C & C Offset Printing Co (UK) Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—8

1. General Information

C & C Offset Printing Co (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04087599 . The registered office is Office 015, 30 Great Guildford Street, Borough, London, SE1 0HS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting

Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary

amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the

revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the directors have a reasonable expectation that the

company has adequate resources to continue in operational existence for the foreseeable future. Thus the

directors continue to adopt the going concern basis of accounting in preparing the financial statements. Due to the ultimate parent company providing a letter of support, as mentioned above, covering 12 months from signing the financial statements, the directors consider this sufficient evidence to prepare the financial statements on the going concern basis.

2.2. Going Concern Disclosure

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3. Significant judgements and estimations

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2.4. Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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C & C Offset Printing Co (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	25% reducing balance
Computer Equipment	25% reducing balance

2.6. Leasing and Hire Purchase Contracts

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2.7. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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C & C Offset Printing Co (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.8. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.9. Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cashgenerating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which

case the reversal of the impairment loss s treated as a revaluation increase.

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C & C Offset Printing Co (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.10. Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.11. Employee and retirement benefits

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costsare required to be recognised as part of the cost of stock or fixed assets.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2023: 3)

4. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2024	3,241	4,021	7,262

As at 31 December 2024	3,241	4,021	7,262

Depreciation
As at 1 January 2024	1,741	3,818	5,559
Provided during the period	571	51	622

As at 31 December 2024	2,312	3,869	6,181

Net Book Value
As at 31 December 2024	929	152	1,081

As at 1 January 2024	1,500	203	1,703

5. Debtors

	2024	2023
	£	£
Due within one year
Amounts due from fellow group undertakings	684,663	627,761
Prepayments and accrued income	16,174	15,639
VAT	6,325	3,049

	707,162	646,449

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C & C Offset Printing Co (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	(3 )	-
Corporation tax	2,918	6,587
Other taxes and social security	8,468	8,243
Accruals and deferred income	36,240	16,000
Amounts due to parent undertaking	9,500	9,500

	57,123	40,330

7. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1,000	1,000

The issued share capital of the company is 1,000 (2023: 1,000) Ordinary shares of £1 each.

8. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	42,047	56,063
Later than one year and not later than five years	-	42,046

	42,047	98,109

Operating lease payments represent rentals payable by the company for property at Third Floor, 75 Newman Street.

9. Related Party Transactions

The company has taken advantage of the exemption available in accordance with Section33 of FRS 102 'Related Party Disclosures' not to disclose transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.

10. Ultimate Controlling Party

The immediate parent company is C & C Joint Printing Company (H.K.) Limited, a company registered in Hong Kong, and the ultimate parent company is Bauhinia Culture Holdings Limited, a company registered in China.

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C & C Offset Printing Co (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

11. Audit Information

The auditor's report on the accounts of C & C Offset Printing Co (UK) Limited for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by William Tang (Senior Statutory Auditor) for and on behalf of Accounting Tang Limited , Statutory Auditor.

Accounting Tang Limited

8 Farm Avenue

London

SW16 2TU

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,081		1,703

			1,081		1,703
CURRENT ASSETS
Debtors	5	707,162		646,449
Cash at bank and in hand		9,240		49,708

		716,402		696,157
Creditors: Amounts Falling Due Within One Year	6	(57,123 )		(40,330 )

NET CURRENT ASSETS (LIABILITIES)			659,279		655,827

TOTAL ASSETS LESS CURRENT LIABILITIES			660,360		657,530

NET ASSETS			660,360		657,530

CAPITAL AND RESERVES
Called up share capital	7		1,000		1,000
Profit and Loss Account			659,360		656,530

SHAREHOLDERS' FUNDS			660,360		657,530