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Company Registration No. 04975522 (England and Wales)
HM Canvases Ltd Unaudited accounts for the year ended 30 November 2024
HM Canvases Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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HM Canvases Ltd Company Information for the year ended 30 November 2024
Director
Louise Elizabeth Moore
Company Number
04975522 (England and Wales)
Registered Office
Unit 20 Watery Lane Industrial Estate Watery Lane Willenhall WV13 3SU
Accountants
Nellys Accountants Ltd 71 Woodland Avenue Tettenhall Wood Wolverhampton West Midlands WV6 8ND
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HM Canvases Ltd Statement of financial position as at 30 November 2024
2024
2023
Notes
£
£
Fixed assets
Tangible assets
4
10,377
14,627
Current assets
Inventories
2,000
5,000
Debtors
5
3,104
553
Cash at bank and in hand
468
3,123
5,572
8,676
Creditors: amounts falling due within one year
6
(97,271)
(89,928)
Net current liabilities
(91,699)
(81,252)
Net liabilities
(81,322)
(66,625)
Capital and reserves
Called up share capital
7
100
100
Profit and loss account
(81,422)
(66,725)
Shareholders' funds
(81,322)
(66,625)
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 October 2025 and were signed on its behalf by
Louise Elizabeth Moore Director Company Registration No. 04975522
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HM Canvases Ltd Notes to the Accounts for the year ended 30 November 2024
1
Statutory information
HM Canvases Ltd is a private company, limited by shares, registered in England and Wales, registration number 04975522. The registered office is Unit 20 Watery Lane Industrial Estate, Watery Lane, Willenhall, WV13 3SU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Plant & machinery
20% straight line
Motor vehicles
25% straight line
Fixtures & fittings
20% straight line
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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HM Canvases Ltd Notes to the Accounts for the year ended 30 November 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
£
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At cost
At 1 December 2023
4,012
25,879
5,698
6,659
42,248
At 30 November 2024
4,012
25,879
5,698
6,659
42,248
Depreciation
At 1 December 2023
802
15,752
5,698
5,369
27,621
Charge for the year
401
3,376
-
473
4,250
At 30 November 2024
1,203
19,128
5,698
5,842
31,871
Net book value
At 30 November 2024
2,809
6,751
-
817
10,377
At 30 November 2023
3,210
10,127
-
1,290
14,627
5
Debtors
2024
2023
£
£
Amounts falling due within one year
Trade debtors
3,104
553
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
61,974
57,655
VAT
1,545
5,052
Trade creditors
4,625
7,545
Taxes and social security
1,497
456
Other creditors
250
-
Loans from directors
27,050
18,845
Accruals
330
375
97,271
89,928
7
Share capital
2024
2023
£
£
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
8
Average number of employees
During the year the average number of employees was 3 (2023: 4).
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