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REGISTERED NUMBER: 03903485 (England and Wales)








Unaudited Financial Statements

for the Year Ended 28 June 2024

for

Creative Cutting Services Limited

Creative Cutting Services Limited (Registered number: 03903485)






Contents of the Financial Statements
for the Year Ended 28 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Creative Cutting Services Limited

Company Information
for the Year Ended 28 June 2024







DIRECTOR: M Wardman



SECRETARY: Mrs J Wardman



REGISTERED OFFICE: Cochranes Wharf
Dockside Road
Middlesbrough
Cleveland
TS3 6AU



REGISTERED NUMBER: 03903485 (England and Wales)



ACCOUNTANTS: Inspire Chartered Accountants
6 Queens Court
Third Avenue
Team Valley
Gateshead
Tyne and Wear
NE11 0BU



BANKERS: HSBC plc
High Street
Stockton on Tees
TS18 1AH

Creative Cutting Services Limited (Registered number: 03903485)

Balance Sheet
28 June 2024

28.6.24 28.6.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 73,998 90,712

CURRENT ASSETS
Stocks 108,514 140,108
Debtors 6 886,374 1,036,520
Cash at bank 22,144 18,906
1,017,032 1,195,534
CREDITORS
Amounts falling due within one year 7 945,853 1,122,473
NET CURRENT ASSETS 71,179 73,061
TOTAL ASSETS LESS CURRENT
LIABILITIES

145,177

163,773

CREDITORS
Amounts falling due after more than one
year

8

(19,882

)

(83,481

)

PROVISIONS FOR LIABILITIES (9,928 ) (9,928 )
NET ASSETS 115,367 70,364

Creative Cutting Services Limited (Registered number: 03903485)

Balance Sheet - continued
28 June 2024

28.6.24 28.6.23
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 3,750 3,750
Capital redemption reserve 1,250 1,250
Retained earnings 110,367 65,364
SHAREHOLDERS' FUNDS 115,367 70,364

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 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.

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 director and authorised for issue on 4 June 2025 and were signed by:





M Wardman - Director


Creative Cutting Services Limited (Registered number: 03903485)

Notes to the Financial Statements
for the Year Ended 28 June 2024

1. STATUTORY INFORMATION

Creative Cutting Services Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

In common with many businesses, the company has been affected by the COVID pandemic, resulting in a reduction in turnover and increased operating costs.

The director has taken advantage of various government support schemes and is confident that the company has sufficient resources to continue to trade into the future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on cost
Motor vehicles - 20% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Creative Cutting Services Limited (Registered number: 03903485)

Notes to the Financial Statements - continued
for the Year Ended 28 June 2024

3. 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 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 obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 9 ) .

Creative Cutting Services Limited (Registered number: 03903485)

Notes to the Financial Statements - continued
for the Year Ended 28 June 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 29 June 2023 387,520
Additions 1,740
Disposals (316 )
At 28 June 2024 388,944
DEPRECIATION
At 29 June 2023 296,808
Charge for year 18,138
At 28 June 2024 314,946
NET BOOK VALUE
At 28 June 2024 73,998
At 28 June 2023 90,712

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 29 June 2023 34,347
Transfer to ownership (34,347 )
At 28 June 2024 -
DEPRECIATION
At 29 June 2023 29,194
Transfer to ownership (29,194 )
At 28 June 2024 -
NET BOOK VALUE
At 28 June 2024 -
At 28 June 2023 5,153

Creative Cutting Services Limited (Registered number: 03903485)

Notes to the Financial Statements - continued
for the Year Ended 28 June 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.6.24 28.6.23
£    £   
Trade debtors 719,176 696,543
Other debtors 167,198 339,977
886,374 1,036,520

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.6.24 28.6.23
£    £   
Bank loans and overdrafts 10,269 10,015
Trade creditors 571,121 754,212
Taxation and social security 48,918 36,785
Other creditors 315,545 321,461
945,853 1,122,473

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
28.6.24 28.6.23
£    £   
Bank loans 9,641 19,910
Other creditors 10,241 63,571
19,882 83,481

9. SECURED DEBTS

The following secured debts are included within creditors:

28.6.24 28.6.23
£    £   
Other loans 99,455 109,806

An amount due in other loans is secured by a charge over trade debts.