Company Registration No. 08241370 (England and Wales)
C&C INITIATIVES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
PAGES FOR FILING WITH REGISTRAR
C&C INITIATIVES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
C&C INITIATIVES LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2019
31 October 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,203
2,693
Current assets
Stocks
200
500
Debtors
4
3,109
1,961
Cash at bank and in hand
30,918
23,526
34,227
25,987
Creditors: amounts falling due within one year
5
(13,887)
(7,280)
Net current assets
20,340
18,707
Total assets less current liabilities
22,543
21,400
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
22,443
21,300
Total equity
22,543
21,400
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 October 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 30 July 2020
Ms C Reed
Director
Company Registration No. 08241370
C&C INITIATIVES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019
- 2 -
1
Accounting policies
Company information
C&C Initiatives Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
180 Great Portland Street, London, W1W 5QZ.
1.1
Accounting convention
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 a
mounts
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.
1.2
Turnover
Turnover
represents amounts
receivable
for good and
services
net of VAT.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
Financial instruments
The company
only
has
basic
financial instruments.
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
.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction
.
C&C INITIATIVES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2019
1
Accounting policies
(Continued)
- 3 -
1.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2019
2018
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2018
7,917
Additions
244
At 31 October 2019
8,161
Depreciation and impairment
At 1 November 2018
5,224
Depreciation charged in the year
734
At 31 October 2019
5,958
Carrying amount
At 31 October 2019
2,203
At 31 October 2018
2,693
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Corporation tax recoverable
-
7
Other debtors
3,109
1,954
3,109
1,961
C&C INITIATIVES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2019
4
Debtors
(Continued)
- 4 -
5
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
3,830
-
Corporation tax
3,151
1,427
Other taxation and social security
634
1,404
Other creditors
6,272
4,449
13,887
7,280