ACCOUNTS - Final Accounts preparation

AEVITAS CREATIVE MANAGEMENT UK LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-01-01falseNo description of principal activity64falsetrue 12111735 2022-01-01 2022-12-31 12111735 2021-01-01 2021-12-31 12111735 2022-12-31 12111735 2021-12-31 12111735 c:Director2 2022-01-01 2022-12-31 12111735 d:FurnitureFittings 2022-01-01 2022-12-31 12111735 d:FurnitureFittings 2022-12-31 12111735 d:FurnitureFittings 2021-12-31 12111735 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 12111735 d:OfficeEquipment 2022-01-01 2022-12-31 12111735 d:OfficeEquipment 2022-12-31 12111735 d:OfficeEquipment 2021-12-31 12111735 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 12111735 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 12111735 d:CurrentFinancialInstruments 2022-12-31 12111735 d:CurrentFinancialInstruments 2021-12-31 12111735 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12111735 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 12111735 d:ShareCapital 2022-12-31 12111735 d:ShareCapital 2021-12-31 12111735 d:RetainedEarningsAccumulatedLosses 2022-12-31 12111735 d:RetainedEarningsAccumulatedLosses 2021-12-31 12111735 c:OrdinaryShareClass1 2022-01-01 2022-12-31 12111735 c:OrdinaryShareClass1 2022-12-31 12111735 c:OrdinaryShareClass2 2022-01-01 2022-12-31 12111735 c:OrdinaryShareClass2 2022-12-31 12111735 c:FRS102 2022-01-01 2022-12-31 12111735 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 12111735 c:FullAccounts 2022-01-01 2022-12-31 12111735 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 12111735 2 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12111735

AEVITAS CREATIVE MANAGEMENT UK LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022


AEVITAS CREATIVE MANAGEMENT UK LIMITED

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 6


AEVITAS CREATIVE MANAGEMENT UK LIMITED REGISTERED NUMBER:12111735

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2022

		2022		2021
Note		£		£

Fixed assets
Tangible assets	4		1,420		-
Current assets
Debtors: amounts falling due within one year	5	60,225		47,187
Cash at bank and in hand		17,887		19,857
		78,112		67,044
Current liabilities
Creditors: amounts falling due within one year	6	(85,890)		(27,928)
Net current (liabilities)/assets			(7,778)		39,116

Net (liabilities)/assets			(6,358)		39,116

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		(6,458)	39,016
		(6,358)	39,116

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 16 June 2023.

J T Mundy

Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1


AEVITAS CREATIVE MANAGEMENT UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1.	General information

The company's legal form is that of a private limited company registered in England and Wales. 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 Company meets it day to day working capital requirements through the support of its shareholders which the directors consider to be sufficient to meet cash flow requirements for the foreseeable future. The directors have prepared projected cash flow information for the year ending 12 months from the date of their approval of these financial statements. On the basis of this cash flow information, the directors consider it appropriate to prepare the financial statements on the 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 2022

2.Accounting policies (continued)

2.6

Pensions

Defined contribution pension plan
The Company contributes to defined contribution plans for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

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

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Fixtures and fittings	-	25%	straight line
				Office equipment	-	25%	straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.9

Clients funds

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 2022 the balance of funds held on behalf of clients amounted to £67,674.

Page 3


AEVITAS CREATIVE MANAGEMENT UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

2.10

Debtors

Short-term debtors are measured at the transaction price, less any impairment.

2.11

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.

2.12

Creditors

Short-term creditors are measured at the transaction price.

2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans from related parties..

Employees

The average monthly number of employees, including directors, during the year was 6 (2021 - 4).

4.	Tangible fixed assets

	Fixtures and fittings	Office equipment	Total
	£	£	£
Cost
Additions	1,077	449	1,526
At 31 December 2022	1,077	449	1,526
Depreciation
Charge for the year on owned assets	22	84	106
At 31 December 2022	22	84	106
Net book value
At 31 December 2022	1,055	365	1,420
At 31 December 2021	-	-	-

Page 4


AEVITAS CREATIVE MANAGEMENT UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

Debtors

					2022	2021
					£	£


Trade debtors	20,569	2,128
Other debtors	33,373	41,603
Prepayments and accrued income	-	3,456
Tax recoverable	6,283	-
	60,225	47,187

6.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Trade creditors	1,779	3,944
Amounts owed to group undertakings	61,327	-
Taxation and social security	2,493	12,199
Other creditors	17,291	9,035
Accruals and deferred income	3,000	2,750
	85,890	27,928

7.	Share capital
		2022	2021
		£	£

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

8.	Transactions with directors

At the balance sheet date the company was owed £32,230 (2021 - £40,843) by the director of the company. The maximum amount outstanding during the year was £63,453. Interest has been charged at the official HMRC rate on the overdue balance.

Page 5


AEVITAS CREATIVE MANAGEMENT UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

9.	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 6