Company Registration No. 06224283 (England and Wales)
C2 Business Solutions Ltd
Unaudited accounts
for the year ended 30 April 2022
C2 Business Solutions Ltd
Unaudited accounts
Contents
C2 Business Solutions Ltd
Company Information
for the year ended 30 April 2022
Director
Mr Jerome G Timbrell
Company Number
06224283 (England and Wales)
Registered Office
Forge Enterprise Centre
3 Church Road
West Huntspill
Somerset
TA9 3RN
Accountants
Poolbridge Accountancy Limited
Forge Enterprise Centre
3 Church Road, West Huntspill
Highbridge
Somerset
TA9 3RN
C2 Business Solutions Ltd
Statement of financial position
as at
30 April 2022
Intangible assets
52,410
87,623
Tangible assets
562,929
462,086
Investments
110,000
110,000
Cash at bank and in hand
104,902
299,531
Creditors: amounts falling due within one year
(74,575)
(290,424)
Net current assets
303,685
263,124
Total assets less current liabilities
1,029,024
922,833
Creditors: amounts falling due after more than one year
(373,092)
(437,031)
Provisions for liabilities
Deferred tax
(1,719)
(1,719)
Net assets
654,213
484,083
Called up share capital
1,000
1,000
Revaluation reserve
216,070
143,260
Profit and loss account
437,143
339,823
Shareholders' funds
654,213
484,083
For the year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 January 2023 and were signed on its behalf by
Mr Jerome G Timbrell
Director
Company Registration No. 06224283
C2 Business Solutions Ltd
Notes to the Accounts
for the year ended 30 April 2022
C2 Business Solutions Ltd is a private company, limited by shares, registered in England and Wales, registration number 06224283. The registered office is Forge Enterprise Centre, 3 Church Road, West Huntspill, Somerset, TA9 3RN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from he provision of goods falling within the company's ordinary activities.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance, 33% Reducing Balance
Computer equipment
33% Reducing Balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Acquired goodwill is written off in equal annual installments over its estimated useful economic life of 5 years.
Stock is valued at the lower of cost and net realisable value.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Investments in shares are included at fair value.
C2 Business Solutions Ltd
Notes to the Accounts
for the year ended 30 April 2022
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
Other
Total
At 1 May 2021
176,064
542
176,606
At 30 April 2022
176,064
542
176,606
At 1 May 2021
88,983
-
88,983
Charge for the year
35,213
-
35,213
At 30 April 2022
124,196
-
124,196
At 30 April 2022
51,868
542
52,410
At 30 April 2021
87,081
542
87,623
5
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At valuation
At cost
At cost
At cost
At 1 May 2021
377,190
146,028
36,527
36,849
596,594
Additions
-
32,923
14,527
7,291
54,741
Revaluations
72,810
-
-
-
72,810
At 30 April 2022
450,000
178,951
51,054
44,140
724,145
At 1 May 2021
-
78,227
28,651
27,630
134,508
Charge for the year
-
10,072
5,601
11,035
26,708
At 30 April 2022
-
88,299
34,252
38,665
161,216
At 30 April 2022
450,000
90,652
16,802
5,475
562,929
At 30 April 2021
377,190
67,801
7,876
9,219
462,086
C2 Business Solutions Ltd
Notes to the Accounts
for the year ended 30 April 2022
6
Investments
Subsidiary undertakings
Valuation at 1 May 2021
110,000
Valuation at 30 April 2022
110,000
Amounts falling due within one year
Trade debtors
231,142
207,367
Amounts due from group undertakings etc.
29,560
27,648
Other debtors
4,120
14,420
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Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
170
252
Trade creditors
12,274
27,852
Taxes and social security
23,226
34,704
Other creditors
3,168
94,266
Loans from directors
(28,301)
512
9
Creditors: amounts falling due after more than one year
2022
2021
Bank loans
322,576
394,550
Obligations under finance leases and hire purchase contracts
50,516
42,481
10
Share capital
2022
2021
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
The company operates a defined contribution pension scheme in respect of the employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £11,527 (2020- £8,286.55)
The controlling party is Mr J G Timbrell.
C2 Business Solutions Ltd
Notes to the Accounts
for the year ended 30 April 2022
13
Average number of employees
During the year the average number of employees was 21 (2021: 18).