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REGISTERED NUMBER: 03876049 (England and Wales)

















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Cutts Brothers Engineering Limited

Cutts Brothers Engineering Limited (Registered number: 03876049)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cutts Brothers Engineering Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mr S Pemberton
Mr S D Pemberton





REGISTERED OFFICE: 61 Calvert Road
Darnall
Sheffield
South Yorkshire
S9 5EU





REGISTERED NUMBER: 03876049 (England and Wales)





ACCOUNTANTS: Lishmans LLP
16-18 Station Road
Chapeltown
Sheffield
South Yorkshire
S35 2XH

Cutts Brothers Engineering Limited (Registered number: 03876049)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,723 39,054

CURRENT ASSETS
Debtors 5 203,683 256,229
Cash at bank 44,207 70,128
247,890 326,357
CREDITORS
Amounts falling due within one year 6 210,241 210,099
NET CURRENT ASSETS 37,649 116,258
TOTAL ASSETS LESS CURRENT
LIABILITIES

65,372

155,312

CREDITORS
Amounts falling due after more than
one year

7

(49,415

)

(44,300

)

PROVISIONS FOR LIABILITIES 8 - (7,420 )
NET ASSETS 15,957 103,592

Cutts Brothers Engineering Limited (Registered number: 03876049)

Balance Sheet - continued
31 January 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 15,956 103,591
SHAREHOLDERS' FUNDS 15,957 103,592

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2024 and were signed on its behalf by:





Mr S Pemberton - Director


Cutts Brothers Engineering Limited (Registered number: 03876049)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Cutts Brothers Engineering 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance basis
Fixtures and fittings - 20% reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance basis

Taxation
Taxation for the year 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 year 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.

Cutts Brothers Engineering Limited (Registered number: 03876049)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 16,200 4,897 57,017 5,242 83,356
Additions - - 9,680 637 10,317
Disposals (16,200 ) - - - (16,200 )
At 31 January 2024 - 4,897 66,697 5,879 77,473
DEPRECIATION
At 1 February 2023 4,050 979 35,406 3,867 44,302
Charge for year - 785 7,824 889 9,498
Eliminated on disposal (4,050 ) - - - (4,050 )
At 31 January 2024 - 1,764 43,230 4,756 49,750
NET BOOK VALUE
At 31 January 2024 - 3,133 23,467 1,123 27,723
At 31 January 2023 12,150 3,918 21,611 1,375 39,054

Cutts Brothers Engineering Limited (Registered number: 03876049)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2023
and 31 January 2024 24,800
DEPRECIATION
At 1 February 2023
and 31 January 2024 6,200
NET BOOK VALUE
At 31 January 2024 18,600
At 31 January 2023 18,600

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 167,352 256,229
Other debtors 36,331 -
203,683 256,229

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 13,566 7,574
Trade creditors 98,582 122,074
Taxation and social security 55,645 22,219
Other creditors 32,448 48,232
210,241 210,099

Cutts Brothers Engineering Limited (Registered number: 03876049)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 28,083 40,083
Hire purchase contracts 21,332 4,217
49,415 44,300

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 7,420

Deferred
tax
£   
Balance at 1 February 2023 7,420
Provided during year (7,420 )
Balance at 31 January 2024 -