Cutler & Woolf (Steel) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00985842 (England and Wales)

Financial Statements for the Year Ended 31 January 2025

for

Cutler & Woolf (Steel) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S Catlin

REGISTERED OFFICE:

Unit 1b

Focus 4

Fourth Avenue

Letchworth

Hertfordshire

SG6 2TU

REGISTERED NUMBER:

00985842 (England and Wales)

AUDITORS:

GH Audit Limited

Unit 1b

Focus 4

Fourth Avenue

Letchworth

Hertfordshire

SG6 2TU

FIXED ASSETS

Tangible assets

5

91,744

96,101

CURRENT ASSETS

Stocks

671,154

1,046,279

Debtors

6

632,041

382,046

Cash at bank and in hand

25,323

14,212

1,328,518

1,442,537

CREDITORS

Amounts falling due within one year

7

810,458

703,786

NET CURRENT ASSETS

518,060

738,751

TOTAL ASSETS LESS CURRENT
LIABILITIES

609,804

834,852

PROVISIONS FOR LIABILITIES

9

-

18,515

NET ASSETS

609,804

816,337

CAPITAL AND RESERVES

Called up share capital

10

10,000

Retained earnings

599,804

806,337

SHAREHOLDERS' FUNDS

609,804

816,337

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 23 October 2025 and were signed by:

S Catlin - Director

1.	STATUTORY INFORMATION

Cutler & Woolf (Steel) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The company has outstanding amounts owed by the director to the company. The director has assured the company that he has the funds available to repay should it require them.

The accounts have been prepared on a going concern basis on the assumption that the director has the capacity to repay the funds as and when required.

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:

Sale of goods

Turnover from the sale of goods 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.

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.

Hire purchase and leasing commitments

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.

Debtors and creditors repayable/payable under 1 year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 9 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 February 2024

2,316

435,326

437,642

Additions

-

49,291

Disposals

-

(29,500

)

(29,500

)

At 31 January 2025

2,316

455,117

457,433

DEPRECIATION

At 1 February 2024

2,316

339,225

341,541

Charge for year

-

46,256

Eliminated on disposal

-

(22,108

)

(22,108

)

At 31 January 2025

2,316

363,373

365,689

NET BOOK VALUE

At 31 January 2025

-

91,744

At 31 January 2024

-

96,101

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

357,613

145,901

Amounts owed by group undertakings

116,741

90,620

Other debtors

157,687

145,525

632,041

382,046

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

772,499

646,068

Taxation and social security

23,869

13,922

Other creditors

14,090

43,796

810,458

703,786

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

Within one year

56,000

Between one and five years

39,891

95,891

151,891

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

Deferred tax

-

18,515

Deferred

tax

£

Balance at 1 February 2024

18,515

Movement in year

(18,515

)

Balance at 31 January 2025

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

10,000

Ordinary

£1

10,000

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Emma Wilsher FCA (Senior Statutory Auditor)

for and on behalf of GH Audit Limited

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2025 and 31 January 2024:

2025

2024

£

S Catlin

Balance outstanding at start of year

31,228

18,764

Amounts advanced

142,453

62,464

Amounts repaid

(100,000

)

(50,000

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

73,681

31,228

Interest is not being charged on the outstanding balance.

13.	ULTIMATE CONTROLLING PARTY

The controlling party is Cutler & Woolf (Holdings) Limited.

The ultimate controlling party is S Catlin.

The parent company is Cutler & Woolf (Holdings) Limited by virtue of it's 100% share holding of the issued share capital. The registered office of Cutler & Woolf (Holdings) Limited is Unit 1b, Focus Four, Fourth Avenue, Letchworth SG6 2TU.

14.

DEBTORS

At the balance sheet date trade debtors totalled £986,270 against which £569,955 has been advanced from HSBC Invoice Finance (UK) Limited under a non-recourse finance agreement. The debtors with recourse total £92481. The company is responsible for the first £500 of any undisputed and factor-approved debt. The factoring company can seek repayment of the finance, as both capital and interest, only to the extent that sufficient funds are generated by the specific debts it has factored and recourse will not be sought in any other form, except where such debts are unapproved by the factor, or in dispute between the parties, or where there is a breach of the agreement between the company and the factor.