The Cut Bar Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05787188 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 July 2016

for

The Cut Bar Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

S C Kirkham

N Outzen

REGISTERED OFFICE:

66 The Cut

London

SE1 8LZ

REGISTERED NUMBER:

05787188 (England and Wales)

ACCOUNTANTS:

K Shah & Co

Chartered Certified Accountants

Buckingham House East

Buckingham Parade

Stanmore

Middlesex

HA7 4EB

FIXED ASSETS

Tangible assets

2

16,724

9,501

CURRENT ASSETS

Stocks

29,762

23,650

Debtors

139,114

245,483

Cash at bank and in hand

377,591

476,083

546,467

745,216

CREDITORS

Amounts falling due within one year

363,847

494,443

NET CURRENT ASSETS

182,620

250,773

TOTAL ASSETS LESS CURRENT LIABILITIES

199,344

260,274

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

199,244

260,174

SHAREHOLDERS' FUNDS

199,344

260,274

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 26 April 2017 and were signed on its behalf by:

S C Kirkham - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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

Current tax is provided at amounts expected to be paid (or recovered) using tha tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

211,110

Additions

19,171

At 31 July 2016

230,281

DEPRECIATION

At 1 August 2015

201,609

Charge for year

11,948

At 31 July 2016

213,557

NET BOOK VALUE

At 31 July 2016

16,724

At 31 July 2015

9,501

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.16

31.7.15

value:

£

£

100

Ordinary Shares

1

100

100

4.	RELATED PARTY DISCLOSURES

During the year, total dividends of £64,000 were paid to the directors .