Canon Street Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03328680 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

CANON STREET PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M A Hutson

Mrs J Hutson

Mrs H C Wilkinson

Mr M Hutson

Mr J P Hutson

REGISTERED OFFICE:

5

Woodgate

Rothley

Leicestershire

LE7 7LL

REGISTERED NUMBER:

03328680 (England and Wales)

FIXED ASSETS

Tangible assets

4

3,480,063

3,529,365

Investments

5

7,688,643

7,668,384

Investment property

6

2,842,170

2,842,170

14,010,876

14,039,919

CURRENT ASSETS

Debtors

7

2,015,372

2,134,471

Cash at bank

466,166

459,020

2,481,538

2,593,491

CREDITORS

Amounts falling due within one year

8

77,225

76,920

NET CURRENT ASSETS

2,404,313

2,516,571

TOTAL ASSETS LESS CURRENT LIABILITIES

16,415,189

16,556,490

CAPITAL AND RESERVES

Called up share capital

53,750

53,750

Capital redemption reserve

46,250

46,250

Retained earnings

16,315,189

16,456,490

SHAREHOLDERS' FUNDS

16,415,189

16,556,490

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 17 November 2018 and were signed on its behalf by:

Mr M A Hutson - Director

1.	STATUTORY INFORMATION

Canon Street Properties 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.

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.

Freehold property

-

2% on cost

Motor vehicles

-

at varying rates on cost

Equipment

-

25% on reducing balance

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

INVESTMENT PROPERTY

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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.

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.

INVESTMENTS

Investments in subsidiaries are stated at the lower of cost and net realisable value.

OPERATING LEASE RECEIVABLES

Rentals receivable under operating leases are credited to the profit and loss account as incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2017 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Motor

property

vehicles

Equipment

Totals

£

£

£

£

COST

At 1 April 2017

and 31 March 2018

3,696,144

124,528

9,715

3,830,387

DEPRECIATION

At 1 April 2017

229,198

65,388

6,436

301,022

Charge for year

33,697

14,785

820

49,302

At 31 March 2018

262,895

80,173

7,256

350,324

NET BOOK VALUE

At 31 March 2018

3,433,249

44,355

2,459

3,480,063

At 31 March 2017

3,466,946

59,140

3,279

3,529,365

Included in cost of land and buildings is freehold land of £ 2,011,309 (2017 - £ 2,011,309 ) which is not

depreciated.

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1 April 2017

974,857

7,664,384

8,639,241

Additions

-

20,259

20,259

At 31 March 2018

974,857

7,684,643

8,659,500

PROVISIONS

At 1 April 2017

and 31 March 2018

970,857

-

970,857

NET BOOK VALUE

At 31 March 2018

4,000

7,684,643

7,688,643

At 31 March 2017

4,000

7,664,384

7,668,384

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2017

and 31 March 2018

2,842,170

NET BOOK VALUE

At 31 March 2018

2,842,170

At 31 March 2017

2,842,170

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed by group undertakings

130,000

130,000

Other debtors

1,885,372

2,004,471

2,015,372

2,134,471

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

19,754

19,459

Other creditors

57,471

57,461

77,225

76,920

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M Hutson by virtue of his family's controlling interest in the equity share

capital of the company.