REGISTERED NUMBER:
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CANNON STREET CAPITAL LIMITED |
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Unaudited Financial Statements |
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for the Year Ended 31 July 2021 |
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REGISTERED NUMBER:
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CANNON STREET CAPITAL LIMITED |
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Unaudited Financial Statements |
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for the Year Ended 31 July 2021 |
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CANNON STREET CAPITAL LIMITED (REGISTERED NUMBER: 07746693) |
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Contents of the Financial Statements |
for the year ended 31 July 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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CANNON STREET CAPITAL LIMITED |
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Company Information |
for the year ended 31 July 2021 |
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Director: |
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Registered office: |
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Registered number: |
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Accountants: |
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Chartered Accountants |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
CANNON STREET CAPITAL LIMITED (REGISTERED NUMBER: 07746693) |
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Balance Sheet |
31 July 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Investments | 5 |
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Current assets |
Stocks |
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Debtors | 6 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 7 |
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Net current liabilities | ( |
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Total assets less current liabilities | ( |
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Creditors |
Amounts falling due after more than one
year |
8 |
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Net liabilities | ( |
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Capital and reserves |
Called up share capital | 9 |
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Retained earnings | 10 | ( |
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Shareholders' funds | ( |
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The director acknowledges its 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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CANNON STREET CAPITAL LIMITED (REGISTERED NUMBER: 07746693) |
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Notes to the Financial Statements |
for the year ended 31 July 2021 |
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1. | Statutory information |
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Cannon Street Capital Limited is a
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Going Concern |
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At the time of approval the director has confirmed the continued support of the company to meet it's financial commitments for a minimum of 12 months. This support will be provided personally or via a company under common control. For this reason the accounts have been prepared on a going concern basis. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Government grants |
During the year the company benefited from £34,814 of government grant in the form of Coronavirus Job Retention Scheme. In accordance with our accounting policy this credit is included in other income within the Income Statement over the same period as the staff costs for which it compensates. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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Fixed asset investments |
Fixed asset investments are recognised at cost less impairment. |
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3. | Employees and directors |
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The average number of employees during the year was
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CANNON STREET CAPITAL LIMITED (REGISTERED NUMBER: 07746693) |
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Notes to the Financial Statements - continued |
for the year ended 31 July 2021 |
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4. | Tangible fixed assets |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
Cost |
At 1 August 2020 |
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Disposals |
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At 31 July 2021 |
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Depreciation |
At 1 August 2020 |
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Charge for year |
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Eliminated on disposal |
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At 31 July 2021 |
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Net book value |
At 31 July 2021 |
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At 31 July 2020 |
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5. | Fixed asset investments |
Other |
investments |
£ |
Cost |
At 1 August 2020 |
and 31 July 2021 |
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Net book value |
At 31 July 2021 |
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At 31 July 2020 |
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Financial assets for which fair value cannot be measured reliably |
The company holds a 50% interest in the following companies incorporated incorporated in the British Virgin Islands. |
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Eagle Crest (Consett) Ltd |
Eagle Crest (Wolverhampton) Ltd |
Eagle Crest (Folkestone) Ltd |
Eagle Crest (Maidstone) Ltd |
Eagle Crest (Derby) Ltd |
Eagle Crest (Worcester) Ltd |
Eagle Crest (Sunderland) Ltd |
Eagle Crest (Portsmouth) Ltd |
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There is currently no reliable measure for determining the fair value of this investment, therefore it is included at cost on the balance sheet. |
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6. | Debtors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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CANNON STREET CAPITAL LIMITED (REGISTERED NUMBER: 07746693) |
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Notes to the Financial Statements - continued |
for the year ended 31 July 2021 |
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7. | Creditors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | Creditors: amounts falling due after more than one year |
2021 | 2020 |
£ | £ |
Other creditors |
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9. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | £1 | 10,000 | 10,000 |
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10. | Reserves |
Retained |
earnings |
£ |
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At 1 August 2020 | ( |
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Deficit for the year | ( |
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At 31 July 2021 | ( |
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11. | Related party disclosures |
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At the year end the company owed £1,247,791 (2020: £1,445,095) to Eagle Crest Business Holdings Ltd, a company owned and controlled by the director, S Marks. this amount is included in other creditors. |
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12. | Directors' transactions |
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Included in other debtors is an amount of £113,922 (2020: £103,366) due from the director of the company, S Marks. Interest of £3,614 (2020: £540) was charged. This overdrawn loan balance has since been writen off. |