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CNC 2010 Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Bencroft Dassels
Braughing
Ware
Herts
SG11 2RW
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 07454665
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 413,902 284,524
413,902 284,524
CURRENT ASSETS
Stocks 4 144,151 140,798
Debtors 5 174,936 154,713
Cash at bank and in hand 54,012 52,884
373,099 348,395
Creditors: Amounts Falling Due Within One Year 6 (175,044 ) (127,179 )
NET CURRENT ASSETS (LIABILITIES) 198,055 221,216
TOTAL ASSETS LESS CURRENT LIABILITIES 611,957 505,740
Creditors: Amounts Falling Due After More Than One Year 7 (223,276 ) (108,228 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (87,372 ) (57,248 )
NET ASSETS 301,309 340,264
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement 301,209 340,164
SHAREHOLDERS' FUNDS 301,309 340,264
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Emily Coleman
Director
07/08/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 5% on cost
Plant & Machinery 15% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 5% on cost
Computer Equipment 33% on cost
1.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
1.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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1.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 12 (2022: 12)
12 12
3. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 December 2022 69,394 436,654 506,048
Additions 10,305 184,495 194,800
As at 30 November 2023 79,699 621,149 700,848
Depreciation
As at 1 December 2022 16,022 205,502 221,524
Provided during the period 3,986 61,436 65,422
As at 30 November 2023 20,008 266,938 286,946
Net Book Value
As at 30 November 2023 59,691 354,211 413,902
As at 1 December 2022 53,372 231,152 284,524
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4. Stocks
2023 2022
£ £
Stock - materials 84,301 102,296
Stock - work in progress 59,850 38,502
144,151 140,798
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 169,496 130,686
Other debtors 5,440 8,327
174,936 139,013
Due after more than one year
Other debtors - 15,700
- 15,700
174,936 154,713
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 66,658 16,805
Trade creditors 56,687 37,863
Bank loans and overdrafts 10,000 10,000
Other creditors 11,044 3,843
Taxation and social security 30,655 58,668
175,044 127,179
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 208,276 83,228
Bank loans 15,000 25,000
223,276 108,228
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8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2022 Amounts advanced Amounts repaid Amounts written off As at 30 November 2023
£ £ £ £ £
Mr Denis Coleman 2,758 - - - -
The above loan is unsecured and repayable on demand. Interest is charge at HMRC beneficial loan arrangement offical rates.
10. General Information
CNC 2010 Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07454665 . The registered office is Bencroft Dassels, Braughing, Ware, Hertfordshire, SG11 2RW.
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