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(1) General Information
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| The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is Bayside Business Centre 1 Sovereign Business Park, Poole, BH15 3TB. |
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(2) Significant Accounting Policies
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Basis of Preparation
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| The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover
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| Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 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. |
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Tangible Fixed Assets
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets,
other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: | | Asset class and depreciation rate | | Land and Buildings | | | Plant and Machinery | | | Short Leasehold Properties | | | Investment Properties | | | Long Leasehold Properties | | | Commercial Vehicles | | | Fixtures and Fittings | | | Equipment | 20% reducing balance | | Motor Cars | |
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Financial instruments
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The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, cash and cash equivalents, trade and other payables, and loans and borrowings.
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instruments. Financial assets and financial liabilities are initially measured at fair value. |
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Debtors
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| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors
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| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation
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| A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Pensions
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| Contributions to defined contribution plans are expensed in the period to which they relate. |
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(3) Employees
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| During the year, the average number of employees including director was 3 (2025 : 3). |
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(4) Debtors
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Amounts falling due within one year
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| | | 2026 | | 2025 | | £ | | £ | | | Trade debtors | 4,956 | | 9,593 | | Other debtors | 119,950 | | 35,265 | | | | | | 124,906 | | 44,858 |
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(5) Cash at bank and in hand
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| | | 2026 | | 2025 | | £ | | £ | | | Bank balance | 9,648 | | 18,147 | | | | | | 9,648 | | 18,147 |
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(6) Creditors: Amounts falling due within one year
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| | | 2026 | | 2025 | | £ | | £ | | | | | | | Bank loans and overdrafts | - | | 10,269 | | | | | | | | | | Other creditors | 18,446 | | 8,822 | | Accruals and deferred income | 502 | | 3,702 | | 18,948 | | 22,793 |
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(7) Creditors: Amounts falling due after more than one year
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| | | 2026 | | 2025 | | £ | | £ | | | Bank loans and overdrafts | 24,337 | | 31,279 | | | | | | | | | | 24,337 | | 31,279 |
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(8) Fixed assets
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| Tangible
£ | | Cost | | | As at 01 April 2025 | 2,615 | | Additions | 470 | | As at 31 March 2026 | 3,085 | | Depreciation/Amortisation | | | As at 01 April 2025 | 1,439 | | For the year | 321 | | As at 31 March 2026 | 1,760 | | Net book value | | | As at 31 March 2026 | 1,325 | | As at 31 March 2025 | 1,176 |
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(9) Going Concern Disclosure
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| The director has not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. |
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(10) Other information
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| Canford Financial Services Limited is a private company limited by shares and incorporated in England. |
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