BrightAccountsProduction v1.0.0 v1.0.0 2023-10-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is property development and building of residential houses. 26 June 2025 2 2 NI021365 2024-09-30 NI021365 2023-09-30 NI021365 2022-09-30 NI021365 2023-10-01 2024-09-30 NI021365 2022-10-01 2023-09-30 NI021365 uk-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 NI021365 uk-curr:PoundSterling 2023-10-01 2024-09-30 NI021365 uk-bus:AbridgedAccounts 2023-10-01 2024-09-30 NI021365 uk-core:ShareCapital 2024-09-30 NI021365 uk-core:ShareCapital 2023-09-30 NI021365 uk-core:SharePremium 2024-09-30 NI021365 uk-core:SharePremium 2023-09-30 NI021365 uk-core:OtherReservesSubtotal 2024-09-30 NI021365 uk-core:OtherReservesSubtotal 2023-09-30 NI021365 uk-core:RetainedEarningsAccumulatedLosses 2024-09-30 NI021365 uk-core:RetainedEarningsAccumulatedLosses 2023-09-30 NI021365 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-09-30 NI021365 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-09-30 NI021365 uk-bus:FRS102 2023-10-01 2024-09-30 NI021365 uk-core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 NI021365 uk-core:CostValuation 2023-09-30 NI021365 uk-core:DisposalsRepaymentsInvestments 2024-09-30 NI021365 uk-core:RevaluationsIncreaseDecreaseInInvestments 2024-09-30 NI021365 uk-core:CostValuation 2024-09-30 NI021365 uk-core:Subsidiary1 2023-10-01 2024-09-30 NI021365 uk-core:Subsidiary3 2023-10-01 2024-09-30 NI021365 2023-10-01 2024-09-30 NI021365 uk-bus:Director1 2023-10-01 2024-09-30 NI021365 uk-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
Canon Estates Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 30 September 2024



Canon Estates Limited
Company Registration Number: NI021365
ABRIDGED BALANCE SHEET
as at 30 September 2024

2024 2023
Notes £ £
 
Fixed Assets
Investments 5 277,551 259,541
───────── ─────────
 
Current Assets
Stocks 1,060,440 1,146,035
Debtors 144,208 159,119
Cash and cash equivalents 447,996 242,432
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1,652,644 1,547,586
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Creditors: amounts falling due within one year (28,654) (15,514)
───────── ─────────
Net Current Assets 1,623,990 1,532,072
───────── ─────────
Total Assets less Current Liabilities 1,901,541 1,791,613
═════════ ═════════
 
Capital and Reserves
Called up share capital 8,250 8,250
Share premium account 1,914 1,914
Other reserves 4,250 4,250
Retained earnings 1,887,127 1,777,199
───────── ─────────
Equity attributable to owners of the company 1,901,541 1,791,613
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 26 June 2025 and signed on its behalf by
           
           
________________________________          
Miss Caoimhe Connolly          
Director          
           



Canon Estates Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 30 September 2024

   
1. General Information
 
Canon Estates Limited is a private company limited by shares incorporated in Northern Ireland. 27 Well Road, Warrenpoint, Co. Down, BT34 3RS, Northern Ireland is the registered office, which is also the principal place of business of the company. The financial statements have been presented in pound sterling (£) which is also the functional currency of the company.

The registration number of the company is NI021365.

The financial statements cover the individual entity Canon Estates Limited for the financial year ended 30 September 2024.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 30 September 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Consolidated accounts
The company is entitled to the exemption in Section 399 of the Companies Act 2006 from the obligation to prepare group accounts.
 
Turnover
Turnover comprises the invoice value by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - Fully Depreciated
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the year in which it is receivable.

Investments in listed companies are held at fair value at the balance sheet date.

The fair value of the listed investments are determined by a third party financial advisory firm.
 
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.  Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversal of impairment losses are also recognised in profit or loss.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Abridged Balance Sheet bank overdrafts are shown within Creditors.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was
 
  2024 2023
  Number Number
 
Employees 2 2
  ═════════ ═════════
       
4. Tangible assets
  Fixtures, Total
  fittings and  
  equipment  
  £ £
Cost
At 1 October 2023 5,640 5,640
  ───────── ─────────
 
At 30 September 2024 5,640 5,640
  ───────── ─────────
Depreciation
At 1 October 2023 5,640 5,640
  ───────── ─────────
 
At 30 September 2024 5,640 5,640
  ───────── ─────────
Net book value
At 30 September 2024 - -
  ═════════ ═════════
         
5. Investments
  Group and Other Total
  participating investments  
  interests/    
  joint ventures    
Investments £ £ £
Cost or Valuation
At 1 October 2023 91 259,450 259,541
Disposals - (3) (3)
Revaluations - 18,013 18,013
  ───────── ───────── ─────────
At 30 September 2024 91 277,460 277,551
  ───────── ───────── ─────────
Net book value
At 30 September 2024 91 277,460 277,551
  ═════════ ═════════ ═════════
At 30 September 2023 91 259,450 259,541
  ═════════ ═════════ ═════════
             
5.1. Holdings in related undertakings
The company holds 20% or more of the share capital of the following company:
 
  Country Nature   Details Proportion
  of of   of held by
Name incorporation and address of Registered Office business   investment company
 
Subsidiary undertaking
Drumalane Developments Limited Northern Ireland Development of building projects   Ordinary 33.33%
 
An Choill Developments Limited Republic of Ireland Development of building projects   Ordinary 100%
 
 
In the opinion of the directors, the value to the company of the unlisted investments is not less than the book amount shown above.