Creative Advantage West Midlands Limited
Creative Advantage West Midlands Limited
Registered number: 03914725
Unaudited Financial Statements
For The Year Ended
31 March 2023
AS Ventures Limited
107 High Mount St
Hednesford
Cannock
Staffs
WS12 4BN
Creative Advantage West Midlands Limited
Unaudited Financial Statements
For The Year Ended
31 March 2023
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Page 1
Creative Advantage West Midlands Limited
Balance Sheet
As at
31 March 2023
Balance Sheet
Registered number:
03914725
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Investments | 4 |
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| CURRENT ASSETS | |||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 7 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 152,304 | 152,077 | |||
Page 1
Page 2
Creative Advantage West Midlands Limited
Balance Sheet (continued)
As at
31 March 2023
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Creative Advantage West Midlands Limited
Notes to the Financial Statements
For The Year Ended
31 March 2023
Notes to the Financial Statements
1.
General Information
Creative Advantage West Midlands Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
03914725
. The registered office is C/O RMY Clements, Sterling House, 71 Francis Road, Edgbaston, Birmingham, B16 8SP.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006
2.2.
Government Grant
Grants received for investment purposes are treated as deferred income and released to the profit and loss account when value of 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.
2.3.
Group Relief
Creative Advantage West Midlands Limited and its group companies are able to relieve their taxable losses by surrendering them to other group companies where capacity to utilise those losses exists.
There is an agreement between members of the group that such losses will be paid for by the recipient company. Where there is reasonable certainty that taxable losses can be relieved, the group relief receivable or payable is included in the tax charge or credit for the period.
2.4.
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 re-measured to market value at each balance sheet date. Gains and losses on re-measurement 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.
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: NIL (2022: NIL)
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Page 4
Creative Advantage West Midlands Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
4.
Investments
| Unlisted | |
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| Net Book Value | |
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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 - Lighting Reality Ltd, Ordinary Shares, %equity 11%
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.
5.
Debtors
| 2023 | 2022 | ||
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| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
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| VAT | - |
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6.
Creditors: Amounts Falling Due Within One Year
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| £ | £ | ||
| Trade creditors |
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| Accruals and deferred income |
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7.
Creditors: Amounts Falling Due After More Than One Year
| 2023 | 2022 | ||
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| £ | £ | ||
| Other creditors |
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Page 4
Page 5
Creative Advantage West Midlands Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
8.
Share Capital
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| Allotted, Called up and fully paid |
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9.
Related Party Transactions
During the year the following payments were made in respect of :
Professional services to companies owned by a director of the company totalling £1,548 (2022: £1,685) and £450 (2022: £450).
Project fees to directors totalling £720 (2022: £2,700)
10.
Ultimate Controlling Party
The company is a wholly owned subsidiary undertaking of Birmingham Venture Capital Limited.
The company's ultimate parent undertaking and controlling party is Birmingham City Council.
The parent company accounts are available from Companies House, Crown Way, Maindy, Cardiff, CF4 3UZ.
Page 5