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REGISTERED NUMBER: 14235657 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Cult Classics and Detailing Limited

Cult Classics and Detailing Limited (Registered number: 14235657)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Cult Classics and Detailing Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Mr D Brooks





REGISTERED OFFICE: Northfield House
Shurdington Road
Bentham
Cheltenham
Gloucestershire
GL51 4UA





BUSINESS ADDRESS: Cowfield Mill
Northway Lane
Tewkesbury
Gloucestershire
GL20 8HG





REGISTERED NUMBER: 14235657 (England and Wales)





ACCOUNTANTS: ARC & Co. Accountants Limited
Northfield House
Shurdington Road
Bentham
Cheltenham
Gloucestershire
GL51 4UA

Cult Classics and Detailing Limited (Registered number: 14235657)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,750 -

CURRENT ASSETS
Stocks 5 256,786 168,630
Cash at bank 3,563 9,124
260,349 177,754
CREDITORS
Amounts falling due within one year 6 239,903 144,842
NET CURRENT ASSETS 20,446 32,912
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,196

32,912

CAPITAL AND RESERVES
Called up share capital 7 10 10
Retained earnings 8 36,186 32,902
SHAREHOLDERS' FUNDS 36,196 32,912

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

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

The director acknowledges his 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 director and authorised for issue on 20 December 2024 and were signed by:





Mr D Brooks - Director


Cult Classics and Detailing Limited (Registered number: 14235657)

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

1. STATUTORY INFORMATION

Cult Classics and Detailing 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.
Plant and machinery - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

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

Cult Classics and Detailing Limited (Registered number: 14235657)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
Additions 21,000
At 31 July 2024 21,000
DEPRECIATION
Charge for year 5,250
At 31 July 2024 5,250
NET BOOK VALUE
At 31 July 2024 15,750

5. STOCKS
31.7.24 31.7.23
£    £   
Stocks 256,786 168,630

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Corporation tax 4,113 7,718
VAT 2,465 6,617
Intercompany accounts 180,584 124,162
Directors' current accounts 441 -
Accrued expenses 800 700
Deposits in advance 51,500 5,645
239,903 144,842

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
10 Ordinary £1 £1.00 10 10

8. RESERVES
Retained
earnings
£   

At 1 August 2023 32,902
Profit for the year 33,284
Dividends (30,000 )
At 31 July 2024 36,186

Cult Classics and Detailing Limited (Registered number: 14235657)

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

9. RELATED PARTY DISCLOSURES

During the year the director, Mr D Brooks, made net deposits to his account of £441. This was also the credit balance on his account at 31 July 2024.

10. ULTIMATE CONTROLLING PARTY

SWSI Limited is the ultimate controlling party by virtue of it holding all of the company's issued share capital.