CRE8IVE Ltd - Period Ending 2019-09-30

CRE8IVE Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

CRE8IVE Ltd

Company Information

Director

Mr Martin Kenneth Gibson

Registered office

Woodrow 10A Foxhill Close High Wycombe Bucks HP13 5BL

Accountants

Cannon Moorcroft Ltd Chartered Accountants 3 Manor Courtyard Hughenden Avenue High Wycombe Buckinghamshire HP13 5RE

CRE8IVE Ltd

(Registration number: 06045675)
Balance Sheet as at 30 September 2019

	Note	2019 £	2018 £
Fixed assets
Tangible assets	4	428	1,194
Current assets
Debtors	5	37,533	60,154
Cash at bank and in hand		315	-
		37,848	60,154
Creditors: Amounts falling due within one year	6	(38,147)	(57,677)
Net current (liabilities)/assets		(299)	2,477
Net assets		129	3,671
Capital and reserves
Called up share capital	7	100	100
Profit and loss account		29	3,571
Shareholders' funds		129	3,671

For the financial year ending 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 7 August 2020
 

.........................................

Mr Martin Kenneth Gibson
Director

CRE8IVE Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2019

1	General information

The company is a private company limited by share capital, incorporated in England.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

CRE8IVE Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2019

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Ordinary	25% straight line

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2018 - 1).

CRE8IVE Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2019

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 October 2018	5,863	5,863
At 30 September 2019	5,863	5,863
Depreciation
At 1 October 2018	4,669	4,669
Charge for the year	766	766
At 30 September 2019	5,435	5,435
Carrying amount
At 30 September 2019	428	428
At 30 September 2018	1,194	1,194

5

Debtors

	2019 £	2018 £
Other debtors	37,533	60,154
	37,533	60,154

6

Creditors

Creditors: amounts falling due within one year

	2019 £	2018 £
Due within one year
Taxation and social security	37,397	57,392
Accruals and deferred income	750	285
	38,147	57,677

7	Share capital

Allotted, called up and fully paid shares

CRE8IVE Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2019

	2019		2018
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

8	Related party transactions

Directors' remuneration

The director's remuneration for the year was as follows:

	2019 £	2018 £
Remuneration	8,526	8,292

Other transactions with directors

At the end of the year, the director owed the company £37,533. This was repaid within 9 months of the year end through dividends.