Company registration number 13415579 (England and Wales)
CC DESIGNS & GIFTS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
CC DESIGNS & GIFTS LIMITED
COMPANY INFORMATION
Directors
C D Goodwin
Mrs C R L Rigby
A J Rigby
Company number
13415579
Registered office
Unit 1, Station Yard
Recreation Road
Stoke On Trent
Staffordshire
England
ST3 5LN
Accountants
HSKS Greenhalgh Ltd
St George's House
19 Church Street
Uttoxeter
ST14 8AG
Business address
Unit 1, Station Yard
Recreation Road
Stoke On Trent
Staffordshire
England
ST3 5LN
CC DESIGNS & GIFTS LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Statement of financial position
3 - 4
Notes to the financial statements
5 - 7
CC DESIGNS & GIFTS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 1 -
The directors present their annual report and financial statements for the year ended 30 September 2023.
Principal activities
The principal activity of the company continued to be that of sign makers and online retail.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
C D Goodwin
Mrs C R L Rigby
A J Rigby
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mrs C R L Rigby
Director
30 September 2024
CC DESIGNS & GIFTS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CC DESIGNS & GIFTS LIMITED FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of CC Designs & Gifts Limited for the year ended 30 September 2023 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of CC Designs & Gifts Limited, as a body, in accordance with the terms of our engagement letter dated 30 September 2024. Our work has been undertaken solely to prepare for your approval the financial statements of CC Designs & Gifts Limited and state those matters that we have agreed to state to the board of directors of CC Designs & Gifts Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CC Designs & Gifts Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that CC Designs & Gifts Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of CC Designs & Gifts Limited. You consider that CC Designs & Gifts Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of CC Designs & Gifts Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HSKS Greenhalgh Ltd
30 September 2024
HSKS Greenhalgh Ltd is part of the Dains Group
St George's House
19 Church Street
Uttoxeter
ST14 8AG
CC DESIGNS & GIFTS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 SEPTEMBER 2023
30 September 2023
- 3 -
30 September 2023
31 May 2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
2,160
Tangible assets
4
20,948
15,319
23,108
15,319
Current assets
Stocks
20,000
15,137
Debtors
190
828
Cash at bank and in hand
1,997
3,757
22,187
19,722
Creditors: amounts falling due within one year
Taxation and social security
7,600
2,524
Other creditors
51,141
21,700
58,741
24,224
Net current liabilities
(36,554)
(4,502)
Net (liabilities)/assets
(13,446)
10,817
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
(13,546)
10,717
Total equity
(13,446)
10,817
CC DESIGNS & GIFTS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 SEPTEMBER 2023
30 September 2023
- 4 -
For the financial year ended 30 September 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 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 30 September 2024 and are signed on its behalf by:
Mrs C R L Rigby
Director
Company registration number 13415579 (England and Wales)
CC DESIGNS & GIFTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 5 -
1
Accounting policies
Company information
CC Designs & Gifts Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1, Station Yard, Recreation Road, Stoke On Trent, Staffordshire, England, ST3 5LN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Intangible fixed assets other than goodwill
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Website
20% straight line
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% reducing balance
Fixtures and fittings
15% reducing balance
Computers
33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
CC DESIGNS & GIFTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 6 -
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
5
3
CC DESIGNS & GIFTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 7 -
3
Intangible fixed assets
Total
£
Cost
At 1 June 2022
Additions
2,700
At 30 September 2023
2,700
Amortisation and impairment
At 1 June 2022
Amortisation charged for the year
540
At 30 September 2023
540
Carrying amount
At 30 September 2023
2,160
At 31 May 2022
4
Tangible fixed assets
Total
£
Cost
At 1 June 2022
18,023
Additions
9,574
At 30 September 2023
27,597
Depreciation and impairment
At 1 June 2022
2,704
Depreciation charged in the year
3,945
At 30 September 2023
6,649
Carrying amount
At 30 September 2023
20,948
At 31 May 2022
15,319
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100