ACCOUNTS - Final Accounts

Registered number: 03886765

CANONBURY BUILDERS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024


CANONBURY BUILDERS LIMITED

CONTENTS

	Page
Statement of financial position	1 - 2
Notes to the financial statements	3 - 6


CANONBURY BUILDERS LIMITED REGISTERED NUMBER:03886765

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		13,554		18,071
Current assets
Debtors: amounts falling due within one year	5	-		5,171
Bank and cash balances		16,214		2,034
		16,214		7,205
Current liabilities
Creditors: amounts falling due within one year	6	(15,780)		(14,893)
Net current assets/(liabilities)			434		(7,688)
Total assets less current liabilities			13,988		10,383
Creditors: amounts falling due after more than one year	7		(1,806)		(3,904)
Provisions for liabilities
Deferred tax	8		(2,575)		(2,434)
Net assets			9,607		4,045

Capital and reserves
Called up share capital	9	1	1
Profit and loss account		9,606	4,044
		9,607	4,045

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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CANONBURY BUILDERS LIMITED REGISTERED NUMBER:03886765

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 December 2025.

P C O'Reilly

Director

The notes on pages 3 to 6 form part of these financial statements.

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CANONBURY BUILDERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Canonbury Builders Limited is a private company, limited by shares, registered in England & Wales with its registered office at 18 Ridings Avenue, Grange Park, Winchmore Hill, London N21 2EL.
The principal activity of the company is the provision of building services.
The functional and presentational currency of the company is £ sterling.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:

2.2

Going concern

The Company meets it day to day working capital requirements through the support of the director, who is also the sole shareholder, who considers it appropriate to prepare the financial statements on the going concern basis.

2.3

Revenue

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts. Revenue is recognised in the period in which the goods and services are supplied.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles	-	25% reducing balance
Fixtures and fittings	-	15% reducing balance
Computer equipment	-	33.33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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CANONBURY BUILDERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Debtors

Short term debtors are measured at the transaction price, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short term creditors are measured at the transaction price.

2.8

Dividends

Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 1).

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CANONBURY BUILDERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Tangible fixed assets

	Motor vehicles	Fixtures and fittings	Total
	£	£	£
Cost
At 1 January 2024	27,093	13,547	40,640
At 31 December 2024	27,093	13,547	40,640
Depreciation
At 1 January 2024	12,488	10,081	22,569
Charge for the year on owned assets	3,651	866	4,517
At 31 December 2024	16,139	10,947	27,086
Net book value
At 31 December 2024	10,954	2,600	13,554
At 31 December 2023	14,605	3,466	18,071

Debtors

					2024	2023
					£	£


Prepayments and accrued income	-	902
Tax recoverable	-	4,269
	-	5,171

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Taxation and social security	2,141	-
Obligations under finance lease and hire purchase contracts	2,118	2,118
Other creditors	10,587	11,875
Accruals and deferred income	934	900
	15,780	14,893

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CANONBURY BUILDERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

7.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

	Net obligations under finance leases and hire purchase contracts	1,806	3,904

8.	Deferred taxation

		2024
		£

	At beginning of year	(2,434)
	Charged to profit or loss	(141)
	At end of year	(2,575)

The provision for deferred taxation is made up as follows:
	2024	2023
	£	£

Accelerated capital allowances	2,575	3,433
Tax losses carried forward	-	(999)
	2,575	2,434

9.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

1 (2023 - 1) Ordinary share of £1.00	1	1

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