CREATIVE BUSINESS SCHOOL LIMITED - Accounts to registrar (filleted) - small 23.2.5
CREATIVE BUSINESS SCHOOL LIMITED - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 |
| FOR |
| CREATIVE BUSINESS SCHOOL LIMITED |
| CREATIVE BUSINESS SCHOOL LIMITED (REGISTERED NUMBER: 09573032) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2023 |
| Page |
| Statement of Financial Position | 1 | to | 2 |
| Notes to the Financial Statements | 3 | to | 6 |
| CREATIVE BUSINESS SCHOOL LIMITED (REGISTERED NUMBER: 09573032) |
| STATEMENT OF FINANCIAL POSITION |
| 31 JULY 2023 |
| 31.7.23 | 31.7.22 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| The director acknowledges his 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. |
| CREATIVE BUSINESS SCHOOL LIMITED (REGISTERED NUMBER: 09573032) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 JULY 2023 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| CREATIVE BUSINESS SCHOOL LIMITED (REGISTERED NUMBER: 09573032) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2023 |
| 1. | STATUTORY INFORMATION |
| CREATIVE BUSINESS SCHOOL LIMITED is a |
| Registered number: |
| Registered office: |
| The principal activity of the company is that of an investment company. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are prepared in sterling, which is the functional currency of the entity |
| Significant judgements and estimates |
| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
| Investment properties |
| The open market value of the investment properties has been determined by the directors, based on their experience of the market. |
| Tangible fixed assets |
| Equipment | - |
| Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. |
| Investment property |
| Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. |
| Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. |
| If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis. |
| CREATIVE BUSINESS SCHOOL LIMITED (REGISTERED NUMBER: 09573032) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. |
| Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
| Debt instruments are subsequently measured at amortised cost. |
| Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. |
| For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. |
| Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. |
| Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. |
| Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| CREATIVE BUSINESS SCHOOL LIMITED (REGISTERED NUMBER: 09573032) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Consolidation |
| The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Equipment |
| £ |
| COST |
| At 1 August 2022 |
| Additions |
| At 31 July 2023 |
| DEPRECIATION |
| At 1 August 2022 |
| Charge for year |
| At 31 July 2023 |
| NET BOOK VALUE |
| At 31 July 2023 |
| At 31 July 2022 |
| 5. | FIXED ASSET INVESTMENTS |
| Interest |
| in |
| subsidiary |
| £ |
| COST |
| At 1 August 2022 |
| and 31 July 2023 |
| NET BOOK VALUE |
| At 31 July 2023 |
| At 31 July 2022 |
| CREATIVE BUSINESS SCHOOL LIMITED (REGISTERED NUMBER: 09573032) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2023 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 August 2022 |
| Additions |
| At 31 July 2023 |
| NET BOOK VALUE |
| At 31 July 2023 |
| At 31 July 2022 |
| The director considers the investment property to be stated at fair value as at 31 July 2023. |
| 7. | DEBTORS |
| 31.7.23 | 31.7.22 |
| £ | £ |
| Amounts falling due within one year: |
| Amounts owed by group undertakings |
| Deferred tax asset | 7,614 | 7,865 |
| Prepayments and accrued income |
| Amounts falling due after more than one year: |
| Amounts due from connected |
| companies | 3,619,731 | 2,514,784 |
| Aggregate amounts |
| Amounts due from group undertakings are unsecured, interest free and are repayable on demand. |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.7.23 | 31.7.22 |
| £ | £ |
| Directors' loan accounts | 4,743,158 | 3,584,906 |
| Accruals and deferred income |
| 9. | EVENTS AFTER THE END OF THE REPORTING PERIOD |
| There were no significant events up to the date of approval of the financial statements by the Board. |