The Canvas Group Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09922086 (England and Wales)

The Canvas Group Ltd

Unaudited Financial Statements for the Year Ended 31 December 2019

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

Director:

Mr J E T Slater

Registered office:

597 Preston Road

Chorley

Lancashire

PR6 7EB

Registered number:

09922086 (England and Wales)

Accountants:

RfM Fylde Limited

Summerdale

Head Dyke Lane

Pilling

Preston

Lancashire

PR3 6SJ

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of The Canvas Group Ltd for the year ended 31 December 2019 which comprise the Statement of

Income and Retained Earnings, Balance Sheet and the related notes 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of The Canvas Group Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Canvas Group Ltd and state those matters that we have agreed to state to the director of The Canvas Group Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Canvas Group Ltd and its director for our work or for this report.

It is your duty to ensure that The Canvas Group Ltd 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 The Canvas Group Ltd. You consider that The Canvas Group Ltd 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 The Canvas Group Ltd. 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.

RfM Fylde Limited

Summerdale

Head Dyke Lane

Pilling

Preston

Lancashire

PR3 6SJ

14 April 2020

Fixed assets

Tangible assets

4

1,223

467

Current assets

Debtors

5

21,297

71,872

Cash at bank

562

-

21,859

71,872

Creditors

Amounts falling due within one year

6

12,964

33,848

Net current assets

8,895

38,024

Total assets less current liabilities

10,118

38,491

Provisions for liabilities

-

89

Net assets

10,118

38,402

Capital and reserves

Called up share capital

7

100

100

Retained earnings

10,018

38,302

Shareholders' funds

10,118

38,402

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 April 2020 and were signed by:

Mr J E T Slater - Director

1.	Statutory information

The Canvas Group Ltd is a private company, limited by shares , registered in England and Wales. The 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

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.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

straight line over 3 years

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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.

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.

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.

3.	Employees and directors

The average number of employees during the year was 2 (2018 - 2 ) .

4.	Tangible fixed assets

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 January 2019

386

808

1,194

Additions

1,029

-

1,029

At 31 December 2019

1,415

808

2,223

Depreciation

At 1 January 2019

58

669

727

Charge for year

203

70

273

At 31 December 2019

261

739

1,000

Net book value

At 31 December 2019

1,154

69

1,223

At 31 December 2018

328

139

467

5.

Debtors: amounts falling due within one year

2019

2018

£

£

Amounts owed by associates

21,297

45,062

Other debtors

-

26,810

21,297

71,872

6.

Creditors: amounts falling due within one year

2019

2018

£

£

Bank loans and overdrafts

-

16,325

Taxation and social security

(5,589

)

12,664

Other creditors

18,553

4,859

12,964

33,848

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

1p

100

100

8.	Directors' loans

The following advances and credits to a director subsisted during the years ended 31 December 2019 and

31 December 2018:

2019

2018

£

£

Mr J E T Slater

Balance outstanding at start of year

(3,759

)

1,158

Amounts advanced

1,626

4,083

Amounts repaid

(15,170

)

(9,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(17,303

)

(3,759

)