REGISTERED NUMBER: 00739777 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Cutlery And Allied Trades Research

Association

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTOR:

D J Greensmith

REGISTERED OFFICE:

Henry Street

Sheffield

S3 7EQ

REGISTERED NUMBER:

00739777 (England and Wales)

ACCOUNTANTS:

Heather Lea Business Services

49 Heather Lea Avenue

Sheffield

S17 3DL

SOLICITORS:

Wake Smith LLP

No 1 Velocity

2 Tenter Street

Sheffield

S1 4BY

FIXED ASSETS

Tangible assets

4

489,131

522,220

CURRENT ASSETS

Stocks

227,852

159,972

Debtors

5

25,746

27,550

Cash at bank and in hand

218,918

154,694

472,516

342,216

CREDITORS

Amounts falling due within one year

6

148,171

140,582

NET CURRENT ASSETS

324,345

201,634

TOTAL ASSETS LESS CURRENT LIABILITIES

813,476

723,854

CREDITORS

Amounts falling due after more than one year

7

(17,743

)

(68,845

)

PROVISIONS FOR LIABILITIES

(60,487

)

(21,156

)

NET ASSETS

735,246

633,853

RESERVES

Revaluation reserve

9

348,951

351,797

Income and expenditure account

9

386,295

282,056

735,246

633,853

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 surplus or deficit 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 30 September 2025 and were signed by:

D J Greensmith - Director

1.	STATUTORY INFORMATION

Cutlery And Allied Trades Research Association is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

The company is a private company limited by guarantee and consequently does not have a share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing their annual financial statements.

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.

Freehold property

-

in accordance with the property

Plant and machinery

-

25% on reducing balance and 20% on cost

Fixtures and fittings

-

25% on reducing balance

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.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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 surplus or deficit over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to surplus or deficit 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST OR VALUATION

At 1 January 2024

500,000

513,916

79,426

1,093,342

Additions

-

-

966

966

At 31 December 2024

500,000

513,916

80,392

1,094,308

DEPRECIATION

At 1 January 2024

45,535

456,641

68,946

571,122

Charge for year

11,384

19,809

2,862

34,055

At 31 December 2024

56,919

476,450

71,808

605,177

NET BOOK VALUE

At 31 December 2024

443,081

37,466

8,584

489,131

At 31 December 2023

454,465

57,275

10,480

522,220

Included in cost or valuation of land and buildings is freehold land of £ 44,645 (2023 - £ 44,645 ) which is not depreciated.

Cost or valuation at 31 December 2024 is represented by:

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

Valuation in 1998

116,124

-

-

116,124

Valuation in 2019

332,044

-

-

332,044

Cost

51,832

513,916

80,392

646,140

500,000

513,916

80,392

1,094,308

If freehold property had not been revalued it would have been included at the following historical cost:

31.12.24

31.12.23

£

£

Cost

51,832

51,832

Aggregate depreciation

28,834

26,242

Freehold property was valued on an open market basis on 31 December 2019 by the directors .

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

Plant and

machinery

£

COST OR VALUATION

At 1 January 2024

and 31 December 2024

62,745

DEPRECIATION

At 1 January 2024

34,510

Charge for year

12,549

At 31 December 2024

47,059

NET BOOK VALUE

At 31 December 2024

15,686

At 31 December 2023

28,235

FRS102 requires that the right to use an asset held under a finance lease is recognised in the financial statements as an asset, and a liability is recognised to represent the present value of the minimum lease payments.The directors wish to point out that they disagree with this treatment. In their opinion, the asset should not be included an the balance sheet, as it is not owned by the company and is only rented.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

13,176

23,152

Other debtors

12,570

4,398

25,746

27,550

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

38,986

38,006

Finance leases

14,738

13,438

Payments on account

48,459

13,077

Trade creditors

32,305

63,955

Taxation and social security

9,214

8,473

Other creditors

4,469

3,633

148,171

140,582

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

15,151

51,515

Finance leases

2,592

17,330

17,743

68,845

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Finance Leases

17,330

30,768

The Coronavirus Business Interruption Loan Scheme is not secured and is guaranteed by the UK government.

9.

RESERVES

Income

and

expenditure

Revaluation

account

reserve

Totals

£

£

£

At 1 January 2024

282,056

351,797

633,853

Surplus for the year

101,393

101,393

Transfer excess depreciation

on revalued assets

2,846

(2,846

)

-

At 31 December 2024

386,295

348,951

735,246

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cutlery And Allied Trades Research Association for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Cutlery And Allied Trades Research Association in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cutlery And Allied Trades Research Association and state those matters that we have agreed to state to the director of Cutlery And Allied Trades Research Association in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cutlery And Allied Trades Research Association and its director for our work or for this report.

It is your duty to ensure that Cutlery And Allied Trades Research Association has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cutlery And Allied Trades Research Association. You consider that Cutlery And Allied Trades Research Association is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cutlery And Allied Trades Research Association. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Heather Lea Business Services

49 Heather Lea Avenue

Sheffield

S17 3DL

30 September 2025