Company registration number 07261126 (England and Wales)
CUTTIN EDGE CARPETS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CUTTIN EDGE CARPETS LTD
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
Cuttin Edge Carpets Ltd
CUTTIN EDGE CARPETS LTD
Statement Of Financial Position
as at 30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
8,562
11,191
Current assets
Stocks
64
264
Debtors
6,146
9,037
Cash at bank and in hand
5,944
2,912
12,154
12,213
Creditors: amounts falling due within one year
(16,952)
(15,791)
Net current liabilities
(4,798)
(3,578)
Total assets less current liabilities
3,764
7,613
Creditors: amounts falling due after more than one year
(32,578)
(34,244)
Provisions for liabilities
(2,126)
Net liabilities
(28,814)
(28,757)
Capital and reserves
Called up share capital
4
100
100
Profit and loss reserves
(28,914)
(28,857)
Total equity
(28,814)
(28,757)
Cuttin Edge Carpets Ltd
CUTTIN EDGE CARPETS LTD
Statement Of Financial Position (CONTINUED)
as at 30 September 2024
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 26 June 2025
D Leach
Director
Company Registration No. 07261126
Cuttin Edge Carpets Ltd
CUTTIN EDGE CARPETS LTD
Notes to the financial statements
for the year ended 30 September 2024
- 3 -
1
Accounting policies
Company information
Cuttin Edge Carpets Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1 Ovenden Road, Halifax, West Yorkshire, HX3 5PN.
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the fair value of the consideration receivable for goods and services provided in the normal course of business, and is shown net of VAT.
Turnover is recognised on the provision of service obligation where a right to consideration is due.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% reducing balance basis
Motor vehicles
25% reducing balance basis
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Cuttin Edge Carpets Ltd
CUTTIN EDGE CARPETS LTD
Notes to the financial statements (CONTINUED)
for the year ended 30 September 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
6
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 October 2023 and 30 September 2024
3,551
35,400
38,951
Depreciation and impairment
At 1 October 2023
2,508
25,252
27,760
Depreciation charged in the year
156
2,473
2,629
At 30 September 2024
2,664
27,725
30,389
Carrying amount
At 30 September 2024
887
7,675
8,562
At 30 September 2023
1,043
10,148
11,191
4
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100