REGISTERED NUMBER: 08432081 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Cannon Freight Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I Baynham

S J Baynham

REGISTERED OFFICE:

7 Cannon Road

Wombourne

Wolverhampton

WV5 9HR

REGISTERED NUMBER:

08432081 (England and Wales)

FIXED ASSETS

Tangible assets

4

335,945

329,559

CURRENT ASSETS

Debtors

5

41,275

62,550

CREDITORS

Amounts falling due within one year

6

228,510

255,789

NET CURRENT LIABILITIES

(187,235

)

(193,239

)

TOTAL ASSETS LESS CURRENT LIABILITIES

148,710

136,320

PROVISIONS FOR LIABILITIES

45,348

40,078

NET ASSETS

103,362

96,242

CAPITAL AND RESERVES

Called up share capital

7

10

10

Retained earnings

103,352

96,232

SHAREHOLDERS' FUNDS

103,362

96,242

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 profit or loss 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 Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 December 2025 and were signed on its behalf by:

I Baynham - Director

1.	STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

5% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 April 2024

378,338

12,300

1,345

391,983

Additions

26,100

-

-

26,100

At 31 March 2025

404,438

12,300

1,345

418,083

DEPRECIATION

At 1 April 2024

58,430

3,075

919

62,424

Charge for year

17,301

2,306

107

19,714

At 31 March 2025

75,731

5,381

1,026

82,138

NET BOOK VALUE

At 31 March 2025

328,707

6,919

319

335,945

At 31 March 2024

319,908

9,225

426

329,559

Cost or valuation at 31 March 2025 is represented by:

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

Valuation in 2022

100,000

-

-

100,000

Cost

304,438

12,300

1,345

318,083

404,438

12,300

1,345

418,083

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Fixtures

and

fittings

£

COST OR VALUATION

At 1 April 2024

and 31 March 2025

113,150

DEPRECIATION

At 1 April 2024

7,339

Charge for year

6,596

At 31 March 2025

13,935

NET BOOK VALUE

At 31 March 2025

99,215

At 31 March 2024

105,811

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

32,309

45,348

Other debtors

8,966

17,202

41,275

62,550

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

43,663

39,142

Hire purchase contracts

64,971

92,988

Trade creditors

31,075

38,993

Taxation and social security

11,713

19,225

Other creditors

77,088

65,441

228,510

255,789

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

10

Ordinary

£1

10

10

8.	OFF-BALANCE SHEET ARRANGEMENTS

Lease commitments at the year end totalled £76,000.