Creative Hire Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07462400 (England and Wales)

Financial Statements for the Year Ended 31 December 2019

for

Creative Hire Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W Britton

A J Aston

REGISTERED OFFICE:

Units 1-2 Arley Industrial Estate

Colliers Way

Arley

Coventry

CV7 8HN

REGISTERED NUMBER:

07462400 (England and Wales)

ACCOUNTANTS:

Primary Numbers Limited

Chartered Certified Accountants

Unit 1 Trident Business Park

Holman Way

Nuneaton

Warwickshire

CV11 4PN

FIXED ASSETS

Tangible assets

4

1,110,267

1,067,591

CURRENT ASSETS

Debtors

5

2,173,104

1,621,690

Cash at bank

247,763

47,408

2,420,867

1,669,098

CREDITORS

Amounts falling due within one year

6

1,667,000

996,500

NET CURRENT ASSETS

753,867

672,598

TOTAL ASSETS LESS CURRENT LIABILITIES

1,864,134

1,740,189

CREDITORS

Amounts falling due after more than one year

7

(24,920

)

-

PROVISIONS FOR LIABILITIES

(43,507

)

(43,507

)

NET ASSETS

1,795,707

1,696,682

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,795,705

1,696,680

SHAREHOLDERS' FUNDS

1,795,707

1,696,682

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2020 and were signed on its behalf by:

W Britton - Director

1.	STATUTORY INFORMATION

Creative Hire Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2018 - 62 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2019

254,360

1,314,469

21,075

64,538

1,654,442

Additions

74,631

134,526

8,551

-

217,708

At 31 December 2019

328,991

1,448,995

29,626

64,538

1,872,150

DEPRECIATION

At 1 January 2019

27,236

511,300

7,427

40,888

586,851

Charge for year

25,236

141,736

3,330

4,730

175,032

At 31 December 2019

52,472

653,036

10,757

45,618

761,883

NET BOOK VALUE

At 31 December 2019

276,519

795,959

18,869

18,920

1,110,267

At 31 December 2018

227,124

803,169

13,648

23,650

1,067,591

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

354,400

57,232

Other debtors

1,818,704

1,564,458

2,173,104

1,621,690

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Bank loans and overdrafts

31,307

-

Trade creditors

540,763

210,042

Taxation and social security

594,573

465,106

Other creditors

500,357

321,352

1,667,000

996,500

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.19

31.12.18

£

£

Bank loans

24,920

-

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2019 and 31 December 2018:

31.12.19

31.12.18

£

£

W Britton

Balance outstanding at start of year

177,376

45,207

Amounts advanced

123,779

173,588

Amounts repaid

(121,094

)

(41,419

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

180,061

177,376

A J Aston

Balance outstanding at start of year

-

-

Amounts advanced

66,000

-

Amounts repaid

(66,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors.