Registered number
08063826
We Cut Any Size Limited
Report and Accounts
31 December 2017
We Cut Any Size Limited
Registered number: 08063826
Balance Sheet
as at 31 December 2017
Notes 31/12/17 30/6/17
£ £
Current assets
Cash at bank and in hand 61 143
Creditors: amounts falling due within one year 2 (3,125) (3,025)
Net current liabilities (3,064) (2,882)
Net liabilities (3,064) (2,882)
Capital and reserves
Called up share capital 2 2
Profit and loss account (3,066) (2,884)
Shareholder's funds (3,064) (2,882)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr N Horseman
Director
Approved by the board on 30 April 2018
We Cut Any Size Limited
Notes to the Accounts
for the period from 1 July 2017 to 31 December 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A small entities, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Creditors: amounts falling due within one year 31/12/17 30/6/17
£ £
Directors loan account 2,312 2,312
Other creditors 813 713
3,125 3,025
3 Related party transactions
Apart from the out of pocket expenses paid to the director and shareholder there are no other related party transactions as are required to be disclosed under the financial reporting standards for smaller entities.
The amount owed to the director and shareholder at the year end is £2,312
During the year costs were paid for on behalf of the company by Ashby Signs Limited totalling £100. At 31 December 2017 the amount owed to Ashby Signs Limited was £813 (30 June 2017 : £713).
4 Controlling party
The ultimate controlling party is Mr N Horseman, director and shareholder of the company.
5 Other information
We Cut Any Size Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 1 Hatch Industrial Park, Greywell Road, Basingstoke, Hampshire, RG24 7NG
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out above. These policies have been consistently applied to all years presented unless otherwise stated and the transition to FRS 102 was from 1 July 2015.
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