C & C DEVELOPMENTS LTD.
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
PAGES FOR FILING WITH REGISTRAR
C & C DEVELOPMENTS LTD.
COMPANY INFORMATION
Director
C Haworth
Company number
08854174 (England and Wales)
Registered office
11 Nicholas Street
Burnley
Lancashire
BB11 2AL
Accountants
Ashworth Moulds
11 Nicholas Street
Burnley
Lancashire
BB11 2AL
C & C DEVELOPMENTS LTD.
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
C & C DEVELOPMENTS LTD.
BALANCE SHEET
AS AT
31 JANUARY 2023
31 January 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
9,986
15,271
Investment properties
4
110,965
110,965
Investments
5
1
1
120,952
126,237
Current assets
Debtors
6
652,990
651,030
Cash at bank and in hand
3,247
3,229
656,237
654,259
Creditors: amounts falling due within one year
7
(784,509)
(782,994)
Net current liabilities
(128,272)
(128,735)
Net liabilities
(7,320)
(2,498)
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
(7,420)
(2,598)
Total equity
(7,320)
(2,498)
The notes on pages 2 - 5 form an integral part of these financial statements.

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

For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 10 October 2023
C Haworth
Director
Company Registration No. 08854174
C & C DEVELOPMENTS LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
- 2 -
1
Accounting policies
Company information

C & C Developments Ltd. is a private company limited by shares incorporated in England and Wales. The registered office is 11 Nicholas Street, Burnley, Lancashire, BB11 2AL.

1.1
Accounting convention

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 investment properties at fair value]. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

C & C DEVELOPMENTS LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

A financial instrument is a contract giving rise to a financial asset (such as trade and other debtors, cash and bank balances) or a financial liability (such as trade and other creditors, bank and other loans, hire purchase and lease creditors) or an equity instrument (such as ordinary or preference shares).

 

Financial instruments are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument.

 

All the company's financial instruments are basic financial instruments and are recognised at amortised cost using the effective interest method.

 

Amortised cost: the original transaction value, less amounts settled, less any adjustment for impairment.

 

Effective interest method: where a financial instrument falls due more than 12 months after the balance sheet date and is subject to a rate of interest which is below a market rate, the original transaction value is discounted using a market rate of interest to give the net present value of future cash flows.

Derecognition of financial assets

Financial assets cease to be recognised only when the contractual rights to the cash flows expire, or when substantially all the risks and rewards of ownership are transferred to another entity.

 

Financial liabilities cease to be recognised when and only when the company's obligations are discharged, cancelled, or they expire.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred taxation has not been provided because there are no timing differences which may give rise to a future tax liability.

1.8
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

C & C DEVELOPMENTS LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery
£
Cost
At 1 February 2022 and 31 January 2023
26,425
Depreciation and impairment
At 1 February 2022
11,154
Depreciation charged in the year
5,285
At 31 January 2023
16,439
Carrying amount
At 31 January 2023
9,986
At 31 January 2022
15,271
4
Investment property
2023
£
Fair value
At 1 February 2022 and 31 January 2023
110,965

The company's investment property was purchased during the year ended January 2018. It has not been revalued because the director believes that its value has not materially changed.

5
Fixed asset investments
2023
2022
Notes
£
£
Investments in subsidiaries
1
1
C & C DEVELOPMENTS LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 5 -
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
652,560
650,225
Other debtors
430
805
652,990
651,030
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,783
-
0
Corporation tax
869
760
Other creditors
777,081
777,854
Accruals and deferred income
4,776
4,380
784,509
782,994
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary 'A' of £1 each
50
50
50
50
Ordinary 'B' of £1 each
50
50
50
50
100
100
100
100
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