Acorah Software Products - Accounts Production 16.1.300 false true 30 June 2023 23 June 2022 false 1 July 2023 30 June 2024 30 June 2024 14191438 Mr Joel Skinner Mrs Zoe Fletcher iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14191438 2023-06-30 14191438 2024-06-30 14191438 2023-07-01 2024-06-30 14191438 frs-core:ComputerEquipment 2024-06-30 14191438 frs-core:ComputerEquipment 2023-07-01 2024-06-30 14191438 frs-core:ComputerEquipment 2023-06-30 14191438 frs-core:NetGoodwill 2024-06-30 14191438 frs-core:NetGoodwill 2023-07-01 2024-06-30 14191438 frs-core:NetGoodwill 2023-06-30 14191438 frs-core:ShareCapital 2024-06-30 14191438 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 14191438 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 14191438 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 14191438 frs-bus:SmallEntities 2023-07-01 2024-06-30 14191438 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 14191438 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 14191438 frs-bus:Director1 2023-07-01 2024-06-30 14191438 frs-bus:Director2 2023-07-01 2024-06-30 14191438 frs-countries:EnglandWales 2023-07-01 2024-06-30 14191438 2022-06-22 14191438 2023-06-30 14191438 2022-06-23 2023-06-30 14191438 frs-core:ShareCapital 2023-06-30 14191438 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 14191438
On The Cut Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
James Khan
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 14191438
30 June 2024 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 7,200 9,600
Tangible Assets 5 3,222 4,109
10,422 13,709
CURRENT ASSETS
Cash at bank and in hand 87,163 32,490
87,163 32,490
Creditors: Amounts Falling Due Within One Year (68,076 ) (31,966 )
NET CURRENT ASSETS (LIABILITIES) 19,087 524
TOTAL ASSETS LESS CURRENT LIABILITIES 29,509 14,233
NET ASSETS 29,509 14,233
CAPITAL AND RESERVES
Called up share capital 6 101 101
Profit and Loss Account 29,408 14,132
SHAREHOLDERS' FUNDS 29,509 14,233
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For the year ending 30 June 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Joel Skinner
Director
27/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
On The Cut Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14191438 . The registered office is 132 Coronation Road Southville, Bristol, BS3 1RE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of five years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% Reducing Balance
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 12,000
As at 30 June 2024 12,000
Amortisation
As at 1 July 2023 2,400
Provided during the period 2,400
As at 30 June 2024 4,800
...CONTINUED
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Net Book Value
As at 30 June 2024 7,200
As at 1 July 2023 9,600
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 July 2023 5,479
Additions 643
As at 30 June 2024 6,122
Depreciation
As at 1 July 2023 1,370
Provided during the period 1,530
As at 30 June 2024 2,900
Net Book Value
As at 30 June 2024 3,222
As at 1 July 2023 4,109
6. Share Capital
30 June 2024 30 June 2023
£ £
Allotted, Called up and fully paid 101 101
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