Registration number: 01257541

Canaan Carbides Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 6

Canaan Carbides Limited

(Registration number: 01257541)
Balance Sheet as at 30 September 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	14,319	15,033
Current assets
Stocks	5	3,655	3,599
Debtors	6	38,442	25,644
Cash at bank and in hand		9,398	33,476
		51,495	62,719
Creditors: Amounts falling due within one year	7	(68,781)	(57,001)
Net current (liabilities)/assets		(17,286)	5,718
Total assets less current liabilities		(2,967)	20,751
Creditors: Amounts falling due after more than one year	7	(1,139)	(7,977)
Net (liabilities)/assets		(4,106)	12,774
Capital and reserves
Called up share capital	8	2,550	2,550
Other reserves		2,450	2,450
Retained earnings		(9,106)	7,774
Shareholders' (deficit)/funds		(4,106)	12,774

For the financial year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 June 2026
 

......................................... D Buckland Director

Canaan Carbides Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Briar Close Business Park
Evesham
Worcestershire
WR11 4JT
United Kingdom

These financial statements were authorised for issue by the director on 2 June 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for provision of selling and manufacturing of tungsten carbide tooling in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Canaan Carbides Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Leasehold improvements	10% Straight line
Plant and machinery	6.67% Straight line
Fixtures and equipment	33.33% Straight line
Motor vehicles	20% Straight line
Computer equipment	33.33% Straight line

As at 1 October 2021 the company elected to change the depreciation rate of plant and machinery from 10% straight line to 6.67% straight line. This change was adopted to reflect a more accurate view of the useful economic life of the assets held. This change resulted in a reduction of the depreciation charge in the current year of £2,040 and no change has been made to any prior year figures.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Canaan Carbides Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2024 - 5).

Canaan Carbides Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

4	Tangible assets

	Leasehold improvements  £	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £
Cost or valuation
At 1 October 2024	20,899	12,872	262,185	22,695
Additions	-	-	1,578	-
At 30 September 2025	20,899	12,872	263,763	22,695
Depreciation
At 1 October 2024	20,899	12,872	247,152	22,695
Charge for the year	-	-	2,292	-
At 30 September 2025	20,899	12,872	249,444	22,695
Carrying amount
At 30 September 2025	-	-	14,319	-
At 30 September 2024	-	-	15,033	-

	Total £
Cost or valuation
At 1 October 2024	318,651
Additions	1,578
At 30 September 2025	320,229
Depreciation
At 1 October 2024	303,618
Charge for the year	2,292
At 30 September 2025	305,910
Carrying amount
At 30 September 2025	14,319
At 30 September 2024	15,033

5

Stocks

	2025 £	2024 £
Finished goods and goods for resale	3,655	3,599

Canaan Carbides Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

6

Debtors

Current	2025 £	2024 £
Trade debtors	29,866	20,173
Prepayments	5,860	5,471
Other debtors	2,716	-
	38,442	25,644

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Loans and borrowings	6,837	6,837
Trade creditors	31,744	24,322
Taxation and social security	9,705	13,452
Accruals and deferred income	2,865	4,234
Other creditors	17,630	8,156
	68,781	57,001