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REGISTERED NUMBER: 09020470 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

C & C Fibreglass Ltd

C & C Fibreglass Ltd (Registered number: 09020470)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


C & C Fibreglass Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTORS: P A Chapman
A J Chapman
W M Chapman





REGISTERED OFFICE: 4 Farrier Road
Lincoln
LN6 3RU





REGISTERED NUMBER: 09020470 (England and Wales)





ACCOUNTANTS: ABC Accounting Services
1 Willoughton Place
Wharton Close
Gainsborough
Lincolnshire
DN21 1EB

C & C Fibreglass Ltd (Registered number: 09020470)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,000 4,000
Tangible assets 5 12,510 9,533
14,510 13,533

CURRENT ASSETS
Stocks 3,500 3,500
Debtors 6 10,882 16,667
Cash at bank 25,203 32,494
39,585 52,661
CREDITORS
Amounts falling due within one year 7 35,202 39,288
NET CURRENT ASSETS 4,383 13,373
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,893

26,906

CREDITORS
Amounts falling due after more than one
year

8

(10,000

)

(15,000

)

PROVISIONS FOR LIABILITIES (1,268 ) (1,656 )
NET ASSETS 7,625 10,250

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings 7,475 10,100
SHAREHOLDERS' FUNDS 7,625 10,250

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

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.

C & C Fibreglass Ltd (Registered number: 09020470)

Balance Sheet - continued
31 May 2023


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

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 and authorised for issue on 20 February 2024 and were signed on its behalf by:




A J Chapman - Director P A Chapman - Director




W M Chapman - Director


C & C Fibreglass Ltd (Registered number: 09020470)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

C & C Fibreglass Ltd 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

C & C Fibreglass Ltd (Registered number: 09020470)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 20,000
AMORTISATION
At 1 June 2022 16,000
Amortisation for year 2,000
At 31 May 2023 18,000
NET BOOK VALUE
At 31 May 2023 2,000
At 31 May 2022 4,000

5. TANGIBLE FIXED ASSETS
Improvements
to Fixtures
leasehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2022 1,900 4,491 1,953
Additions - 6,000 -
At 31 May 2023 1,900 10,491 1,953
DEPRECIATION
At 1 June 2022 1,083 3,166 1,572
Charge for year 82 1,099 77
At 31 May 2023 1,165 4,265 1,649
NET BOOK VALUE
At 31 May 2023 735 6,226 304
At 31 May 2022 817 1,325 381

C & C Fibreglass Ltd (Registered number: 09020470)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2022 32,746 2,674 43,764
Additions - - 6,000
At 31 May 2023 32,746 2,674 49,764
DEPRECIATION
At 1 June 2022 25,891 2,519 34,231
Charge for year 1,714 51 3,023
At 31 May 2023 27,605 2,570 37,254
NET BOOK VALUE
At 31 May 2023 5,141 104 12,510
At 31 May 2022 6,855 155 9,533

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 10,152 16,177
Tax 730 490
10,882 16,667

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 6,000 2,882
Other loans 5,000 5,000
Trade creditors 11,018 7,493
Tax 7,286 13,971
Social security and other taxes 779 797
VAT 4,241 8,584
Directors' current accounts 328 11
Accrued expenses 550 550
35,202 39,288

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Other loans - 1-2 years 5,000 5,000
Other loans - 2-5 years 5,000 10,000
10,000 15,000

C & C Fibreglass Ltd (Registered number: 09020470)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Bank loans 6,000 2,882

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £27,000 (2022 - £30,060) were paid to the directors .

11. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors. At the year end the company owed the directors £328 (2022 - £11).