John Cannaby Associates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06914930 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2020

FOR

JOHN CANNABY ASSOCIATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J W Cannaby

Mrs S Haines

M L Knott

P Taylor

REGISTERED OFFICE:

Unit 6 Smithfield Centre

Whitburn Street

Bridgnorth

WV16 4QT

REGISTERED NUMBER:

06914930 (England and Wales)

ACCOUNTANTS:

Astbury Accountants Limited

12 Northgate

Bridgnorth

Shropshire

WV16 4ER

FIXED ASSETS

Tangible assets

4

1,896

2,610

CURRENT ASSETS

Debtors

5

3,719

-

Prepayments and accrued income

1,655

4,643

Cash at bank and in hand

20,597

5,311

25,971

9,954

CREDITORS

Amounts falling due within one year

6

5,201

6,006

NET CURRENT ASSETS

20,770

3,948

TOTAL ASSETS LESS CURRENT LIABILITIES

22,666

6,558

CREDITORS

Amounts falling due after more than one year

7

25,000

25,000

NET LIABILITIES

(2,334

)

(18,442

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

(2,434

)

(18,542

)

SHAREHOLDERS' FUNDS

(2,334

)

(18,442

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 in accordance with Section 476 of the Companies Act 2006.

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 January 2021 and were signed on its behalf by:

P Taylor - Director

Mrs S Haines - Director

M L Knott - Director

J W Cannaby - Director

1.	STATUTORY INFORMATION

John Cannaby Associates Limited 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.

The company is currently insolvent but continues to trade with the support of its creditors and directors. The accounts have been prepared on a going concern basis assuming the continuation of this support.

Turnover

Turnover represents commission receivable for investment services provided.

Tangible fixed assets

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

Plant and machinery etc

-

20% on cost

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.

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 4 (2019 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2019

and 31 May 2020

9,244

DEPRECIATION

At 1 June 2019

6,634

Charge for year

714

At 31 May 2020

7,348

NET BOOK VALUE

At 31 May 2020

1,896

At 31 May 2019

2,610

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Other debtors

3,719

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Social security and other taxes

1,653

1,660

Accrued expenses

3,548

4,346

5,201

6,006

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.20

31.5.19

£

£

Directors loan

25,000

25,000

Other creditors consists of a loan from a director and they have confirmed that repayment of this loan will not be demanded within 12 months of the approval date of these accounts.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.20

31.5.19

value:

£

£

100

Ordinary

£1

100

100

9.	FINANCIAL COMMITMENTS

Total financial commitments under operating leases which are not included in the balance sheet amount to £ 51,601 (2019: £67,965).

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2020 and 31 May 2019:

31.5.20

31.5.19

£

£

M L Knott

Balance outstanding at start of year

(25,000

)

(25,000

)

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(25,000

)

(25,000

)