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REGISTERED NUMBER: 04598347 (England and Wales)










CUTTING TECHNOLOGIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2024






CUTTING TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04598347)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2024










Page

Balance Sheet 1 to 2

Notes to the Financial Statements 3 to 6


CUTTING TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04598347)

BALANCE SHEET
30TH NOVEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,490,330 1,715,709

CURRENT ASSETS
Stocks 42,704 36,045
Debtors 5 785,913 840,391
Cash at bank 167,317 657,119
995,934 1,533,555
CREDITORS
Amounts falling due within one year 6 1,438,842 1,960,166
NET CURRENT LIABILITIES (442,908 ) (426,611 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,047,422 1,289,098

CREDITORS
Amounts falling due after more than one year 7 (111,276 ) (219,975 )

PROVISIONS FOR LIABILITIES (232,836 ) (232,836 )
NET ASSETS 703,310 836,287

CAPITAL AND RESERVES
Called up share capital 10 50,000 50,000
Capital redemption reserve 10,001 10,001
Retained earnings 643,309 776,286
SHAREHOLDERS' FUNDS 703,310 836,287

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

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

CUTTING TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04598347)

BALANCE SHEET - continued
30TH NOVEMBER 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 13th March 2025 and were signed on its behalf by:




S Neville - Director



L Allen - Director


CUTTING TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04598347)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2024


1. STATUTORY INFORMATION

Cutting Technologies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04598347

Registered office: Units G & H Zenith Park
Whaley Road
Barnsley
S75 1HT

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.

At the time of signing these accounts, having considered the economic climate, the directors' expectations and intentions for the next 12 months, and the availability of working capital, the directors are of the opinion that the company will remain viable for the foreseeable future and accordingly these financial statements have been prepared on the going concern basis.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Turnover from the sale of laser cutting and laser engraving services on metals, wood, plastics and other materials is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:


Plant & machinery10% - 50% Straight line
Fixtures, fittings & equipment10% - 33.33% Straight line

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


CUTTING TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04598347)

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


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

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.

Financial instruments
The company only enters into transactions in 'basic' financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors and creditors, bank balances, loans from banks and other third parties, and loans to related parties. These are recognised in the company's balance sheet when it becomes party to the contractual provisions of the instrument.

Basic financial assets (other than those classified as payable within one year) are initially measured at cost and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses. Basic financial assets classed as receivable within one year are not amortised.

Basic financial liabilities (other than those classified as payable within one year) are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Basic financial liabilities classed as payable within one year are not amortised.

Financial assets and liabilities are offset, with the net amount reported in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 35 ) .

CUTTING TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04598347)

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


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st December 2023
and 30th November 2024 3,008,707
DEPRECIATION
At 1st December 2023 1,292,998
Charge for year 225,379
At 30th November 2024 1,518,377
NET BOOK VALUE
At 30th November 2024 1,490,330
At 30th November 2023 1,715,709

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 670,636 745,597
Other debtors 115,277 94,794
785,913 840,391

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 108,699 108,698
Trade creditors 877,114 881,592
Taxation and social security 138,144 151,573
Other creditors 314,885 818,303
1,438,842 1,960,166

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 111,276 219,975

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 108,699 108,698
Between one and five years 111,276 219,975
219,975 328,673

CUTTING TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04598347)

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


8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 115,872 114,404
Between one and five years 398,264 374,971
In more than five years 38,882 132,201
553,018 621,576

9. SECURED DEBTS

Hire purchase loans totalling £219,975 (2023 - £328,673) are secured against the asset they relate to.

10. CALLED UP SHARE CAPITAL

2023 2022
£    £   
Allotted, called up and fully paid
12,500 Ordinary A Shares shares of £1 each 12,500 12,500
12,500 Ordinary B Shares shares of £1 each 12,500 12,500
12,500 Ordinary C Shares shares of £1 each 12,500 12,500
12,500 Ordinary D Shares shares of £1 each 12,500 12,500
50,000 50,000

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 30th November there was an overdrawn directors loan account of £8,545 (2023 £9,645).