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COMPANY REGISTRATION NUMBER: 06888099
David Cuff Limited
Filleted Unaudited Financial Statements
30 April 2024
David Cuff Limited
Financial Statements
Year ended 30 April 2024
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
David Cuff Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
188,193
35,000
Current assets
Stocks
28,497
Debtors
6
100,669
31,483
Cash at bank and in hand
1,151
3,276
---------
--------
130,317
34,759
Creditors: amounts falling due within one year
7
284,839
28,873
---------
--------
Net current (liabilities)/assets
( 154,522)
5,886
---------
--------
Total assets less current liabilities
33,671
40,886
Creditors: amounts falling due after more than one year
8
26,034
28,667
--------
--------
Net assets
7,637
12,219
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
7,537
12,119
-------
--------
Shareholders funds
7,637
12,219
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
David Cuff Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 21 January 2025 , and are signed on behalf of the board by:
D C Cuff
Director
Company registration number: 06888099
David Cuff Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Hampstead West, 224 Iverson Road, London, NW6 2HX, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of people employed by the company during the year was 1 (2023: 1), being the director.
5. Tangible assets
Freehold property
Long leasehold property
Total
£
£
£
Cost
At 1 May 2023
35,000
35,000
Additions
153,193
153,193
--------
---------
---------
At 30 April 2024
35,000
153,193
188,193
--------
---------
---------
Depreciation
At 1 May 2023 and 30 April 2024
--------
---------
---------
Carrying amount
At 30 April 2024
35,000
153,193
188,193
--------
---------
---------
At 30 April 2023
35,000
35,000
--------
---------
---------
The director has determined that the fair value of the investment property at the year end was £188,193. The fair value of the property is not based on an independent valuation.
6. Debtors
2024
2023
£
£
Other debtors
100,669
31,483
---------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
74,654
5,608
Trade creditors
332
Corporation tax
2,390
Other creditors
209,853
20,875
---------
--------
284,839
28,873
---------
--------
Bank loans and overdrafts are secured by way of a fixed and floating charge over the property and undertakings of the company.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
26,034
28,667
--------
--------
Bank loans and overdrafts are secured by way of a fixed and floating charge over the property and undertakings of the company.
9. Director's advances, credits and guarantees
At the year end, the director owed the company £95,029 (2023: £29,989). Advances of £72,250 (2023: £40,000) were taken and repayments of £7,211 (2023: £53,161) were made by the director during the year. No interest was charged on the overdrawn balance.