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Unaudited Financial Statements for the Year Ended 30 December 2020 |
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CANNONCOURT LIMITED |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 December 2020 |
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for |
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CANNONCOURT LIMITED |
CANNONCOURT LIMITED (Registered number: 02675785) |
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Contents of the Financial Statements |
for the Year Ended 30 December 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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CANNONCOURT LIMITED |
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Company Information |
for the Year Ended 30 December 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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CANNONCOURT LIMITED (Registered number: 02675785) |
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Balance Sheet |
30 December 2020 |
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30.12.20 | 30.12.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 9 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | 10 |
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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. |
CANNONCOURT LIMITED (Registered number: 02675785) |
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Balance Sheet - continued |
30 December 2020 |
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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 Board of Directors and authorised for issue on
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CANNONCOURT LIMITED (Registered number: 02675785) |
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Notes to the Financial Statements |
for the Year Ended 30 December 2020 |
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1. | STATUTORY INFORMATION |
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CANNONCOURT LIMITED is a
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2. | ACCOUNTING POLICIES |
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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. |
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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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Computer equipment | - |
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Investment property |
The company's investment properties are held for long term investment and are included in the balance sheet at their fair values. Depreciation is not provided in respect of freehold investment properties. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2019 - NIL). |
CANNONCOURT LIMITED (Registered number: 02675785) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 December 2020 |
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4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 31 December 2019 |
and 30 December 2020 |
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DEPRECIATION |
At 31 December 2019 |
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Charge for year |
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At 30 December 2020 |
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NET BOOK VALUE |
At 30 December 2020 |
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At 30 December 2019 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST OR VALUATION |
At 31 December 2019 |
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Additions |
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Revaluations |
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At 30 December 2020 |
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NET BOOK VALUE |
At 30 December 2020 |
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At 30 December 2019 |
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Cost or valuation at 30 December 2020 is represented by: |
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Other |
investments |
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Valuation in 2017 | 10,688 |
Valuation in 2018 | (6,082 | ) |
Valuation in 2019 | 18,013 |
Valuation in 2020 | 5,999 |
Cost | 142,236 |
170,854 |
CANNONCOURT LIMITED (Registered number: 02675785) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 December 2020 |
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6. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 31 December 2019 |
and 30 December 2020 |
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NET BOOK VALUE |
At 30 December 2020 |
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At 30 December 2019 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.12.20 | 30.12.19 |
£ | £ |
Other debtors & prepayments |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.12.20 | 30.12.19 |
£ | £ |
Trade creditors |
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Corporation Tax |
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Income Tax | 6,800 | - |
Social security and other taxes | ( |
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VAT | 16,183 | 10,549 |
Rent received in advance | 30,383 | 31,857 |
Directors' current accounts | 99,278 | 103,754 |
Accruals & other creditors |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
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Other creditors relate to an unsecured loan from Mr L Breathwick, a director of the company. The loan has no fixed terms of repayment. Interest was charged in the year at the following rates: |
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31 December 2019 - 31 March 2020 at a rate of 11.125%. |
01 April 2020 - 30 December 2020 at a rate of 8.5%. |
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10. | RESERVES |
Retained |
earnings |
£ |
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At 31 December 2019 |
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Profit for the year |
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At 30 December 2020 |
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