C & C Tours 10-K 30 Mar 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2017	Mar. 16, 2018	Jun. 30, 2017
Document And Entity Information
Entity Registrant Name	C & C TOURS INC
Entity Central Index Key	1,430,319
Document Type	10-K
Document Period End Date	Dec. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		2,937,000
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,017

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2017	Dec. 31, 2016
CURRENT ASSETS
Cash	$ 675	$ 1,864
Total current assets	675	1,864
TOTAL ASSETS	675	1,864
CURRENT LIABILITIES
Accounts payable	6,600	44,900
Loans payable - current	140,640	89,240
Accrued interest	33,590	26,187
Total current liabilities	180,830	160,327
TOTAL LIABILITIES	180,830	160,327
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock, 20,000,000 shares authorized at $.001 par value, 2,937,000 shares issued and outstanding at December 31, 2017 and December 31, 2016	2,937	2,937
Additional paid-in capital	34,970	34,970
Accumulated deficit	(218,062)	(196,370)
Total stockholders' equity (deficit)	(180,155)	(158,463)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 675	$ 1,864

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock, par value	$ .001	$ 0.001
Common stock, authorized shares	20,000,000	20,000,000
Common stock, issued shares	2,937,000	2,937,000
Common stock, outstanding shares	2,937,000	2,937,000

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Statements Of Operations
Revenues
Expenses
General and administrative	14,289	14,900
Total expenses	14,289	14,900
Net operating loss before other expense	(14,289)	(14,900)
Other income (expense), non-operating
Interest expense	(7,403)	(6,821)
Total other income (expense)	(7,403)	(6,821)
Loss from operations before income taxes	(21,692)	(21,721)
Income taxes
Net loss	$ (21,692)	$ (21,721)
Basic and diluted net loss per share	$ (0.01)	$ (0.01)
Weighted average shares outstanding	2,937,000	2,937,000

Statements of Shareholders Equi

Statements of Shareholders Equity (Deficit) - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning balance, shares at Dec. 31, 2015	2,937,000
Beginning balance, amount at Dec. 31, 2015	$ 2,937	$ 34,970	$ (174,649)	$ (136,742)
Net loss			(21,721)	(21,721)
Ending balance, shares at Dec. 31, 2016	2,937,000
Ending balance, amount at Dec. 31, 2016	$ 2,937	34,970	(196,370)	(158,463)
Net loss			(21,692)	(21,692)
Ending balance, shares at Dec. 31, 2017	2,937,000
Ending balance, amount at Dec. 31, 2017	$ 2,937	$ 34,970	$ (218,062)	$ (180,155)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Cash Flows from Operating Activities
Net loss	$ (21,692)	$ (21,721)
Adjustments to reconcile net loss to net cash provided (used) by operating activities:
Accounts payable	6,600	6,900
Accrued interest	7,403	6,821
Net cash used by operating activities	(7,689)	(8,000)
Cash Flows from Investing Activities
Net cash provided (used) by investing activities
Cash Flows from Financing Activities
Proceeds from loans payable	6,500	9,000
Net cash provided (used) by financing activities	6,500	9,000
Net Increase (Decrease) in Cash	(1,189)	1,000
Cash at Beginning of Period	1,864	864
Cash at End of Period	675	1,864
Supplemental Cash Flow Information:
Cash paid for interest
Cash paid for income taxes
Conversion of Accounts Payable to Notes Payable	$ 44,900

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Note 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Organization and Description of Business The Company was organized under the laws of the State of Nevada on February 22, 1989. The Company was organized as a charter bus business specializing in Nevada tours. In 1991, after about 28 months of unsuccessful charter bus business, the operations were discontinued. On June 12, 2012 the Company filed Articles of Continuance in the State of Wyoming effecting a change in domicile from Nevada to Wyoming. The Company is actively seeking potential business opportunities or potential mergers with existing operating companies. Significant Accounting Policies A summary of the significant accounting policies consistently applied in the preparation of the accompanying financial statements are as follows: a. Accounting Method The Company’s financial statements are prepared using the accrual method of accounting. The Company has elected a December 31 year-end. b. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reporting period. Actual results could differ from those estimates. c. Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less to be cash equivalents. d. Basic and Fully Diluted Income (Loss) Per Share In accordance with ASC 260, Earnings Per Share , The computations of basic and fully diluted loss per share of common stock are based on the weighted average number of common shares outstanding during the period of the consolidated financial statements, plus the common stock equivalents, which would arise from the exercise of stock options and warrants outstanding during the period, or the exercise of convertible debentures. As of December 31, 2017 and 2016, all common stock activity has been included and there were no items considered to be anti-dilutive. Following is a reconciliation of the loss per share for the years ended December 31, 2017 and 2016, respectively: For the Years Ended December 31, 2017 2016 Net (loss) available to common shareholders $ (21,692 ) $ (21,721 ) Weighted average shares 2,937,000 2,937,000 Basic and fully diluted loss per share (based on weighted average shares) $ (0.01 ) $ (0.01 ) e. Concentration of Credit Risk Financial instruments, which potentially subject us to concentrations of credit risk, consist principally of cash. Our cash balances are maintained in accounts held by major banks and financial institutions located in the United States. The Company does not maintain amounts on deposit with a financial institution that are in excess of the federally insured limit of $250,000. The Company had $0 of cash balances in excess of federally insured limits at December 31, 2017 and 2016.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Note 2. GOING CONCERN	As shown in the accompanying financial statements, the Company incurred a net loss of $21,692 and $21,721 during the years ended December 31, 2017 and 2016 respectively. This factor, as well as the uncertain conditions that the Company faces relative to capital raising activities, create substantial doubt as to the Company’s ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
NOTE 3 - INCOME TAXES	Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry-forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The Company currently has no issues creating timing differences that would mandate deferred tax expense. Net operating losses would create possible tax assets in future years. Due to the uncertainty of the utilization of net operating loss carry forwards. A valuation allowance has been made to the extent of any tax benefit that net operating losses may generate. A provision for income taxes has not been made due to net operating loss carry forwards of $213,923 and $192,231 as of December 31, 2017 and 2016 respectively, which may be offset against future taxable income through 2037. No tax benefit has been reported in the financial statements The Company has evaluated Staff Accounting Bulletin No. 118 regarding the impact of the decreased tax rates of the Tax Cuts & Jobs Act. The schedules below reflect the Federal tax provision, deferred tax asset and valuation allowance using the new rates adjusted in the period of enactment. Deferred tax assets and the valuation account are as follows: For the Years Ended December 31, 2017 2016 Net operating loss carryforward (at 21% and 15%) $ 44,924 $ 28,800 Valuation allowance (44,924 ) (28,800 ) Deferred tax asset $ -- $ -- A reconciliation of amount obtained by applying the Federal tax rate to pre-tax income to income tax benefit is as follows: For the Years Ended December 31, 2017 2016 Federal tax benefit (at 21% and 15%) $ 4,555 $ 2,800 Change in valuation allowance (16,124 ) (2,800 ) Effect of rate change on Deferred Tax Asset 11,569 -- $ -- $ -- Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carryforwards for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carryforwards may be limited as to use in future years. The Company did not have any tax positions for which it is reasonably possible that the total amount of unrecognized tax benefits will significantly increase or decrease within the next 12 months. The Company includes interest and penalties arising from the underpayment of income taxes in the statements of operations in the provision for income taxes. As of December 31, 2017 and 2016, the Company had no accrued interest or penalties related to uncertain tax positions. The tax years that remain subject to examination by major taxing jurisdictions are those for the years ended December 31, 2016, 2015 and 2014.

COMMON STOCK TRANSACTIONS

COMMON STOCK TRANSACTIONS	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
NOTE 4 – COMMON STOCK TRANSACTIONS	There were no stock issuances in 2017.

LOANS PAYABLE

LOANS PAYABLE	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Note 5. LOANS PAYABLE	Loans payable consists of legal and accounting fees and out-of-pocket costs incurred through third parties. These payables are non-collateralized, bear interest at 8%, and are due on demand. As such, these loans are classified as current on the Company’s Balance Sheet. Interest expense for the years ended December 31, 2017 and 2016 totaled $7,403 and $6,821, respectively. No payments on principal or interest have been made to date.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
NOTE 6 – FAIR VALUE OF FINANCIAL INSTRUMENTS	If required by authoritative literature, the Company would account for certain assets and liabilities at fair value. The cash, accounts payable, notes payable and accrued interest have fair values that approximate their carrying values due to the short term nature of these instruments.

RECENT PRONOUNCEMENT

RECENT PRONOUNCEMENT	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
NOTE 7 - RECENT PRONOUNCEMENT	The Company has evaluated Recent Accounting Pronouncements and has determined that all such pronouncements either do not apply or their impact is insignificant to the financial statements.

COMMITMENTS AND CONTINGINCIES

COMMITMENTS AND CONTINGINCIES	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
NOTE 8 - COMMITMENTS AND CONTINGINCIES	The Company has not entered into or been engaged in any commitments or contingencies for the fiscal years ended December 31, 2017 and 2016. As such, no liability has been recorded on the financial statements for any contingent liability or commitment. The Company has read and addressed SAB Topic 5T and believes all contributed services provided have been accounted for.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
NOTE 9 - SUBSEQUENT EVENTS	The Company has evaluated subsequent events pursuant to ASC No. 855 and determined there are not any material subsequent events occurring after the date of the balance sheet through the date these financial statements were issued requiring disclosure in the accompanying financial statements.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Accounting Method	The Company’s financial statements are prepared using the accrual method of accounting. The Company has elected a December 31 year-end.
Use of Estimates	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	The Company considers all highly liquid investments with maturities of three months or less to be cash equivalents.
Basic and Fully Diluted Income (Loss) Per Share	In accordance with ASC 260, Earnings Per Share , The computations of basic and fully diluted loss per share of common stock are based on the weighted average number of common shares outstanding during the period of the consolidated financial statements, plus the common stock equivalents, which would arise from the exercise of stock options and warrants outstanding during the period, or the exercise of convertible debentures. As of December 31, 2017 and 2016, all common stock activity has been included and there were no items considered to be anti-dilutive. Following is a reconciliation of the loss per share for the years ended December 31, 2017 and 2016, respectively: For the Years Ended December 31, 2017 2016 Net (loss) available to common shareholders $ (21,692 ) $ (21,721 ) Weighted average shares 2,937,000 2,937,000 Basic and fully diluted loss per share (based on weighted average shares) $ (0.01 ) $ (0.01 )
Concentration of Credit Risk	Financial instruments, which potentially subject us to concentrations of credit risk, consist principally of cash. Our cash balances are maintained in accounts held by major banks and financial institutions located in the United States. The Company does not maintain amounts on deposit with a financial institution that are in excess of the federally insured limit of $250,000. The Company had $0 of cash balances in excess of federally insured limits at December 31, 2017 and 2016.

ORGANIZATION AND SUMMARY OF S17

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2017
Organization And Summary Of Significant Accounting Policies Tables
Reconciliation of loss per share	For the Years Ended December 31, 2017 2016 Net (loss) available to common shareholders $ (21,692 ) $ (21,721 ) Weighted average shares 2,937,000 2,937,000 Basic and fully diluted loss per share (based on weighted average shares) $ (0.01 ) $ (0.01 )

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2017
Income Taxes Tables
Schedule of deferred tax assets	For the Years Ended December 31, 2017 2016 Net operating loss carryforward (at 21% and 15%) $ 44,924 $ 28,800 Valuation allowance (44,924 ) (28,800 ) Deferred tax asset $ -- $ --
Schedule of Income tax provision	For the Years Ended December 31, 2017 2016 Federal tax benefit (at 21% and 15%) $ 4,555 $ 2,800 Change in valuation allowance (16,124 ) (2,800 ) Effect of rate change on Deferred Tax Asset 11,569 -- $ -- $ --

ORGANIZATION AND SUMMARY OF S19

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Organization And Summary Of Significant Accounting Policies Details
Net (loss) available to Common shareholders	$ (21,692)	$ (21,721)
Weighted average shares	2,937,000	2,937,000
Basic and fully diluted loss per share (based on weighted average shares)	$ (0.01)	$ (0.01)

ORGANIZATION AND SUMMARY OF S20

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narratives) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Organization And Summary Of Significant Accounting Policies Details Narratives
State Country Name	Nevada
Date of Incorporation	Feb. 22, 1989
Cash balance in excess of federally insured limits	$ 0	$ 0
Cash limit	$ 250,000

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Going Concern Details Narrative
Net (loss)	$ (21,692)	$ (21,721)

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Income Taxes Details
Net operating loss carryforward (at 21% and 15%)	$ 44,924	$ 28,800
Valuation allowance	(44,924)	(28,800)
Deferred tax asset

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Income Taxes Details 1
Federal tax benefit (at 21% and 15%)	$ 4,555	$ 2,800
Change in valuation allowance	(16,124)	(2,800)
Effect of rate change on Deferred Tax Asset	11,569
Income tax benefit

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Income Taxes Details Narrative
Net operating loss carryforwards	$ 213,923	$ 192,231
Expiry year	through 2,037

LOANS PAYABLE (Details Narrativ

LOANS PAYABLE (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Notes to Financial Statements
Interest expense	$ 7,403	$ 6,821
Interest rate	8.00%