Company Registration No. 13461507 (England and Wales)
Cut of Class Ltd
Unaudited Financial Statements
for the year ended 31 July 2023
Cut of Class Ltd
Unaudited Financial Statements
Contents
Cut of Class Ltd
Company Information
for the year ended 31 July 2023
Directors
Mrs Lisa Hellier
Mr Paul Hellier
Company Number
13461507 (England and Wales)
Registered Office
Shop 2, 3 Marldon Cross Hill
Marldon
Paignton
Devon
TQ3 1NE
Cut of Class Ltd
Statement of financial position
as at 31 July 2023
Intangible assets
3,005
3,605
Tangible assets
7,054
2,760
Cash at bank and in hand
1,370
19,118
Creditors: amounts falling due within one year
(7,076)
(12,383)
Net current assets
8,299
7,166
Called up share capital
100
100
Profit and loss account
18,258
13,431
Shareholders' funds
18,358
13,531
For the year ending 31 July 2023 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by
Mrs Lisa Hellier
Director
Company Registration No. 13461507
Cut of Class Ltd
Notes to the Accounts
for the year ended 31 July 2023
Cut of Class Ltd is a private company, limited by shares, registered in England and Wales, registration number 13461507. The registered office is Shop 2, 3 Marldon Cross Hill, Marldon, Paignton, Devon, TQ3 1NE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line Basis
Fixtures & fittings
15% Straight Line Basis
Computer equipment
25% Straight Line Basis
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Purchased goodwill is being written off over a period of 5 years.
4
Intangible fixed assets
Goodwill
Other
Total
At 1 August 2022
3,000
1,205
4,205
At 31 July 2023
3,000
1,205
4,205
At 1 August 2022
600
-
600
Charge for the year
600
-
600
At 31 July 2023
1,200
-
1,200
At 31 July 2023
1,800
1,205
3,005
At 31 July 2022
2,400
1,205
3,605
Cut of Class Ltd
Notes to the Accounts
for the year ended 31 July 2023
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2022
847
2,323
-
3,170
Additions
820
2,584
1,777
5,181
At 31 July 2023
1,667
4,907
1,777
8,351
At 1 August 2022
106
304
-
410
Charge for the year
211
561
115
887
At 31 July 2023
317
865
115
1,297
At 31 July 2023
1,350
4,042
1,662
7,054
At 31 July 2022
741
2,019
-
2,760
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
2,500
4,909
Loans from directors
-
5,319
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan advance
(5,319)
30,199
11,667
13,213
(5,319)
30,199
11,667
13,213
Interest is charged at the rate of 2% on the loan amount advanced. There are no terms of repayment.
9
Average number of employees
During the year the average number of employees was 4 (2022: 4).