The Cut Bar Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05787188 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2019

for

The Cut Bar Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S C Kirkham

N Outzen

REGISTERED OFFICE:

66 The Cut

London

SE1 8LZ

REGISTERED NUMBER:

05787188 (England and Wales)

ACCOUNTANTS:

Hans Accounting Ltd

Chartered Certified Accountants

Buckingham House East

Buckingham Parade

Stanmore

Middlesex

HA7 4EB

FIXED ASSETS

Tangible assets

4

13,271

12,818

CURRENT ASSETS

Stocks

5

23,604

18,550

Debtors

6

162,645

76,839

Cash at bank and in hand

197,701

270,429

383,950

365,818

CREDITORS

Amounts falling due within one year

7

358,985

338,812

NET CURRENT ASSETS

24,965

27,006

TOTAL ASSETS LESS CURRENT LIABILITIES

38,236

39,824

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

38,136

39,724

SHAREHOLDERS' FUNDS

38,236

39,824

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors and authorised for issue on 29 July 2020 and were signed on its behalf by:

S C Kirkham - Director

1.	STATUTORY INFORMATION

The Cut Bar 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.	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.

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 the cost less estimated residual value of each asset over its estimated useful life.

Fixtures & fittings - 25% on cost

Computer equipment- 33.33% 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.

Deferred taxation

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2018 - 38 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2018

254,083

Additions

10,001

At 31 July 2019

264,084

DEPRECIATION

At 1 August 2018

241,265

Charge for year

9,548

At 31 July 2019

250,813

NET BOOK VALUE

At 31 July 2019

13,271

At 31 July 2018

12,818

5.

STOCKS

31.7.19

31.7.18

£

£

Finished goods

23,604

18,550

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Other debtors

162,645

76,839

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Trade creditors

64,829

118,094

Taxation and social security

93,245

67,194

Other creditors

200,911

153,524

358,985

338,812

8.	RELATED PARTY DISCLOSURES

Included in other debtors is a balance of £33,727 due from The Tricycle Cafe Ltd, a party related to company via

Mr N Outzen who is a common director and shareholder.

As at the year end £44,987 (2018:£11,585) was owed to the company by a director of the company Mr N

Outzen. During the year advances of £33,402 was made to the director.