| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2025 |
| FOR |
| CUTTER AND SQUIDGE LTD |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2025 |
| FOR |
| CUTTER AND SQUIDGE LTD |
| CUTTER AND SQUIDGE LTD (REGISTERED NUMBER: 08189676) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2025 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| CUTTER AND SQUIDGE LTD (REGISTERED NUMBER: 08189676) |
| BALANCE SHEET |
| 31 AUGUST 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| CUTTER AND SQUIDGE LTD (REGISTERED NUMBER: 08189676) |
| BALANCE SHEET - continued |
| 31 AUGUST 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| CUTTER AND SQUIDGE LTD (REGISTERED NUMBER: 08189676) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2025 |
| 1. | STATUTORY INFORMATION |
| Cutter and Squidge Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2, Amalgamated Drive, West Cross Industrial Park, Brentford, TW8 9EZ. |
| The principal activity of the company continued to be that of multichannel bakery gifting retailer with product lines that include innovative baked goods, in house beverages and afternoon tea sold under the Cutter and Squidge brand. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The company operates as the group’s principal trading and treasury entity. Intercompany balances arise from routine trading activities and cash movements and are considered recoverable, given the company’s sustained profitability and its role as the group’s central funding entity. |
| Turnover |
| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company, and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised. |
| Sale of goods |
| Revenue from the sale of goods is recognised when all of the following conditions are satisfied: |
| - the Company has transferred the significant risks and rewards of ownership to the buyer; |
| - the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; |
| - the amount of revenue can be measured reliably; |
| - it is probable that the Company will receive the consideration due under the transaction; and |
| - the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Website development is being amortised evenly over its useful life of 5 years. |
| Tangible fixed assets |
| Leasehold improvements are being depreciated evenly over its useful life of 5 years. |
| Plant and machinery is being depreciated evenly over its useful life of 20 years. |
| Fixtures and fittings is being depreciated evenly over its useful life of 3 years. |
| Computer equipment is being depreciated evenly over its useful life of 5 years. |
| Cutting equipment is being depreciated evenly over its useful life of 4 years. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| CUTTER AND SQUIDGE LTD (REGISTERED NUMBER: 08189676) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Tax is recognised in the Statement of income and retained earnings. |
| The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income. |
| Leases |
| Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed. |
| 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 |
| Short term debtors are measured at transaction price, less impairment. |
| Cash and cash equivalents |
| Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. |
| Creditors |
| Short term creditors are measured at transaction price. |
| Financial instruments |
| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
| Financial assets and liabilities are offset, with the net amounts presented 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. |
| Gift card |
| The company issues gift cards to customers through both sales and goodwill gifts. These gift cards can be redeemed for future purchases of goods. Revenue from sold gift cards is initially deferred and recorded as a liability. When a gift card is issued in connection with a sale, such as a goodwill gift the associated value is also deferred and treated as a liability. This liability is measured based on estimated redemption rates, which are derived from historical redemption patterns. The liability is recognised as revenue in the profit and loss account when the gift card is redeemed by the customer. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| CUTTER AND SQUIDGE LTD (REGISTERED NUMBER: 08189676) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2025 |
| 4. | INTANGIBLE FIXED ASSETS |
| Website |
| development |
| £ |
| Cost |
| At 1 September 2024 |
| Additions |
| At 31 August 2025 |
| Amortisation |
| At 1 September 2024 |
| Amortisation for year |
| At 31 August 2025 |
| Net book value |
| At 31 August 2025 |
| At 31 August 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Leasehold | Plant and | and |
| improvements | machinery | fittings |
| £ | £ | £ |
| Cost |
| At 1 September 2024 |
| Additions |
| Disposals |
| At 31 August 2025 |
| Depreciation |
| At 1 September 2024 |
| Charge for year |
| Eliminated on disposal |
| At 31 August 2025 |
| Net book value |
| At 31 August 2025 |
| At 31 August 2024 |
| CUTTER AND SQUIDGE LTD (REGISTERED NUMBER: 08189676) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2025 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Computer | Cutting |
| equipment | equipment | Totals |
| £ | £ | £ |
| Cost |
| At 1 September 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 August 2025 |
| Depreciation |
| At 1 September 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 August 2025 |
| Net book value |
| At 31 August 2025 |
| At 31 August 2024 |
| 6. | STOCKS |
| 2025 | 2024 |
| £ | £ |
| Stocks |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Directors' loan accounts | 177 | 2,181 |
| VAT |
| Prepayments |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Directors' loan accounts | 222,716 | 265,215 |
| Accruals and deferred income |
| Accrued expenses |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other creditors |
| CUTTER AND SQUIDGE LTD (REGISTERED NUMBER: 08189676) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2025 |
| 10. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | 1 | 100 | 100 |
| 12. | RELATED PARTY TRANSACTIONS |
| The company has taken advantage of the exemption in FRS 102 and has not disclosed transactions with entities within its group. |
| At the year-end £1,604,932 (2024: £1,425,549) was due to the company from AE Bakery Limited, a fellow subsidiary. This balance is included within the amounts owed by group undertakings. |
| At the year-end £761,134 (2024: £787,489) was due to the company from AE Bakery Holdings Limited, the ultimate parent company. This balance is included within the amounts owed by group undertakings. |
| At the year-end £222,539 (2024: £274,534) was owed to Directors. |