Other creditors 2,375,655 1,493,464
2,426,845 1,551,522
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 19,093 26,388
7 Other information
Canizaro Limited is a private company limited by shares and incorporated in England. Its registered office is:
53 Soprano Way
Esher
Surrey
KT10 0DG
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