Abbreviated Company Accounts - CREATIVE HOTSPOT LTD

Abbreviated Company Accounts - CREATIVE HOTSPOT LTD

CREATIVE HOTSPOT LTD - Company Information

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Registered Number 07073722

CREATIVE HOTSPOT LTD

Abbreviated Accounts

31 May 2015

CREATIVE HOTSPOT LTD Registered Number 07073722

Abbreviated Balance Sheet as at 31 May 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 3,283 3,845
3,283 3,845
Current assets
Debtors 12,573 1,321
Cash at bank and in hand - 11,041
12,573 12,362
Creditors: amounts falling due within one year (15,229) (12,230)
Net current assets (liabilities) (2,656) 132
Total assets less current liabilities 627 3,977
Creditors: amounts falling due after more than one year - (1,368)
Total net assets (liabilities) 627 2,609
Capital and reserves
Called up share capital 3 1 1
Profit and loss account 626 2,608
Shareholders' funds 627 2,609
  • For the year ending 31 May 2015 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 26 January 2016

And signed on their behalf by:
A Cornwell, Director

CREATIVE HOTSPOT LTD Registered Number 07073722

Notes to the Abbreviated Accounts for the period ended 31 May 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value excluding value added tax of sales made during the year and derives from the provision of goods and services falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life, or if held under a finance lease, over the lease term,which ever is the shorter.
Fixtures and equipment 25% on cost.

Other accounting policies
Hire Purchase and Leasing Commitments. Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, which ever is the shorter.
The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
Going Concern. The company has net liabilities of £2,656 at 31 May 2015. The director of the company has undertaken to offer financial support to the company for the foreseeable future and considers that the company has the required facilities to meet its obligations as they fall due. Therefore, the accounts have been prepared on a going concern basis.
Creditors. Creditors include an amount of £1,368 (2014 £2,736) for which security has been given.
Related Party disclosures. During the year total dividends of £12,400 (2014 £13,600) were paid to the director.

2Tangible fixed assets
£
Cost
At 1 June 2014 7,476
Additions 1,164
Disposals -
Revaluations -
Transfers -
At 31 May 2015 8,640
Depreciation
At 1 June 2014 3,631
Charge for the year 1,726
On disposals -
At 31 May 2015 5,357
Net book values
At 31 May 2015 3,283
At 31 May 2014 3,845
3Called Up Share Capital
Allotted, called up and fully paid:
2015
£		 2014
£
1 Ordinary shares of £1 each 1 1