REGISTERED NUMBER: 09923052 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

CFC Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J R Popham

Mrs K M S Popham

SECRETARY:

J R Popham

REGISTERED OFFICE:

Sevenoaks

Bathealton

Taunton

Somerset

TA4 2BJ

REGISTERED NUMBER:

09923052 (England and Wales)

ACCOUNTANTS:

A C Mole LLP

Stafford House

Blackbrook Park Avenue

Taunton

Somerset

TA1 2PX

FIXED ASSETS

Tangible assets

4

448,449

427,650

CURRENT ASSETS

Debtors

5

59,723

61,992

Cash at bank

65,501

202,159

125,224

264,151

CREDITORS

Amounts falling due within one year

6

163,911

326,281

NET CURRENT LIABILITIES

(38,687

)

(62,130

)

TOTAL ASSETS LESS CURRENT LIABILITIES

409,762

365,520

CREDITORS

Amounts falling due after more than one year

7

(65,414

)

(74,337

)

PROVISIONS FOR LIABILITIES

8

(99,186

)

(93,941

)

NET ASSETS

245,162

197,242

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

245,062

197,142

SHAREHOLDERS' FUNDS

245,162

197,242

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 April 2025 and were signed on its behalf by:

J R Popham - Director

1.	STATUTORY INFORMATION

CFC Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

This is the first set of financial statements prepared by CFC Services Limited in compliance with Financial Reporting Standard 102 Section 1A.

The company transitioned from Financial Reporting Standard 105 as at 1 January 2023. An explanation of how the transition to Financial Reporting Standard 102 Section 1A has affected the reported financial position and financial performance is given in the notes.

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.

Tractors

-

15% on reducing balance

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

Tractors

machinery

£

£

£

COST

At 1 January 2024

48,912

84,580

286,146

Additions

-

86,500

60,088

Disposals

-

(47,500

)

-

At 31 December 2024

48,912

123,580

346,234

DEPRECIATION

At 1 January 2024

-

21,247

117,136

Charge for year

-

16,646

34,363

Eliminated on disposal

-

(594

)

-

At 31 December 2024

-

37,299

151,499

NET BOOK VALUE

At 31 December 2024

48,912

86,281

194,735

At 31 December 2023

48,912

63,333

169,010

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

160,051

300

579,989

Additions

19,579

-

166,167

Disposals

(26,800

)

-

(74,300

)

At 31 December 2024

152,830

300

671,856

DEPRECIATION

At 1 January 2024

13,731

225

152,339

Charge for year

20,913

75

71,997

Eliminated on disposal

(335

)

-

(929

)

At 31 December 2024

34,309

300

223,407

NET BOOK VALUE

At 31 December 2024

118,521

-

448,449

At 31 December 2023

146,320

75

427,650

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

Tractors

machinery

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

47,500

136,856

45,600

229,956

Additions

71,000

-

-

71,000

Disposals

(47,500

)

-

(22,300

)

(69,800

)

Transfer to ownership

-

(23,000

)

-

(23,000

)

At 31 December 2024

71,000

113,856

23,300

208,156

DEPRECIATION

At 1 January 2024

594

47,574

570

48,738

Charge for year

10,650

11,862

3,451

25,963

Eliminated on disposal

(594

)

-

(279

)

(873

)

Transfer to ownership

-

(12,796

)

-

(12,796

)

At 31 December 2024

10,650

46,640

3,742

61,032

NET BOOK VALUE

At 31 December 2024

60,350

67,216

19,558

147,124

At 31 December 2023

46,906

89,282

45,030

181,218

Fixed assets held under hire purchase agreements amounts to £147,124 (2023 - £181,218)

Security is held on the fixed assets acquired with the hire purchase agreements.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

55,679

61,992

Prepayments

4,044

-

59,723

61,992

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

37,031

54,229

Trade creditors

38,901

109,216

Tax

32,075

42,155

Social security and other taxes

3,758

6,560

VAT

17,738

39,398

Other creditors

-

3,500

Directors' current accounts

32,458

69,048

Accrued expenses

1,950

2,175

163,911

326,281

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

65,414

74,337

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

99,186

93,941

Deferred

tax

£

Balance at 1 January 2024

93,941

Provided during year

5,245

Balance at 31 December 2024

99,186

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

60

A Ordinary

60

60

60

40

B Ordinary

40

40

40

100

100

10.	TRANSITION TO FRS 105 SECTION 1A

Prior to 1 January 2023 the company prepared it's financial statements under FRS 105. From 1 January 2023, the company presents it's annual financial statements in accordance with FRS 102 Section 1A and the Companies Act 2006.

In preparing the financial statements, the directors have considered whether in applying the accounting policies required by FRS 102 Section 1A a restatement of comparative items was needed.

FRS 102 Section 1A also requires provision for deferred tax on all timing differences including the revaluation of investment properties. It was necessary to make a deferred tax provision of £33,837 at 1 January 2023 (the date of transition to FRS 102 Section 1A). This provision was increased in the year ended 31 December 2023, giving a tax provision of £93,941 at 31 December 2023 which has been adjusted against the reserves.

The effect of the transitional restatements on the reserves at 1 January 2023 is a follows:

£

Capital and reserves (as previously stated)

8,723

Recognition of deferred tax provision

(33,837

)

(25,114

)