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Company Registration No. 05669059 (England and Wales)
Cutters Limited Unaudited accounts for the year ended 31 March 2024
Cutters Limited Unaudited accounts Contents
Page
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Cutters Limited Company Information for the year ended 31 March 2024
Directors
Richard Poxton Kate Poxton
Company Number
05669059 (England and Wales)
Registered Office
28 Crown Road Twickenham TW1 3EE England
Accountants
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN
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Cutters Limited Accountants' report
Accountants' report to the board of directors of Cutters Limited on the preparation of the unaudited statutory accounts for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Cutters Limited for the year ended 31 March 2024 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Cutters Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Cutters Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cutters Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Cutters Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Cutters Limited. You consider that Cutters 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 accounts of Cutters 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 accounts.
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN 8 June 2024
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Cutters Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
644 
859 
Current assets
Inventories
17,672 
17,672 
Debtors
2,135 
6,048 
Cash at bank and in hand
1,183 
161 
20,990 
23,881 
Creditors: amounts falling due within one year
(62,067)
(45,568)
Net current liabilities
(41,077)
(21,687)
Net liabilities
(40,433)
(20,828)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(40,533)
(20,928)
Shareholders' funds
(40,433)
(20,828)
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 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 8 June 2024 and were signed on its behalf by
Kate Poxton Director Company Registration No. 05669059
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Cutters Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Cutters Limited is a private company, limited by shares, registered in England and Wales, registration number 05669059. The registered office is 28 Crown Road, Twickenham, TW1 3EE, England.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
25% on reducing balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 April 2023
4,825 
At 31 March 2024
4,825 
Depreciation
At 1 April 2023
3,966 
Charge for the year
215 
At 31 March 2024
4,181 
Net book value
At 31 March 2024
644 
At 31 March 2023
859 
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Cutters Limited Notes to the Accounts for the year ended 31 March 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
2,135 
6,048 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
4,423 
1,236 
Trade creditors
- 
3,227 
Loans from directors
50,545 
35,918 
Accruals
7,099 
5,187 
62,067 
45,568 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Kate Poxton
Director Loan account
(35,918)
(38,765)
(24,138)
(50,545)
(35,918)
(38,765)
(24,138)
(50,545)
9
Average number of employees
During the year the average number of employees was 4 (2023: 5).
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