REGISTERED NUMBER: 08793732 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CANONS PARK ESTATE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr E Solomon

Mr A H M Bennett

REGISTERED OFFICE:

Suite A

6 Honduras Street

London

EC1Y 0TH

REGISTERED NUMBER:

08793732 (England and Wales)

ACCOUNTANTS:

MGR SD Limited

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

FIXED ASSETS

Tangible assets

4

1,066

790

Investments

5

4

4

1,070

794

CURRENT ASSETS

Debtors

6

7,380

9,025

Cash at bank

138,845

99,973

146,225

108,998

CREDITORS

Amounts falling due within one year

7

(35,060

)

(27,891

)

NET CURRENT ASSETS

111,165

81,107

TOTAL ASSETS LESS CURRENT LIABILITIES

112,235

81,901

RESERVES

Designated restricted fund

(Security)

8

8,007

16,838

Restricted fund

(Pillar reconstruction)

8

20,772

-

Restricted fund (Benches)

8

8

12

Income and expenditure account

8

83,448

65,051

MEMBERS' FUNDS

112,235

81,901

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income and expenditure account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2025 and were signed on its behalf by:

Mr E Solomon - Director

1.	STATUTORY INFORMATION

Canons Park Estate Limited is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents subscriptions related to the period of the accounts, donations received, filming and sponsorship income invoiced during the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Taxation

The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from net surplus as

reported in the income and expenditure account because it excludes items of income or expense that are covered by the company's Mutual Trading Status as approved by HMRC as well as those taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and

subsequently measured at cost less any accumulated impairment losses. The investments are assessed

for impairment at each reporting date and any impairment losses or reversals of impairment losses are

recognised immediately in surplus or deficit.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2024

3,122

Additions

474

At 31 December 2024

3,596

DEPRECIATION

At 1 January 2024

2,332

Charge for year

198

At 31 December 2024

2,530

NET BOOK VALUE

At 31 December 2024

1,066

At 31 December 2023

790

5.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 January 2024

and 31 December 2024

4

NET BOOK VALUE

At 31 December 2024

4

At 31 December 2023

4

Investment is held in Surplus Lands (Canons) Limited. The shareholding of the issued share capital of the company is held by Canons Park Estate Limited. The shares in Surplus Lands (Canons) Limited are shown at a fair value of £4 (2023: £4). The company would be wound-up once the legal agreements are assigned over to Canons Park Estate Limited. The annual return fee and director's public liability is paid by Cannons Park Estate Limited.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

7,380

9,025

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

6,834

6,165

Taxation and social security

1,805

181

Other creditors

26,421

21,545

35,060

27,891

8.

RESERVES

Income

Designated

Restricted

and

restricted

fund

Restricted

expenditure

fund

(Pillar

fund

account

(Security)

reconstruction)

(Benches)

Totals

£

£

£

£

£

At 1 January 2024

65,051

16,838

-

12

81,901

Surplus for the year

9,562

-

-

-

9,562

on retained earnings

8,835

(8,831

)

20,772

(4

)

20,772

At 31 December 2024

83,448

8,007

20,772

8

112,235

9.	CAPITAL COMMITMENTS

31.12.24

31.12.23

£

£

Contracted but not provided for in the

financial statements

-

-

Approved and contracted - Improvements of Bridge in Seven Acre Lake.

10.	FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

The company maintains public liability insurance which includes cover for property damage. The maximum liability is limited to an amount provided in each of the respective policies under excess claim clauses.

The company has been served with a very substantial claim for tree root subsidence damage relating to a property on the Estate. The company believes, on the basis of legal advice received, that it has a good defence to the claim, but the outcome is uncertain.

The three insurers that provided insurance cover for the relevant period have either declined cover or have offered only a very limited indemnity. The company believes that the position taken by the insurers is incorrect and, on the advice of its lawyers, is planning to issue proceedings against the insurers. If coverage cannot be confirmed, the company would be facing a significant uninsured liability for the costs of defending the claim that cannot be quantified with any degree of accuracy at this stage.

If the event that the plaintiff succeeds and the insurers indemnify the company, then the company will be required to pay an insurance excess of £14,500.

In the event that the insurers do not fully indemnify the company, then the company would require a significant injection of funds to enable it to continue to defend the claim. If the claim were to succeed, or if the company were to be unable to defend the claim, then it would almost certainly become insolvent and unable to continue as a going concern.

11.	MEMBERS' LIABILITY

The company is limited by guarantee,not having a share capital and consequently the liability of memebers is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.