Cutler Communications Solutions Limited 04562858 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of the sale of BT telecommunications equipment and solutions within the SME environment. Digita Accounts Production Advanced 6.30.9574.0 true false 04562858 2023-04-01 2024-03-31 04562858 2024-03-31 04562858 core:RetainedEarningsAccumulatedLosses 2024-03-31 04562858 core:ShareCapital 2024-03-31 04562858 core:CurrentFinancialInstruments 2024-03-31 04562858 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04562858 core:Non-currentFinancialInstruments 2024-03-31 04562858 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 04562858 core:FurnitureFittingsToolsEquipment 2024-03-31 04562858 core:LandBuildings 2024-03-31 04562858 bus:SmallEntities 2023-04-01 2024-03-31 04562858 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04562858 bus:FilletedAccounts 2023-04-01 2024-03-31 04562858 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04562858 bus:RegisteredOffice 2023-04-01 2024-03-31 04562858 bus:Director1 2023-04-01 2024-03-31 04562858 bus:Director6 2023-04-01 2024-03-31 04562858 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04562858 core:ComputerEquipment 2023-04-01 2024-03-31 04562858 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 04562858 core:LandBuildings 2023-04-01 2024-03-31 04562858 core:PlantMachinery 2023-04-01 2024-03-31 04562858 1 2023-04-01 2024-03-31 04562858 countries:EnglandWales 2023-04-01 2024-03-31 04562858 2023-03-31 04562858 core:FurnitureFittingsToolsEquipment 2023-03-31 04562858 core:LandBuildings 2023-03-31 04562858 2022-04-01 2023-03-31 04562858 2023-03-31 04562858 core:RetainedEarningsAccumulatedLosses 2023-03-31 04562858 core:ShareCapital 2023-03-31 04562858 core:CurrentFinancialInstruments 2023-03-31 04562858 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04562858 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-03-31 04562858 core:Non-currentFinancialInstruments 2023-03-31 04562858 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 04562858 core:FurnitureFittingsToolsEquipment 2023-03-31 04562858 core:LandBuildings 2023-03-31 04562858 core:PreviouslyStatedAmount 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 04562858

Cutler Communications Solutions Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Cutler Communications Solutions Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Cutler Communications Solutions Limited

(Registration number: 04562858)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

282,351

284,018

Current assets

 

Debtors

5

224,251

301,828

Cash at bank and in hand

 

583,652

85,060

 

807,903

386,888

Creditors: Amounts falling due within one year

6

(769,613)

(366,527)

Net current assets

 

38,290

20,361

Total assets less current liabilities

 

320,641

304,379

Creditors: Amounts falling due after more than one year

6

(44,365)

(62,416)

Provisions for liabilities

(10,602)

(9,768)

Net assets

 

265,674

232,195

Capital and reserves

 

Called up share capital

10,000

10,000

Retained earnings

255,674

222,195

Shareholders' funds

 

265,674

232,195

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 August 2024 and signed on its behalf by:
 

 

Cutler Communications Solutions Limited

(Registration number: 04562858)
Balance Sheet as at 31 March 2024

.........................................
Mr L J Palmer
Director

.........................................
Mrs L Palmer
Director

 
     
 

Cutler Communications Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Point
Bradmarsh Business Park
Bradmarsh Way
Rotherham
South Yorkshire
S60 1BP

These financial statements were authorised for issue by the Board on 15 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Cutler Communications Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

2% straight line per annum

Plant and machinery

15% reducing balance per annum

Computer equipment

25% reducing balance per annum

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Cutler Communications Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 36 (2023 - 29).

 

Cutler Communications Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

249,946

103,675

353,621

Additions

-

16,409

16,409

Disposals

-

(21,991)

(21,991)

At 31 March 2024

249,946

98,093

348,039

Depreciation

At 1 April 2023

4,998

64,605

69,603

Charge for the year

4,999

11,089

16,088

Eliminated on disposal

-

(20,003)

(20,003)

At 31 March 2024

9,997

55,691

65,688

Carrying amount

At 31 March 2024

239,949

42,402

282,351

At 31 March 2023

244,948

39,070

284,018

Included within the net book value of land and buildings above is £239,949 (2023 - £244,948) in respect of freehold land and buildings.
 

 

Cutler Communications Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Debtors

2024
£

2023
£

Other debtors

600

1,000

Prepayments and accrued income

223,651

300,828

224,251

301,828

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

17,681

16,685

Trade creditors

 

10,862

8,217

Amounts owed to related parties

340,000

219,490

Taxation and social security

 

163,032

35,347

Corporation tax

 

169,492

39,040

Other creditors

 

8,756

3,069

Accrued expenses

 

59,790

44,679

 

769,613

366,527


Creditors include bank loans which are secured of £17,681 (2023 - £16,685).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

44,365

62,416


Creditors include bank loans which are secured of £44,365 (2023 - £62,416).

 

Cutler Communications Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

17,681

16,685

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

44,365

62,416

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £94,768 (2023 - £58,380).

9

Parent and ultimate parent undertaking

The company's immediate parent is Cutler Communications Holdings Limited, incorporated in England and Wales.

 The ultimate parent is Cutler SYH Ltd, incorporated in England and Wales.