IRIS Accounts Production v23.3.1.45 12562923 director 1.5.22 30.4.23 30.4.23 false true false false true false Ordinary A 1.00000 Ordinary B 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure125629232022-04-30125629232023-04-30125629232022-05-012023-04-30125629232021-04-30125629232021-05-012022-04-30125629232022-04-3012562923ns16:EnglandWales2022-05-012023-04-3012562923ns15:PoundSterling2022-05-012023-04-3012562923ns11:Director12022-05-012023-04-3012562923ns11:PrivateLimitedCompanyLtd2022-05-012023-04-3012562923ns11:SmallEntities2022-05-012023-04-3012562923ns11:AuditExempt-NoAccountantsReport2022-05-012023-04-3012562923ns11:SmallCompaniesRegimeForDirectorsReport2022-05-012023-04-3012562923ns11:SmallCompaniesRegimeForAccounts2022-05-012023-04-3012562923ns11:FullAccounts2022-05-012023-04-3012562923ns11:OrdinaryShareClass12022-05-012023-04-3012562923ns11:OrdinaryShareClass22022-05-012023-04-3012562923ns6:CurrentFinancialInstruments2023-04-3012562923ns6:CurrentFinancialInstruments2022-04-3012562923ns6:Non-currentFinancialInstruments2023-04-3012562923ns6:Non-currentFinancialInstruments2022-04-3012562923ns6:ShareCapital2023-04-3012562923ns6:ShareCapital2022-04-3012562923ns6:RetainedEarningsAccumulatedLosses2023-04-3012562923ns6:RetainedEarningsAccumulatedLosses2022-04-3012562923ns6:PlantMachinery2022-05-012023-04-3012562923ns6:FurnitureFittings2022-05-012023-04-3012562923ns6:MotorVehicles2022-05-012023-04-3012562923ns6:ComputerEquipment2022-05-012023-04-3012562923ns6:PlantMachinery2022-04-3012562923ns6:FurnitureFittings2022-04-3012562923ns6:MotorVehicles2022-04-3012562923ns6:ComputerEquipment2022-04-3012562923ns6:PlantMachinery2023-04-3012562923ns6:FurnitureFittings2023-04-3012562923ns6:MotorVehicles2023-04-3012562923ns6:ComputerEquipment2023-04-3012562923ns6:PlantMachinery2022-04-3012562923ns6:FurnitureFittings2022-04-3012562923ns6:MotorVehicles2022-04-3012562923ns6:ComputerEquipment2022-04-3012562923ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2022-04-3012562923ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2022-05-012023-04-3012562923ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2023-04-3012562923ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2022-04-3012562923ns6:WithinOneYearns6:CurrentFinancialInstruments2023-04-3012562923ns6:WithinOneYearns6:CurrentFinancialInstruments2022-04-3012562923ns6:DeferredTaxation2022-04-3012562923ns6:DeferredTaxation2022-05-012023-04-3012562923ns6:DeferredTaxation2023-04-3012562923ns11:OrdinaryShareClass12023-04-3012562923ns11:OrdinaryShareClass22023-04-30
REGISTERED NUMBER: 12562923 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

XCUT CONSTRUCTION LTD

XCUT CONSTRUCTION LTD (REGISTERED NUMBER: 12562923)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Balance sheet 1

Notes to the financial statements 2


XCUT CONSTRUCTION LTD (REGISTERED NUMBER: 12562923)

BALANCE SHEET
30 APRIL 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 15,739 20,983

Current assets
Debtors 5 9,826 15,035
Cash at bank 1,358 276
11,184 15,311
Creditors
Amounts falling due within one year 6 18,273 30,565
Net current liabilities (7,089 ) (15,254 )
Total assets less current liabilities 8,650 5,729

Creditors
Amounts falling due after more than one year 7 (4,179 ) -

Provisions for liabilities 8 (109 ) (906 )
Net assets 4,362 4,823

Capital and reserves
Called up share capital 9 100 100
Retained earnings 4,262 4,723
Shareholders' funds 4,362 4,823

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 November 2023 and were signed by:





Mr C Rosam - Director


XCUT CONSTRUCTION LTD (REGISTERED NUMBER: 12562923)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. Statutory information

Xcut Construction Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 12562923. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is 21 Fields Close, Winterbourne Whitechurch, Blandford Forum, Dorset, DT11 0AQ.

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 income received for the provision of carpentry services net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

XCUT CONSTRUCTION LTD (REGISTERED NUMBER: 12562923)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


3. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

4. Tangible fixed assets
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 May 2022
and 30 April 2023 8,394 191 19,500 753 28,838
Depreciation
At 1 May 2022 2,313 48 5,250 244 7,855
Charge for year 1,520 35 3,562 127 5,244
At 30 April 2023 3,833 83 8,812 371 13,099
Net book value
At 30 April 2023 4,561 108 10,688 382 15,739
At 30 April 2022 6,081 143 14,250 509 20,983

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
At 1 May 2022
and 30 April 2023 17,500
Depreciation
At 1 May 2022 4,375
Charge for year 3,281
At 30 April 2023 7,656
Net book value
At 30 April 2023 9,844
At 30 April 2022 13,125

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors - 14,519
Directors' current accounts 2,192 -
Prepayments 7,634 516
9,826 15,035

XCUT CONSTRUCTION LTD (REGISTERED NUMBER: 12562923)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


6. Creditors: amounts falling due within one year
2023 2022
£    £   
Hire purchase contracts 3,841 10,264
Trade creditors 4,650 5,963
Tax 2,897 1,531
CIS liability 2,583 2,979
VAT 2,642 117
Directors' current accounts - 7,981
Accruals and deferred income 1,660 1,730
18,273 30,565

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Hire purchase contracts 4,179 -

8. Provisions for liabilities
2023 2022
£    £   
Deferred tax 109 906

Deferred
tax
£   
Balance at 1 May 2022 906
Provided during year (797 )
Balance at 30 April 2023 109

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
75 Ordinary A £1 75 75
25 Ordinary B £1 25 25
100 100

10. Ultimate controlling party

The Company is under the control of the Director Mr C Rosam, by virtue of holding 75% of the issued voting share capital of the Company.