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REGISTERED NUMBER: 02691252 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 30 June 2024

for

C C Contracting Limited

C C Contracting Limited (Registered number: 02691252)






Contents of the Consolidated Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 19


C C Contracting Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: P J Child
A J Holt
N S L Child
L A Smith





SECRETARY: N S L Child





REGISTERED OFFICE: Pedmore House
102 Pedmore Road
Stourbridge
West Midlands
DY9 8DG





REGISTERED NUMBER: 02691252 (England and Wales)





AUDITORS: Griffiths Marshall
4th Floor
Llanthony Warehouse
The Docks
Gloucester
Gloucestershire
GL1 2EH

C C Contracting Limited (Registered number: 02691252)

Group Strategic Report
for the Year Ended 30 June 2024

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

REVIEW OF BUSINESS
The principal activities for the year continued to be civil engineering construction works, with an emphasis on the groundwork element of construction.

The Key financial performance indicators for the company are:

2024 2023 %change
Turnover £18,426,577 £14,916,088 23.53%
Profit before tax £1,561,666 £1,360,139 14.82%
Equity shareholder funds £7,144,230 £6,595,339 8.97%

The board continues to make great efforts to have a good spread of work with in excess of 60% always being non-subcontract, in an attempt to minimise financial risk and over exposure in one area. The increase in turnover is simply down to the ever changing nature of our contracts and the efforts made to continue to satisfy our customers by providing good service at a competitive price.

The underlying balance sheet for the company has strengthened during the year in which net assets have increased by £622,620 to £7,336,536 as at 30th June 2024.

The group's current ratio remains strong and has increased on 2023. We consistently have sufficient liquidity in the business to manage our day to day requirements.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks facing the group are grouped into the following categories - competitive, legislative and financial instrument risk.

Competitive Risks
The group is to a large degree dependent on good spread of clients and strive to maintain this spread to avoid being at risk of one declining workstream. We operate in a very competitive marketplace but our style of management, the level of service we offer our clients and our control of our own workforce sets us apart from our competitors. This in turn provides us with an excellent stream of repeat business from our loyal customer base.

Legislative Risks
All our business is conducted in the UK and whilst changes in legislation can always pose a risk, we are now aware of any factors that would impose a greater degree of risk to us than others.

Financial Instrument Risks
As all our work is carried out on UK mainland, we do not have to worry about exchange rate issues. The few foreign companies we deal with we insist upon being paid in sterling.

Credit risk occurs whenever the group offers its services on credit terms to its clients. Group policies are designed to ensure that all appropriate credit checks are carried out on prospective and current clients and the credit performance of those clients is continually monitored. Details of the company's debtors' position are included in the notes to the financial statements.

Liquidity risk is the risk of the group being unable to meet obligations associated with financial liabilities. The group mitigates this risk through close management of its current and future cash flows. We maintain a strong cashflow and as such we remain in a strong financial position.

FUTURE DEVELOPMENTS
The directors aim to maintain the management policies, which have resulted in the group's performance to date. We do not foresee any great changes in revenue going forward, but we continue in uncertain times now due to potential recession and the war in Ukraine. We remain positive though and aim to maintain a steady business. We have a reasonable order book looking forward and potential projects being discussed for 2026 already too.


C C Contracting Limited (Registered number: 02691252)

Group Strategic Report
for the Year Ended 30 June 2024

GOING CONCERN
The group's business activities, together with the factors likely to affect its future development, its financial position, financial risk management objectives, details of its financial instruments and its exposures to currency, credit and liquidity risk are disclosed in the Strategic Report.

The group has sufficient financial resources, together with a number of ongoing client contracts. As a consequence, the directors believe the business is well placed to manage its business risks successfully.

After making enquiries, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

ON BEHALF OF THE BOARD:





Director


18 March 2025

C C Contracting Limited (Registered number: 02691252)

Report of the Directors
for the Year Ended 30 June 2024

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

DIVIDENDS
An interim dividend of £33.33334 per share was paid on 8 April 2024. The directors recommend that no final dividend be paid.

**ERROR - CONFLICTS FOUND BETWEEN POSTINGS AND SHARE REGISTER - PLEASE REVIEW EXCEPTION REPORT (EXR).


The total distribution of dividends for the year ended 30 June 2024 will be £ 500,000 .

A dividend of £500,000 has been paid out of CC Contracting Ltd and £47,087 paid out of the subsidiary undertaking, Serfis Construction and Engineering Ltd, to minority 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 July 2023 to the date of this report.

P J Child
A J Holt
N S L Child

Other changes in directors holding office are as follows:

L A Smith - appointed 3 June 2024

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 Contracting Limited (Registered number: 02691252)

Report of the Directors
for the Year Ended 30 June 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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





P J Child - Director


18 March 2025

Report of the Independent Auditors to the Members of
C C Contracting Limited

Opinion
We have audited the financial statements of C C Contracting Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 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 June 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 Contracting Limited


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.
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and from the requirement to prepare a strategic report.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, 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.

Report of the Independent Auditors to the Members of
C C Contracting Limited


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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We gained an understanding of the legal and regulatory framework applicable to C C Contracting Limited and the industry in which it operates and, considered the risk of acts by Management and directors of C C Contracting Limited which were contrary to applicable laws and regulations, including fraud. These included but were not limited to compliance with the Companies Act 2006 and Employment Law. We made enquiries of the Directors to obtain further understanding of risks of non-compliance.

We focused on laws and regulations that could give rise to a material misstatement in the financial statements. Our tests included, but were not limited to:

- agreement of the financial statement disclosures to underlying supporting documentation;
- enquiries of management regarding known or suspected instances of non-compliance with laws and regulations;
- review of minutes of the Board meetings throughout the year; and
- obtaining an understanding of the control environment in place to prevent and detect irregularities.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that 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, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed 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 are to become aware of it.

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.

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.




Greg Lewis (Senior Statutory Auditor)
for and on behalf of Griffiths Marshall
4th Floor
Llanthony Warehouse
The Docks
Gloucester
Gloucestershire
GL1 2EH

18 March 2025

C C Contracting Limited (Registered number: 02691252)

Consolidated Income Statement
for the Year Ended 30 June 2024

2024 2023
Notes £    £   

TURNOVER 18,426,577 14,916,088

Cost of sales 13,938,958 10,936,590
GROSS PROFIT 4,487,619 3,979,498

Administrative expenses 2,996,258 2,650,794
1,491,361 1,328,704

Other operating income 6,517 5,897
OPERATING PROFIT 4 1,497,878 1,334,601

Interest receivable and similar income 63,792 26,513
1,561,670 1,361,114

Interest payable and similar expenses 5 - 970
PROFIT BEFORE TAXATION 1,561,670 1,360,144

Tax on profit 6 391,959 190,747
PROFIT FOR THE FINANCIAL YEAR 1,169,711 1,169,397
Profit attributable to:
Owners of the parent 1,091,329 1,028,547
Non-controlling interests 78,382 140,850
1,169,711 1,169,397

C C Contracting Limited (Registered number: 02691252)

Consolidated Other Comprehensive Income
for the Year Ended 30 June 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 1,169,711 1,169,397


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,169,711

1,169,397

Total comprehensive income attributable to:
Owners of the parent 1,091,329 1,028,547
Non-controlling interests 78,382 140,850
1,169,711 1,169,397

C C Contracting Limited (Registered number: 02691252)

Consolidated Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 640,376 529,304
Investments 10 37,825 37,825
Investment property 11 1,000 1,000
679,201 568,129

CURRENT ASSETS
Stocks 12 180,012 156,192
Debtors 13 5,762,369 4,766,984
Investments 14 346,864 346,864
Cash at bank and in hand 2,723,191 3,244,782
9,012,436 8,514,822
CREDITORS
Amounts falling due within one year 15 2,292,262 2,369,031
NET CURRENT ASSETS 6,720,174 6,145,791
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,399,375

6,713,920

PROVISIONS FOR LIABILITIES 17 62,835 -
NET ASSETS 7,336,540 6,713,920

CAPITAL AND RESERVES
Called up share capital 18 15,000 15,035
Other reserves 19 15,000 15,000
Retained earnings 19 7,144,234 6,565,309
SHAREHOLDERS' FUNDS 7,174,234 6,595,344

NON-CONTROLLING INTERESTS 20 162,306 118,576
TOTAL EQUITY 7,336,540 6,713,920

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:





P J Child - Director


C C Contracting Limited (Registered number: 02691252)

Company Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 609,183 478,467
Investments 10 187,880 187,880
Investment property 11 1,000 1,000
798,063 667,347

CURRENT ASSETS
Stocks 12 157,895 146,289
Debtors 13 5,247,087 4,394,098
Investments 14 346,864 346,864
Cash at bank and in hand 2,463,009 2,948,302
8,214,855 7,835,553
CREDITORS
Amounts falling due within one year 15 2,103,085 2,160,984
NET CURRENT ASSETS 6,111,770 5,674,569
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,909,833

6,341,916

PROVISIONS FOR LIABILITIES 17 113,454 90,531
NET ASSETS 6,796,379 6,251,385

CAPITAL AND RESERVES
Called up share capital 18 15,000 15,000
Other reserves 19 15,000 15,000
Retained earnings 19 6,766,379 6,221,385
SHAREHOLDERS' FUNDS 6,796,379 6,251,385

Company's profit for the financial year 1,044,994 888,219

C C Contracting Limited (Registered number: 02691252)

Company Balance Sheet - continued
30 June 2024


The financial statements were approved by the Board of Directors and authorised for issue on 11 March 2025 and were signed on its behalf by:





P J Child - Director


C C Contracting Limited (Registered number: 02691252)

Consolidated Statement of Changes in Equity
for the Year Ended 30 June 2024

Called up
share Retained Other
capital earnings reserves
£    £    £   
Balance at 1 July 2022 15,035 6,036,762 15,000

Changes in equity
Dividends - (500,000 ) -
Total comprehensive income - 1,028,547 -
Balance at 30 June 2023 15,035 6,565,309 15,000

Changes in equity
Issue of share capital (35 ) - -
Dividends - (500,000 ) -
Total comprehensive income - 1,078,930 -
Adjustment for sale of interest in
Subsidiary

-

-

-
Balance at 30 June 2024 15,000 7,144,239 15,000
Non-controlling Total
Total interests equity
£    £    £   
Balance at 1 July 2022 6,066,797 19,138 6,085,935

Changes in equity
Dividends (500,000 ) (41,412 ) (541,412 )
Total comprehensive income 1,028,547 140,850 1,169,397
Balance at 30 June 2023 6,595,344 118,576 6,713,920

Changes in equity
Issue of share capital (35 ) - (35 )
Dividends (500,000 ) (47,087 ) (547,087 )
Total comprehensive income 1,078,930 78,382 1,157,312
Adjustment for sale of interest in
Subsidiary

-

12,434

12,434
Balance at 30 June 2024 7,174,239 162,305 7,336,544

C C Contracting Limited (Registered number: 02691252)

Company Statement of Changes in Equity
for the Year Ended 30 June 2024

Called up
share Retained Other Total
capital earnings reserves equity
£    £    £    £   
Balance at 1 July 2022 15,000 5,833,166 15,000 5,863,166

Changes in equity
Dividends - (500,000 ) - (500,000 )
Total comprehensive income - 888,219 - 888,219
Balance at 30 June 2023 15,000 6,221,385 15,000 6,251,385

Changes in equity
Dividends - (500,000 ) - (500,000 )
Total comprehensive income - 1,044,994 - 1,044,994
Balance at 30 June 2024 15,000 6,766,379 15,000 6,796,379

C C Contracting Limited (Registered number: 02691252)

Consolidated Cash Flow Statement
for the Year Ended 30 June 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,213,200 1,575,365
Interest element of hire purchase or finance
lease rental payments paid

-

(970

)
Tax paid (155,946 ) (233,895 )
Net cash from operating activities 2,057,254 1,340,500

Cash flows from investing activities
Purchase of tangible fixed assets (351,586 ) (325,231 )
Sale of tangible fixed assets 13,950 109,395
Interest received 63,792 26,513
Net cash from investing activities (273,844 ) (189,323 )

Cash flows from financing activities
Capital HP repayments in year - (48,454 )
Net movement in director loans - 500,000
Amount withdrawn by directors (1,757,908 ) (450,008 )
Equity dividends paid (500,000 ) (500,000 )
Dividends paid to minority interests (47,087 ) (41,412 )
Net cash from financing activities (2,304,995 ) (539,874 )

(Decrease)/increase in cash and cash equivalents (521,585 ) 611,303
Cash and cash equivalents at beginning of
year

2

3,244,782

2,633,480

Cash and cash equivalents at end of year 2 2,723,191 3,244,782

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 30 June 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 1,561,670 1,360,144
Depreciation charges 240,514 174,103
Profit on disposal of fixed assets (13,950 ) (20,717 )
Finance costs - 970
Finance income (63,792 ) (26,513 )
1,724,442 1,487,987
(Increase)/decrease in stocks (23,820 ) 36,284
Decrease in trade and other debtors 181,021 1,011,175
Increase/(decrease) in trade and other creditors 331,557 (960,081 )
Cash generated from operations 2,213,200 1,575,365

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 June 2024
30.6.24 1.7.23
£    £   
Cash and cash equivalents 2,723,191 3,244,782
Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 3,244,782 2,633,480


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.23 Cash flow At 30.6.24
£    £    £   
Net cash
Cash at bank and in hand 3,244,782 (521,591 ) 2,723,191
3,244,782 (521,591 ) 2,723,191

Liquid resources
Current asset investments 346,864 - 346,864
346,864 - 346,864
Total 3,591,646 (521,591 ) 3,070,055

C C Contracting Limited (Registered number: 02691252)

Error Messages from the Consolidated Cash Flow Statement
for the Year Ended 30 June 2024


** CURRENT YEAR - MOVEMENT IN CASH AND CASH EQUIVALENTS
AS CALCULATED IN CONSOLIDATED CASH FLOW STATEMENT
DOES NOT AGREE TO MOVEMENT PER BALANCE SHEET

COMPARE MOVEMENT ON CONSOLIDATED CASH FLOW
STATEMENT

=

(521,585

)


TO MOVEMENT PER BALANCE SHEET
CASH AND CASH EQUIVALENTS = (521,591 )



** LAST YEAR - MOVEMENT IN CASH AND CASH EQUIVALENTS
AS CALCULATED IN CONSOLIDATED CASH FLOW STATEMENT
DOES NOT AGREE TO MOVEMENT PER BALANCE SHEET

COMPARE MOVEMENT ON CONSOLIDATED CASH FLOW
STATEMENT

=

611,303


TO MOVEMENT PER BALANCE SHEET
CASH AND CASH EQUIVALENTS = 611,302



C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

C C Contracting 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. 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The group financial statements have been prepared under the provision of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 of the Companies Act 2006 and applicable accounting standards.

The consolidated financial statements incorporate the financial statements of the company and entities that continue to be controlled by the Group (its subsidiaries). Control exists where the Group has the power to govern the financial and operating policies of the entity; generally conferred by holding a majority of voting rights. All intra-group balances, transactions, income and expenses are eliminated on consolidation. The consolidated accounts are prepared using uniform accounting policies.

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

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

Investment property
Investment property is valued by the directors at current market value.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

2. 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 commitments
Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and
depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance
charges, are included in creditors. Leasing payments are treated as consisting of capital and interest elements, and interest is charged to the profit and loss account on a straight-line basis which is considered to be a reasonable approximation to a constant rate of charge on the outstanding balance.

Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease. Where no lease is in place, the rentals are charges to the profit and loss account as and when paid.

The benefits of lease incentives are recognised in profit and loss account over the lease period

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.

Debtors
Trade debtors includes the value of contractual work in progress.

Goodwill
Goodwill relates to goodwill on consolidation of the group companies. Goodwill, being the amount in connection with the acquisition of a subsidiary business in 2019, has been impaired in full in the year of acquisition.

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.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 4,151,066 3,534,090
Social security costs 289,991 269,332
Other pension costs 95,518 124,894
4,536,575 3,928,316

The average number of employees during the year was as follows:
2024 2023

Directors 3 3
Staff 51 46
54 49

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

3. EMPLOYEES AND DIRECTORS - continued

The average number of employees by undertakings that were proportionately consolidated during the year was 12 (2023 - 14 ) .

2024 2023
£    £   
Directors' remuneration 949,195 782,377
Directors' pension contributions to money purchase schemes 42,792 44,905

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

Money purchase schemes 3 3

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 581,571 502,174
Pension contributions to money purchase schemes 24,882 34,682

4. OPERATING PROFIT

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

2024 2023
£    £   
Hire of plant and machinery 2,757,713 1,670,239
Depreciation - owned assets 240,514 151,390
Depreciation - assets on hire purchase contracts or finance leases - 22,713
Profit on disposal of fixed assets (13,950 ) (20,717 )
Auditors' remuneration 25,065 20,432

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Hire purchase - 970

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 325,945 182,375
Tax under/over provision (2,881 ) (11,397 )
Total current tax 323,064 170,978

Deferred tax 68,895 19,769
Tax on profit 391,959 190,747

UK corporation tax has been charged at 25 % .

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
£    £   
Profit before tax 1,561,666 1,360,139
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 20.496 %)

390,417

278,774

Effects of:
Expenses not deductible for tax purposes 9,241 (3,104 )
Capital allowances in excess of depreciation (16,383 ) (30,483 )
Utilisation of tax losses (57,330 ) (62,812 )
Adjustments to tax charge in respect of previous periods (2,881 ) (11,397 )
Deferred tax movement 68,895 19,769
Total tax charge 391,959 190,747

** PROFIT BEFORE TAX FOR CURRENT YEAR ON CLIENT SCREEN OF 1,561,666
DOES NOT AGREE TO AMOUNT ON INCOME STATEMENT OF 1,561,670

** PROFIT BEFORE TAX FOR LAST YEAR ON CLIENT SCREEN OF 1,360,139
DOES NOT AGREE TO AMOUNT ON INCOME STATEMENT OF 1,360,144

7. 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.


C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

8. DIVIDENDS

**ERROR - CONFLICTS FOUND BETWEEN POSTINGS AND SHARE REGISTER - PLEASE REVIEW EXCEPTION REPORT (EXR).

2024 2023
£    £   
Final - 500,000
Interim 500,000 -
500,000 500,000

£500,000 has been paid out of CC Contracting Ltd and £47,087 paid out of the subsidiary undertaking, Serfis Construction and Engineering Ltd, to minority shareholders.

9. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2023 106,374 835,807 40,365
Additions - 77,491 689
Disposals - - -
At 30 June 2024 106,374 913,298 41,054
DEPRECIATION
At 1 July 2023 104,478 623,886 40,021
Charge for year 474 84,393 185
Eliminated on disposal - - -
At 30 June 2024 104,952 708,279 40,206
NET BOOK VALUE
At 30 June 2024 1,422 205,019 848
At 30 June 2023 1,896 211,921 344

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

9. TANGIBLE FIXED ASSETS - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 716,961 54,191 1,753,698
Additions 258,873 14,533 351,586
Disposals (41,230 ) - (41,230 )
At 30 June 2024 934,604 68,724 2,064,054
DEPRECIATION
At 1 July 2023 407,172 48,837 1,224,394
Charge for year 151,417 4,045 240,514
Eliminated on disposal (41,230 ) - (41,230 )
At 30 June 2024 517,359 52,882 1,423,678
NET BOOK VALUE
At 30 June 2024 417,245 15,842 640,376
At 30 June 2023 309,789 5,354 529,304

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Plant and
machinery
£   
COST
At 1 July 2023 103,830
Transfer to ownership (103,830 )
At 30 June 2024 -
DEPRECIATION
At 1 July 2023 35,691
Transfer to ownership (35,691 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 68,139

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

9. TANGIBLE FIXED ASSETS - continued

Company
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2023 106,374 825,421 40,365
Additions - 76,400 689
Disposals - - -
At 30 June 2024 106,374 901,821 41,054
DEPRECIATION
At 1 July 2023 104,478 617,827 40,021
Charge for year 474 81,965 185
Eliminated on disposal - - -
At 30 June 2024 104,952 699,792 40,206
NET BOOK VALUE
At 30 June 2024 1,422 202,029 848
At 30 June 2023 1,896 207,594 344

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 628,443 54,191 1,654,794
Additions 252,624 14,533 344,246
Disposals (41,230 ) - (41,230 )
At 30 June 2024 839,837 68,724 1,957,810
DEPRECIATION
At 1 July 2023 365,164 48,837 1,176,327
Charge for year 126,861 4,045 213,530
Eliminated on disposal (41,230 ) - (41,230 )
At 30 June 2024 450,795 52,882 1,348,627
NET BOOK VALUE
At 30 June 2024 389,042 15,842 609,183
At 30 June 2023 263,279 5,354 478,467

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

9. TANGIBLE FIXED ASSETS - continued

Company

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Plant and
machinery
£   
COST
At 1 July 2023 103,830
Transfer to ownership (103,830 )
At 30 June 2024 -
DEPRECIATION
At 1 July 2023 35,691
Transfer to ownership (35,691 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 68,139

10. FIXED ASSET INVESTMENTS

Group
Unlisted
investments
£   
COST
At 1 July 2023
and 30 June 2024 37,825
NET BOOK VALUE
At 30 June 2024 37,825
At 30 June 2023 37,825
Company
Unlisted
investments
£   
COST
At 1 July 2023
and 30 June 2024 187,880
NET BOOK VALUE
At 30 June 2024 187,880
At 30 June 2023 187,880

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

10. 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:

Subsidiary

Serfis Construction & Engineering Limited
Registered office: Pedmore House, 102 Pedmore Road, Stourbridge, West Midlands, England, DY9 8DG
Nature of business: Civil engineering contractors
%
Class of shares: holding
Ordinary 55.00
Fixed income 100.00
2024 2023
£    £   
Aggregate capital and reserves 685,682 616,137
Profit for the year 174,183 338,077


11. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 1,000
NET BOOK VALUE
At 30 June 2024 1,000
At 30 June 2023 1,000

Company
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 1,000
NET BOOK VALUE
At 30 June 2024 1,000
At 30 June 2023 1,000

Included in fair value of investment property is freehold land of £ 1,000 (2023 - £ 1,000 ) which is not depreciated.

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2007 (21,598 )
Cost 22,598
1,000

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

11. INVESTMENT PROPERTY - continued

Company

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 22,598 22,598

Investment property was valued on an open market basis on 30 June 2016 by the directors .

12. STOCKS

Group Company
2024 2023 2024 2023
£    £    £    £   
Work-in-progress 180,012 156,192 157,895 146,289

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 3,450,208 3,249,568 3,085,333 2,913,718
Bad debt reserve (60,031 ) (120,844 ) (60,031 ) (120,844 )
Amounts owed by group undertakings 436,428 436,428 551,669 530,285
Amounts recoverable on contract - 686,792 - 605,211
Other debtors 381,850 374,150 373,215 374,150
Employee loans - - 8,635 -
Directors' current accounts 1,187,761 - 1,187,761 -
Tax 6,119 11,417 - -
Deferred tax asset - 6,060 - -
Accrued income 224,000 - - -
Prepayments 136,034 123,413 100,505 91,578
5,762,369 4,766,984 5,247,087 4,394,098

Deferred tax asset
Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax - 6,060 - -

14. CURRENT ASSET INVESTMENTS

Group Company
2024 2023 2024 2023
£    £    £    £   
Other 346,864 346,864 346,864 346,864

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Payments on account 92,912 134,927 92,912 134,927
Trade creditors 1,024,351 822,368 945,158 750,839
Tax 213,945 52,125 213,945 52,125
Social security and other taxes 121,775 114,098 88,898 88,889
VAT 371,646 125,594 359,920 37,863
Other creditors 17,581 (9,324 ) - (8,000 )
Wages control 5,451 4,787 - (350 )
Directors' current accounts - 570,147 - 570,147
Accruals and deferred income 444,601 554,309 402,252 534,544
2,292,262 2,369,031 2,103,085 2,160,984

16. SECURED DEBTS

Unlimited debenture held by Lloyds TSB in banks standard form dated 30/6/04.

Hire purchase contracts are secured against the assets to which they relate.

17. PROVISIONS FOR LIABILITIES

Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax 62,835 - 113,454 90,531

Group
Deferred
tax
£   
Balance at 1 July 2023 (6,060 )
Charge to Income Statement during year 68,895
Balance at 30 June 2024 62,835

Company
Deferred
tax
£   
Balance at 1 July 2023 90,531
Charge to Income Statement during year 22,923
Accelerated capital allowances
Rate movement
Balance at 30 June 2024 113,454

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
15,000 Ordinary £1 15,000 15,000

19. RESERVES

Group
Retained Other
earnings reserves Totals
£    £    £   

At 1 July 2023 6,565,304 15,000 6,580,304
Profit for the year 1,091,329 1,091,329
Dividends (500,000 ) (500,000 )
PY Adjustment (12,399 ) - (12,399 )
At 30 June 2024 7,144,234 15,000 7,159,234

Company
Retained Other
earnings reserves Totals
£    £    £   

At 1 July 2023 6,221,385 15,000 6,236,385
Profit for the year 1,044,994 1,044,994
Dividends (500,000 ) (500,000 )
At 30 June 2024 6,766,379 15,000 6,781,379


20. NON-CONTROLLING INTERESTS

Non-controlling interests
Brought forward 118,577
Adjustment noted below 12,435
Minority Profit for the year 31,295
162,307

A prior year adjustment has been included to reflect the sale of an additional 5% of the shares to the minority holder in both 2022 and 2023, resulting in a increase in non-controlling interest at a cost of £12,435.

21. CONTINGENT LIABILITIES

There were no known material contingent liabilities at the year end.

22. RELATED PARTY DISCLOSURES

During the year, total dividends of £500,000 were paid to the directors .

C C Contracting Limited (Registered number: 02691252)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

22. RELATED PARTY DISCLOSURES - continued

Key management personnel of the entity or its parent (in the aggregate)
2024 2023
£    £   
Amount due from related party 1,187,762 -

Amounts due from the Director at the year end were repaid in full to the company during September and November 2024.

23. POST BALANCE SHEET EVENTS

There were no post balance sheet events at the year end.