Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31false2true2022-11-01No description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10429052 2022-11-01 2023-10-31 10429052 2021-11-01 2022-10-31 10429052 2023-10-31 10429052 2022-10-31 10429052 c:Director1 2022-11-01 2023-10-31 10429052 d:ComputerEquipment 2022-11-01 2023-10-31 10429052 d:ComputerEquipment 2023-10-31 10429052 d:ComputerEquipment 2022-10-31 10429052 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 10429052 d:CurrentFinancialInstruments 2023-10-31 10429052 d:CurrentFinancialInstruments 2022-10-31 10429052 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 10429052 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 10429052 d:ShareCapital 2023-10-31 10429052 d:ShareCapital 2022-10-31 10429052 d:RetainedEarningsAccumulatedLosses 2023-10-31 10429052 d:RetainedEarningsAccumulatedLosses 2022-10-31 10429052 c:FRS102 2022-11-01 2023-10-31 10429052 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 10429052 c:FullAccounts 2022-11-01 2023-10-31 10429052 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 10429052 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 10429052










CUTTHORPE MANAGEMENT SERVICES LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

 
CUTTHORPE MANAGEMENT SERVICES LTD
REGISTERED NUMBER: 10429052

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
876
73

Current assets
  

Debtors: amounts falling due within one year
 5 
6,957
1,848

Cash at bank and in hand
  
56,811
61,385

  
63,768
63,233

Creditors: amounts falling due within one year
 6 
(28,034)
(32,166)

Net current assets
  
 
 
35,734
 
 
31,067

  

Net assets
  
36,610
31,140


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
36,510
31,040

  
36,610
31,140


Page 1

 
CUTTHORPE MANAGEMENT SERVICES LTD
REGISTERED NUMBER: 10429052
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 April 2024.




J P Begley
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
CUTTHORPE MANAGEMENT SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Cutthorpe Management Services Ltd is a private company limited by shares, incorporated in England and Wales (registered number: 10429052). Its registered office is 52 Cutthorpe Road, Chesterfield, England,  S42 7AE. The principal activity of the Company throughout the year continued to be management consultancy.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
CUTTHORPE MANAGEMENT SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

The depreciation rates used are:

Computer equipment
-
33%
Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously

 
2.6

Taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.

Page 4

 
CUTTHORPE MANAGEMENT SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Computer equipment

£



Cost 


At 1 November 2022
819


Additions
1,099



At 31 October 2023

1,918



Depreciation


At 1 November 2022
746


Charge for the year on owned assets
296



At 31 October 2023

1,042



Net book value



At 31 October 2023
876



At 31 October 2022
73


5.


Debtors

2023
2022
£
£


Prepayments and accrued income
6,957
1,848

6,957
1,848


Page 5

 
CUTTHORPE MANAGEMENT SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
4,467
3,991

Other creditors
21,567
21,255

Accruals and deferred income
2,000
6,920

28,034
32,166


 
Page 6