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REGISTERED NUMBER: 01912504 (England and Wales)















C&C CATERING EQUIPMENT LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 17


C&C CATERING EQUIPMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: P N Kitchin
P Parry
P Farrell
M A Roxburgh
M J Kitchin
J Mundy
K Hartharn


SECRETARY: H Cotton


REGISTERED OFFICE: Quarry Buildings
Hill Road
Eccleston
Chester
Cheshire
CH4 9HQ


REGISTERED NUMBER: 01912504 (England and Wales)


SENIOR STATUTORY AUDITOR: Steven Williams


AUDITORS: Murray Smith LLP
Chartered Accountants
Statutory Auditor
Darland House
44 Winnington Hill
Northwich
Cheshire
CW8 1AU


BANKERS: NatWest
PO Box No 8
33 Eastgate Street
Chester
CH1 1XA

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024

The directors present their strategic report of the company and the group for the year ended 30 April 2024.

REVIEW OF BUSINESS AND FUTURE DEVELOPMENTS
We aim to present a balanced and comprehensive review of the development and performance of the Group during the year and its position at the year end. Our review is consistent with the size and complexity of the business and is written in the context of the risks and uncertainties that we face.

The results for the year and financial position of the Group are as shown in the annexed financial statements and we consider that our key financial performance indicators and those that communicate the financial performance and strength of the Group as a whole are turnover and profit margins.

The Group turnover for the year was £25,617,477 (2023: £24,055,740) which includes an element from the subsidiary companies of £4,947,765 (2023: £4,942,796). The Group profit margin for the year was 23.3% (2023: 20.4%) and this generated profit before tax of £2,405,754 in the year (2023: £1,886,615).

The Group operates in a highly competitive industry; therefore we are delighted with these results. We have set our budget for the coming financial year and consider that the Group is well placed to advance its financial performance in 2024/25.

As reported on page 10, the Group has a strong net asset position of £6.2 million, which is a significant increase on the previous year (2023: £5.5 million).

As a Group, we are highly focused on customer service and take pride in developing long term relationships with all of our clients and providing them with a consistently high quality service. To maintain this focus, our key assets are our staff and the systems which we adopt and we have again invested heavily in both during the past year in order to ensure that we are always delivering the best possible service in the most efficient and environmentally friendly way. We constantly review our services and monitor our monthly KPIs, which serve to both report our achievements and motivate us to seek even higher levels of service and efficiency.

PRINCIPAL RISKS AND UNCERTAINTIES
The Group faces lower risks and uncertainties to those associated with other companies operating in the catering equipment installation industry due to the credit insurance it holds with QBE, the membership of CEDA and down to the expertise and dedication of all its staff.

In particular price competition is strong and one of the difficulties faced by the company is providing a high level of service as required by clients but at a price that is competitive within the market place.

The directors are confident that they have taken appropriate steps to mitigate the impact of these risks on the Group's trading activities and expect continued success and profitability in the 2025 financial year.

ON BEHALF OF THE BOARD:





P N Kitchin - Director


11 October 2024

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 APRIL 2024

The directors present their report with the financial statements of the company and the group for the year ended 30 April 2024.

PRINCIPAL ACTIVITIES
The principal activities of the group in the year under review were those of the supply and installation of commercial catering equipment.

DIVIDENDS
During the year, interim dividends of £800,000 were paid to Ordinary A shareholders and £282,000 to Ordinary B 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 May 2023 to the date of this report.

P N Kitchin
P Parry
P Farrell
M A Roxburgh
M J Kitchin
J Mundy
K Hartharn

DONATIONS
Charitable donations of £20,075 (2023: £19,618) were made during the year.

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 CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 APRIL 2024


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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Murray Smith LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P N Kitchin - Director


11 October 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

Opinion
We have audited the financial statements of C&C Catering Equipment Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2024 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 April 2024 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 CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)


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 three, 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.

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:

The audit procedures designed to identify irregularities included:
- enquiry of management and those charged with governance around actual and potential litigation and claims;
- enquiry of company staff with responsibilities for tax and compliance matters to identify any instances of
non compliance with laws and regulations;
- reviewing financial statement disclosures and testing to supporting documentation to assess compliance with
applicable laws and regulations;
- auditing the risk of management override of controls, including through testing journal entries and other
adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the
normal course of business.

There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, intentional misrepresentations or through collusion.

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 CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)


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.




Steven Williams (Senior Statutory Auditor)
for and on behalf of Murray Smith LLP
Chartered Accountants
Statutory Auditor
Darland House
44 Winnington Hill
Northwich
Cheshire
CW8 1AU

15 October 2024

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
as restated
Notes £    £    £    £   

TURNOVER 5 25,617,477 24,055,740

Cost of sales 19,643,762 19,137,396
GROSS PROFIT 5,973,715 4,918,344

Distribution costs 648,626 434,165
Administrative expenses 3,054,336 2,767,639
3,702,962 3,201,804
2,270,753 1,716,540

Other operating income 124,994 173,641
OPERATING PROFIT 7 2,395,747 1,890,181

Interest receivable and similar income 33,545 6,953
2,429,292 1,897,134

Interest payable and similar expenses 8 23,538 10,519
PROFIT BEFORE TAXATION 2,405,754 1,886,615

Tax on profit 9 666,862 379,487
PROFIT FOR THE FINANCIAL YEAR 1,738,892 1,507,128
Profit attributable to:
Owners of the parent 1,738,892 1,507,128

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
as restated
Notes £    £   

PROFIT FOR THE YEAR 1,738,892 1,507,128


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,738,892

1,507,128
Note
Prior year adjustment 12 206,123
TOTAL COMPREHENSIVE INCOME
SINCE LAST ANNUAL REPORT

1,945,015

Total comprehensive income attributable to:
Owners of the parent 1,945,015 1,507,128

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

CONSOLIDATED BALANCE SHEET
30 APRIL 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 13 1,387,218 1,388,839
Investments 14 - -
1,387,218 1,388,839

CURRENT ASSETS
Stocks 15 161,864 193,307
Debtors 16 7,400,191 6,586,653
Cash at bank and in hand 5,341,432 4,481,697
12,903,487 11,261,657
CREDITORS
Amounts falling due within one year 17 7,615,781 6,548,703
NET CURRENT ASSETS 5,287,706 4,712,954
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,674,924

6,101,793

CREDITORS
Amounts falling due after more than one year 18 (240,627 ) (347,083 )

PROVISIONS FOR LIABILITIES 21 (195,842 ) (173,147 )
NET ASSETS 6,238,455 5,581,563

CAPITAL AND RESERVES
Called up share capital 22 10,300 10,300
Share premium 23 25,600 25,600
Profit and loss account 23 6,202,555 5,545,663
SHAREHOLDERS' FUNDS 6,238,455 5,581,563

The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2024 and were signed on its behalf by:





P N Kitchin - Director


C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

COMPANY BALANCE SHEET
30 APRIL 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 13 854,775 872,202
Investments 14 226,000 226,000
1,080,775 1,098,202

CURRENT ASSETS
Stocks 15 - 24,757
Debtors 16 6,377,429 5,594,192
Cash at bank 4,148,994 3,453,893
10,526,423 9,072,842
CREDITORS
Amounts falling due within one year 17 6,813,142 5,635,188
NET CURRENT ASSETS 3,713,281 3,437,654
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,794,056

4,535,856

CREDITORS
Amounts falling due after more than one year 18 (32,670 ) (99,217 )

PROVISIONS FOR LIABILITIES 21 (84,648 ) (65,771 )
NET ASSETS 4,676,738 4,370,868

CAPITAL AND RESERVES
Called up share capital 22 10,300 10,300
Share premium 23 25,600 25,600
Profit and loss account 23 4,640,838 4,334,968
SHAREHOLDERS' FUNDS 4,676,738 4,370,868

Company's profit for the financial year 1,387,870 1,128,298

The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2024 and were signed on its behalf by:





P N Kitchin - Director


C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024

Called up Profit
share and loss Share Total
capital account premium equity
£    £    £    £   
Balance at 1 May 2022 10,300 5,054,535 25,600 5,090,435

Changes in equity
Dividends - (1,016,000 ) - (1,016,000 )
Total comprehensive income - 1,301,005 - 1,301,005
Balance at 30 April 2023 10,300 5,339,540 25,600 5,375,440
Prior year adjustment - 206,123 - 206,123
As restated 10,300 5,545,663 25,600 5,581,563

Changes in equity
Dividends - (1,082,000 ) - (1,082,000 )
Total comprehensive income - 1,738,892 - 1,738,892
Balance at 30 April 2024 10,300 6,202,555 25,600 6,238,455

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024

Called up Profit
share and loss Share Total
capital account premium equity
£    £    £    £   
Balance at 1 May 2022 10,300 4,222,670 25,600 4,258,570

Changes in equity
Dividends - (1,016,000 ) - (1,016,000 )
Total comprehensive income - 1,128,298 - 1,128,298
Balance at 30 April 2023 10,300 4,334,968 25,600 4,370,868

Changes in equity
Dividends - (1,082,000 ) - (1,082,000 )
Total comprehensive income - 1,387,870 - 1,387,870
Balance at 30 April 2024 10,300 4,640,838 25,600 4,676,738

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
as restated
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,598,719 2,720,790
Interest paid - (714 )
Interest element of hire purchase payments
paid

(23,538

)

(9,805

)
Tax paid (296,062 ) (276,367 )
Net cash from operating activities 2,279,119 2,433,904

Cash flows from investing activities
Purchase of tangible fixed assets (554,138 ) (283,934 )
Sale of tangible fixed assets 288,968 240,577
Interest received 33,545 6,953
Net cash from investing activities (231,625 ) (36,404 )

Cash flows from financing activities
Amount repaid on hire purchase (206,679 ) (194,865 )
Amount introduced by directors 922,000 1,086,000
Amount withdrawn by directors (821,080 ) (1,706,302 )
Equity dividends paid (1,082,000 ) (1,016,000 )
Net cash from financing activities (1,187,759 ) (1,831,167 )

Increase in cash and cash equivalents 859,735 566,333
Cash and cash equivalents at beginning of
year

2

4,481,697

3,915,364

Cash and cash equivalents at end of year 2 5,341,432 4,481,697

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2024 2023
as restated
£    £   
Profit before taxation 2,405,754 1,886,615
Depreciation charges 343,894 240,051
Loss/(profit) on disposal of fixed assets 13,758 (49,469 )
Finance costs 23,538 10,519
Finance income (33,545 ) (6,953 )
2,753,399 2,080,763
Decrease/(increase) in stocks 31,443 (19,370 )
Increase in trade and other debtors (860,943 ) (1,114,520 )
Increase in trade and other creditors 674,820 1,773,917
Cash generated from operations 2,598,719 2,720,790

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 April 2024
30.4.24 1.5.23
£    £   
Cash and cash equivalents 5,341,432 4,481,697
Year ended 30 April 2023
30.4.23 1.5.22
as restated
£    £   
Cash and cash equivalents 4,481,697 3,915,364


C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024

3. ANALYSIS OF CHANGES IN NET FUNDS

Other
non-cash
At 1.5.23 Cash flow changes At 30.4.24
£    £    £    £   
Net cash
Cash at bank
and in hand 4,481,697 859,735 5,341,432
4,481,697 859,735 5,341,432
Debt
Finance leases (490,696 ) 206,679 (90,860 ) (374,877 )
(490,696 ) 206,679 (90,860 ) (374,877 )
Total 3,991,001 1,066,414 (90,860 ) 4,966,555

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

C&C Catering Equipment 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The presentation currency is £ sterling.

Basis of consolidation
The consolidated financial statements present the results of the Company and its subsidiary undertakings ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The results of subsidiaries acquired are consolidated for the periods from which control passes to the Group. Acquisitions are accounted for under the acquisition method.

Related party exemption
Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the Group.

Revenue from contracts is recognised by reference to the stage of completion of the contract, at the end of the reporting period, provided that the outcome can be reliably measured, including the amount of revenue, the stage of completion, the costs incurred, the costs to complete the contract and that it is probable that the Group will receive the consideration due under the contract. The stage of completion of the contract at the end of the reporting period is determined by surveys of the work performed.

Gross amounts due from customers for contract work is shown as a debtor. The amount due comprises costs incurred plus profits less the sum of recognised losses and progress billings. Gross amounts due to customers for contract work is where the sum of recognised losses and progress billings exceeds costs incurred plus recognised profits and this amount is shown as a creditor.

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - 2% on cost
Improvements to property - 2% on cost
Plant and machinery - 33% on cost and 15% on cost
Fixtures and fittings - 15- 33% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Investment property
Investment property that is rented to another group company is accounted for using the cost model in accordance with section 17 of FRS 102.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the profit and loss account.

Financial instruments
Basic financial assets and liabilities are initially recognised at the transaction price unless the arrangement constitutes a financing transaction where the transaction is measured at the present value of the future payments discounted at a market rate of interest.

Such assets and liabilities are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

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 CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. 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 arrangements
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Rental income from operating leases is credited to profit or loss on a straight line basis over the term of the relevant lease.

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.

Cash and cash equivalents
Cash and cash equivalents includes cash at bank and in hand less bank overdrafts.

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of financial statements requires the Company's management to make judgements, assumptions and estimates that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expense. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The following are critical judgements and estimates that the directors have made in the process of applying the Company's accounting policies and that have the most significant effect on amounts recognised in the financial statements:

Revenue and margin recognition

Revenue and margins on construction contracts are measured throughout the life cycle of the contract based on the expected contract value and costs for each contract. Adjustments are made where actual costs exceed forecast costs in the period to which they relate. Provisions are made against non-recoverable revenue and loss making contracts and ongoing estimations are made for rectification works.

Depreciation of tangible fixed assets

Tangible fixed assets are depreciated over their useful economic lives, taking into account residual values where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors.

Carrying value of trade and other debtors

Allowances for doubtful debt and provisions against debtors, including amounts due on construction contracts and carrying value of deferred income, are made on a specific basis, based on estimates of recoverability determined by market knowledge and past experience

Deferred tax

Deferred tax in respect of timing differences that have originated but not reversed at the balance sheet date is measured using tax rates that have been enacted, or substantively enacted, by the year end date. This is the tax rate that is expected to apply to the reversal of those timing differences at a future date but this may vary to the actual rate enacted at that future date.

5. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the group.

An analysis of turnover by class of business is given below:

2024 2023
as restated
£    £   
Sale of goods 6,670,988 6,758,614
Rendering of services 2,612,776 2,323,037
Construction contracts 16,333,713 14,974,089
25,617,477 24,055,740

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. EMPLOYEES AND DIRECTORS

2024 2023

£    £   

Wages and salaries 3,631,262 3,346,926
Social security costs 404,325 384,541
Other pension costs 307,458 194,816
4,343,045 3,926,283

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

2024 2023

Directors 7 6
Administration staff 13 13
Contracts staff 33 31
Production staff 20 20
73 70


2024 2023
as restated
£    £   
Directors' remuneration 685,881 656,157
Directors' pension contributions to money purchase schemes 128,545 68,106

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

Money purchase schemes 7 7

Information regarding the highest paid director is as follows:
2024 2023
as restated
£    £   
Emoluments etc 216,000 210,229
Pension contributions to money purchase schemes 67,416 10,696

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. OPERATING PROFIT

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

2024 2023
as restated
£    £   
Hire of plant and machinery 12,060 17,552
Depreciation - owned assets 173,624 135,052
Depreciation - assets on hire purchase contracts 170,270 104,999
Loss/(profit) on disposal of fixed assets 13,758 (49,469 )
Auditors' remuneration 22,800 21,450
Operating lease payments 70,862 79,130

8. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
as restated
£    £   
Corporation tax interest - 714
Hire purchase 23,538 9,805
23,538 10,519

9. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
as restated
£    £   
Current tax:
UK corporation tax 644,167 271,061

Deferred tax 22,695 108,426
Tax on profit 666,862 379,487

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. TAXATION - continued

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

2024 2023
as restated
£    £   
Profit before tax 2,405,754 1,886,615
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 25 %)

601,439

471,654

Effects of:
Expenses not deductible for tax purposes 13,892 12,233
Capital allowances in excess of depreciation - (28,920 )
Adjustments to tax charge in respect of previous periods 51,531 -
Change in rate of tax in respect of deferred tax - 4,380
Change in rate of tax during the year - (76,577 )
Effect of prior year adjustment - (3,283 )
Total tax charge 666,862 379,487

10. 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.


11. DIVIDENDS
2024 2023
as restated
£    £   
Ordinary "A" shares shares of £1 each
Interim 800,000 800,000
Ordinary "B" shares shares of £1 each
Interim 282,000 216,000
1,082,000 1,016,000

12. PRIOR YEAR ADJUSTMENT

The comparative amounts for accruals and deferred income, prepayments and the profit and loss reserve have been restated due to an error identified in the way that deferred income had previously been calculated in one of the subsidiary companies. As a result of the prior year adjustment the net assets of the group at the prior year end have increased by £206,123. The profit effect of this adjustment is an increase of profits recognised in the year to 30 April 2023 of £13,131 and £192,992 increase in relation to the years 30 April 2022 and prior.

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

13. TANGIBLE FIXED ASSETS

Group
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1 May 2023 425,052 85,381 303,391
Additions - - 18,989
Disposals - (26,405 ) (52,640 )
At 30 April 2024 425,052 58,976 269,740
DEPRECIATION
At 1 May 2023 59,507 32,807 269,696
Charge for year 8,501 1,179 26,134
Eliminated on disposal - (26,405 ) (52,640 )
At 30 April 2024 68,008 7,581 243,190
NET BOOK VALUE
At 30 April 2024 357,044 51,395 26,550
At 30 April 2023 365,545 52,574 33,695

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 250,999 1,184,828 128,216 2,377,867
Additions 28,207 590,851 6,952 644,999
Disposals (137,445 ) (500,060 ) (43,978 ) (760,528 )
At 30 April 2024 141,761 1,275,619 91,190 2,262,338
DEPRECIATION
At 1 May 2023 218,666 294,473 113,879 989,028
Charge for year 23,308 275,661 9,111 343,894
Eliminated on disposal (136,086 ) (198,693 ) (43,978 ) (457,802 )
At 30 April 2024 105,888 371,441 79,012 875,120
NET BOOK VALUE
At 30 April 2024 35,873 904,178 12,178 1,387,218
At 30 April 2023 32,333 890,355 14,337 1,388,839

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

13. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023 857,141
Additions 150,381
Disposals (241,920 )
Transfer to ownership (43,490 )
At 30 April 2024 722,112
DEPRECIATION
At 1 May 2023 163,850
Charge for year 170,270
Eliminated on disposal (92,586 )
Transfer to ownership (27,054 )
At 30 April 2024 214,480
NET BOOK VALUE
At 30 April 2024 507,632
At 30 April 2023 693,291

Company
Fixtures
Long and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 425,052 250,999 706,967 1,383,018
Additions - 19,135 414,970 434,105
Disposals - (137,445 ) (443,460 ) (580,905 )
At 30 April 2024 425,052 132,689 678,477 1,236,218
DEPRECIATION
At 1 May 2023 59,507 218,666 232,643 510,816
Charge for year 8,501 22,114 142,900 173,515
Eliminated on disposal - (136,086 ) (166,802 ) (302,888 )
At 30 April 2024 68,008 104,694 208,741 381,443
NET BOOK VALUE
At 30 April 2024 357,044 27,995 469,736 854,775
At 30 April 2023 365,545 32,333 474,324 872,202

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

13. TANGIBLE FIXED ASSETS - continued

Company

The long leasehold property included above is rented to another group entity.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023 392,540
Disposals (195,980 )
Transfer to ownership (43,490 )
At 30 April 2024 153,070
DEPRECIATION
At 1 May 2023 109,716
Charge for year 41,891
Eliminated on disposal (66,879 )
Transfer to ownership (27,054 )
At 30 April 2024 57,674
NET BOOK VALUE
At 30 April 2024 95,396
At 30 April 2023 282,824

14. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 226,000
NET BOOK VALUE
At 30 April 2024 226,000
At 30 April 2023 226,000

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

14. FIXED ASSET INVESTMENTS - continued

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

Subsidiaries

C & C Catering Fabrications Limited
Registered office: Quarry Buildings, Hill Road, Eccleston, Chester, Cheshire CH4 9HQ
Nature of business: Manufacture of fabricated metal products
%
Class of shares: holding
Ordinary 100.00

C & C Catering Engineers Limited
Registered office: Quarry Buildings, Hill Road, Eccleston, Chester, Cheshire CH4 9HQ
Nature of business: Service and maintenance of catering equipment
%
Class of shares: holding
Ordinary 100.00

C & C Catering Refrigeration Limited
Registered office: Quarry Buildings, Hill Road, Eccleston, Chester, Cheshire CH4 9HQ
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00


All of the subsidiaries listed above have been included in the consolidated financial statements of the Group.

C & C Catering Equipment Limited is the immediate parent company of C & C Catering Engineers Ltd and C & C Catering Fabrications Limited.

C & C Catering Refrigeration Limited is a wholly owned subsidiary of C & C Catering Engineers Limited.

15. STOCKS

Group Company
2024 2023 2024 2023
as restated as restated
£    £    £    £   
Raw materials and consumables 161,864 193,307 - 24,757

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
as restated as restated
£    £    £    £   
Trade debtors 6,271,649 5,423,709 5,527,492 4,717,301
Amounts owed by group undertakings - - 8,919 10,886
Gross amounts due from customers for
contract work

16,062

227,871

16,062

227,871
Other debtors 282,768 11,932 336,249 10,236
Amounts due from other related parties 260,300 260,300 260,300 260,300
Directors' current accounts 28,440 33,360 28,440 33,360
Prepayments 540,972 629,481 199,967 334,238
7,400,191 6,586,653 6,377,429 5,594,192

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
as restated as restated
£    £    £    £   
Hire purchase contracts (see note 19) 134,250 143,613 23,507 48,535
Gross amounts due to customers for contract
work

564,644

530,515

564,644

530,515
Trade creditors 5,155,539 3,999,251 4,361,547 3,229,237
Amounts owed to group undertakings - - 646,784 551,837
Corporation tax 519,167 171,062 332,225 94,551
Social security and other taxes 103,271 256,597 46,436 127,551
Other creditors - 30,000 - 30,000
Directors' current accounts 282,000 186,000 282,000 186,000
Accruals and deferred income 856,910 1,231,665 555,999 836,962
7,615,781 6,548,703 6,813,142 5,635,188

18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2024 2023 2024 2023
as restated as restated
£    £    £    £   
Hire purchase contracts (see note 19) 240,627 347,083 32,670 99,217

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

19. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
as restated
£    £   
Net obligations repayable:
Within one year 134,250 143,613
Between one and five years 240,627 347,083
374,877 490,696

Company
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 23,507 48,535
Between one and five years 32,670 99,217
56,177 147,752

Group
Non-cancellable operating leases
2024 2023
as restated
£    £   
Within one year 18,748 55,303
Between one and five years 65,772 11,500
84,520 66,803

Company
Non-cancellable operating leases
2024 2023
as restated
£    £   
Within one year - 51,350
Between one and five years - 11,500
- 62,850

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

20. SECURED DEBTS

The following secured debts are included within creditors:

Group
2024 2023
as restated
£    £   
Hire purchase contracts 374,877 490,696

The bank holds a first legal charge over the property owned by the group, together with fixed and floating charges over the assets of all group companies.

Hire purchase contracts are secured on the assets to which they relate. The net book value of the assets pledged as security is shown in the fixed asset note above.

21. PROVISIONS FOR LIABILITIES

Group Company
2024 2023 2024 2023
as restated as restated
£    £    £    £   
Deferred tax
Accelerated capital allowances 195,842 173,147 84,648 65,771

Group
Deferred
tax
£   
Balance at 1 May 2023 173,147
Charge to Income Statement during year 22,695
Balance at 30 April 2024 195,842

Company
Deferred
tax
£   
Balance at 1 May 2023 65,771
Charge to Income Statement during year 18,877
Balance at 30 April 2024 84,648

C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

22. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as restated
£    £   
9,700 Ordinary "A" shares £1 9,700 9,700
600 Ordinary "B" shares £1 600 600
10,300 10,300

23. RESERVES

Group
Profit
and loss Share
account premium Totals
£    £    £   

At 1 May 2023 5,339,540 25,600 5,365,140
Prior year adjustment 206,123 206,123
5,545,663 5,571,263
Profit for the year 1,738,892 1,738,892
Dividends (1,082,000 ) (1,082,000 )
At 30 April 2024 6,202,555 25,600 6,228,155

Company
Profit
and loss Share
account premium Totals
£    £    £   

At 1 May 2023 4,334,968 25,600 4,360,568
Profit for the year 1,387,870 1,387,870
Dividends (1,082,000 ) (1,082,000 )
At 30 April 2024 4,640,838 25,600 4,666,438


C&C CATERING EQUIPMENT LIMITED (REGISTERED NUMBER: 01912504)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

24. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
as restated
£    £   
M A Roxburgh
Balance outstanding at start of year 23,189 27,058
Amounts repaid (3,460 ) (3,869 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 19,729 23,189

J Mundy
Balance outstanding at start of year 10,171 -
Amounts advanced - 11,594
Amounts repaid (1,460 ) (1,423 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,711 10,171

Interest is charged on the balances outstanding at an annual rate of 2.5%.

25. POST BALANCE SHEET EVENTS

On 6 June 2024 the company entered into a 10 year lease agreement for new trading premises. The total commitment up to the break date of 5 June 2029 is £288,500.