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COMPANY REGISTRATION NUMBER: 09476284
CCN Systems Limited
Unaudited Financial Statements
31 March 2024
CCN Systems Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Directors' report
1
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of income and retained earnings
3
Statement of financial position
4
Notes to the financial statements
5
CCN Systems Limited
Directors' Report
Year ended 31 March 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2024 .
Directors
The directors who served the company during the year were as follows:
Mrs H Charly
Mr S Charly
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 30 July 2024 and signed on behalf of the board by:
Mrs H Charly
Mr S Charly
Director
Director
Company Secretary
Registered office:
The Old Vicarage
Market Street
Castle Donnington
Derbyshire
DE74 2JB
CCN Systems Limited
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of CCN Systems Limited
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of CCN Systems Limited for the year ended 31 March 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given me. As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. My work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
J L GLASS LIMITED Chartered accountants
61 High Street Fareham Portsmouth PO16 7BG
30 July 2024
CCN Systems Limited
Statement of Income and Retained Earnings
Year ended 31 March 2024
2024
2023
Note
£
£
Turnover
598,739
513,137
Cost of sales
499,870
454,477
---------
---------
Gross profit
98,869
58,660
Administrative expenses
99,850
64,987
--------
--------
Operating loss
( 981)
( 6,327)
Other interest receivable and similar income
5,896
2,112
Interest payable and similar expenses
1,146
304
--------
--------
Profit/(loss) before taxation
5
3,769
( 4,519)
Tax on profit/(loss)
( 626)
( 6,141)
-------
-------
Profit for the financial year and total comprehensive income
4,395
1,622
-------
-------
Dividends paid and payable
( 4,000)
( 4,000)
Retained earnings at the start of the year
335,955
338,333
---------
---------
Retained earnings at the end of the year
336,350
335,955
---------
---------
All the activities of the company are from continuing operations.
CCN Systems Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
5,393
8,780
Current assets
Debtors
7
57,998
85,595
Cash at bank and in hand
279,046
245,163
---------
---------
337,044
330,758
Creditors: amounts falling due within one year
8
6,085
3,581
---------
---------
Net current assets
330,959
327,177
---------
---------
Total assets less current liabilities
336,352
335,957
---------
---------
Net assets
336,352
335,957
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
336,350
335,955
---------
---------
Shareholders funds
336,352
335,957
---------
---------
These financial statements have been prepared 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'.
For the year ending 31 March 2024 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 .
These financial statements were approved by the board of directors and authorised for issue on 30 July 2024 , and are signed on behalf of the board by:
Mrs H Charly
Mr S Charly
Director
Director
Company registration number: 09476284
CCN Systems Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Vicarage, Market Street, Castle Donnington, Derbyshire, DE74 2JB.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer Equipment
-
33% straight line
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 1 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
3,387
3,387
-------
-------
6. Tangible assets
Equipment
Total
£
£
Cost
At 1 April 2023 and 31 March 2024
35,627
35,627
--------
--------
Depreciation
At 1 April 2023
26,847
26,847
Charge for the year
3,387
3,387
--------
--------
At 31 March 2024
30,234
30,234
--------
--------
Carrying amount
At 31 March 2024
5,393
5,393
--------
--------
At 31 March 2023
8,780
8,780
--------
--------
7. Debtors
2024
2023
£
£
Trade debtors
611
2,878
Other debtors
57,387
82,717
--------
--------
57,998
85,595
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
421
2,681
Social security and other taxes
4,664
Other creditors
1,000
900
-------
-------
6,085
3,581
-------
-------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr S Charly
55,656
( 6,322)
49,334
--------
-------
--------
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr S Charly
61,925
( 6,269)
55,656
--------
-------
--------
10. Related party transactions
The company was under the control of Mr S Charly with effect from 1 January 2016. Mr S Charly is the managing director and joint shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Smaller Entities (effective April 2008).