Registration number: 05391477

Able Canopies Limited

(Registration number: 05391477)

Balance Sheet as at 31 December 2024

	Note	31 December 2024 £	31 May 2024 £
Fixed assets
Tangible assets	4	41,530	48,961
Current assets
Stocks		89,223	112,164
Debtors	5	330,929	249,223
Cash at bank and in hand		1,812,434	1,670,083
		2,232,586	2,031,470
Creditors: Amounts falling due within one year	6	(296,297)	(442,905)
Net current assets		1,936,289	1,588,565
Total assets less current liabilities		1,977,819	1,637,526
Creditors: Amounts falling due after more than one year	6	-	(6,726)
Provisions for liabilities		(231,663)	(231,663)
Net assets		1,746,156	1,399,137
Capital and reserves
Called up share capital		100	100
Capital redemption reserve		(1,983,249)	(1,983,249)
Retained earnings		3,729,305	3,382,286
Shareholders' funds		1,746,156	1,399,137

For the financial period ending 31 December 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 period 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

Able Canopies Limited

(Registration number: 05391477)

Balance Sheet as at 31 December 2024 (continued)

These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 29 September 2025 and signed on its behalf by:
 

.........................................

J A S Armitage

Director

Able Canopies Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2024 to 31 December 2024

1	Accounting policies

Statutory information

Able Canopies Limited is a private company, limited by shares, domiciled in England and Wales, company number 05391477. The registered office is at 5.2 Central House, 1 Ballards Lane, London, N3 1LQ.

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 except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Able Canopies Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2024 to 31 December 2024 (continued)

1	Accounting policies (continued)

Depreciation

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

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Fixtures and fittings	25% reducing balance
Motor vehicles	25% reducing balance
Office equipment	33% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Able Canopies Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2024 to 31 December 2024 (continued)

2	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 12 (2024 - 14).

3	Intangible assets

	Goodwill  £	Total £
Cost
At 1 June 2024	16,000	16,000
At 31 December 2024	16,000	16,000
Amortisation
At 1 June 2024	16,000	16,000
At 31 December 2024	16,000	16,000
Carrying amount
At 31 December 2024	-	-
At 31 May 2024	-	-

Able Canopies Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2024 to 31 December 2024 (continued)

5

Debtors

	31 December 2024 £	31 May 2024 £
Trade debtors	169,139	204,366
Other debtors	161,790	44,857
	330,929	249,223

6

Creditors

Creditors: amounts falling due within one year

	31 December 2024 £	31 May 2024 £
Due within one year
Loans and borrowings	11,392	15,938
Trade creditors	62,588	80,880
Taxation and social security	124,521	204,419
Other creditors	97,796	141,668
	296,297	442,905

Creditors: amounts falling due after more than one year

	31 December 2024 £	31 May 2024 £
Due after one year
Loans and borrowings	-	6,726

Able Canopies Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2024 to 31 December 2024 (continued)

7	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £16,757 (31 May 2024 - £39,798).

8	Non adjusting events after the financial period

On 31 March 2025 Century Plastics Limited purchased 100% of the share capital of Able Canopies Limited.