Canningbeck Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 01215681 (England and Wales)

Financial Statements

for the Year Ended 31 December 2016

for

Canningbeck Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T J Shah

A M Shah

H M Shah

SECRETARY:

T J Shah

REGISTERED OFFICE:

46 Oakdene Park

London

N3 1EU

REGISTERED NUMBER:

01215681 (England and Wales)

ACCOUNTANTS:

Parker Cavendish

Chartered Accountants

28 Church Road

Stanmore

Middlesex

HA7 4XR

FIXED ASSETS

Intangible assets

4

1

1

Property, plant and equipment

5

178,829

183,829

178,830

183,830

CREDITORS

Amounts falling due within one year

6

(73,802

)

(80,905

)

NET CURRENT LIABILITIES

(73,802

)

(80,905

)

TOTAL ASSETS LESS CURRENT LIABILITIES

105,028

102,925

CREDITORS

Amounts falling due after more than one year

7

(213,961

)

(213,961

)

NET LIABILITIES

(108,933

)

(111,036

)

CAPITAL AND RESERVES

Called up share capital

10,150

10,150

Revaluation reserve

171,200

171,200

Retained earnings

(290,283

)

(292,386

)

(108,933

)

(111,036

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 28 September 2017 and were signed on its behalf by:

A M Shah - Director

1.	STATUTORY INFORMATION

Canningbeck 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements for the year ended 31 December 2016 are the first financial statements of

the company that comply with FRS 102. The date of transition is 1January 2016. No differences to the

reported financial position and income statement for the previous period were noted as a result of the

transition to FRS 102.

The principal accounting policies adopted in the preparation of the financial statements are set out

below and have remained unchanged from the previous year/period, and also have been consistently

applied within the same accounts.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

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.

Going concern

At the year-end, the company balance sheet showed net liabilities. These financial statements have

been prepared on the going concern basis, which is dependent on the following considerations by the

directors:

a) The company has received assurances of ongoing support from its shareholders and the director.

Their loans have been subordinated in favour of other creditors.

b) The directors have reviewed the forecasts for the next twelve months from December 2016 and they

are confident that the company will be able to meet its liabilities as and when they fall due.

c) Bank facilities have been renewed and the company is able to meet the loan interest liabilities as

and when they fall due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2016

and 31 December 2016

12,000

AMORTISATION

At 1 January 2016

and 31 December 2016

11,999

NET BOOK VALUE

At 31 December 2016

1

At 31 December 2015

1

5.	PROPERTY, PLANT AND EQUIPMENT

Land and

buildings

£

COST

At 1 January 2016

and 31 December 2016

250,000

DEPRECIATION

At 1 January 2016

66,171

Charge for year

5,000

At 31 December 2016

71,171

NET BOOK VALUE

At 31 December 2016

178,829

At 31 December 2015

183,829

Included in cost of land and buildings is freehold land of £ 87,500 (2015 - £ 87,500 ) which is not

depreciated.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

749

2,728

Taxation and social security

1,534

-

Other creditors

71,519

78,177

73,802

80,905

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Bank loans

203,034

203,034

Other creditors

10,927

10,927

213,961

213,961