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REGISTERED NUMBER: 07252989 (England and Wales)













CUTTER & CO LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023






CUTTER & CO LIMITED (REGISTERED NUMBER: 07252989)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


CUTTER & CO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: P J Cutter FCA
Miss K Jones FCA
D Hazlehurst ACA, CTA





REGISTERED OFFICE: 3 Lyttleton Court
Birmingham Street
Halesowen
West Midlands
B63 3HN





REGISTERED NUMBER: 07252989 (England and Wales)





ACCOUNTANTS: CUTTER & CO LTD
CHARTERED ACCOUNTANTS
3 Lyttleton Court
Birmingham Street
Halesowen
West Midlands
B63 3HN

CUTTER & CO LIMITED (REGISTERED NUMBER: 07252989)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 168,392 193,652
Tangible assets 5 61,505 80,851
229,897 274,503

CURRENT ASSETS
Stocks 30,200 25,200
Debtors 6 289,916 250,852
Cash at bank and in hand 155,766 167,693
475,882 443,745
CREDITORS
Amounts falling due within one year 7 242,918 230,656
NET CURRENT ASSETS 232,964 213,089
TOTAL ASSETS LESS CURRENT
LIABILITIES

462,861

487,592

CREDITORS
Amounts falling due after more than one year 8 (148,237 ) (197,135 )

PROVISIONS FOR LIABILITIES (11,475 ) (15,104 )
NET ASSETS 303,149 275,353

CAPITAL AND RESERVES
Called up share capital 380 380
Retained earnings 302,769 274,973
SHAREHOLDERS' FUNDS 303,149 275,353

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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.

CUTTER & CO LIMITED (REGISTERED NUMBER: 07252989)

BALANCE SHEET - continued
31ST MARCH 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th November 2023 and were signed on its behalf by:




P J Cutter FCA - Director Miss K Jones FCA - Director




D Hazlehurst ACA, CTA - Director


CUTTER & CO LIMITED (REGISTERED NUMBER: 07252989)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

Cutter & Co 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Turnover represents the value of professional services performed and billed during the period.

In addition to the amount billed an adjustment is made at each year end for work-in-progress which is valued by considering the stage of completion against the estimated final billable amount.

All amounts are measured excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2010 and 2020, is initially recorded at cost.

Goodwill is then amortised evenly over its estimated useful life of 10 years but at each year end the directors consider any necessary impairment.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over the period of the lease
Motor vehicles - 25% on reducing balance
Computer and office equipment - 25% on reducing balance

Stock and work in progress
Stock is valued at the lower of cost and net realisable value, after making due allowances for obsolete items.

Work in progress is valued by considering the stage of completion against the estimated final billable amount of the job.

Financial instruments
The company has opted to apply the exemption from the provisions of Section 11 'Basic Financial Instruments' of FRS 102 in respect of all of its financial instruments.


CUTTER & CO LIMITED (REGISTERED NUMBER: 07252989)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 22 (2022 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2022
and 31st March 2023 735,154
AMORTISATION
At 1st April 2022 541,502
Charge for year 25,260
At 31st March 2023 566,762
NET BOOK VALUE
At 31st March 2023 168,392
At 31st March 2022 193,652

CUTTER & CO LIMITED (REGISTERED NUMBER: 07252989)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

5. TANGIBLE FIXED ASSETS
Computer
Improvements and
to Motor office
property vehicles equipment Totals
£    £    £    £   
COST
At 1st April 2022 66,734 49,105 75,668 191,507
Additions - 2,342 3,023 5,365
At 31st March 2023 66,734 51,447 78,691 196,872
DEPRECIATION
At 1st April 2022 60,134 8,205 42,317 110,656
Charge for year 5,225 10,768 8,718 24,711
At 31st March 2023 65,359 18,973 51,035 135,367
NET BOOK VALUE
At 31st March 2023 1,375 32,474 27,656 61,505
At 31st March 2022 6,600 40,900 33,351 80,851

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 164,958 129,605
Other debtors 124,958 121,247
289,916 250,852

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 25,283 28,505
Trade creditors 31,385 28,534
Taxation and social security 138,541 131,484
Other creditors 47,709 42,133
242,918 230,656

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 90,465 109,751
Other creditors 57,772 87,384
148,237 197,135

CUTTER & CO LIMITED (REGISTERED NUMBER: 07252989)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years by installments 22,750 35,750
Other loans over 5 years by installments - 40,000
22,750 75,750

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Directors loans 57,772 87,384
Bank loans 109,751 129,037
167,523 216,421

Included in bank loans is an amount of £87,750 (2022: £100,750) secured by a floating charge over the assets of the company.

Also included within bank loans is an amount of £22,001 (2022: £28,287) which is under a Hire Purchase Agreement and is secured on the asset to which it relates.

Within other creditors in the balance sheet are loans from directors which are also secured by a floating charge over the assets of the company.

10. OTHER FINANCIAL COMMITMENTS

Total remaining obligations under non-cancellable operating leases are £64,755 (2022: £22,001).

11. RELATED PARTY DISCLOSURES

There have been no transactions during the year with related parties which have not been conducted under normal market conditions.

The company is controlled by it's directors.