ACCOUNTS - Final Accounts

Company registration number: 03019130

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	C & C RESERVOIRS LIMITED


C & C RESERVOIRS LIMITED

COMPANY INFORMATION

Directors	R J Sloan
	A R Barnes


Company secretary	C Yan


Registered number	03019130


Registered office	2nd Floor Midas House
	62 Goldsworth Road
	Woking
	Surrey
	GU21 6LQ


Trading Address	Spaces
	9 Greyfriars Road
	Reading
	Berkshire
	RG1 1NU



Accountants	Menzies LLP
	Chartered Accountants
	2nd Floor, Midas House
	62 Goldsworth Road
	Woking
	Surrey
	GU21 6LQ


C & C RESERVOIRS LIMITED

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 7


C & C RESERVOIRS LIMITED REGISTERED NUMBER:03019130

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Intangible assets	4		1,075,340		1,150,378
			1,075,340		1,150,378
Current assets
Debtors: amounts falling due within one year	6	2,533,282		1,128,039
Cash at bank and in hand		1,989,992		3,033,608
		4,523,274		4,161,647
Creditors: amounts falling due within one year	7	(1,755,388)		(1,941,800)
Net current assets			2,767,886		2,219,847
Total assets less current liabilities			3,843,226		3,370,225
Provisions for liabilities
Deferred tax		(130,160)		(187,328)
			(130,160)		(187,328)
Net assets			3,713,066		3,182,897

Capital and reserves
Called up share capital	100	100
Profit and loss account	3,712,966	3,182,797
	3,713,066	3,182,897

Page 1


C & C RESERVOIRS LIMITED REGISTERED NUMBER:03019130

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

A R Barnes

Director

Date: 26 September 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2


C & C RESERVOIRS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

C & C Reservoirs Limited is a private company limited by shares incorporated and domiciled in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's principal place of business is given on the company information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.3

Going concern

The Company is dependent on continuing trade and funding from other group members, particularly C&C Reservoirs Inc. Both companies are owned by C&C Reservoirs Holdings Limited.
As a result of the support enjoyed from the wider group, the directors have a reasonable expectation that the Company 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 financial statements with no material uncertainty.

2.4

Turnover

Turnover comprises of subscriptions receivables from customers during the period exclusive of value added tax. Turnover from subscription is recognised on an accruals basis, with the subscription being spread over the term of the contract.

2.5

Operating leases: the Company as lessee

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

Page 3


C & C RESERVOIRS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Amortisation is provided on the following bases:

				Content development	-	20%	Straight line
				Software development	-	20%	Straight line

Page 4


C & C RESERVOIRS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Fixtures and fittings	-	20%	Straight line
				Computer equipment	-	25%	Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 16 (2023 - 19).

Page 5


C & C RESERVOIRS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Intangible assets

	Content Development	Software development	Total
	£	£	£
Cost
At 1 January 2024	2,859,024	749,539	3,608,563
Additions	312,598	67,420	380,018
At 31 December 2024	3,171,622	816,959	3,988,581
Amortisation
At 1 January 2024	1,768,711	689,474	2,458,185
Charge for the year on owned assets	370,876	84,180	455,056
At 31 December 2024	2,139,587	773,654	2,913,241
Net book value
At 31 December 2024	1,032,035	43,305	1,075,340
At 31 December 2023	1,090,313	60,065	1,150,378

5.	Tangible fixed assets

	Fixtures and fittings	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 January 2024	7,188	26,473	33,661
At 31 December 2024	7,188	26,473	33,661
Depreciation
At 1 January 2024	7,188	26,473	33,661
At 31 December 2024	7,188	26,473	33,661
Net book value
At 31 December 2024	-	-	-
At 31 December 2023	-	-	-

Page 6


C & C RESERVOIRS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Trade debtors	551,608	164,207
Amounts owed by group undertakings	1,979,046	946,619
Other debtors	-	7,238
Prepayments and accrued income	2,628	9,975
	2,533,282	1,128,039

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	3,381	7,001
Amounts owed to group undertakings	589,080	1,173,304
Corporation tax	45,595	-
Other taxation and social security	129,564	-
Other creditors	6,982	51,239
Accruals and deferred income	980,786	710,256
	1,755,388	1,941,800

There is a legal charge over cash deposits in favour of HSBC UK Bank plc up to maximum of £150,000 (2023: £150,000).

8.	Parent company

The parent company of the group for which consolidated financial statements are drawn up is C&C Reservoirs Holdings Limited, registered in the British Virgin Islands.

Page 7