Cutts (Bromley) Limited
Unaudited Financial Statements
For the year ended 31 May 2024
Pages for Filing with Registrar
Company Registration No. 00530736 (England and Wales)
Cutts (Bromley) Limited
Company Information
Director
Mr P Cutts
Company number
00530736
Registered office
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Cutts (Bromley) Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 3
Cutts (Bromley) Limited
Balance Sheet
As at 31 May 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
3
135,177
135,177
Current assets
Debtors
4
7,800
3,900
Cash at bank and in hand
288,410
278,409
296,210
282,309
Creditors: amounts falling due within one year
5
(6,197)
(5,490)
Net current assets
290,013
276,819
Net assets
425,190
411,996
Capital and reserves
Called up share capital
6
100
100
Capital redemption reserve
270
270
Profit and loss reserves
424,820
411,626
Total equity
425,190
411,996

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 30 August 2024
Mr P  Cutts
Director
Company Registration No. 00530736
Cutts (Bromley) Limited
Notes to the Financial Statements
For the year ended 31 May 2024
Page 2
1
Accounting policies
Company information

Cutts (Bromley) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Orbital House, 20 Eastern Road, Romford, Essex, RM1 3PJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration for rent receivable and is shown net of VAT.

 

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company only has basic financial assets and liabilities.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Cutts (Bromley) Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2024
Page 3
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2023 - 1)

3
Investment property
2024
£
Fair value
At 1 June 2023 and 31 May 2024
135,177

Investment property comprises 2 properties. The historical cost of the properties is £135,177 (2023: £135,177) and is not considered by the director to be materially different from the fair valuation.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Prepayments and accrued income
7,800
3,900
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
4,499
3,792
Other creditors
138
138
Accruals and deferred income
1,560
1,560
6,197
5,490
6
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
100 Ordinary shares of £1 each
100
100
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