09439957falsecutting and edging of boards for the carpentry industry. The company began trading in October 20152023-04-012024-03-31http://www.companieshouse.gov.uk/2023-03-31http://www.companieshouse.gov.uk/pt:PlantMachinery2023-03-31http://www.companieshouse.gov.uk/pt:ShareCapital2023-03-31http://www.companieshouse.gov.uk/cd:Director12023-04-012024-03-31http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2023-03-31http://www.companieshouse.gov.uk/pt:PlantMachinery2024-03-31http://www.companieshouse.gov.uk/pt:ShareCapital2024-03-31http://www.companieshouse.gov.uk/cd:Director22023-04-012024-03-31http://www.companieshouse.gov.uk/pt:FurnitureFittings2023-03-31http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2024-03-31http://www.companieshouse.gov.uk/cd:Director32023-04-012024-03-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2023-03-31http://www.companieshouse.gov.uk/pt:FurnitureFittings2024-03-31http://www.companieshouse.gov.uk/pt:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12023-04-012024-03-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2024-03-31http://www.companieshouse.gov.uk/pt:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-03-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2023-04-012024-03-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2023-04-012024-03-31http://www.companieshouse.gov.uk/pt:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-04-012024-03-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2024-03-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-03-31http://www.companieshouse.gov.uk/2023-04-012024-03-31http://www.companieshouse.gov.uk/2023-03-31http://www.companieshouse.gov.uk/cd:FRS1022023-04-012024-03-31http://www.companieshouse.gov.uk/2024-03-31http://www.companieshouse.gov.uk/cd:FullAccounts2023-04-012024-03-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2023-04-012024-03-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 09439957

Cutlist Limited

ACCOUNTS
FOR THE YEAR ENDED 31/03/2024

Prepared By:
Samantha Kelly ACA
10
Fernie FIelds
High Wycombe
Bucks
HP12 4SP

Cutlist Limited

ACCOUNTS
FOR THE YEAR ENDED 31/03/2024
DIRECTORS
Alexander Langstaff-Ellis
Edward John Birks
Stephen Berry
REGISTERED OFFICE
Manor Farm
Chinnor Hill
Chinnor
Oxon
OX39 4BG
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 09439957
ACCOUNTANTS
Samantha Kelly ACA
10
Fernie FIelds
High Wycombe
Bucks
HP12 4SP

Cutlist Limited

ACCOUNTS
FOR THEYEARENDED31/03/2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Cutlist Limited

BALANCE SHEET AT 31/03/2024
20242023
Notes££
FIXED ASSETS
Intangible assets215,1018,891
Tangible assets387,266110,716
102,367119,607
CURRENT ASSETS
Stock21,17026,314
Debtors526,25030,196
Cash at bank and in hand32,72219,703
80,14276,213
CREDITORS: Amounts falling due within one year6168,427127,717
NET CURRENT LIABILITIES(88,285)(51,504)
TOTAL ASSETS LESS CURRENT LIABILITIES14,08268,103
CREDITORS: Amounts falling due after more than one year76,54926,555
NET ASSETS7,53341,548
CAPITAL AND RESERVES
Called up share capital9100100
Profit and loss account7,43341,448
SHAREHOLDERS' FUNDS7,53341,548
For the year ending 31/03/2024 the company was entitled to exemption 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 directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 06/08/2024 and signed on their behalf by
.............................
Edward John Birks
Director

Cutlist Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/03/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Short Leasehold Propertiesreducing balance 15%
Plant and Machinerystraight line 10 - 20%
Commercial Vehiclesreducing balance 25%
Fixtures and Fittingsreducing balance 15%
Equipmentreducing balance 25%
1c. Intangible Assets
Development expenditure is normally written off in the year of expenditure, however expenditure incurred on specific projects is capitalised when recoverability can be foreseen with reasonable certainty and is amortised in relation to sales from such projects.
Website development costs have been capitalised on the basis that the website will enable e-commerce and the directors have determined that it is probable that the expected future economic benefits that are attributable to the asset will flow to the company; and that the cost, or value, of the asset can be measured reliably
The asset will be amortised over it's expected useful life when it is brought into use. This is estimated to be 5 years
1d. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1e. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.

Cutlist Limited

1f. Basis Of Accounting FRS 1021 a
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 currency in which the financial statements are presented is £ Sterling.
1g.
1h. Taxation
Taxation represents the sum of tax currently payable and deferred tax. 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. Following the provisions of FRS102 Section 1A deferred tax is to be provided on fair value adjustments. Under other circumstances, deferred tax is recognised on all 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, and 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.
1i. Leases
Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their expected useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease. All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term.
2. INTANGIBLE FIXED ASSETS
Development
CostsTotal
££
Cost
At 01/04/20238,8918,891
Additions9,9859,985
At 31/03/202418,87618,876
Depreciation
For the year3,7753,775
At 31/03/20243,7753,775
Net Book Amounts
At 31/03/202415,10115,101
At 31/03/20238,8918,891
The company has committed to further expenditure of £6865 upon completion of the website development

Cutlist Limited

3. TANGIBLE FIXED ASSETS
Short LeaseholdPlant andCommercialFixtures
PropertiesMachineryVehiclesand FittingsEquipmentTotal
££££££
Cost
At 01/04/20235,045156,30644,0385,19810,588221,175
Additions10,000--40658310,989
Disposals(3,723)(3,899)(1,976)-(1,401)(10,999)
At 31/03/202411,322152,40742,0625,6049,770221,165
Depreciation
At 01/04/20232,17780,75116,7393,7547,038110,459
Disposals(2,415)(1,867)(1,251)-(1,261)(6,794)
For the year93116,7499,3839892,18230,234
At 31/03/202469395,63324,8714,7437,959133,899
Net Book Amounts
At 31/03/202410,62956,77417,1918611,81187,266
At 31/03/20232,86875,55527,2991,4443,550110,716
4. STOCK 20242023
££
Stock comprises:
Stock21,17026,314
21,17026,314
5. DEBTORS 20242023
££
Amounts falling due within one year
Trade debtors16,01115,484
Amounts due from group companies12-
Prepayments8,81613,301
Directors current account711711
Directors current account700700
26,25030,196

Cutlist Limited

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
UK corporation tax-23,473
Other tax95313
VAT12,56313,942
Amounts due from group companies-443
Loans12,25713,562
Hire purchase7,0758,445
Payments received on account4,1085,634
Trade creditors129,54059,574
Pension schemes1,3381,827
Accruals1,451504
168,427127,717
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20242023
££
Loans >1yr-12,257
Hire purchase >1yr6,54914,298
6,54926,555
8. EMPLOYEES
20242023
No.No.
Average number of employees89
9. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100
New shares issued during period:
100 Ordinary shares of £1 each100100

Cutlist Limited

10. CONTROLLING PARTY
During the period to 31/3/24 the company was under the control of the Directors via their shareholdings in Hem Group Holdings Limited - the company's parent undertaking.
11. RELATED PARTY TRANSACTIONS
During the period the company made sales of £268,261 (2023 - £185,760) to Langstaff-Ellis Limited, a company under the control of the Directors. Overhead and other joint cost recharges were received from Langstaff-Ellis, as the companies share the same premises and administrative processes, of £34,209 (2023 - £41,366.) Langstaff-Ellis charged the company £48421 (2023 - £80,922) in respect of materials and product processing.
At the period end Langstaff-Ellis owed £14,805 (2023 - £10,858) to the company in respect of materials and the company owed Langstaff-Ellis £16,706 (2023 - £1,920) in respect of overheads and materials.
Hem Group Holdings Limited, the parent undertaking invoiced the company £70,971 (2023 - 59,515) in relation to Directors' remuneration.
12. FINANCIAL COMMITMENTS
Financial commitments in the coming year, guarantees and contingencies which are not included in the balance sheet amount to £25,400 (2023 £15,840) and are in relation to commitments under operating leases.