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Abbreviated Unaudited Accounts for the Year Ended 31 December 2014 |
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New Cut Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts for the Year Ended 31 December 2014 |
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New Cut Limited |
New Cut Limited (Registered number: 06594764) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 December 2014 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
New Cut Limited |
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Company Information |
for the Year Ended 31 December 2014 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
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New Cut Limited (Registered number: 06594764) |
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Abbreviated Balance Sheet |
31 December 2014 |
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31.12.14 | 31.12.13 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 2 |
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Investment property | 3 |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Revaluation reserve |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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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. |
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The financial statements were approved by the director on
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New Cut Limited (Registered number: 06594764) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 December 2014 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The financial statements have been prepared on the going concern basis for the following reason. The director |
has invested such funds into the company in order to acquire the entire issued share capital of Sterling Tools |
Limited and to acquire freehold property. The director will continue to make such funds available to the |
company as are necessary to ensure the company can meet debts as they fall due and will not seek repayment of |
the amounts currently made available until the company has sufficient cash to do so. |
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Accounting convention |
The financial statements have been prepared under the historical cost convention as modified by the revaluation |
of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April |
2008). |
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Preparation of consolidated financial statements |
The financial statements contain information about New Cut Limited as an individual company and do not |
contain consolidated financial information as the parent of a group. The company has taken the option under |
Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 8 Related |
Party Disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover represents rental income arising in the period. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
market value is transferred to a revaluation reserve. |
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The application of Statement of Standard Accounting Practice 19 in respect of investment property is a |
departurefrom the specific requirement of the law to provide depreciation on any fixed asset which has a limited |
economic life. The departure is necessary in order to give a true and fair view. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Fixed asset investments |
Fixed asset investments are stated at historical cost inclusive of professional fees, less impairment provisions. |
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2. | FIXED ASSET INVESTMENTS |
Investments |
other |
than |
loans |
£ |
COST |
At 1 January 2014 |
and 31 December 2014 |
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NET BOOK VALUE |
At 31 December 2014 |
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At 31 December 2013 |
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New Cut Limited (Registered number: 06594764) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 December 2014 |
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2. | FIXED ASSET INVESTMENTS - continued |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Nature of business:
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Class of shares: | holding |
Ordinary |
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£ | £ |
Aggregate capital and reserves | 244,970 | 180,553 |
Profit for the year | 64,418 | 42,591 |
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3. | INVESTMENT PROPERTY |
Total |
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COST OR VALUATION |
At 1 January 2014 |
and 31 December 2014 |
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NET BOOK VALUE |
At 31 December 2014 |
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At 31 December 2013 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.14 | 31.12.13 |
value: | £ | £ |
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Ordinary | £1 |
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