Canalta U.K. Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07982450 (England and Wales)

Financial Statements

for the Year Ended 31 March 2018

for

Canalta U.K. Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D D Newman

D G Clark

M D Clark

REGISTERED OFFICE:

Offices 5 & 6

Keystone Innovation Centre

Croxton Road

Thetford

Norfolk

IP24 1JD

REGISTERED NUMBER:

07982450 (England and Wales)

AUDITORS:

Knights Lowe Limited

Chartered Accountants

and Statutory Auditors

Eldo House, Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

FIXED ASSETS

Tangible assets

4

14,541

21,875

CURRENT ASSETS

Debtors

5

78,165

59,992

Cash at bank and in hand

50,978

45,313

129,143

105,305

CREDITORS

Amounts falling due within one year

6

30,261

37,086

NET CURRENT ASSETS

98,882

68,219

TOTAL ASSETS LESS CURRENT LIABILITIES

113,423

90,094

PROVISIONS FOR LIABILITIES

8

2,000

2,500

NET ASSETS

111,423

87,594

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

111,323

87,494

SHAREHOLDERS' FUNDS

111,423

87,594

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 10 December 2018 and were signed on its behalf by:

D D Newman - Director

1.	STATUTORY INFORMATION

Canalta U.K. 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Office equipment

-

20% on reducing balance

Motor vehicles

-

30% on reducing balance

Computer equipment

-

30% on reducing balance and 7 years straight line

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2017 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

67,448

Additions

2,713

Disposals

(23,250

)

At 31 March 2018

46,911

DEPRECIATION

At 1 April 2017

45,573

Charge for year

6,379

Eliminated on disposal

(19,582

)

At 31 March 2018

32,370

NET BOOK VALUE

At 31 March 2018

14,541

At 31 March 2017

21,875

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed by group undertakings

74,000

54,000

Other debtors

4,165

5,992

78,165

59,992

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

2,027

694

Taxation and social security

12,360

17,105

Other creditors

15,874

19,287

30,261

37,086

7.	LEASING AGREEMENTS

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

2018

2017

£

£

Within one year

8,930

-

Between one and five years

-

8,930

8,930

8,930

8.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

Accelerated capital allowances

2,000

2,500

Deferred

tax

£

Balance at 1 April 2017

2,500

Credit to Income Statement during year

(500

)

Balance at 31 March 2018

2,000

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

1,000

Ordinary

10p

100

100

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

James Knights BSc ACA (Senior Statutory Auditor)

for and on behalf of Knights Lowe Limited

11.	ULTIMATE PARENT COMPANY

1662266 Alberta Limited (incorporated in Canada) is regarded by the directors as being the company's ultimate

parent company.

The directors, however, consider that Canalta Controls Limited (incorporated in Canada) is, in substance, the

company's controlling party. Although not having any direct capital influence, it is a company controlled by D G

Clark, who is the ultimate controlling party.