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

REGISTERED NUMBER: 03462150 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

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

69,649

62,577

69,649

62,577

CURRENT ASSETS

Stocks

20,233

20,233

Debtors

6

398,043

1,760,185

Investments

7

32,650

30,850

Cash at bank and in hand

515,685

373,482

966,611

2,184,750

CREDITORS

Amounts falling due within one year

8

773,307

1,890,631

NET CURRENT ASSETS

193,304

294,119

TOTAL ASSETS LESS CURRENT LIABILITIES

262,953

356,696

PROVISIONS FOR LIABILITIES

-

10,638

NET ASSETS

262,953

346,058

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Retained earnings

261,953

345,058

SHAREHOLDERS' FUNDS

262,953

346,058

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 9 April 2021 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 29 (2019 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2020

and 31 December 2020

13,000

AMORTISATION

At 1 January 2020

and 31 December 2020

13,000

NET BOOK VALUE

At 31 December 2020

-

At 31 December 2019

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2020

5,405

179,704

185,109

Additions

-

20,475

20,475

At 31 December 2020

5,405

200,179

205,584

DEPRECIATION

At 1 January 2020

4,093

118,439

122,532

Charge for year

-

13,403

13,403

At 31 December 2020

4,093

131,842

135,935

NET BOOK VALUE

At 31 December 2020

1,312

68,337

69,649

At 31 December 2019

1,312

61,265

62,577

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

122,249

1,537,939

Other debtors

275,794

222,246

398,043

1,760,185

7.	CURRENT ASSET INVESTMENTS

31.12.20

31.12.19

£

£

Listed investments

32,650

30,850

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

103,814

1,094,174

Social security and other taxes

40,598

30,048

VAT

40,317

126,435

Other creditors

3,868

-

Directors' current accounts

171

2,942

Accrued expenses

6,066

11,844

Deferred income

578,473

625,188

773,307

1,890,631

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.20

31.12.19

value:

£

£

1,000

Ordinary

£1

1,000

1,000