NU Creative Ltd - Filleted accounts

NU Creative Ltd - Filleted accounts

NU CREATIVE LTD - Company Information

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Registered number
05214335
NU Creative Ltd
Filleted Accounts
31 August 2020
NU Creative Ltd
Registered number: 05214335
Balance Sheet
as at 31 August 2020
Notes 2020 2019
£ £
Fixed assets
Tangible assets 3 1,121 -
Current assets
Debtors 4 173,417 257,146
Cash at bank and in hand 382,276 389,035
555,693 646,181
Creditors: amounts falling due within one year 5 (99,886) (180,823)
Net current assets 455,807 465,358
Net assets 456,928 465,358
Capital and reserves
Called up share capital 100 100
Profit and loss account 456,828 465,258
Shareholders' funds 456,928 465,358
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Tim Lindsay
Director
Approved by the board on 27 May 2021
NU Creative Ltd
Notes to the Accounts
for the year ended 31 August 2020
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computers and software over 3 years
Furniture and equipment over 3 years
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2020 2019
Number Number
Average number of persons employed by the company 18 18
3 Tangible fixed assets
Computers and software Furniture and equipment Total
£ £ £
Cost
At 1 September 2019 22,554 1,105 23,659
Additions 1,681 - 1,681
At 31 August 2020 24,235 1,105 25,340
Depreciation
At 1 September 2019 22,554 1,105 23,659
Charge for the year 560 - 560
At 31 August 2020 23,114 1,105 24,219
Net book value
At 31 August 2020 1,121 - 1,121
4 Debtors 2020 2019
£ £
Trade debtors 150,994 256,982
Other debtors 22,423 164
173,417 257,146
5 Creditors: amounts falling due within one year 2020 2019
£ £
Bank loans and overdrafts - 850
Trade creditors 17,546 57,254
Taxation and social security costs 52,278 119,065
Other creditors 30,062 3,654
99,886 180,823
6 Related party transactions
At the year end £291 was owed to Tim Lindsay on his loan account and £351 owed by Sarah Kloosman. These amounts are included in other creditors and other debtors respectively.
7 Controlling party
The directors, Tim Lindsay and Sarah Kloosman, each own 50% of the share capital of the company and as such are the ultimate controlling parties.
8 Other information
NU Creative Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit A103
The Biscuit Factory
100 Drummond Rd
SE16 4DG
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