CANNING_HOUSE_LIMITED - Accounts

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Canning House Limited is a private company limited by shares incorporated in England and Wales. The registered office is 126 Wigmore Street, London, W1U 3RZ.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company is reliant on support from its parent organisation – The Hispanic and Luso Brazilian Council - to meet its financial obligations as they fall due. The directors are satisfied that further financial support will be made available to the company for a period of at least one year from the date of approval of these financial statements and therefore the financial statements have been prepared on a going concern basis.true

Turnover represents amounts receivable for services, net of VAT. The total turnover of the company for the year has been derived from it's principal activities. Annual membership subscriptions are recognised in equal monthly instalments over the period of membership. Donations and sponsorships are recognised when the company has entitlement to these funds. Event fees and room hire are recorded when the services are provided.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

Tax and deferred tax are not recognised as the Company has a policy of eliminating taxable profits by making Gift Aid distributions to The Hispanic and Luso Brazilian Council.

The company does not have any employees that are directly employed by the company. All employees are provided by The Hispanic and Luso Brazilian Council. As such, the company is only responsible for the costs recharged, which are allocated to the profit and loss account as they fall due.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

The average monthly number of persons (including directors) employed by the company during the year was 0 (2019 - 0).

The Company did not employ any staff directly. Staff were employed by The Hispanic and Luso Brazilian Council, the parent company, and their costs were recharged to the company based on time spent.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor report was unqualified.

The entire net profit of the company is donated annually to The Hispanic and Luso Brazilian Council, the parent company, under gift aid and amounted to £Nil (2019 - £20,149), inclusive of the tax credit.

The parent company of Canning House Limited is The Hispanic and Luso Brazilian Council and its registered office is 126 Wigmore Street, London W1U 3RZ.