2022-12-01 07065340 2023-11-30 07065340 2022-12-01 2023-11-30 07065340 2022-11-30 07065340 2021-12-01 2022-11-30 07065340 uk-core:WithinOneYear 2022-11-30 07065340 uk-core:WithinOneYear 2023-11-30 07065340 uk-core:ShareCapital 2023-11-30 07065340 uk-core:ShareCapital 2022-11-30 07065340 uk-core:SharePremium 2023-11-30 07065340 uk-core:SharePremium 2022-11-30 07065340 uk-core:RetainedEarningsAccumulatedLosses 2023-11-30 07065340 uk-core:RetainedEarningsAccumulatedLosses 2022-11-30 07065340 uk-bus:Director1 2022-12-01 2023-11-30 07065340 uk-core:NetGoodwill 2022-12-01 2023-11-30 07065340 uk-core:FurnitureFittings 2022-12-01 2023-11-30 07065340 uk-core:Goodwill 2022-11-30 07065340 uk-core:Goodwill 2023-11-30 07065340 uk-core:BetweenTwoFiveYears 2022-11-30 07065340 uk-core:BetweenTwoFiveYears 2023-11-30 iso4217:GBP xbrli:pure 07065340 uk-bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 07065340 uk-bus:FRS102 2022-12-01 2023-11-30 07065340 uk-bus:FilletedAccounts 2022-12-01 2023-11-30 07065340 uk-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30
Cuttin'um Palace Limited
Registered Number:07065340
For the year ended 30 November 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 30 November 2023
Cuttin'um Palace Limited
Contents Page
1
Statement of Financial Position
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Notes to the Financial Statements
3
Registered Number :
07065340
As at 30 November 2023
Cuttin'um Palace Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
1,347
775
3
1,347
775
Current assets
Inventories
7,613
7,109
4
Trade and other receivables
2,483
-
5
35,799
Cash and cash equivalents
34,749
41,858
45,895
Trade and other payables: amounts falling due within one year
(20,255)
(20,042)
6
25,640
21,816
Net current assets
Total assets less current liabilities
23,163
26,415
(261)
(147)
Provisions for liabilities
22,902
Net assets
26,268
Capital and reserves
Called up share capital
1
1
Share premium account
49
49
Retained earnings
22,852
26,218
22,902
26,268
Shareholders' funds
For the year ended 30 November 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 of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges her responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mrs Sally Snell Director
These financial statements were approved and authorised for issue by the Board on 12 July 2024 and were signed by:
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4
Registered Number :
07065340
For the year ended 30 November 2023
Cuttin'um Palace Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 30 November 2023
Cuttin'um Palace Limited
Notes to the Financial Statements
Statutory Information
Cuttin'um Palace Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 07065340.
Principal place of business:
6 Cranmore House
Market Cross
Malmesbury
Wiltshire
SN16 9AS
Registered address:
Windyridge
Amberley
Stroud
Gloucestershire
GL5 5AA
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting
Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act
2006. The financial statements have been prepared under the historical costs convention as modified by the revaluation
of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of 10 years.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
25% Reducing balance
Furniture and Fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Inventories
Inventories are valued at the lower of cost and estimated selling price less costs to sell.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
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6
For the year ended 30 November 2023
Cuttin'um Palace Limited
Notes to the Financial Statements Continued
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 December 2022
25,000
At 30 November 2023
25,000
Amortisation
At 01 December 2022
25,000
At 30 November 2023
25,000
Net book value
At 30 November 2023
-
At 30 November 2022
-
3. Property, plant and equipment
Furniture and
Fittings
£
Cost or valuation
At 01 December 2022
12,587
1,021
Additions
At 30 November 2023
13,608
Provision for depreciation and impairment
At 01 December 2022
11,812
Charge for year
449
At 30 November 2023
12,261
At 30 November 2023
Net book value
1,347
At 30 November 2022
775
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7
For the year ended 30 November 2023
Cuttin'um Palace Limited
Notes to the Financial Statements Continued
4. Inventories
2022
2023
£
£
Stocks
7,109
7,613
5. Trade and other receivables
2022
2023
£
£
Trade debtors
-
2,483
6. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
1,915
1,591
Taxation and social security
15,250
15,869
Other creditors
2,877
2,795
20,042
20,255
7. Guarantees and other financial commitments
Lease commitments
At 30 November 2023 the company had annual commitments under non-cancellable operating leases as set out below:
2022
£
2023
£
Operating leases which expire:
4,400
4,400
Within 2 to 5 years
4,400
4,400
8. Average number of persons employed
During the year the average number of employees was 3 (2022 : 3)
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