Creative Advantage West Midlands Limited Small abridged accounts
Creative Advantage West Midlands Limited Small abridged accounts
Statement of Consent to Prepare Abridged Financial Statements |
COMPANY REGISTRATION NUMBER:
03914725
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107 High Mount Street
Hednesford
Cannock
Staffs
WS12 4BN
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Abridged Financial Statements |
Year ended 31 March 2019
Contents |
Page |
Officers and professional advisers |
1 |
Report to the board of directors on the preparation of the unaudited statutory abridged financial statements |
2 |
Abridged statement of financial position |
3 |
Notes to the abridged financial statements |
5 |
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Officers and Professional Advisers |
The board of directors |
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Registered office |
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West Midlands |
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Accountants |
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107 High Mount Street |
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Hednesford |
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Cannock |
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Staffs |
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WS12 4BN |
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Bankers |
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PO Box 1000 |
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BX2 1LB |
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Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of
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Year ended 31 March 2019
107 High Mount Street
Hednesford
Cannock
Staffs
WS12 4BN
|
Abridged Statement of Financial Position |
2019 |
2018 |
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Note |
£ |
£ |
Fixed assets
Investments |
5 |
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Current assets
Debtors |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Creditors: amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
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Accruals and deferred income |
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Net assets |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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Members funds |
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In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
Directors responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
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Abridged Statement of Financial Position (continued) |
These abridged financial statements were approved by the
board of directors
and authorised for issue on
4 October 2019
, and are signed on behalf of the board by:
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Director |
Director |
Company registration number:
03914725
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Notes to the Abridged Financial Statements |
Year ended 31 March 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O PKF Cooper Parry Group Ltd, One Central Boulevard, Blythe Valley Business Park, Solihull, B90 8BG, West Midlands.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Group relief
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Government grants
Grants received for investment purposes are treated as deferred income and released to the profit and loss account when the investment is realised or provision for permanent diminution in the value of the investment is made. Revenue grants are credited to the profit and loss account as the related expenditure is incurred.
Revenue recognition
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
4.
Staff costs
The average number of persons employed by the company during the year, including the directors, amounted to Nil (2018: Nil).
5.
Investments
£ |
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Cost |
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At 1 April 2018 |
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Additions |
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Disposals |
(
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At 31 March 2019 |
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Impairment |
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At 1 April 2018 |
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Disposals |
(
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At 31 March 2019 |
– |
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Carrying amount |
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At 31 March 2019 |
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At 31 March 2018 |
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6.
Fixed asset investments
Details of investments in which the company has an interest of more than 10% of any class of shares are shown below:
Name of undertaking
Description
%class of
%equity
Shares held
Lighting Reality
Redeemable Ordinary Shares
100%
29%
The above investment is incorporated in England and Wales
The company does not exert significant influence over the operating and financial policies of the above mentioned company, which is therefore not considered to be an associated company.
During the year the company made a purchase of additional shares in the above investee company. The total value of investments (net of provisions) in which the company has an interest of 15% or more as at 31 March 2019 was £28,894 (2018: £24,417)
The directors have reviewed the trading results of the company's investments and have made no further provision in the year under review (2018: £nil) against the cost of investments.
After Date Transactions
On 31 May 2019 the company redeemed its 2000 Redeemable Ordinary Shares in the above investment company reducing the shareholding to 11%
7.
Ultimate parent undertaking and controlling party
The company is a wholly owned subsidiary undertaking of Birmingham Venture Capital Limited
With effect from 22 October 2014, the ultimate parent undertaking and controlling party became Birmingham City Council.
The parent company accounts and the ultimate parent company accounts are available from Companies House, Crown Way, Maindy, Cardiff, CF4 3UZ