Abbreviated Company Accounts - ITM CREATIVE LIMITED

ITM CREATIVE LIMITED - Company Information

08775947 ITM CREATIVE LIMITED 2015-10-31 false 2014-11-01 2015-10-31 true 08775947 2014-11-01 2015-10-31 08775947 2015-10-31 08775947 2014-10-31 08775947 uk-gaap-cd-bus:Director1 2014-11-01 2015-10-31 08775947 uk-gaap-cd-bus:Director2 2014-11-01 2015-10-31 uk-gaap-cd-bus:Director3 2014-11-01 2015-10-31 uk-gaap-cd-bus:Director3 2015-10-31 uk-gaap-cd-bus:Director3 2014-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-11-01 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-10-31 uk-gaap-cd-bus:OrdinaryShareClass2 2014-11-01 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-10-31 uk-gaap-cd-bus:OrdinaryShareClass2 2014-10-31 iso4217:GBP shares

Registered Number 08775947

ITM CREATIVE LIMITED

Abbreviated Accounts

31 October 2015

ITM CREATIVE LIMITED Registered Number 08775947

Abbreviated Balance Sheet as at 31 October 2015

	Notes	2015	2014
		£	£
Fixed assets
Intangible assets	2	22,026	29,368
Tangible assets	3	23,492	26,896
		45,518	56,264
Current assets
Debtors		45,661	96,235
Cash at bank and in hand		13,747	21,603
		59,408	117,838
Prepayments and accrued income		2,575	2,575
Creditors: amounts falling due within one year		(101,234)	(150,229)
Net current assets (liabilities)		(39,251)	(29,816)
Total assets less current liabilities		6,267	26,448
Accruals and deferred income		(3,416)	(25,149)
Total net assets (liabilities)		2,851	1,299
Capital and reserves
Called up share capital	4	110	110
Profit and loss account		2,741	1,189
Shareholders' funds		2,851	1,299

For the year ending 31 October 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 16 March 2016

And signed on their behalf by:
A J Gerrard, Director
N M Gerrard, Director

ITM CREATIVE LIMITED Registered Number 08775947

Notes to the Abbreviated Accounts for the period ended 31 October 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 falling within the company’s ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life as follows:

Leasehold properties - straight line over the life of the lease
Fixtures, fittings and equipment - 25% straight line
Motor vehicles - 25% reducing balance

Intangible assets amortisation policy
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 5 years.

Other accounting policies
Foreign Currency
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the Profit and Loss account.

2Intangible fixed assets

	£
Cost
At 1 November 2014	36,710
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2015	36,710
Amortisation
At 1 November 2014	7,342
Charge for the year	7,342
On disposals	-
At 31 October 2015	14,684
Net book values
At 31 October 2015	22,026
At 31 October 2014	29,368

3Tangible fixed assets

	£
Cost
At 1 November 2014	33,759
Additions	2,484
Disposals	(2,225)
Revaluations	-
Transfers	-
At 31 October 2015	34,018
Depreciation
At 1 November 2014	6,863
Charge for the year	3,663
On disposals	-
At 31 October 2015	10,526
Net book values
At 31 October 2015	23,492
At 31 October 2014	26,896

4Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
100 Ordinary shares of £1 each	100	100
10 B Ordinary shares of £1 each	10	10

5Transactions with directors

Name of director receiving advance or credit:	A C Barker
Description of the transaction:	advances in the year
Balance at 1 November 2014:	£ 25,067
Advances or credits made:	-
Advances or credits repaid:	£ 25,067
Balance at 31 October 2015:	£ 0