C-Ways Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03462150 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

C-WAYS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N S Jackson

A M Jackson

SECRETARY:

A M Jackson

REGISTERED OFFICE:

Unit 2, Lora Court Yard

Wykeham Business Centre

Wykeham

Scarborough

North Yorkshire

YO13 9QP

REGISTERED NUMBER:

03462150 (England and Wales)

ACCOUNTANTS:

Lloyd Dowson Limited

Medina House

2 Station Avenue

Bridlington

East Yorkshire

YO16 4LZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

62,577

31,245

62,577

31,245

CURRENT ASSETS

Stocks

20,233

14,085

Debtors

6

1,760,185

1,080,905

Investments

7

30,850

29,050

Cash at bank and in hand

373,482

523,967

2,184,750

1,648,007

CREDITORS

Amounts falling due within one year

8

1,890,631

1,304,914

NET CURRENT ASSETS

294,119

343,093

TOTAL ASSETS LESS CURRENT LIABILITIES

356,696

374,338

PROVISIONS FOR LIABILITIES

10,638

5,594

NET ASSETS

346,058

368,744

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Retained earnings

345,058

367,744

SHAREHOLDERS' FUNDS

346,058

368,744

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 May 2020 and were signed on its behalf by:

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

A M Jackson - Director

1.	STATUTORY INFORMATION

C-Ways 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.

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.

Turnover

The turnover shown in the profit and loss account represents the total invoice value, excluding value added tax,

of sales made during the year. Sales are recognised in the profit and loss account in the period in which the

related work is carried out and is derived from IT services.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

over the lease term

Fixtures and fittings

-

20% on cost and 10% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2018 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2019

and 31 December 2019

13,000

AMORTISATION

At 1 January 2019

and 31 December 2019

13,000

NET BOOK VALUE

At 31 December 2019

-

At 31 December 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2019

5,405

139,095

144,500

Additions

-

40,609

40,609

At 31 December 2019

5,405

179,704

185,109

DEPRECIATION

At 1 January 2019

4,093

109,162

113,255

Charge for year

-

9,277

9,277

At 31 December 2019

4,093

118,439

122,532

NET BOOK VALUE

At 31 December 2019

1,312

61,265

62,577

At 31 December 2018

1,312

29,933

31,245

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

1,537,939

561,660

Other debtors

222,246

519,245

1,760,185

1,080,905

7.	CURRENT ASSET INVESTMENTS

31.12.19

31.12.18

£

£

Listed investments

30,850

29,050

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade creditors

1,094,174

480,652

Social security and other taxes

30,048

34,411

VAT

126,435

16,140

Directors' current accounts

2,942

23,158

Accrued expenses

11,844

52,100

Deferred income

625,188

698,453

1,890,631

1,304,914

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.19

31.12.18

value:

£

£

1,000

Ordinary

£1

1,000

1,000