Registered number
05982415
CANOPY PROJECTS LIMITED
Filleted Accounts
31 March 2025
CANOPY PROJECTS LIMITED
Registered number: 05982415
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 510,000 510,000
Current assets
Debtors 4 170,726 164,018
Cash at bank and in hand 5,399 8,606
176,125 172,624
Creditors: amounts falling due within one year 5 (30,095) (35,174)
Net current assets 146,030 137,450
Total assets less current liabilities 656,030 647,450
Creditors: amounts falling due after more than one year 6 (61,360) (81,295)
Net assets 594,670 566,155
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 30,000 30,000
Profit and loss account 564,570 536,055
Shareholders' funds 594,670 566,155
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.
R A Davis
Director
Approved by the board on 24 July 2025
CANOPY PROJECTS 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 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.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, 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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. 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. 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 revalued land and 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 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2024 510,000
At 31 March 2025 510,000
Depreciation
At 31 March 2025 -
Net book value
At 31 March 2025 510,000
At 31 March 2024 510,000
Freehold land and buildings: 2025 2024
£ £
Historical cost 480,000 480,000
Cumulative depreciation based on historical cost - -
480,000 480,000
The investment property has an been estimated by directors at 31 March 2023 as a fair refelection of market value.
4 Debtors 2025 2024
£ £
Other debtors 170,726 164,018
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 20,000 19,410
Trade creditors - 4,800
Taxation and social security costs 8,114 9,447
Other creditors 1,981 1,517
30,095 35,174
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 61,360 81,295
7 Loans 2025 2024
£ £
Creditors include:
Instalments falling due for payment after more than five years - 2,365
Secured bank loans 81,360 93,129
The bank loan is secured against the investment property.
8 Revaluation reserve 2025 2024
£ £
At 1 April 2024 30,000 30,000
At 31 March 2025 30,000 30,000
9 Related party transactions
R A Davis and M J Kendall are also directors of Canopy Residential Limited. At the year end Canopy Projects Ltd was owed £170,725 (Pror year - £162,018) from Canopy Residential Limited in respect of an interest free loan.
10 Other information
CANOPY PROJECTS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
5.20 Paintworks
Arnos Vale
Bristol
BS4 3EH
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