REGISTERED NUMBER: 05034935 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2025

for

Canvas Man Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs F Salisbury

Mr C Salisbury

REGISTERED OFFICE:

Unit 5 Sapper Jordan Rossi Park

Baildon

Shipley

REGISTERED NUMBER:

05034935 (England and Wales)

ACCOUNTANTS:

Wild & Co Chartered Accountants

Windsor House

Cornwall Road

Harrogate

HG1 2PW

FIXED ASSETS

Intangible assets

4

1,362

1,612

Tangible assets

5

1,016,463

1,065,978

1,017,825

1,067,590

CURRENT ASSETS

Stocks

166,989

143,236

Debtors

224,249

272,671

Cash at bank and in hand

283,515

240,118

674,753

656,025

CREDITORS

Amounts falling due within one year

497,957

541,945

NET CURRENT ASSETS

176,796

114,080

TOTAL ASSETS LESS CURRENT LIABILITIES

1,194,621

1,181,670

CREDITORS

Amounts falling due after more than one year

(517,062

)

(533,990

)

PROVISIONS FOR LIABILITIES

7

(41,956

)

(54,397

)

NET ASSETS

635,603

593,283

CAPITAL AND RESERVES

Called up share capital

8

100

100

Unrealised reserve

148,410

131,410

Retained earnings

487,093

461,773

SHAREHOLDERS' FUNDS

635,603

593,283

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 August 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 November 2025 and were signed on its behalf by:

Mr C Salisbury - Director

1.	STATUTORY INFORMATION

Canvas Man Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance and Straight line over 4 years

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent 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

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments 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 liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

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 lease 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 statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest charged to profit and loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to the profit and loss on a straight line basis over the terms of the relevant lease except where another more systematic basis is more representative of the time pattern in which the economic benefits from the leases are consumed.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Property asset class

All freehold properties in the property asset class, are measured under the revaluation model.

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the profit and loss account at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in "other income" within profit or loss in the same period as the related expenditure. The company has not directly benefited from any other forms of government assistance.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date because of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in the profit and loss unless the provision was originally recognised as part of the cost of an asset.

When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit and loss in the period it arises.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2024 - 24 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2024

and 31 August 2025

53,100

AMORTISATION

At 1 September 2024

51,488

Amortisation for year

250

At 31 August 2025

51,738

NET BOOK VALUE

At 31 August 2025

1,362

At 31 August 2024

1,612

5.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 September 2024

1,522,242

Additions

4,113

Disposals

(6,514

)

At 31 August 2025

1,519,841

DEPRECIATION

At 1 September 2024

456,264

Charge for year

69,588

Eliminated on disposal

(5,474

)

Revaluation adjustments

(17,000

)

At 31 August 2025

503,378

NET BOOK VALUE

At 31 August 2025

1,016,463

At 31 August 2024

1,065,978

Cost or valuation at 31 August 2025 is represented by:

Totals

£

Valuation in 2022

1,312,652

Valuation in 2023

83,376

Valuation in 2024

126,214

Valuation in 2025

(2,401

)

1,519,841

If freehold property had not been revalued they would have been included at the following historical cost:

31.8.25

31.8.24

£

£

Cost

799,286

799,286

Aggregate depreciation

(119,693

)

(105,497

)

Freehold property were valued on an open market basis on 5 September 2023 by Bramleys .

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.25

31.8.24

£

£

Bank Loan

410,070

430,673

Loans of £410,070 (FY24 - £430,673) are secured by a fixed and floating charge over the assets of the company.

7.	PROVISIONS FOR LIABILITIES

31.8.25

31.8.24

£

£

Deferred tax

41,956

54,397

Deferred

tax

£

Balance at 1 September 2024

54,397

Credit to Income Statement during year

(12,441

)

Balance at 31 August 2025

41,956

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.25

31.8.24

value:

£

£

NIL

-

-

51

A Ordinary Shares

£1

51

51

49

B Ordinary Shares

£1

49

49

100

100

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2025 and 31 August 2024:

31.8.25

31.8.24

£

£

Mr C Salisbury and Mrs F Salisbury

Balance outstanding at start of year

-

(28,246

)

Amounts advanced

(252

)

(103

)

Amounts repaid

-

28,349

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(252

)

-

10.	RELATED PARTY DISCLOSURES

Director loan of £252 is money advanced to the Company by the Director as at 31 August 2025. The loan is unsecured and interest-free. The loan is repayable on demand.