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Registered number: 12395909
Cutty Holdings Limited
Financial Statements
For The Year Ended 31 March 2024
AJM Accountancy & Taxation Ltd
21 Goldings Close
Kings Hill
Kent
ME19 4BE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12395909
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 39,686
Investments 5 28 28
28 39,714
CURRENT ASSETS
Debtors 6 250,000 -
Cash at bank and in hand 1,823,486 2,029,208
2,073,486 2,029,208
Creditors: Amounts Falling Due Within One Year 7 (42,494 ) (227,237 )
NET CURRENT ASSETS (LIABILITIES) 2,030,992 1,801,971
TOTAL ASSETS LESS CURRENT LIABILITIES 2,031,020 1,841,685
Creditors: Amounts Falling Due After More Than One Year 8 - (55,039 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (9,922 )
NET ASSETS 2,031,020 1,776,724
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 2,031,018 1,776,722
SHAREHOLDERS' FUNDS 2,031,020 1,776,724
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Philip Cuthbertson
Director
18 April 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Cutty Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12395909 . The registered office is 34 Forest Way, Kings Hill, West Malling, ME19 4FW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 rendering of services. Turnover is reduced for estimated customer rebates and other similar allowances.

Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% on straight line
Computer Equipment 33% on straight-line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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Page 4
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Investments in associates
Investments in associates are accounted for at cost.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 98,948 1,127 100,075
Disposals (98,948 ) - (98,948 )
As at 31 March 2024 - 1,127 1,127
Depreciation
As at 1 April 2023 59,369 1,020 60,389
Provided during the period - 107 107
Disposals (59,369 ) - (59,369 )
As at 31 March 2024 - 1,127 1,127
...CONTINUED
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Net Book Value
As at 31 March 2024 - - -
As at 1 April 2023 39,579 107 39,686
5. Investments
Unlisted
£
Cost
As at 1 April 2023 28
As at 31 March 2024 28
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 28
As at 1 April 2023 28
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 250,000 -
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 9,547
Corporation tax 40,187 215,864
Accruals and deferred income 1,728 1,247
Directors' loan accounts 579 579
42,494 227,237
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 55,039
Page 5
Page 6
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 13,559
Later than one year and not later than five years - 55,039
- 68,598
Less: Finance charges allocated to future periods - 4,012
- 64,586
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
11. Ultimate Controlling Party
The company's ultimate controlling party is Mr Philip Cuthbertson and Mrs Caroline Cuthbertson by virtue of their ownership of 100% of the issued share capital in the company in equal proportion.
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