REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE PERIOD 8 APRIL 2024 TO 31 MARCH 2025 |
FOR |
Autocut Ltd |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE PERIOD 8 APRIL 2024 TO 31 MARCH 2025 |
FOR |
Autocut Ltd |
Autocut Ltd (Registered number: 15627359) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 8 April 2024 to 31 March 2025 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
Autocut Ltd |
COMPANY INFORMATION |
for the period 8 April 2024 to 31 March 2025 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
129 North Hill |
Plymouth |
Devon |
PL4 8JY |
Autocut Ltd (Registered number: 15627359) |
BALANCE SHEET |
31 March 2025 |
Notes | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 8 |
Capital redemption reserve |
Retained earnings |
Shareholders' funds |
Autocut Ltd (Registered number: 15627359) |
BALANCE SHEET - continued |
31 March 2025 |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Autocut Ltd (Registered number: 15627359) |
NOTES TO THE FINANCIAL STATEMENTS |
for the period 8 April 2024 to 31 March 2025 |
1. | STATUTORY INFORMATION |
Autocut Ltd is a |
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" and the Companies Act 2006. The disclosure requirements of Section 1A have been applied other than where additional disclosure is required to give a true and fair view. The financial statements have been prepared under the historical cost convention unless otherwise stated. |
Goodwill |
Goodwill arises on acquisition of an entity and represents the cost of the acquisition in excess of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is subject to annual impairment review. |
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 |
Plant, equipment and motor vehicles were acquired shortly before the year end and will be depreciated from 1st April 2025 at the directors chosen policy in order to match the expected useful economic life. |
Stocks |
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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. |
Autocut Ltd (Registered number: 15627359) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 8 April 2024 to 31 March 2025 |
2. | ACCOUNTING POLICIES - continued |
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 period 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. |
Turnover |
Turnover is measured at the fair value of consideration receivable for goods and services net of taxes. Turnover arising from the sale of goods is recognised when the risks and rewards of ownership have been transferred to the buyer; and from services by reference to the sage of completion of the associated contract. |
Debtors |
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
Creditors |
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
Provisions |
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
Autocut Ltd (Registered number: 15627359) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 8 April 2024 to 31 March 2025 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
Cost |
Additions |
Disposals | ( |
) |
Impairments | (1,350,000 | ) |
At 31 March 2025 |
Net book value |
At 31 March 2025 |
5. | TANGIBLE FIXED ASSETS |
Plant and | Motor |
equipment | vehicles | Totals |
£ | £ | £ |
Cost |
Additions |
At 31 March 2025 |
Net book value |
At 31 March 2025 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
Other debtors represents deposits paid on vehicles ordered |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary A | £1 | 50 |
Autocut Ltd (Registered number: 15627359) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 8 April 2024 to 31 March 2025 |
8. | CALLED UP SHARE CAPITAL - continued |
The movement in share capital for the period is as below: |
Ordinary | Ordinary A | Ordinary B |
Opening | - | - | - |
Issued | 1 | 49 | 50 |
Redesignated | (1 | ) | 1 | - |
Redeemed | - | - | (50 | ) |
----------------- | -------------------- | ------------------ |
Closing | - | 50 | - |
========== | ============ | ========== |
9. | MERGER RESERVE MOVEMENT |
Merger |
reserve |
£ |
Share issue | 1,699,901 |
Redemption of share capital | (350,000 | ) |
Reserve release on impairment | (1,349,901 | ) |
At 31 March 2025 |
10. | RELATED PARTY DISCLOSURES |
At the balance sheet date, the company owes £15,000 to Greenkeepers Lawn Care Ltd, a company ultimately owned and controlled by the two directors, O Etoe and L Bateman. |
11. | ULTIMATE CONTROLLING PARTY |
The company is ultimately controlled by the directors. |