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REGISTERED NUMBER: 07893180 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

C.C. BETTS & SON LIMITED

C.C. BETTS & SON LIMITED (REGISTERED NUMBER: 07893180)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


C.C. BETTS & SON LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTOR: Miss R Betts





REGISTERED OFFICE: 2-4 Ingate
Beccles
Suffolk
NR34 9RU





REGISTERED NUMBER: 07893180 (England and Wales)





ACCOUNTANTS: Sexty & Co
Chartered Certified Accountants
124 Thorpe Road
Norwich
Norfolk
NR1 1RS

C.C. BETTS & SON LIMITED (REGISTERED NUMBER: 07893180)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 46,000 51,750
Tangible assets 5 41,178 37,828
87,178 89,578

CURRENT ASSETS
Stocks 6 146,696 153,527
Debtors 7 30,269 27,952
Cash at bank and in hand 43,758 42,811
220,723 224,290
CREDITORS
Amounts falling due within one year 8 207,480 236,200
NET CURRENT ASSETS/(LIABILITIES) 13,243 (11,910 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

100,421

77,668

PROVISIONS FOR LIABILITIES 7,000 6,000
NET ASSETS 93,421 71,668

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 93,321 71,568
SHAREHOLDERS' FUNDS 93,421 71,668

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

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

The director acknowledges her 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. BETTS & SON LIMITED (REGISTERED NUMBER: 07893180)

BALANCE SHEET - continued
31 December 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 director and authorised for issue on 12 August 2024 and were signed by:





Miss R Betts - Director


C.C. BETTS & SON LIMITED (REGISTERED NUMBER: 07893180)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

C.C. Betts & Son 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 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.

The financial statements are presented in pounds sterling and are rounded to the nearest pound.

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

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

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
Plant and machinery - 15% on reducing balance
Fixture and fitting s - 10% on cost
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on cost

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.

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.

C.C. BETTS & SON LIMITED (REGISTERED NUMBER: 07893180)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 115,000
AMORTISATION
At 1 January 2023 63,250
Charge for year 5,750
At 31 December 2023 69,000
NET BOOK VALUE
At 31 December 2023 46,000
At 31 December 2022 51,750

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 48,253 36,844 24,047 19,366 128,510
Additions - - 12,950 - 12,950
At 31 December 2023 48,253 36,844 36,997 19,366 141,460
DEPRECIATION
At 1 January 2023 31,973 23,175 16,168 19,366 90,682
Charge for year 2,442 2,992 4,166 - 9,600
At 31 December 2023 34,415 26,167 20,334 19,366 100,282
NET BOOK VALUE
At 31 December 2023 13,838 10,677 16,663 - 41,178
At 31 December 2022 16,280 13,669 7,879 - 37,828

6. STOCKS
2023 2022
£    £   
Stocks 146,696 153,527

C.C. BETTS & SON LIMITED (REGISTERED NUMBER: 07893180)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 29,416 27,163
Other debtors 853 789
30,269 27,952

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 13,594 10,189
Taxation and social security 18,163 16,050
Other creditors 175,723 209,961
207,480 236,200