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REGISTERED NUMBER: SC297238 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

FINECUT EDITING LIMITED

FINECUT EDITING LIMITED (REGISTERED NUMBER: SC297238)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FINECUT EDITING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Michelle Reece
Paul Derek Reece



SECRETARY: Paul Derek Reece



REGISTERED OFFICE: 24 Beresford Terrace
Ayr
KA7 2EG



REGISTERED NUMBER: SC297238 (Scotland)



ACCOUNTANTS: Stewart Gilmour & Co.
3rd Floor
St George's Buildings
5 St Vincent Place
Glasgow
G1 2DH



BANKERS: Lloyds TSB Scotland plc
52 - 60 St Vincent Street
Glasgow
G2 5TU

FINECUT EDITING LIMITED (REGISTERED NUMBER: SC297238)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,767 2,553
1,767 2,553

CURRENT ASSETS
Cash at bank 6,049 566

CREDITORS
Amounts falling due within one year 6 20,538 10,999
NET CURRENT LIABILITIES (14,489 ) (10,433 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(12,722

)

(7,880

)

PROVISIONS FOR LIABILITIES 336 485
NET LIABILITIES (13,058 ) (8,365 )

CAPITAL AND RESERVES
Called up share capital 7 110 110
Retained earnings (13,168 ) (8,475 )
SHAREHOLDERS' FUNDS (13,058 ) (8,365 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

FINECUT EDITING LIMITED (REGISTERED NUMBER: SC297238)

BALANCE SHEET - continued
30 APRIL 2024


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 17 January 2025 and were signed on its behalf by:





Michelle Reece - Director


FINECUT EDITING LIMITED (REGISTERED NUMBER: SC297238)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Finecut Editing Limited is a private company, limited by shares , registered in Scotland. 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 represents gross invoiced sales of goods and services, excluding irrecoverable Value Added Tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and equipment - 20% on cost
Computer equipment - 20% on cost

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 1 (2023 - 2 ) .

FINECUT EDITING LIMITED (REGISTERED NUMBER: SC297238)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 30,000
AMORTISATION
At 1 May 2023
and 30 April 2024 30,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
equipment equipment Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 582 8,795 9,377
DEPRECIATION
At 1 May 2023 453 6,371 6,824
Charge for year 43 743 786
At 30 April 2024 496 7,114 7,610
NET BOOK VALUE
At 30 April 2024 86 1,681 1,767
At 30 April 2023 129 2,424 2,553

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 17,117 8,275
Other creditors 3,421 2,724
20,538 10,999

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
10 Ordinary 'A' to 'J' £1 10 10
110 110

FINECUT EDITING LIMITED (REGISTERED NUMBER: SC297238)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. ULTIMATE CONTROLLING PARTY

The controlling party is Michelle Reece.