Cutting Edge Laser Limited,Ltd - Accounts

Cutting Edge Laser Limited,Ltd - Accounts

CUTTING EDGE LASER LIMITED - Company Information

Print Friendly Version

2014-08-01 true false Private Limited Company 08598054 2015-07-31 08598054 2014-08-01 2015-07-31 08598054 2014-07-31 08598054 2013-07-04 2014-07-31 08598054 uk-bus:Director1 2014-08-01 2015-07-31 08598054 uk-gaap:PlantMachinery 2014-08-01 2015-07-31 08598054 uk-gaap:ComputerEquipment 2014-08-01 2015-07-31 08598054 uk-gaap:CommercialMotorVehicles 2014-08-01 2015-07-31 08598054 uk-bus:OrdinaryShareClass1 2015-07-31 iso4217:GBP
Cutting Edge Laser Limited
For the year ended 31 July 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 08598054
2
Contents Page
Cutting Edge Laser Limited
For the year ended 31 July 2015
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
3
Cutting Edge Laser Limited
Accountants' Report
For the year ended 31 July 2015
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the
accounts of Cutting Edge Laser Limited for the year ended 31 July 2015 which comprise the Profit and Loss
Account, the Balance Sheet and the related notes from the company's accounting records and from information
and explanations you have given us.
As a practising firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other
professional requirements which are detailed at http://rulebook.accaglobal.com.
This report is made solely to the Board of Directors of Cutting Edge Laser Limited, as a body, in accordance with
the terms of our engagement letter dated 22 February 2014. Our work has been undertaken solely to prepare for
your approval the accounts of Cutting Edge Laser Limited and state those matters that we have agreed to state to
the Board of Directors of Cutting Edge Laser Limited, as a body, in this report in accordance with the
requirements of the Association of Chartered Certified Accountants and as detailed at
http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume
responsibility to anyone other than Cutting Edge Laser Limited and its Board of Directors as a body for our work or
for this report.
It is your duty to ensure that Cutting Edge Laser Limited has kept adequate accounting records and to prepare
statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Cutting
Edge Laser Limited. You consider that Cutting Edge Laser Limited is exempt from the statutory audit requirement
for the year.
Enterprise Chartered Certified Accountants
8 Castlegate
Tickhill
Doncaster
South Yorkshire
DN11 9QU
1 of 4
4
Abbreviated Balance Sheet
Cutting Edge Laser Limited
As at 31 July 2015
08598054
Registered Number :
£
£
2015
Notes
2014
Fixed assets
Tangible assets
2
382,751
127,464
382,751
127,464
Current assets
Stocks
12,050
12,425
Debtors
251,102
349,749
Cash at bank and in hand
373,968
208,719
736,142
471,871
Creditors: amounts falling due within one year
3
(424,478)
(649,610)
47,393
86,532
Net current assets
Total assets less current liabilities
469,283
174,857
Creditors: amounts falling due after more than one year
4
(66,981)
(263,234)
(68,895)
(25,500)
Provisions for liabilities
137,154
Net assets
82,376
Capital and reserves
Called up share capital
2
5
2
Profit and loss account
137,152
82,374
137,154
82,376
Shareholders funds
For the year ended 31 July 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Date approved by the board: 31 March 2016
Mr D Stones Director
Signed on behalf of the board of directors
2 of 4
5
Notes to the Abbreviated Financial Statements
Cutting Edge Laser Limited
For the year ended 31 July 2015
1 Accounting Policies
Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Dividends
Proposed dividends are only included as liabilities in the financial statements when their payment has been
approved by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery
15% Reducing balance
Computer Equipment
33% Straight line
Motor Vehicles
25% Reducing balance
3 of 4
6
Notes to the Abbreviated Financial Statements
Cutting Edge Laser Limited
For the year ended 31 July 2015
2 Tangible fixed assets
Tangible fixed
assets
Cost or valuation
£
148,905
At 01 August 2014
415,405
Additions
(138,009)
Disposals
At 31 July 2015
426,301
Depreciation
21,441
At 01 August 2014
(28,032)
Disposals
50,141
Charge for year
43,550
At 31 July 2015
Net book values
At 31 July 2015
382,751
127,464
At 31 July 2014
3 Creditors: amounts falling due within one year
Included in other creditors is the company's invoice discounting facility. This facility is secured by a charge in favour of the company's bankers registered 9th October 2013, against trade debtors. The creditor at the year end date was £156,180 (2014: £162,102). Obligations under finance leases and hire purchase contracts are secured on the assets thereunder.
4 Creditors due after more than one year
Obligations under finance leases and hire purchase contracts are secured on the assets thereunder.
5 Share capital
Allotted called up and fully paid
2015
2014
£
£
2 Ordinary shares of £1.00 each
2
2
2
2
4 of 4