Canfield House Limited 07006177 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is property investment. Digita Accounts Production Advanced 6.30.9574.0 true 07006177 2023-10-01 2024-09-30 07006177 2024-09-30 07006177 core:CurrentFinancialInstruments 2024-09-30 07006177 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 07006177 core:Non-currentFinancialInstruments 2024-09-30 07006177 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 07006177 core:FurnitureFittingsToolsEquipment 2024-09-30 07006177 bus:SmallEntities 2023-10-01 2024-09-30 07006177 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 07006177 bus:FilletedAccounts 2023-10-01 2024-09-30 07006177 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 07006177 bus:RegisteredOffice 2023-10-01 2024-09-30 07006177 bus:CompanySecretaryDirector1 2023-10-01 2024-09-30 07006177 bus:Director2 2023-10-01 2024-09-30 07006177 bus:Director3 2023-10-01 2024-09-30 07006177 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 07006177 bus:Agent1 2023-10-01 2024-09-30 07006177 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 07006177 core:OfficeEquipment 2023-10-01 2024-09-30 07006177 countries:AllCountries 2023-10-01 2024-09-30 07006177 2023-09-30 07006177 core:FurnitureFittingsToolsEquipment 2023-09-30 07006177 2022-10-01 2023-09-30 07006177 2023-09-30 07006177 core:CurrentFinancialInstruments 2023-09-30 07006177 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 07006177 core:Non-currentFinancialInstruments 2023-09-30 07006177 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 07006177 core:FurnitureFittingsToolsEquipment 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 07006177

Canfield House Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Canfield House Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Canfield House Limited

Company Information

Directors

J C Peacock

A T Peacock

G F Peacock

Company secretary

J C Peacock

Registered office

3 Twyford Court
High Street
Dunmow
Essex
CM6 1AE

Solicitors

Mills & Reeve LLP
1 St James Court
Whitefriars
Norwich
Norfolk
NR3 1RU

Bankers

Barclays Bank
Leicester
Leicestershire
LE87 2BB

Accountants

Lambert Chapman LLP
Chartered accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Canfield House Limited

(Registration number: 07006177)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

956

1,117

Investment property

5

7,277,499

7,477,499

 

7,278,455

7,478,616

Current assets

 

Debtors

6

10,484

2,038

Cash at bank and in hand

 

322,197

206,666

 

332,681

208,704

Creditors: Amounts falling due within one year

7

(124,866)

(141,065)

Net current assets

 

207,815

67,639

Total assets less current liabilities

 

7,486,270

7,546,255

Creditors: Amounts falling due after more than one year

7

(4,502,462)

(4,476,190)

Provisions for liabilities

(239)

(280)

Net assets

 

2,983,569

3,069,785

Capital and reserves

 

Called up share capital

100

100

Retained earnings

2,983,469

3,069,685

Shareholders' funds

 

2,983,569

3,069,785

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Canfield House Limited

(Registration number: 07006177)
Balance Sheet as at 30 September 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 May 2025 and signed on its behalf by:
 

G F Peacock
Director

 

Canfield House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: 3 Twyford Court, High Street, Dunmow, Essex, CM6 1AE.

These financial statements were authorised for issue by the Board on 30 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the company's investment and other activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost or valuation of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Canfield House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the profit and loss account.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Canfield House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Office equipment
 £

Total
£

Cost or valuation

At 1 October 2023

6,992

6,992

Additions

149

149

At 30 September 2024

7,141

7,141

Depreciation

At 1 October 2023

5,875

5,875

Charge for the year

310

310

At 30 September 2024

6,185

6,185

Carrying amount

At 30 September 2024

956

956

At 30 September 2023

1,117

1,117

5

Investment properties

2024
£

At 1 October 2023

7,477,499

Additions

-

Disposals

-

Fair value adjustments

(200,000)

At 30 September 2024

7,277,499

The Directors have valued the investment properties at the balance sheet date. In their view, the fair value of the investment properties at the year end is £7,277,499.


6

Debtors

2024
£

2023
£

Prepayments

4,241

1,770

Other debtors

6,243

268

10,484

2,038

 

Canfield House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

46,993

24,328

Accruals and deferred income

72,924

73,484

Other creditors

4,949

43,253

124,866

141,065

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

4,502,462

4,476,190

Creditors include bank loans which are secured of £1,500,000 (2023: £1,500,000).

Bank borrowings

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

1,500,000

1,500,000

Other borrowings

3,002,462

2,976,190

4,502,462

4,476,190