REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2024 |
for |
The Canwell Estate Company Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2024 |
for |
The Canwell Estate Company Limited |
The Canwell Estate Company Limited (Registered number: 01496680) |
Contents of the Financial Statements |
for the Year Ended 31 December 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
The Canwell Estate Company Limited |
Company Information |
for the Year Ended 31 December 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Statutory Auditors |
6 Lichfield Street |
Burton-on-Trent |
Staffordshire |
DE14 3RD |
The Canwell Estate Company Limited (Registered number: 01496680) |
Balance Sheet |
31 December 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Other reserves | 7 |
The financial statements were approved by the Board of Directors and authorised for issue on |
The Canwell Estate Company Limited (Registered number: 01496680) |
Notes to the Financial Statements |
for the Year Ended 31 December 2024 |
1. | STATUTORY INFORMATION |
The Canwell Estate Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is the consideration due from members and residents of The Canwell Estate in respect of quarterly service charges, sewerage charges and road charges. |
Charges are calculated and raised to cover the expected annual costs of maintaining the Estate's road and sewerage infrastructure and to contribute to a gradual increase in the sinking fund. |
The charges are recognised as turnover over the period in which those services are delivered. |
Other contributions from members are recognised as other income within the Income Statement. |
Tangible fixed assets |
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation is provided |
at the following annual rates in order to write off each asset over its estimated useful life. |
Infrastructure - not provided |
Plant and machinery - 20 years on a straight line basis |
Fixtures and fittings - 15% on reducing balance |
The infrastructure of the company is valued at cost. The infrastructure consists of the roads and sewerage systems owned by the company. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
The Canwell Estate Company Limited (Registered number: 01496680) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Debtors |
Short term debtors are measured at transaction price less any impairment. Any losses arising from |
impairment are recognised in profit or loss. |
Creditors |
Short term creditors are measured at transaction price. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and |
Infrastructure | machinery | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2024 |
and 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
The Canwell Estate Company Limited (Registered number: 01496680) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Trade debtors |
Other debtors |
Social security and other taxes | 326 | 1,849 |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Income received in advance |
Accrued expenses |
7. | RESERVES |
Income |
and |
expenditure | Other |
account | reserves | Totals |
£ | £ | £ |
At 1 January 2024 | 152,076 |
Surplus for the year |
Transfer to/from sinking fund | (10,771 | ) | 10,771 | - |
At 31 December 2024 | 162,847 |
Other reserves is a reserve comprising all monies received by the company since incorporation from its members in respect of agreed contributions including payments they are required to make if they want to be released from restrictive covenants that are in place. |
The reserve was established as a 'sinking fund' for capital replacement and significant repairs. |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
The Canwell Estate Company Limited (Registered number: 01496680) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
9. | LIABILITY OF MEMBERS |
The liability of each member under their guarantee does not exceed £1. The guarantee remains in force for one year after cessation of their membership of the company. The number of members at 31 December 2024 is 35 (2023: 37). |