JW_CANNON_&_CO_(1948)_LIM - Accounts

The directors present their report and financial statements for the year ended 31 October 2013.

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JW Cannon & Co (1948) Limited for the year ended 31 October 2013 set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of JW Cannon & Co (1948) Limited, as a body, in accordance with the terms of our engagement letter dated 7 October 2013. Our work has been undertaken solely to prepare for your approval the financial statements of JW Cannon & Co (1948) Limited and state those matters that we have agreed to state to the Board of Directors of JW Cannon & Co (1948) Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JW Cannon & Co (1948) Limited and it's Board of Directors as a body, for our work or for this report.

It is your duty to ensure that JW Cannon & Co (1948) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of JW Cannon & Co (1948) Limited. You consider that JW Cannon & Co (1948) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of JW Cannon & Co (1948) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Directors' responsibilities:

Approved by the Board and authorised for issue on 11 July 2014

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.  The deferred tax balance has not been discounted.