ACCOUNTS - Final Accounts preparation

AEVITAS CREATIVE MANAGEMENT UK LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31truefalsefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.3No description of principal activity2021-01-014 12111735 2021-01-01 2021-12-31 12111735 2019-07-19 2020-12-31 12111735 2021-12-31 12111735 2020-12-31 12111735 c:Director2 2021-01-01 2021-12-31 12111735 d:CurrentFinancialInstruments 2021-12-31 12111735 d:CurrentFinancialInstruments 2020-12-31 12111735 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 12111735 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 12111735 d:ShareCapital 2021-12-31 12111735 d:ShareCapital 2020-12-31 12111735 d:RetainedEarningsAccumulatedLosses 2021-12-31 12111735 d:RetainedEarningsAccumulatedLosses 2020-12-31 12111735 c:OrdinaryShareClass1 2021-01-01 2021-12-31 12111735 c:OrdinaryShareClass1 2021-12-31 12111735 c:OrdinaryShareClass2 2021-01-01 2021-12-31 12111735 c:OrdinaryShareClass2 2021-12-31 12111735 c:FRS102 2021-01-01 2021-12-31 12111735 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 12111735 c:FullAccounts 2021-01-01 2021-12-31 12111735 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 12111735 2 2021-01-01 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12111735

AEVITAS CREATIVE MANAGEMENT UK LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021


AEVITAS CREATIVE MANAGEMENT UK LIMITED

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 4


AEVITAS CREATIVE MANAGEMENT UK LIMITED REGISTERED NUMBER:12111735

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2021

	2021	2020
Note	£	£


Current assets
Debtors: amounts falling due within one year	4	47,187	36,580
Cash at bank and in hand		19,857	34,871
		67,044	71,451
Current liabilities
Creditors: amounts falling due within one year	5	(27,928)	(58,210)

Net assets		39,116	13,241

Capital and reserves
Called up share capital	6	100	100
Profit and loss account		39,016	13,141
		39,116	13,241

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 August 2022.

J T Mundy

Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1


AEVITAS CREATIVE MANAGEMENT UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1.	General information

The company's legal form is that of a limited company incorporated in the United Kingdom. The Company's registered office is 2nd Floor, Connaught House, 1-3 Mount Street, (Entrance Via Davies Street), London, United Kingdom, W1K 3NB.
The principal activity of the company is that of a talent management company, specialising in consultancy and representing authors and speakers.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The directors have considered the impact of recent worldwide events in relation to the Covid-19 pandemic and potential impact on the company's operations and, based on their current assessment of the situation and available financial resources, consider it appropriate to prepare the financial statements on a going concern basis.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ Sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.4

Revenue

Revenue comprises fees and commissions receivable in respect of services supplied during the year, exclusive of Value Added Tax.
Revenue is recognised in the period in which it is earned.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 2


AEVITAS CREATIVE MANAGEMENT UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

2.8

Debtors

The company holds funds on behalf of clients in the ordinary course of business. These funds are held in separate client bank accounts which do not form part of these financial statements. At 31 December 2021 the balance of funds held on behalf of clients amounted to £25,172.

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.11

Financial instruments

The company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand. Trade debtors and other debtors are recognised initially at the transaction price less attributable transaction costs. Trade creditors and other creditors are recognised initially at transaction price plus attributable transaction costs.

Employees

The average monthly number of employees, including directors, during the year was 4 (2020 - 3).

Debtors

					2021	2020
					£	£


Trade debtors	2,128	669
Other debtors	41,603	32,139

Page 3


AEVITAS CREATIVE MANAGEMENT UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

4.Debtors (continued)

Prepayments and accrued income	3,456	3,772
	47,187	36,580

5.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Trade creditors	3,944	802
Taxation and social security	12,199	3,263
Other creditors	9,035	11,944
Accruals and deferred income	2,750	42,201
	27,928	58,210

6.	Share capital
		2021	2020
		£	£

Allotted, called up and fully paid

66 Ordinary A shares of £1.00 each	66	66
34 Ordinary B shares of £1.00 each	34	34

	100	100

7.	Transactions with directors

At the balance sheet date the company was owed £40,843 by the director of the company.The maximum amount outstanding during the year was £84,848. Interest has been charged at the official HMRC rate on the overdue balance.

8.	Controlling party

The company is a subsidiary of Aevitas Creative Management, LLC, a limited liability company registered
in New York, USA, which the directors regard as the ultimate parent undertaking.

Page 4