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Company Registration No. 08806785 (England and Wales)
The Cannon Run Limited Unaudited accounts for the year ended 31 December 2024
The Cannon Run Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
The Cannon Run Limited Company Information for the year ended 31 December 2024
Directors
James Louis Cannon Hayley Joanne Waldie James Edward Waldie
Company Number
08806785 (England and Wales)
Registered Office
The Brew House Unit 1 Newgate White Lund Industrial Estate Morecambe Lancashire LA3 3PT England
Accountants
Walling Accountants Unit 1B Hallidays Farm Bilsborrow Preston PR3 0RU
- 3 -
The Cannon Run Limited Statement of financial position as at 31 December 2024
2024
2023
Notes
£
£
Fixed assets
Intangible assets
4
-
15,000
Tangible assets
5
809,822
11,947
809,822
26,947
Current assets
Inventories
401,779
2,052,729
Debtors
6
411,441
424,743
Cash at bank and in hand
26,659
22,529
839,879
2,500,001
Creditors: amounts falling due within one year
7
(791,699)
(995,788)
Net current assets
48,180
1,504,213
Total assets less current liabilities
858,002
1,531,160
Creditors: amounts falling due after more than one year
8
(786,370)
(1,854,944)
Net assets/(liabilities)
71,632
(323,784)
Capital and reserves
Called up share capital
100
100
Profit and loss account
71,532
(323,884)
Shareholders' funds
71,632
(323,784)
For the year ending 31 December 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 directors acknowledge their 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 of Directors and authorised for issue on 15 February 2026 and were signed on its behalf by
James Edward Waldie Director Company Registration No. 08806785
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The Cannon Run Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
The Cannon Run Limited is a private company, limited by shares, registered in England and Wales, registration number 08806785. The registered office is The Brew House Unit 1, Newgate, White Lund Industrial Estate, Morecambe, Lancashire, LA3 3PT, England.
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:
Plant & machinery
20% straight line
Motor vehicles
0-25% reducing balance
Fixtures & fittings
20% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
- 5 -
The Cannon Run Limited Notes to the Accounts for the year ended 31 December 2024
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.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Intangible fixed assets
Other
£
Cost
At 1 January 2024
15,000
Disposals
(15,000)
At 31 December 2024
-
Amortisation
At 1 January 2024
-
At 31 December 2024
-
Net book value
At 31 December 2024
-
At 31 December 2023
15,000
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
-
-
53,472
53,472
Additions
3,700
837,830
8,357
849,887
At 31 December 2024
3,700
837,830
61,829
903,359
Depreciation
At 1 January 2024
-
-
41,525
41,525
Charge for the year
185
48,306
3,521
52,012
At 31 December 2024
185
48,306
45,046
93,537
Net book value
At 31 December 2024
3,515
789,524
16,783
809,822
At 31 December 2023
-
-
11,947
11,947
6
Debtors
2024
2023
£
£
Amounts falling due within one year
Trade debtors
-
118,037
Accrued income and prepayments
130,639
196,504
Other debtors
280,802
110,202
411,441
424,743
- 6 -
The Cannon Run Limited Notes to the Accounts for the year ended 31 December 2024
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
11,702
10,080
VAT
25,304
51,549
Obligations under finance leases and hire purchase contracts
155,380
116,057
Trade creditors
25,000
124,009
Taxes and social security
6,220
3,307
Other creditors
389,564
-
Loans from directors
57,231
-
Accruals
14,438
9,000
Deferred income
106,860
681,786
791,699
995,788
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
5,577
18,518
Obligations under finance leases and hire purchase contracts
780,793
921,291
Other creditors
-
915,135
786,370
1,854,944
9
Average number of employees
During the year the average number of employees was 4 (2023: 4).
- 7 -