Canns Down Press Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04490139 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

CANNS DOWN PRESS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R W B Hartford

Mrs G Hartford

SECRETARY:

Mr R W B Hartford

REGISTERED OFFICE:

Fortescue Court

Thorverton

Exeter

EX5 5JN

REGISTERED NUMBER:

04490139 (England and Wales)

ACCOUNTANTS:

Bush & Co Limited

2 Barnfield Crescent

Exeter

United Kingdom

Devon

EX1 1QT

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

46,270

42,842

46,270

42,842

CURRENT ASSETS

Stocks

176,947

180,931

Debtors

7

143,945

129,294

Cash at bank and in hand

16,725

26,396

337,617

336,621

CREDITORS

Amounts falling due within one year

8

158,960

171,601

NET CURRENT ASSETS

178,657

165,020

TOTAL ASSETS LESS CURRENT LIABILITIES

224,927

207,862

CREDITORS

Amounts falling due after more than one year

9

46,832

-

NET ASSETS

178,095

207,862

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

177,095

206,862

SHAREHOLDERS' FUNDS

178,095

207,862

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 May 2021 and were signed on its behalf by:

Mr R W B Hartford - Director

Mrs G Hartford - Director

1.	STATUTORY INFORMATION

Canns Down Press 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, has now been fully amortised.

Tangible fixed assets

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

Freehold property

-

10% on cost

Fixtures & fittings

-

10% on cost

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 4 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2019

and 30 September 2020

280,000

AMORTISATION

At 1 October 2019

and 30 September 2020

280,000

NET BOOK VALUE

At 30 September 2020

-

At 30 September 2019

-

6.	TANGIBLE FIXED ASSETS

Freehold

Fixtures

Computer

property

& fittings

equipment

Totals

£

£

£

£

COST

At 1 October 2019

47,825

18,827

58,363

125,015

Additions

-

-

10,469

10,469

At 30 September 2020

47,825

18,827

68,832

135,484

DEPRECIATION

At 1 October 2019

7,625

17,514

57,034

82,173

Charge for year

4,782

586

1,673

7,041

At 30 September 2020

12,407

18,100

58,707

89,214

NET BOOK VALUE

At 30 September 2020

35,418

727

10,125

46,270

At 30 September 2019

40,200

1,313

1,329

42,842

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

126,671

117,104

Other debtors

17,274

12,190

143,945

129,294

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

19,622

48,188

Trade creditors

36,428

37,118

Taxation and social security

51,440

49,312

Other creditors

51,470

36,983

158,960

171,601

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

46,832

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

7,050

-

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2020

2019

£

£

Within one year

9,950

-

11.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank overdrafts

16,455

48,188

Bank loans

49,999

-

66,454

48,188

The bank loan and overdraft is secured by a personal guarantee from the directors Mr and Mrs Hartford.

12.	RELATED PARTY DISCLOSURES

Included in other debtors are amounts owed by the directors of £6,295 to the company (2019: £2,200). Interest has been charged at the official rate of interest on overdrawn balances during the year. The loans carry no fixed terms of repayment.