CC Interiors Nantwich Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08415470 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2019

for

CC Interiors Nantwich Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S R Higginson

A J Ward

T Huxley

SECRETARY:

REGISTERED OFFICE:

5 Pillory Street

Nantwich

Cheshire

CW5 5BZ

REGISTERED NUMBER:

08415470 (England and Wales)

ACCOUNTANTS:

Hammond McNulty LLP

Bank House

Market Square

Congleton

Cheshire

CW12 1ET

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

5,131

2,799

5,131

2,799

CURRENT ASSETS

Debtors

604,947

276,004

Cash at bank and in hand

46,902

37,072

651,849

313,076

CREDITORS

Amounts falling due within one year

525,445

225,510

NET CURRENT ASSETS

126,404

87,566

TOTAL ASSETS LESS CURRENT LIABILITIES

131,535

90,365

CREDITORS

Amounts falling due after more than one year

(24,023

)

(84,023

)

PROVISIONS FOR LIABILITIES

(976

)

(533

)

NET ASSETS

106,536

5,809

CAPITAL AND RESERVES

Called up share capital

9

9

Retained earnings

106,527

5,800

SHAREHOLDERS' FUNDS

106,536

5,809

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st December 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th September 2020 and were signed on its behalf by:

S R Higginson - Director

T Huxley - Director

1.	STATUTORY INFORMATION

CC Interiors Nantwich 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.

Going Concern

The directors have considered the potential impact of COVID-19 on the principal activities of the business and

they believe that they have sufficient resources in place to operate for the foreseeable future. Thus, they continue

to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts

receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership

have transferred to them.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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 4 (2018 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st January 2019

and 31st December 2019

10,000

AMORTISATION

At 1st January 2019

and 31st December 2019

10,000

NET BOOK VALUE

At 31st December 2019

-

At 31st December 2018

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st January 2019

146,133

Additions

5,089

At 31st December 2019

151,222

DEPRECIATION

At 1st January 2019

143,334

Charge for year

2,757

At 31st December 2019

146,091

NET BOOK VALUE

At 31st December 2019

5,131

At 31st December 2018

2,799

6.	POST BALANCE SHEET EVENTS

In March 2020, the UK was impacted by the outbreak of COVID-19. In order to manage the spread of the virus

the Government has imposed significant restrictions on the movement of people and the ability of businesses to

continue to trade. This event occurred after the company’s reporting period and so is considered to be a

non-adjusting event. Accordingly, the balance sheet and profit and loss for the year end 31.12.2019 have not

been adjusted to reflect their impact.

The Directors acknowledge the increasing risk from COVID-19 and have sought to mitigate their risk by

carrying out a thorough review of the business as discussed below:

Government assistance

The business has taken advantage of the government grants and furloughing scheme whereby the company has

furloughed 5 staff members which has resulted in the reduction of the wage cost.

Small Business Grant Fund

After the year-end the company received a grant from their local authority under the Retail, Hospitality &

Leisure Grant Funding Scheme.