REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 10 SEPTEMBER 2020 TO 30 SEPTEMBER 2021 |
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CAN-PHANTOM LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 10 SEPTEMBER 2020 TO 30 SEPTEMBER 2021 |
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FOR |
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CAN-PHANTOM LIMITED |
CAN-PHANTOM LIMITED (REGISTERED NUMBER: 12870967) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 10 SEPTEMBER 2020 TO 30 SEPTEMBER 2021 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 2 |
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CAN-PHANTOM LIMITED (REGISTERED NUMBER: 12870967) |
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BALANCE SHEET |
30 SEPTEMBER 2021 |
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Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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CAN-PHANTOM LIMITED (REGISTERED NUMBER: 12870967) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 10 SEPTEMBER 2020 TO 30 SEPTEMBER 2021 |
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1. | STATUTORY INFORMATION |
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Can-Phantom Limited is a
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Registered number: | 12870967 |
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Registered office: | Tollgate Court Business Centre Tollgate |
Tollgate Industrial Estate |
Stafford |
ST16 3HS |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably. |
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Tangible fixed assets |
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Computer equipment | - |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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 period end and that are expected to apply to the reversal of the timing difference. |
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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. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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CAN-PHANTOM LIMITED (REGISTERED NUMBER: 12870967) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 10 SEPTEMBER 2020 TO 30 SEPTEMBER 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Going concern and covid-19 |
The coronavirus pandemic has significantly disrupted individuals’ personal lives and businesses’ economic prospects in the UK and across the globe. The UK entered lockdown in March 2020 and some restrictions and social distancing provisions remain in place. |
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The effect of COVID-19 on the company has been to slow the launch of the new product onto the market. However, this has allowed the company time to tweak the product launch and continue with its research and development programme. |
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The company has prepared the accounts on a going concern basis and deem this appropriate. The directors do not consider that a material uncertainty about the going concern status currently exists. In making this assessment the directors have considered the likely trading conditions for a period of twelve months from the date of the approval of these accounts. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was NIL. |
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4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
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COST |
Additions |
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At 30 September 2021 |
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DEPRECIATION |
Charge for period |
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At 30 September 2021 |
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NET BOOK VALUE |
At 30 September 2021 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
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Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Taxation and social security |
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Other creditors |
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