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Company Registration No. 05195904 (England and Wales)
NEAT CUT LIMITED Unaudited accounts for the year ended 31 July 2024
NEAT CUT LIMITED Unaudited accounts Contents
Page
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NEAT CUT LIMITED Company Information for the year ended 31 July 2024
Directors
Z. Bojarski O Gedrimas
Company Number
05195904 (England and Wales)
Registered Office
48 Beechcroft Road Bushey Herts WD23 2JU
Accountants
Fielding Accountancy Services Ltd 48 Beechcroft Road Bushey Herts WD23 2JU
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NEAT CUT LIMITED Accountants' report
Accountants' report to the board of directors of NEAT CUT LIMITED on the preparation of the unaudited statutory accounts for the year ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of NEAT CUT LIMITED for the year ended 31 July 2024 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of NEAT CUT LIMITED, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of NEAT CUT LIMITED and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NEAT CUT LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that NEAT CUT LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of NEAT CUT LIMITED. You consider that NEAT CUT LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of NEAT CUT LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Fielding Accountancy Services Ltd 48 Beechcroft Road Bushey Herts WD23 2JU 13 October 2024
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NEAT CUT LIMITED Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
32,886 
31,994 
Current assets
Inventories
63,850 
56,700 
Debtors
96,250 
123,456 
Cash at bank and in hand
118,629 
95,095 
278,729 
275,251 
Creditors: amounts falling due within one year
(233,818)
(228,668)
Net current assets
44,911 
46,583 
Total assets less current liabilities
77,797 
78,577 
Creditors: amounts falling due after more than one year
(10,482)
(18,370)
Provisions for liabilities
Deferred tax
(8,221)
(5,954)
Net assets
59,094 
54,253 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
58,994 
54,153 
Shareholders' funds
59,094 
54,253 
For the year ending 31 July 2024 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 October 0224 and were signed on its behalf by
Z. Bojarski Director Company Registration No. 05195904
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NEAT CUT LIMITED Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
NEAT CUT LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05195904. The registered office is 48 Beechcroft Road, Bushey, Herts, WD23 2JU.
2
Compliance with accounting standards
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Written Down Value
Motor vehicles
15% Written Down Value
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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NEAT CUT LIMITED Notes to the Accounts for the year ended 31 July 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 August 2023
117,814 
23,667 
141,481 
Additions
8,988 
- 
8,988 
At 31 July 2024
126,802 
23,667 
150,469 
Depreciation
At 1 August 2023
87,810 
21,677 
109,487 
Charge for the year
7,798 
298 
8,096 
At 31 July 2024
95,608 
21,975 
117,583 
Net book value
At 31 July 2024
31,194 
1,692 
32,886 
At 31 July 2023
30,004 
1,990 
31,994 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
90,000 
123,048 
Accrued income and prepayments
6,250 
- 
Other debtors
- 
408 
96,250 
123,456 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
8,522 
10,648 
Trade creditors
14,474 
12,820 
Taxes and social security
54,899 
50,174 
Other creditors
21,965 
31,068 
Loans from directors
133,958 
123,958 
233,818 
228,668 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
10,482 
18,370 
The Bank Loan shown is the Government guaranteed Covid-19 'Bounce Back Loan' received under the Government Job Retention Scheme.
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
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NEAT CUT LIMITED Notes to the Accounts for the year ended 31 July 2024
9
Transactions with related parties
Dividends paid during the year 2024 £120000 ( 2023 £100000) paid to the Directors.
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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