Canela Limited - Filleted accounts

Registered number

09152388

Canela Limited

Unaudited

Filleted financial statements

30 April 2025

Canela Limited
Registered number:		09152388
Balance Sheet
as at 30 April 2025
Notes			2025			2024
£				£
Fixed assets
Investment properties	5		1,869,915			1,869,915
			1,869,915			1,869,915
Current assets
Debtors	6	-			1,002
Cash at bank and in hand		6,668			2,839
		6,668			3,841
Creditors: amounts falling due within one year	7	(15,008)			(41,732)

Net current liabilities			(8,340)			(37,891)

Total assets less current liabilities			1,861,575			1,832,024

Creditors: amounts falling due after more than one year	8		(1,397,483)			(1,370,381)

Provisions for liabilities	10		(89,000)			(89,000)

Net assets			375,092			372,643

Capital and reserves
Called up share capital	11		200			200
Fair value reserve	12		341,170			341,170
Profit and loss account	12		33,722			31,273

Shareholders' funds			375,092			372,643

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.



D J Miles
Director
Approved by the board on 29 December 2025

The notes form part of these financial statements

Canela Limited
Notes to the Financial Statements
for the year ended 30 April 2025

1	General information

	Canela Limited is a private company limited by shares and incorporated in England. Its registered office is:
	2 Church Row
	Chislehurst
	England
	BR7 5PG

2	Accounting policies

	Basis of preparation
	The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of 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:

	Turnover
	Turnover comprises of rental income. Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

	Investment property
	Investment property, which is property held to earn rentals and/or for capital appreciation is initially recognised at cost, which includes the purchase cost and any direct attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the income statement. Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

	Debtors
	Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

	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	Accounting policies (continued)

	Financial instruments
	The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
	Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

	Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of comprehensive income.

	Creditors
	Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

	Dividends
	Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

	Borrowing costs
	All borrowing costs are recognised in the income statement in the year in which they are incurred.
	Taxation
	Taxation of the year comprises current and deferred tax. Tax is recognised in the income statement, except to the extend 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 is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

2	Accounting policies (continued)

	Taxation (continued)

	Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date.
	Timing difference arise from the inclusion of income and expenses in tax assessment 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 labilities or other future taxable profits.


3	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			2		2


4	Taxation

	Analysis of the tax charge
	The tax charge on the profit for the year was as follows:
				2025		2024
£					£
	Current tax:
	UK corporation tax			-		(1,661)
	Adjustments in respect of prior periods			1,002		-
	Deferred tax			-		17,221
	Tax on profit			1,002		15,560

5	Investment properties
				Freehold investment properties		Total
£					£
	Valuation
	At 1 May 2024			1,869,915		1,869,915
	Surplus on revaluation			-		-
	At 30 April 2025			1,869,915		1,869,915


	Comprising:					2025
£
	Cost					1,439,745
	Annual revaluation surplus:
	2016					125,000
	2017					45,170
	2018					-
	2019					30,000
	2020					75,000
	2021					45,000
	2022					80,000
	2023					-
	2024					30,000
	2025					-
	At 30 April 2025					1,869,915

	The directors revalued the investment properties at the year end and prior year end.
£
	Historic cost					1,439,745
						1,439,745


6	Debtors			2025		2024
£					£

	Other debtors			-		1,002
				-		1,002


7	Creditors: amounts falling due within one year			2025		2024
£					£

	Bank loan and mortgages (secured)			-		16,124
	Corporation tax			-		-
	Other creditors			15,008		25,608
				15,008		41,732


8	Creditors: amounts falling due after one year			2025		2024
£					£

	Bank loans			776,500		777,642
	Amounts due to directors			607,115		581,538
	Amounts due to shareholders			13,868		11,201
				1,397,483		1,370,381


9	Loans			2025		2024
£					£
	Creditors include:
	Amounts falling due 2-5 years			776,500		777,642
				776,500		777,642


	Secured bank loans			776,500		777,642

	On 2 April 2025, the company consolidated the existing mortgages into one mortgage with a term of 5 years. Interest is payable at a rate of 1.75% over Bank of England Base rate. Security is by way of a first legal charge over the investment properties and a deed of postponement in respect of £426,000 owed by Canela Limited to a Directors Loan in favour of S J Miles.


10	Provision for deferred tax			2025		2024
£					£

	At 1 May 2024			89,000		71,779
	Provided during the year			-		17,221
	At 30 April 2025			89,000		89,000


11	Share capital			2025		2024
£					£
	Shares classified as equity
	Allotted, called up and fully paid
	200 Ordinary shares of £1 each			200		200
				200		200

12	Reserves
		Profit and loss reserve		Fair value reserve		Total
£			£		£

	At 1 May 2024	31,273		341,170		372,443
	Profit for the year	2,449		-		2,449
	Dividends	-		-		-
	Reserve transfer - revaluation	-		-		-
	Reserve transfer - deferred tax	-		-		-
	At 30 April 2025	33,722		341,170		374,892

13	Events after the reporting date

	There were no events after the reporting date that require disclosure.

14	Contingent liabilities

	The company has no contingent liabilities at the year end.

15	Related party transactions

	In respect of security required by the lender of the mortgage, there is a deed of postponement & subordination in respect of the amount owed by the company to a Directors Loan in favour of S J Miles.

16	Controlling party

	The company is controlled by the directors who are also the shareholders of the company.