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Company Registration No. 05208838 (England and Wales)
CUTTING IT BARBER SHOP LIMITED Unaudited accounts for the year ended 31 August 2024
CUTTING IT BARBER SHOP LIMITED Unaudited accounts Contents
Page
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CUTTING IT BARBER SHOP LIMITED Company Information for the year ended 31 August 2024
Director
Paul Smith
Secretary
Paul Smith
Company Number
05208838 (England and Wales)
Registered Office
27A EMSCOTE ROAD WARWICK CV34 5QE
Accountants
Accounts and Returns Ltd 26 Smith St Warwick CV34 4HS
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CUTTING IT BARBER SHOP LIMITED Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
632 
843 
Creditors: amounts falling due within one year
(11,476)
(15,202)
Net current liabilities
(11,476)
(15,202)
Total assets less current liabilities
(10,844)
(14,359)
Creditors: amounts falling due after more than one year
(3,328)
(4,954)
Net liabilities
(14,172)
(19,313)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(14,272)
(19,413)
Shareholders' funds
(14,172)
(19,313)
For the year ending 31 August 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 April 2025 and were signed on its behalf by
Paul Smith Director Company Registration No. 05208838
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CUTTING IT BARBER SHOP LIMITED Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
CUTTING IT BARBER SHOP LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05208838. The registered office is 27A EMSCOTE ROAD, WARWICK, CV34 5QE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Going concern
Management have carried out an assessment of going concern which is at least but not limited to 12 months from the date the financial statements are authorised for issue. It is considered that although the company has been affected by Covid-19, management have deemed that company fully intends to continue trading for the foreseeable future.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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CUTTING IT BARBER SHOP LIMITED Notes to the Accounts for the year ended 31 August 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 September 2023
33,301 
At 31 August 2024
33,301 
Depreciation
At 1 September 2023
32,458 
Charge for the year
211 
At 31 August 2024
32,669 
Net book value
At 31 August 2024
632 
At 31 August 2023
843 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
1,979 
2,003 
Trade creditors
984 
1,208 
Taxes and social security
1,255 
- 
Loans from directors
7,258 
11,991 
11,476 
15,202 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Other creditors
3,328 
4,954 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Transactions with related parties
During the year, the company received a loan amounting to £7,258 from a member of key management personnel. The loan is to be repaid on demand and interest-free. At the balance sheet date, the loan was still outstanding and is presented within creditors: amounts falling due within one year.
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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