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REGISTERED NUMBER: 06270126 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024

FOR

CULTIVATE IT LTD

CULTIVATE IT LTD (REGISTERED NUMBER: 06270126)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30th June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CULTIVATE IT LTD

COMPANY INFORMATION
for the Year Ended 30th June 2024







DIRECTOR: D W Holland





REGISTERED OFFICE: Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX





REGISTERED NUMBER: 06270126 (England and Wales)





ACCOUNTANTS: Stephenson Nuttall & Co
Chartered Accountants
Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX

CULTIVATE IT LTD (REGISTERED NUMBER: 06270126)

BALANCE SHEET
30th June 2024

30/6/24 30/6/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 283 378
283 378

CURRENT ASSETS
Debtors 6 30,243 20,553
Cash at bank - 1,752
30,243 22,305
CREDITORS
Amounts falling due within one year 7 30,157 22,325
NET CURRENT ASSETS/(LIABILITIES) 86 (20 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

369

358

PROVISIONS FOR LIABILITIES 8 54 72
NET ASSETS 315 286

CAPITAL AND RESERVES
Called up share capital 9 250 250
Retained earnings 65 36
SHAREHOLDERS' FUNDS 315 286

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

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

CULTIVATE IT LTD (REGISTERED NUMBER: 06270126)

BALANCE SHEET - continued
30th June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18th March 2025 and were signed by:





D W Holland - Director


CULTIVATE IT LTD (REGISTERED NUMBER: 06270126)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30th June 2024

1. STATUTORY INFORMATION

Cultivate IT Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, 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.
Technical equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

CULTIVATE IT LTD (REGISTERED NUMBER: 06270126)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th June 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st July 2023
and 30th June 2024 3,500
AMORTISATION
At 1st July 2023
and 30th June 2024 3,500
NET BOOK VALUE
At 30th June 2024 -
At 30th June 2023 -

5. TANGIBLE FIXED ASSETS
Technical
equipment
£   
COST
At 1st July 2023
and 30th June 2024 8,007
DEPRECIATION
At 1st July 2023 7,629
Charge for year 95
At 30th June 2024 7,724
NET BOOK VALUE
At 30th June 2024 283
At 30th June 2023 378

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Trade debtors 21,940 15,101
Directors' current accounts 5,783 3,481
Tax 1,881 1,104
Prepayments 639 867
30,243 20,553

CULTIVATE IT LTD (REGISTERED NUMBER: 06270126)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Bank loans and overdrafts 324 -
Trade creditors 14,657 7,506
Tax 5,939 6,227
Social security and other taxes 8,004 7,939
Other creditors 200 200
Accrued expenses 1,033 453
30,157 22,325

8. PROVISIONS FOR LIABILITIES
30/6/24 30/6/23
£    £   
Deferred tax 54 72

Deferred
tax
£   
Balance at 1st July 2023 72
Provided during year (18 )
Balance at 30th June 2024 54

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/6/24 30/6/23
value: £    £   
250 Ordinary £1 250 250

10. ULTIMATE CONTROLLING PARTY

Mr D W Holland and Mrs G Holland together own 100% of the issued share capital of the company.