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REGISTERED NUMBER: 02691252 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 30 June 2023

for

C C Contracting Limited

C C Contracting Limited (Registered number: 02691252)






Contents of the Consolidated Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 15

Company Statement of Changes in Equity 17

Consolidated Cash Flow Statement 18

Notes to the Consolidated Cash Flow Statement 19

Notes to the Consolidated Financial Statements 21


C C Contracting Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: P J Child
A J Holt
N S L Child





SECRETARY: N S L Child





REGISTERED OFFICE: Pedmore House
102 Pedmore Road
Stourbridge
West Midlands
DY9 8DG





REGISTERED NUMBER: 02691252 (England and Wales)





AUDITORS: Kenneth Morris Limited
Statutory Auditors
1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL

C C Contracting Limited (Registered number: 02691252)

Group Strategic Report
for the Year Ended 30 June 2023

The directors present their strategic report of the company and the group for the year ended 30 June 2023.

REVIEW OF BUSINESS
The principal activities for the year continued to be civil engineering construction works, with an emphasis on the groundworks element of construction.

The Key financial performance indicators for the company are:

2023 2022 %change
Turnover £14,916,088 £22,891,853 (34.84% )
Profit before tax £1,360,134 £1,751,856 (22.36% )
Equity shareholder funds £6,595,339 £6,066,797 8.71%

The board continues to make great efforts to have a good spread of work with in excess of 60% always being non-subcontract, in an attempt to minimise financial risk and over exposure in one area. The reduction in turnover is not a shock, simply a reflection on the previous year just being more full than usual of larger projects.

The underlying balance sheet for the company has strengthened during the year in which net assets have increased by £628k to £6,714k as at 30th June 2023.

The group's current ratio remains strong and has increased on 2022. We consistently have sufficient liquidity in the business to manage our day to day requirements.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks facing the group are grouped into the following categories - competitive, legislative and financial instrument risk.

Competitive Risks
The group is to a large degree dependent on good spread of clients and strive to maintain this spread to avoid being at risk of one declining workstream. We operate in a very competitive marketplace but our style of management, the level of service we offer our clients and our control of our own workforce sets us apart from our competitors. This in turn provides us with an excellent stream of repeat business from our loyal customer base.

Legislative Risks
All our business is conducted in the UK and whilst changes in legislation can always pose a risk, we are now aware of any factors that would impose a greater degree of risk to us than others.

Financial Instrument Risks
As all our work is carried out on UK mainland, we do not have to worry about exchange rate issues. The few foreign companies we deal with we insist upon being paid in sterling.

Credit risk occurs whenever the group offers its services on credit terms to its clients. Group policies are designed to ensure that all appropriate credit checks are carried out on prospective and current clients and the credit performance of those clients is continually monitored. Details of the company's debtors' position are included in the notes to the financial statements.

Liquidity risk is the risk of the group being unable to meet obligations associated with financial liabilities. The group mitigates this risk through close management of its current and future cash flows. We maintain a strong cashflow and as such we remain in a strong financial position.


C C Contracting Limited (Registered number: 02691252)

Group Strategic Report
for the Year Ended 30 June 2023

FUTURE DEVELOPMENTS
The directors aim to maintain the management policies, which have resulted in the group's performance to date. We do not foresee any great changes in revenue going forward, but we continue in uncertain times now due to potential recession and the war in Ukraine. We remain positive though and aim to maintain a steady business. We have some good orders in the pipeline for the coming year.

GOING CONCERN
The group's business activities, together with the factors likely to affect its future development, its financial position, financial risk management objectives, details of its financial instruments and its exposures to currency, credit and liquidity risk are disclosed in the Strategic Report.

The group has sufficient financial resources, together with a number of ongoing client contracts. As a consequence, the directors believe the business is well placed to manage its business risks successfully.

After making enquiries, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

ON BEHALF OF THE BOARD:





P J Child - Director


20 February 2024

C C Contracting Limited (Registered number: 02691252)

Report of the Directors
for the Year Ended 30 June 2023

The directors present their report with the financial statements of the company and the group for the year ended 30 June 2023.

DIVIDENDS
No interim dividend was paid during the year. The directors recommend a final dividend of £33.33334 per share.

The total distribution of dividends for the year ended 30 June 2023 will be £ 541,412 .

Of the £541,412, £500,000 has been paid out of CC Contracting Ltd and £41,412 paid out of the subsidiary undertaking, Serfis Construction and Engineering Ltd, to minority shareholders.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2022 to the date of this report.

P J Child
A J Holt
N S L Child

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

C C Contracting Limited (Registered number: 02691252)

Report of the Directors
for the Year Ended 30 June 2023


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





P J Child - Director


20 February 2024

Report of the Independent Auditors to the Members of
C C Contracting Limited

Opinion
We have audited the financial statements of C C Contracting Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 June 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
C C Contracting Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
C C Contracting Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other
management, and from our commercial knowledge and experience of the sector in which the company operate;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental, and health and safety legislation;
- we accessed the extent of compliance with the laws and regulations identified above through making enquiries of
management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to
instances of non-compliance throughout the audit.

We accessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of
actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risk of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of
potential bias; and
- investigated the rationale behind significant or unusual transactions.
- auditing the risk of misstatement and miss-posting of transactions through human error or intentional errors by
analytical review and walkthrough testing of systems

To address the risk of fraud in relation to revenue recognition we:
- performed cut-off and completeness testing either side of the financial period end;
- reviewed after date sales invoices and revenues
- performed analytical procedures to identify any unusual or unexpected variances
- tested sales systems and controls by performing a sales walkthrough to ensure such systems and controls are working as expected
- performed sales compliance tests to include sequential sales invoice numbering and data transfer between systems
where applicable.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
C C Contracting Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Richard Waller (Senior Statutory Auditor)
for and on behalf of Kenneth Morris Limited
Statutory Auditors
1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL

20 February 2024

C C Contracting Limited (Registered number: 02691252)

Consolidated Income Statement
for the Year Ended 30 June 2023

30.6.23 30.6.22
Notes £    £   

TURNOVER 14,916,088 22,891,853

Cost of sales 10,936,590 18,766,762
GROSS PROFIT 3,979,498 4,125,091

Administrative expenses 2,650,799 2,387,412
1,328,699 1,737,679

Other operating income 5,897 13,905
OPERATING PROFIT 4 1,334,596 1,751,584

Interest receivable and similar income 26,513 936
1,361,109 1,752,520

Interest payable and similar expenses 5 970 664
PROFIT BEFORE TAXATION 1,360,139 1,751,856

Tax on profit 6 190,747 162,247
PROFIT FOR THE FINANCIAL YEAR 1,169,392 1,589,609
Profit attributable to:
Owners of the parent 1,069,954 1,543,525
Non-controlling interests 99,438 46,084
1,169,392 1,589,609

C C Contracting Limited (Registered number: 02691252)

Consolidated Other Comprehensive Income
for the Year Ended 30 June 2023

30.6.23 30.6.22
Notes £    £   

PROFIT FOR THE YEAR 1,169,392 1,589,609


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,169,392

1,589,609

Total comprehensive income attributable to:
Owners of the parent 1,069,953 1,543,525
Non-controlling interests 99,439 46,084
1,169,392 1,589,609

C C Contracting Limited (Registered number: 02691252)

Consolidated Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 529,304 466,854
Investments 10 37,825 37,825
Investment property 11 1,000 1,000
568,129 505,679

CURRENT ASSETS
Stocks 12 156,192 192,476
Debtors 13 4,766,984 5,945,692
Investments 14 346,864 346,864
Cash at bank and in hand 3,244,782 2,633,480
8,514,822 9,118,512
CREDITORS
Amounts falling due within one year 15 2,369,035 3,538,256
NET CURRENT ASSETS 6,145,787 5,580,256
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,713,916

6,085,935

CAPITAL AND RESERVES
Called up share capital 19 15,035 15,035
Other reserves 20 15,000 15,000
Retained earnings 20 6,565,304 6,036,762
SHAREHOLDERS' FUNDS 6,595,339 6,066,797

NON-CONTROLLING INTERESTS 21 118,577 19,138
TOTAL EQUITY 6,713,916 6,085,935

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:





P J Child - Director


C C Contracting Limited (Registered number: 02691252)

Company Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 478,467 392,724
Investments 10 187,880 187,885
Investment property 11 1,000 1,000
667,347 581,609

CURRENT ASSETS
Stocks 12 146,289 156,115
Debtors 13 4,394,098 5,878,892
Investments 14 346,864 346,864
Cash at bank and in hand 2,948,302 2,260,238
7,835,553 8,642,109
CREDITORS
Amounts falling due within one year 15 2,160,984 3,314,242
NET CURRENT ASSETS 5,674,569 5,327,867
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,341,916

5,909,476

PROVISIONS FOR LIABILITIES 18 90,531 46,310
NET ASSETS 6,251,385 5,863,166

CAPITAL AND RESERVES
Called up share capital 19 15,000 15,000
Other reserves 20 15,000 15,000
Retained earnings 20 6,221,385 5,833,166
SHAREHOLDERS' FUNDS 6,251,385 5,863,166

Company's profit for the financial year 888,219 1,424,879

C C Contracting Limited (Registered number: 02691252)

Company Balance Sheet - continued
30 June 2023


The financial statements were approved by the Board of Directors and authorised for issue on 24 January 2024 and were signed on its behalf by:





P J Child - Director


C C Contracting Limited (Registered number: 02691252)

Consolidated Statement of Changes in Equity
for the Year Ended 30 June 2023

Called up
share Retained Other
capital earnings reserves
£    £    £   
Balance at 1 July 2021 15,035 5,034,201 15,000

Changes in equity
Dividends - (540,964 ) -
Total comprehensive income - 1,543,525 -
15,035 6,036,762 15,000
Acquisition of non-controlling
interest

-

-

-
Balance at 30 June 2022 15,035 6,036,762 15,000

Changes in equity
Dividends - (541,412 ) -
Total comprehensive income - 1,069,954 -
15,035 6,565,304 15,000
Acquisition of non-controlling
interest

-

-

-
Balance at 30 June 2023 15,035 6,565,304 15,000

C C Contracting Limited (Registered number: 02691252)

Consolidated Statement of Changes in Equity - continued
for the Year Ended 30 June 2023

Non-controlling Total
Total interests equity
£    £    £   
Balance at 1 July 2021 5,064,236 - 5,064,236

Changes in equity
Dividends (540,964 ) - (540,964 )
Total comprehensive income 1,543,525 46,084 1,589,609
6,066,797 46,084 6,112,881
Acquisition of non-controlling
interest

-

(26,946

)

(26,946

)
Balance at 30 June 2022 6,066,797 19,138 6,085,935

Changes in equity
Dividends (541,412 ) - (541,412 )
Total comprehensive income 1,069,954 99,439 1,169,393
6,595,339 118,577 6,713,916
Acquisition of non-controlling
interest

-

19,138

19,138
Balance at 30 June 2023 6,595,339 137,715 6,733,054

C C Contracting Limited (Registered number: 02691252)

Company Statement of Changes in Equity
for the Year Ended 30 June 2023

Called up
share Retained Other Total
capital earnings reserves equity
£    £    £    £   
Balance at 1 July 2021 15,000 4,908,287 15,000 4,938,287

Changes in equity
Dividends - (500,000 ) - (500,000 )
Total comprehensive income - 1,424,879 - 1,424,879
Balance at 30 June 2022 15,000 5,833,166 15,000 5,863,166

Changes in equity
Dividends - (500,000 ) - (500,000 )
Total comprehensive income - 888,219 - 888,219
Balance at 30 June 2023 15,000 6,221,385 15,000 6,251,385

C C Contracting Limited (Registered number: 02691252)

Consolidated Cash Flow Statement
for the Year Ended 30 June 2023

30.6.23 30.6.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,575,363 1,562,209
Interest element of hire purchase payments
paid

(970

)

(664

)
Tax paid (233,895 ) 52,950
Net cash from operating activities 1,340,498 1,614,495

Cash flows from investing activities
Purchase of tangible fixed assets (325,230 ) (269,179 )
Sale of tangible fixed assets 109,395 12,252
Interest received 26,513 936
Net cash from investing activities (189,322 ) (255,991 )

Cash flows from financing activities
New HP agreements in the year - 83,064
Capital HP repayments in year (48,454 ) (43,388 )
Net movement in director loans 500,000 787,568
Amount withdrawn by directors (450,008 ) (317,413 )
Equity dividends paid (541,412 ) (540,964 )
Net cash from financing activities (539,874 ) (31,133 )

Increase in cash and cash equivalents 611,302 1,327,371
Cash and cash equivalents at beginning of
year

2

2,633,480

1,306,109

Cash and cash equivalents at end of year 2 3,244,782 2,633,480

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 30 June 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
30.6.23 30.6.22
£    £   
Profit before taxation 1,360,139 1,751,856
Depreciation charges 174,103 157,049
Profit on disposal of fixed assets (20,717 ) (1,087 )
Finance costs 970 664
Finance income (26,513 ) (936 )
1,487,982 1,907,546
Decrease in stocks 36,284 21,590
Decrease/(increase) in trade and other debtors 1,011,175 (1,672,022 )
(Decrease)/increase in trade and other creditors (960,078 ) 1,305,095
Cash generated from operations 1,575,363 1,562,209

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 3,244,782 2,633,480
Year ended 30 June 2022
30.6.22 1.7.21
£    £   
Cash and cash equivalents 2,633,480 1,306,109


C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 30 June 2023

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.22 Cash flow At 30.6.23
£    £    £   
Net cash
Cash at bank and in hand 2,633,480 611,302 3,244,782
2,633,480 611,302 3,244,782

Liquid resources
Current asset investments 346,864 - 346,864
346,864 - 346,864
Debt
Finance leases (48,454 ) 48,454 -
(48,454 ) 48,454 -
Total 2,931,890 659,756 3,591,646

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

C C Contracting Limited 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The group financial statements have been prepared under the provision of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 of the Companies Act 2006 and applicable accounting standards.

The consolidated financial statements incorporate the financial statements of the company and entities that continue to be controlled by the Group (its subsidiaries). Control exists where the Group has the power to govern the financial and operating policies of the entity; generally conferred by holding a majority of voting rights. All intra-group balances, transactions, income and expenses are eliminated on consolidation. The consolidated accounts are prepared using uniform accounting policies.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 25% on reducing balance
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Investment property
Investment property is valued by the directors at current market value.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.


C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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 year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and
depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance
charges, are included in creditors. Leasing payments are treated as consisting of capital and interest elements, and interest is charged to the profit and loss account on a straight-line basis which is considered to be a reasonable approximation to a constant rate of charge on the outstanding balance.

Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease. Where no lease is in place, the rentals are charges to the profit and loss account as and when paid.

The benefits of lease incentives are recognised in profit and loss account over the lease period

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Trade debtors includes the value of contractual work in progress.

Goodwill
Goodwill relates to goodwill on consolidation of the group companies. Goodwill, being the amount in connection with the acquisition of a subsidiary business in 2019, has been impaired in full in the year of acquisition.

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.

3. EMPLOYEES AND DIRECTORS
30.6.23 30.6.22
£    £   
Wages and salaries 3,534,090 3,362,731
Social security costs 269,332 234,773
Other pension costs 124,894 79,928
3,928,316 3,677,432

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

3. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
30.6.23 30.6.22

Directors 3 3
Staff 46 49
49 52

The average number of employees by undertakings that were proportionately consolidated during the year was 14 (2022 - 12 ) .

30.6.23 30.6.22
£    £   
Directors' remuneration 782,377 637,360
Directors' pension contributions to money purchase schemes 44,905 39,460

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 3 3

Information regarding the highest paid director is as follows:
30.6.23 30.6.22
£    £   
Emoluments etc 502,174 423,563
Pension contributions to money purchase schemes 34,682 29,540

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

30.6.23 30.6.22
£    £   
Hire of plant and machinery 1,670,239 2,420,274
Depreciation - owned assets 151,389 124,320
Depreciation - assets on hire purchase contracts 22,713 32,728
Profit on disposal of fixed assets (20,717 ) (1,087 )
Auditors' remuneration 20,432 34,158

5. INTEREST PAYABLE AND SIMILAR EXPENSES
30.6.23 30.6.22
£    £   
Hire purchase 970 664

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.6.23 30.6.22
£    £   
Current tax:
UK corporation tax 182,375 262,806
Tax under/over provision (11,397 ) (159,181 )
Total current tax 170,978 103,625

Deferred tax 19,769 58,622
Tax on profit 190,747 162,247

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

30.6.23 30.6.22
£    £   
Profit before tax 1,360,139 1,751,856
Profit multiplied by the standard rate of corporation tax in the UK of 20.496
% (2022 - 19 %)

278,774

332,853

Effects of:
Expenses not deductible for tax purposes (3,104 ) 5,086
Capital allowances in excess of depreciation (30,483 ) (29,103 )
Utilisation of tax losses (62,812 ) (46,030 )
Adjustments to tax charge in respect of previous periods (11,397 ) (159,181 )
Deferred tax movement 19,769 58,622
Total tax charge 190,747 162,247

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

8. DIVIDENDS
30.6.23 30.6.22
£    £   
Final 500,000 500,000
Interim 41,412 40,964
541,412 540,964

£500,000 has been paid out of CC Contracting Ltd and £41,412 paid out of the subsidiary undertaking, Serfis Construction and Engineering Ltd, to minority shareholders.

9. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2022 106,374 718,874 40,024
Additions - 116,933 341
Disposals - - -
At 30 June 2023 106,374 835,807 40,365
DEPRECIATION
At 1 July 2022 103,847 558,557 39,959
Charge for year 631 65,329 62
Eliminated on disposal - - -
At 30 June 2023 104,478 623,886 40,021
NET BOOK VALUE
At 30 June 2023 1,896 211,921 344
At 30 June 2022 2,527 160,317 65

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

9. TANGIBLE FIXED ASSETS - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 653,225 51,215 1,569,712
Additions 204,980 2,976 325,230
Disposals (141,244 ) - (141,244 )
At 30 June 2023 716,961 54,191 1,753,698
DEPRECIATION
At 1 July 2022 355,165 45,330 1,102,858
Charge for year 104,573 3,507 174,102
Eliminated on disposal (52,566 ) - (52,566 )
At 30 June 2023 407,172 48,837 1,224,394
NET BOOK VALUE
At 30 June 2023 309,789 5,354 529,304
At 30 June 2022 298,060 5,885 466,854

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 July 2022 253,290
Transfer to ownership (149,460 )
At 30 June 2023 103,830
DEPRECIATION
At 1 July 2022 155,855
Charge for year 22,713
Transfer to ownership (142,877 )
At 30 June 2023 35,691
NET BOOK VALUE
At 30 June 2023 68,139
At 30 June 2022 97,435

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

9. TANGIBLE FIXED ASSETS - continued

Company
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2022 106,374 710,847 40,024
Additions - 114,574 341
Disposals - - -
At 30 June 2023 106,374 825,421 40,365
DEPRECIATION
At 1 July 2022 103,847 554,897 39,959
Charge for year 631 62,930 62
Eliminated on disposal - - -
At 30 June 2023 104,478 617,827 40,021
NET BOOK VALUE
At 30 June 2023 1,896 207,594 344
At 30 June 2022 2,527 155,950 65

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 564,708 51,215 1,473,168
Additions 204,979 2,976 322,870
Disposals (141,244 ) - (141,244 )
At 30 June 2023 628,443 54,191 1,654,794
DEPRECIATION
At 1 July 2022 336,411 45,330 1,080,444
Charge for year 81,319 3,507 148,449
Eliminated on disposal (52,566 ) - (52,566 )
At 30 June 2023 365,164 48,837 1,176,327
NET BOOK VALUE
At 30 June 2023 263,279 5,354 478,467
At 30 June 2022 228,297 5,885 392,724

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

9. TANGIBLE FIXED ASSETS - continued

Company

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 July 2022 253,290
Transfer to ownership (149,460 )
At 30 June 2023 103,830
DEPRECIATION
At 1 July 2022 155,855
Charge for year 22,713
Transfer to ownership (142,877 )
At 30 June 2023 35,691
NET BOOK VALUE
At 30 June 2023 68,139
At 30 June 2022 97,435

10. FIXED ASSET INVESTMENTS

Group
Unlisted
investments
£   
COST
At 1 July 2022
and 30 June 2023 37,825
NET BOOK VALUE
At 30 June 2023 37,825
At 30 June 2022 37,825

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

10. FIXED ASSET INVESTMENTS - continued

Company
Unlisted
investments
£   
COST
At 1 July 2022 187,885
Disposals (5 )
At 30 June 2023 187,880
NET BOOK VALUE
At 30 June 2023 187,880
At 30 June 2022 187,885

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Serfis Construction & Engineering Limited
Registered office: Pedmore House, 102 Pedmore Road, Stourbridge, West Midlands, England, DY9 8DG
Nature of business: Civil engineering contractors
%
Class of shares: holding
Ordinary 55.00
Fixed income 100.00
30.6.23 30.6.22
£    £   
Aggregate capital and reserves 616,137 374,252
Profit for the year 338,077 228,550


11. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 1,000
NET BOOK VALUE
At 30 June 2023 1,000
At 30 June 2022 1,000

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

11. INVESTMENT PROPERTY - continued

Company
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 1,000
NET BOOK VALUE
At 30 June 2023 1,000
At 30 June 2022 1,000

Included in fair value of investment property is freehold land of £ 1,000 (2022 - £ 1,000 ) which is not depreciated.

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2007 (21,598 )
Cost 22,598
1,000

If investment property had not been revalued it would have been included at the following historical cost:

30.6.23 30.6.22
£    £   
Cost 22,598 22,598

Investment property was valued on an open market basis on 30 June 2016 by the directors .

12. STOCKS

Group Company
30.6.23 30.6.22 30.6.23 30.6.22
£    £    £    £   
Work-in-progress 156,192 192,476 146,289 156,115

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.6.23 30.6.22 30.6.23 30.6.22
£    £    £    £   
Trade debtors 3,249,568 3,484,707 2,913,718 3,217,914
Bad debt reserve (120,844 ) (12,651 ) (120,844 ) (8,673 )
Amounts owed by group undertakings 436,428 436,428 530,285 728,832
Amounts recoverable on contract 686,792 1,039,932 605,211 995,608
Other debtors 374,150 705,295 374,150 705,295
Tax 11,417 159,181 - 159,181
Deferred tax asset 6,060 25,828 - -
Prepayments 123,413 106,972 91,578 80,735
4,766,984 5,945,692 4,394,098 5,878,892

Deferred tax asset
Group Company
30.6.23 30.6.22 30.6.23 30.6.22
£    £    £    £   
Deferred tax 6,060 25,828 - -

14. CURRENT ASSET INVESTMENTS

Group Company
30.6.23 30.6.22 30.6.23 30.6.22
£    £    £    £   
Other 346,864 346,864 346,864 346,864

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.6.23 30.6.22 30.6.23 30.6.22
£    £    £    £   
Hire purchase contracts (see note 16) - 48,454 - 48,454
Payments on account 134,927 10,809 134,927 10,809
Trade creditors 822,372 1,608,578 750,839 1,552,989
Tax 52,125 262,806 52,125 262,806
Social security and other taxes 114,098 140,511 88,889 119,010
VAT 125,594 428,825 37,863 341,218
Other creditors (9,324 ) 32,034 (8,000 ) (363 )
Wages control 4,787 3,871 (350 ) (350 )
Directors' current accounts 570,147 520,155 570,147 520,155
Accruals and deferred income 554,309 482,213 534,544 459,514
2,369,035 3,538,256 2,160,984 3,314,242

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
30.6.23 30.6.22
£    £   
Net obligations repayable:
Within one year - 48,454

Company
Hire purchase contracts
30.6.23 30.6.22
£    £   
Net obligations repayable:
Within one year - 48,454

17. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
30.6.23 30.6.22 30.6.23 30.6.22
£    £    £    £   
Hire purchase contracts - 48,454 - 48,454

Unlimited debenture held by Lloyds TSB in banks standard form dated 30/6/04.

Hire purchase contracts are secured against the assets to which they relate.

18. DEFERRED TAX

Company
30.6.23 30.6.22
£    £   
Deferred tax 90,531 46,310

Group
£   
Balance at 1 July 2022 (25,828 )
Charge to Income Statement during year 19,768
Balance at 30 June 2023 (6,060 )

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

18. DEFERRED TAX - continued

Company
£   
Balance at 1 July 2022 46,310
Charge to Income Statement during year 44,221
Accelerated capital allowances
Rate movement
Balance at 30 June 2023 90,531

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
15,000 Ordinary £1 15,000 15,000

20. RESERVES

Group
Retained Other
earnings reserves Totals
£    £    £   

At 1 July 2022 6,036,762 15,000 6,051,762
Profit for the year 1,069,954 1,069,954
Dividends (541,412 ) (541,412 )
At 30 June 2023 6,565,304 15,000 6,580,304

Company
Retained Other
earnings reserves Totals
£    £    £   

At 1 July 2022 5,833,166 15,000 5,848,166
Profit for the year 888,219 888,219
Dividends (500,000 ) (500,000 )
At 30 June 2023 6,221,385 15,000 6,236,385


21. NON-CONTROLLING INTERESTS

Non-controlling interests total £118,576, which is made up of £19,138 brought forward from last year, plus £99,439 profit for the year ended 30th June 2023.

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

22. CONTINGENT LIABILITIES

There were no known material contingent liabilities at the year end.

23. CAPITAL COMMITMENTS
30.6.23 30.6.22
£    £   
Contracted but not provided for in the
financial statements - 61,590

24. POST BALANCE SHEET EVENTS

There were no post balance sheet events at the year end.