7 01/11/2022 31/10/2023 2023-10-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-11-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 13665840 2022-11-01 2023-10-31 13665840 2023-10-31 13665840 2022-10-31 13665840 2021-11-01 2022-10-31 13665840 2022-10-31 13665840 2021-10-31 13665840 core:PlantMachinery 2022-11-01 2023-10-31 13665840 core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 13665840 bus:RegisteredOffice 2022-11-01 2023-10-31 13665840 bus:LeadAgentIfApplicable 2022-11-01 2023-10-31 13665840 bus:Director1 2022-11-01 2023-10-31 13665840 bus:Director2 2022-11-01 2023-10-31 13665840 bus:Director3 2022-11-01 2023-10-31 13665840 core:PlantMachinery 2023-10-31 13665840 core:FurnitureFittingsToolsEquipment 2023-10-31 13665840 core:WithinOneYear 2023-10-31 13665840 core:WithinOneYear 2022-10-31 13665840 core:AfterOneYear 2023-10-31 13665840 core:ShareCapital 2023-10-31 13665840 core:ShareCapital 2022-10-31 13665840 core:RetainedEarningsAccumulatedLosses 2023-10-31 13665840 core:RetainedEarningsAccumulatedLosses 2022-10-31 13665840 bus:Director1 2022-10-31 13665840 bus:Director1 2023-10-31 13665840 bus:Director2 2022-10-31 13665840 bus:Director2 2023-10-31 13665840 bus:Director3 2022-10-31 13665840 bus:Director3 2023-10-31 13665840 bus:Director1 2022-10-31 13665840 bus:Director2 2022-10-31 13665840 bus:Director3 2022-10-31 13665840 bus:Director1 2021-11-01 2022-10-31 13665840 bus:Director2 2021-11-01 2022-10-31 13665840 bus:Director3 2021-11-01 2022-10-31 13665840 bus:SmallEntities 2022-11-01 2023-10-31 13665840 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 13665840 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 13665840 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 13665840 bus:FullAccounts 2022-11-01 2023-10-31
Company registration number: 13665840
Complete Cutting Services Limited
Unaudited filleted financial statements
31 October 2023
Complete Cutting Services Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Complete Cutting Services Limited
Directors and other information
Directors T L Banks
B J Gillibrand
R T Payne
Company number 13665840
Registered office Parkgates, Bury New Road
Prestwich
Manchester
M25 0JW
Accountants Alexander Bursk Ltd
Parkgates, Bury New Road
Prestwich
Manchester
M25 0JW
Complete Cutting Services Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Complete Cutting Services Limited
Year ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Complete Cutting Services Limited for the year ended 31 October 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Complete Cutting Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Complete Cutting Services Limited and state those matters that we have agreed to state to the board of directors of Complete Cutting Services Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Complete Cutting Services Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Complete Cutting Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Complete Cutting Services Limited. You consider that Complete Cutting Services Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Complete Cutting Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Alexander Bursk Ltd
Accountants
Parkgates, Bury New Road
Prestwich
Manchester
M25 0JW
24 January 2024
Complete Cutting Services Limited
Statement of financial position
31 October 2023
31/10/23 31/10/23
Note £ £ £ £
Fixed assets
Tangible assets 5 46,349 -
_______ _______
46,349 -
Current assets
Debtors 6 129,764 47,503
Cash at bank and in hand 16,950 9,470
_______ _______
146,714 56,973
Creditors: amounts falling due
within one year 7 ( 65,196) ( 29,552)
_______ _______
Net current assets 81,518 27,421
_______ _______
Total assets less current liabilities 127,867 27,421
Creditors: amounts falling due
after more than one year 8 ( 38,805) -
_______ _______
Net assets 89,062 27,421
_______ _______
Capital and reserves
Called up share capital 5 5
Profit and loss account 89,057 27,416
_______ _______
Shareholders funds 89,062 27,421
_______ _______
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 January 2024 , and are signed on behalf of the board by:
T L Banks
Director
Company registration number: 13665840
Complete Cutting Services Limited
Notes to the financial statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Parkgates, Bury New Road, Prestwich, Manchester, M25 0JW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2022: 5 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 November 2022 - - -
Additions 50,561 3,967 54,528
_______ _______ _______
At 31 October 2023 50,561 3,967 54,528
_______ _______ _______
Depreciation
At 1 November 2022 - - -
Charge for the year 7,584 595 8,179
_______ _______ _______
At 31 October 2023 7,584 595 8,179
_______ _______ _______
Carrying amount
At 31 October 2023 42,977 3,372 46,349
_______ _______ _______
At 31 October 2022 - - -
_______ _______ _______
6. Debtors
31/10/23 31/10/23
£ £
Trade debtors 126,815 47,503
Other debtors 2,949 -
_______ _______
129,764 47,503
_______ _______
7. Creditors: amounts falling due within one year
31/10/23 31/10/23
£ £
Trade creditors 30,681 10,717
Corporation tax 8,302 6,464
Social security and other taxes 1,929 6,237
Other creditors 24,284 6,134
_______ _______
65,196 29,552
_______ _______
8. Creditors: amounts falling due after more than one year
31/10/23 31/10/23
£ £
Other creditors 38,805 -
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Year ended 31/10/23
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
T L Banks ( 1,766) - - ( 1,766)
B J Gillibrand ( 1,767) - - ( 1,767)
R T Payne ( 1,766) - - ( 1,766)
_______ _______ _______ _______
( 5,299) - - ( 5,299)
_______ _______ _______ _______
Period ended 31/10/23
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
T L Banks - 2 ( 1,768) ( 1,766)
B J Gillibrand - 1 ( 1,768) ( 1,767)
R T Payne - 2 ( 1,768) ( 1,766)
_______ _______ _______ _______
- 5 ( 5,304) ( 5,299)
_______ _______ _______ _______
10. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
Year Period Year Period
ended ended ended ended
31/10/23 31/10/23 31/10/23 31/10/23
£ £ £ £
Complete Wall Solutions Limited 338,369 93,402 117,981 46,977
Complete Wall Solutions Limited 80,457 - ( 56,388) -
Complete Fire Solutions NW Limited 112 315 134 -
_______ _______ _______ _______
Both of these companies and Complete Cutting Services Limited are under common control.
11. Controlling party
The company is controlled jointly by its three directors, who, together with members of their households, hold the company's entire share capital.