Registered number
04759199
Canvas Enterprises Limited
Filleted Accounts
31 March 2025
Canvas Enterprises Limited
Registered number: 04759199
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Investments 3 650,000 847,000
Current assets
Debtors 4 3,188 2,888
Cash at bank and in hand 311,088 329,358
314,276 332,246
Creditors: amounts falling due within one year 5 (4,807) (12,575)
Net current assets 309,469 319,671
Total assets less current liabilities 959,469 1,166,671
Provisions for liabilities (9,858) (59,108)
Net assets 949,611 1,107,563
Capital and reserves
Called up share capital 100 100
Profit and loss account 949,511 1,107,463
Shareholders' funds 949,611 1,107,563
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 directors' report and profit and loss account has not been delivered to the Registrar of Companies.
J Hannah
Director
Approved by the board on 27 May 2025
Canvas Enterprises Limited
Notes to the Accounts
for the year ended 31 March 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 consists of revenue earned from the provision of acting services and 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:
Fixtures, fittings, tools and equipment 25% reducing balance
Investments
Unlisted investments are measured at fair value. Changes in fair value are included in the profit and loss account.
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 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, except for 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.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 2
3 Investments
Other
investments
£
Cost
At 1 April 2024 847,000
Revaluation (197,000)
At 31 March 2025 650,000
4 Debtors 2025 2024
£ £
Other debtors 3,188 2,888
5 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors - 5,400
Directors loan account 8,333 8,209
Taxation and social security costs (3,526) (1,034)
4,807 12,575
6 Other information
Canvas Enterprises Limited is a private company limited by shares and incorporated in England. Its registered office is:
Central House
124 High Street
Hampton Hill
Middlesex
TW12 1NS
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