Canec Ltd - Accounts to registrar (filleted) - small 18.2
Canec Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
| FOR |
| CANEC LTD |
| CANEC LTD (REGISTERED NUMBER: 10373821) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| CANEC LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Tax Advisers, Accountants |
| and Business Consultants |
| Unit 4 Brunel Buildings |
| Brunel Road |
| Newton Abbot |
| Devon |
| TQ12 4PB |
| BANKERS: |
| 9 Fore Street |
| Totnes |
| Devon |
| TQ9 5DB |
| CANEC LTD (REGISTERED NUMBER: 10373821) |
| BALANCE SHEET |
| 30 SEPTEMBER 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| CANEC LTD (REGISTERED NUMBER: 10373821) |
| BALANCE SHEET - continued |
| 30 SEPTEMBER 2018 |
| 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 on on its behalf by: |
| CANEC LTD (REGISTERED NUMBER: 10373821) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
| 1. | STATUTORY INFORMATION |
| Canec Ltd is a |
| 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 |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding |
| discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance |
| for obsolete and slow moving items. |
| 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. |
| CANEC LTD (REGISTERED NUMBER: 10373821) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the |
| balance sheet. Those held under hire purchase contracts are depreciated over their |
| estimated useful lives. Those held under finance leases are depreciated over their estimated |
| useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. |
| The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over |
| the period of the lease. |
| Going concern |
| The company meets its day to day working capital requirements through a loan provided by |
| Mr S & Mrs R O'Connell, Directors of the company. They will continue to support the company |
| in this way until such times as profits are made. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2017 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor | Computer |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 October 2017 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 September 2018 |
| DEPRECIATION |
| At 1 October 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 September 2018 |
| NET BOOK VALUE |
| At 30 September 2018 |
| At 30 September 2017 |
| CANEC LTD (REGISTERED NUMBER: 10373821) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as |
| follows: |
| Motor |
| vehicles |
| £ |
| COST |
| Additions |
| At 30 September 2018 |
| DEPRECIATION |
| Charge for year |
| At 30 September 2018 |
| NET BOOK VALUE |
| At 30 September 2018 |
| 5. | STOCKS |
| 2018 | 2017 |
| £ | £ |
| Stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Amounts recoverable on contract |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Other loans |
| Hire purchase contracts |
| Trade creditors |
| Other creditors |
| Directors' current accounts |
| Accrued expenses |
| CANEC LTD (REGISTERED NUMBER: 10373821) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Other loans - 2-5 years |
| Hire purchase contracts |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the year ended |
| 30 September 2018 and the period ended 30 September 2017: |
| 2018 | 2017 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Loans are unsecured, interest free and repayable on demand. |
| 10. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |