3 false false false false false false false false false true false false false false false false No description of principal activity 2022-02-01 Sage Accounts Production Advanced 2021 - FRS102_2021 2,517,835 67,499 2,585,334 2,585,334 2,517,835 100 100 100 xbrli:pure xbrli:shares iso4217:GBP 12497544 2022-02-01 2023-01-31 12497544 2023-01-31 12497544 2022-01-31 12497544 2021-02-01 2022-01-31 12497544 2022-01-31 12497544 bus:Director1 2022-02-01 2023-01-31 12497544 core:LandBuildings core:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 12497544 core:WithinOneYear 2023-01-31 12497544 core:WithinOneYear 2022-01-31 12497544 core:ShareCapital 2023-01-31 12497544 core:ShareCapital 2022-01-31 12497544 core:RetainedEarningsAccumulatedLosses 2023-01-31 12497544 core:RetainedEarningsAccumulatedLosses 2022-01-31 12497544 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-01-31 12497544 core:CostValuation core:Non-currentFinancialInstruments 2023-01-31 12497544 core:Non-currentFinancialInstruments 2023-01-31 12497544 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 12497544 core:LandBuildings core:OwnedOrFreeholdAssets 2022-01-31 12497544 core:LandBuildings core:OwnedOrFreeholdAssets 2022-01-31 12497544 bus:SmallEntities 2022-02-01 2023-01-31 12497544 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 12497544 bus:FullAccounts 2022-02-01 2023-01-31 12497544 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 12497544 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31
COMPANY REGISTRATION NUMBER: 12497544
C & C Futures Limited
Unaudited financial statements
31 January 2023
C & C Futures Limited
Statement of financial position
31 January 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
2,585,334
2,517,835
Investments
6
100
-----------
-----------
2,585,434
2,517,835
Current assets
Debtors
7
25,630
21,580
Cash at bank and in hand
106,085
251,289
---------
---------
131,715
272,869
Creditors: Amounts falling due within one year
8
( 2,831,384)
( 2,807,070)
-----------
-----------
Net current liabilities
( 2,699,669)
( 2,534,201)
-----------
-----------
Total assets less current liabilities
( 114,235)
( 16,366)
Accruals and deferred income
( 2,590)
( 2,400)
---------
-------
Net liabilities
( 116,825)
( 18,766)
---------
-------
Capital and reserves
Called up share capital
200
100
Profit and loss account
( 117,025)
( 18,866)
---------
-------
Shareholders deficit
( 116,825)
( 18,766)
---------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
C & C Futures Limited
Statement of financial position (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 10 October 2023 , and are signed on behalf of the board by:
Mr C C G Riddle
Director
Company registration number: 12497544
C & C Futures Limited
Notes to the financial statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Woolfox Golf & Country Club, Great North Road, Stamford, Rutland, PE9 4AQ, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to item recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 3 (2022: 2 ).
5. Tangible assets
Freehold investment property
£
Cost
At 1 February 2022
2,517,835
Additions
67,499
-----------
At 31 January 2023
2,585,334
-----------
Depreciation
At 1 February 2022 and 31 January 2023
-----------
Carrying amount
At 31 January 2023
2,585,334
-----------
At 31 January 2022
2,517,835
-----------
At the year end the investment property has been revalued by the directors to its current market value.
6. Investments
Shares in group undertakings
£
Cost
At 1 February 2022
Additions
100
----
At 31 January 2023
100
----
Impairment
At 1 February 2022 and 31 January 2023
----
Carrying amount
At 31 January 2023
100
----
At 31 January 2022
----
7. Debtors
2023
2022
£
£
Amounts owed by group undertakings
22,371
Other debtors
3,259
21,580
-------
-------
25,630
21,580
-------
-------
8. Creditors: Amounts falling due within one year
2023
2022
£
£
Trade creditors
27,905
12,186
Social security and other taxes
4,904
2,984
Other creditors
2,798,575
2,791,900
-----------
-----------
2,831,384
2,807,070
-----------
-----------