Company registration number 01889679 (England and Wales)
I. J. CANNINGS & SON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
I. J. CANNINGS & SON LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
I. J. CANNINGS & SON LIMITED
BALANCE SHEET
AS AT
31 MAY 2025
31 May 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
152,330
209,164
Current assets
Stocks
20,550
7,432
Debtors
4
907,702
895,434
Cash at bank and in hand
55
85
928,307
902,951
Creditors: amounts falling due within one year
5
(642,475)
(653,363)
Net current assets
285,832
249,588
Total assets less current liabilities
438,162
458,752
Creditors: amounts falling due after more than one year
6
(17,216)
(39,984)
Provisions for liabilities
(21,271)
(32,657)
Net assets
399,675
386,111
Capital and reserves
Called up share capital
1,000
1,000
Capital redemption reserve
200
200
Profit and loss reserves
398,475
384,911
Total equity
399,675
386,111
I. J. CANNINGS & SON LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2025
31 May 2025
- 2 -

For the financial year ended 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 13 February 2026 and are signed on its behalf by:
Mr B W Cannings
Ms J Ali-Hassan
Director
Director
Company registration number 01889679 (England and Wales)
I. J. CANNINGS & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 3 -
1
Accounting policies
Company information

I. J. Cannings & Son Limited is a private company limited by shares incorporated in England and Wales. The registered office is Redlands, Exmouth Road, Clyst St Mary, Exeter, Devon, EX5 1AR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
Computer equipment - 33.33% reducing balance
Other - 25% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

I. J. CANNINGS & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
25
34
I. J. CANNINGS & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2024
504,310
Additions
30,888
Disposals
(134,472)
At 31 May 2025
400,726
Depreciation and impairment
At 1 June 2024
295,146
Depreciation charged in the year
44,967
Eliminated in respect of disposals
(91,717)
At 31 May 2025
248,396
Carrying amount
At 31 May 2025
152,330
At 31 May 2024
209,164
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
371,573
343,677
Amounts owed by group undertakings and undertakings in which the company has a participating interest
440,643
509,433
Other debtors
95,486
42,324
907,702
895,434
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
95,446
105,268
Trade creditors
166,170
240,858
Amounts owed to group undertakings and undertakings in which the company has a participating interest
77,603
854
Taxation and social security
123,214
119,844
Other creditors
180,042
186,539
642,475
653,363
I. J. CANNINGS & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
5
Creditors: amounts falling due within one year
(Continued)
- 6 -

The bank overdraft is secured by unlimited debentures incorporating fixed and floating charges over the assets in this company and related companies.

Included in o ther creditors are £30,539 (2024: £54,498) which are n et obligations under finance lease and hire purchase contracts and secured by fixed charges on the assets concerned.

6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
4,167
14,167
Other creditors
13,049
25,817
17,216
39,984

Other creditors are n et obligations under hire purchase contracts which are secured by fixed charges on the assets concerned.

7
Financial commitments, guarantees and contingent liabilities

Bank borrowing of fellow group companies, totalling £410k (2024: £430 k), is partially secured over the assets of this company under an omnibus guarantee.

8
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
92,057
91,484
I. J. CANNINGS & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 7 -
9
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
Loan
3.75
-
47,483
1,449
48,932
-
47,483
1,449
48,932
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