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Registered number: 04654647










COSTCUTTER (ESTON) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 21 JULY 2024

 
COSTCUTTER (ESTON) LIMITED
REGISTERED NUMBER: 04654647

BALANCE SHEET
AS AT 21 JULY 2024

21 July
31 March
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
33,821
43,436

  
33,821
43,436

Current assets
  

Stocks
  
53,108
83,606

Debtors: amounts falling due within one year
 6 
5,509
5,706

Cash at bank and in hand
 7 
237,629
127,617

  
296,246
216,929

Creditors: amounts falling due within one year
 8 
(99,441)
(98,179)

Net current assets
  
 
 
196,805
 
 
118,750

Total assets less current liabilities
  
230,626
162,186

Provisions for liabilities
  

Deferred tax
  
(8,050)
(10,365)

Net assets
  
222,576
151,821


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
222,574
151,819

  
222,576
151,821


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Page 1

 
COSTCUTTER (ESTON) LIMITED
REGISTERED NUMBER: 04654647
    
BALANCE SHEET (CONTINUED)
AS AT 21 JULY 2024

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr V Nadarajah
Director

Date: 14 October 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
COSTCUTTER (ESTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 21 JULY 2024

1.


General information

The company is a private company, limited by shares, incorporated in England and Wales and its registered office is:-
14 Fabian Court
Eston
Middlesbrough
TS6 9RX

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the statement of income and retained earnings in the same period as the related expenditure.

Page 3

 
COSTCUTTER (ESTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 21 JULY 2024

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
not depreciated
Plant & machinery
-
over 4 years straight line
Fixtures & fittings
-
over 10 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the period was 12 (2023 - 12).

Page 4

 
COSTCUTTER (ESTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 21 JULY 2024

4.


Intangible assets






Goodwill

£



Cost


At 1 April 2023
80,000



At 21 July 2024

80,000



Amortisation


At 1 April 2023
80,000



At 21 July 2024

80,000



Net book value



At 21 July 2024
-



At 31 March 2023
-



Page 5

 
COSTCUTTER (ESTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 21 JULY 2024

5.


Tangible fixed assets







Freehold property
Other fixed assets
Total

£
£
£



Cost


At 1 April 2023
1
203,346
203,347


Additions
-
790
790



At 21 July 2024

1
204,136
204,137



Depreciation


At 1 April 2023
-
159,911
159,911


Charge for the period on owned assets
-
10,405
10,405



At 21 July 2024

-
170,316
170,316



Net book value



At 21 July 2024
1
33,820
33,821



At 31 March 2023
1
43,435
43,436


6.


Debtors

21 July
31 March
2024
2023
£
£


Trade debtors
87
1,056

Other debtors
802
564

Prepayments and accrued income
4,620
4,086

5,509
5,706


Page 6

 
COSTCUTTER (ESTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 21 JULY 2024

7.


Cash and cash equivalents

21 July
31 March
2024
2023
£
£

Cash at bank and in hand
237,629
127,617

237,629
127,617



8.


Creditors: Amounts falling due within one year

21 July
31 March
2024
2023
£
£

Trade creditors
46,441
47,175

Corporation tax
24,859
17,961

Other taxation and social security
15,192
9,220

Other creditors
10,663
13,752

Accruals and deferred income
2,286
10,071

99,441
98,179



9.


Related party transactions

During the year the company purchased goods from a company under common control totalling £65,522.  This is a company in which the directors have an interest.  At the balance sheet date £Nil (2023: £3,226) was outstanding in trade creditors.


10.


Accounting period

The financial statements have been prepared from 1 April 2023 to 21 July 2024, therefore representing a 16 month period.

 
Page 7