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REGISTERED NUMBER: 14590991 (England and Wales)












CURE IT COMPOSITES USA LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 13 JANUARY 2023 TO 31 MARCH 2024






CURE IT COMPOSITES USA LIMITED (REGISTERED NUMBER: 14590991)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 13 JANUARY 2023 TO 31 MARCH 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


CURE IT COMPOSITES USA LIMITED

COMPANY INFORMATION
FOR THE PERIOD 13 JANUARY 2023 TO 31 MARCH 2024







DIRECTORS: M S Chialton
Ms E Horrobin





REGISTERED OFFICE: Shorrock House
1 Faraday Court
Fulwood
Preston
Lancashire
PR2 9NB





REGISTERED NUMBER: 14590991 (England and Wales)





ACCOUNTANTS: Rushtons
Chartered Accountants
Shorrock House
1 Faraday Court
Fulwood
Preston
Lancashire
PR2 9NB

CURE IT COMPOSITES USA LIMITED (REGISTERED NUMBER: 14590991)

ABRIDGED BALANCE SHEET
31 MARCH 2024

£   
CURRENT ASSETS
Debtors 213,885
Cash at bank 26,071
239,956
CREDITORS
Amounts falling due within one year 240,312
NET CURRENT LIABILITIES (356 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(356

)

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings (456 )
SHAREHOLDERS' FUNDS (356 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

CURE IT COMPOSITES USA LIMITED (REGISTERED NUMBER: 14590991)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2024 and were signed on its behalf by:





Ms E Horrobin - Director


CURE IT COMPOSITES USA LIMITED (REGISTERED NUMBER: 14590991)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 13 JANUARY 2023 TO 31 MARCH 2024

1. STATUTORY INFORMATION

Cure it Composites USA Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis, the validity of which may be inappropriate as at 31 March 2024, the company's total liabilities exceeded its total assets by £356. The financial statements do not include any adjustment that may result from the company ceasing to trade.

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 £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

CURE IT COMPOSITES USA LIMITED (REGISTERED NUMBER: 14590991)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 13 JANUARY 2023 TO 31 MARCH 2024

4. RELATED PARTY DISCLOSURES

Included within trade debtors is an amount of £130,707 due from Cure IT USA Inc, a company with common directors and shareholders. Sales made to Cure IT USA Inc in the period totalled £165,018. Included within debtors is also £78,119.42 due from Cure IT USA Inc.

Included within trade creditors is an amount of £140,849 due from Cure It Composites Limited, a company with common directors and shareholders. Purchases made from Cure It Composites Limited in the period totalled £117,374. Included within other creditors is also £99,463 due from Cure It Composites Limited.