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true
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No description of principal activity
2017-09-01
Sage Accounts Production Advanced 2017 Update 2 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
03829412
2017-09-01
2018-08-31
03829412
2018-08-31
03829412
2017-08-31
03829412
2016-09-01
2017-08-31
03829412
2017-08-31
03829412
core:NetGoodwill
2017-09-01
2018-08-31
03829412
core:FurnitureFittings
2017-09-01
2018-08-31
03829412
core:MotorVehicles
2017-09-01
2018-08-31
03829412
bus:RegisteredOffice
2017-09-01
2018-08-31
03829412
bus:Director1
2017-09-01
2018-08-31
03829412
bus:Director2
2017-09-01
2018-08-31
03829412
bus:Director3
2017-09-01
2018-08-31
03829412
bus:Director4
2017-09-01
2018-08-31
03829412
bus:CompanySecretary1
2017-09-01
2018-08-31
03829412
core:WithinOneYear
2018-08-31
03829412
core:WithinOneYear
2017-08-31
03829412
core:ShareCapital
2018-08-31
03829412
core:ShareCapital
2017-08-31
03829412
core:RetainedEarningsAccumulatedLosses
2018-08-31
03829412
core:RetainedEarningsAccumulatedLosses
2017-08-31
03829412
bus:FRS102
2017-09-01
2018-08-31
03829412
bus:AuditExempt-NoAccountantsReport
2017-09-01
2018-08-31
03829412
bus:AbridgedAccounts
2017-09-01
2018-08-31
03829412
bus:SmallCompaniesRegimeForAccounts
2017-09-01
2018-08-31
03829412
bus:PrivateLimitedCompanyLtd
2017-09-01
2018-08-31
03829412
core:OfficeEquipment
2017-09-01
2018-08-31
Statement of Consent to Prepare Abridged Financial Statements
|
|
All of the members of CANNONCRAFT LIMITED have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 August 2018 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
03829412
Filleted Unaudited Abridged Financial Statements
|
|
Abridged Financial Statements
|
|
Year ended 31 August 2018
Abridged statement of financial position
|
2
|
|
|
Notes to the abridged financial statements
|
4
|
|
|
Year ended 31 August 2018
The directors present their report and the unaudited abridged financial statements of the company for the year ended
31 August 2018
.
Directors
The directors who served the company during the year were as follows:
A Fletcher
|
|
P K Torry
|
|
J D Fletcher
|
|
K A Torry
|
|
|
|
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
10 May 2019
and signed on behalf of the board by:
A Fletcher
|
P K Torry
|
Director
|
Director
|
|
|
A Fletcher
|
|
Company Secretary
|
|
|
|
Registered office:
|
Bridge Works
|
Alfreton Road
|
Derby
|
DE21 4AQ
|
|
Abridged Statement of Financial Position
|
|
31 August 2018
Fixed assets
Intangible assets
|
5
|
|
1
|
1
|
Tangible assets
|
6
|
|
106,714
|
116,614
|
|
|
---------
|
---------
|
|
|
106,715
|
116,615
|
|
|
|
|
|
Current assets
Stocks
|
7,240
|
|
5,925
|
Debtors
|
106,082
|
|
94,729
|
Cash at bank and in hand
|
73,325
|
|
73,331
|
|
---------
|
|
---------
|
|
186,647
|
|
173,985
|
|
|
|
|
Creditors: amounts falling due within one year
|
55,773
|
|
58,453
|
|
---------
|
|
---------
|
Net current assets
|
|
130,874
|
115,532
|
|
|
---------
|
---------
|
Total assets less current liabilities
|
|
237,589
|
232,147
|
|
|
---------
|
---------
|
Net assets
|
|
237,589
|
232,147
|
|
|
---------
|
---------
|
|
|
|
|
Abridged Statement of Financial Position (continued)
|
|
31 August 2018
Capital and reserves
Called up share capital
|
|
100
|
100
|
Profit and loss account
|
|
237,489
|
232,047
|
|
|
---------
|
---------
|
Members funds
|
|
237,589
|
232,147
|
|
|
---------
|
---------
|
|
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
For the year ending 31 August 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
10 May 2019
, and are signed on behalf of the board by:
A Fletcher
|
P K Torry
|
Director
|
Director
|
|
|
Company registration number:
03829412
Notes to the Abridged Financial Statements
|
|
Year ended 31 August 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bridge Works, Alfreton Road, Derby, DE21 4AQ.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill
|
-
|
10% straight line
|
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Computer equipment
|
-
|
33% reducing balance
|
|
Motor vehicles
|
-
|
25% reducing balance
|
|
Equipment
|
-
|
15% reducing balance
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
7
(2017:
8
).
5.
Intangible assets
|
£
|
Cost
|
|
At 1 September 2017 and 31 August 2018
|
25,000
|
|
--------
|
Amortisation
|
|
At 1 September 2017 and 31 August 2018
|
24,999
|
|
--------
|
Carrying amount
|
|
At 31 August 2018
|
1
|
|
--------
|
|
|
6.
Tangible assets
|
£
|
Cost
|
|
At 1 September 2017 and 31 August 2018
|
306,528
|
|
---------
|
Depreciation
|
|
At 1 September 2017
|
189,914
|
Charge for the year
|
9,900
|
|
---------
|
At 31 August 2018
|
199,814
|
|
---------
|
Carrying amount
|
|
At 31 August 2018
|
106,714
|
|
---------
|
At 31 August 2017
|
116,614
|
|
---------
|
|
|
7.
Directors' advances, credits and guarantees
The directors' loan accounts were in credit at the year end so no disclosure is required.