Create SPV 1 Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: 06410845 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

Create SPV 1 Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K Greenhalgh

P Robertson

V Chapman

REGISTERED OFFICE:

12 Burleigh Street

Covent Garden

London

WC2E 7PX

REGISTERED NUMBER:

06410845 (England and Wales)

FIXED ASSETS

Intangible assets

3

12,344

39,620

Investments

4

51

51

12,395

39,671

CURRENT ASSETS

Debtors

5

482,149

428,110

CREDITORS

Amounts falling due within one year

6

(9,028

)

(8,678

)

NET CURRENT ASSETS

473,121

419,432

TOTAL ASSETS LESS CURRENT LIABILITIES

485,516

459,103

CREDITORS

Amounts falling due after more than one year

7

(480,133

)

(426,094

)

NET ASSETS

5,383

33,009

CAPITAL AND RESERVES

Called up share capital

114

114

Share premium

338,792

338,792

Retained earnings

(333,523

)

(305,897

)

SHAREHOLDERS' FUNDS

5,383

33,009

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20 September 2017 and were signed on its behalf by:

K Greenhalgh - Director

1.	STATUTORY INFORMATION

Create SPV 1 Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Create SPV 1 Limited as an individual company

and do not contain consolidated financial information as the parent of a group. The company has

taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial

statements.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intellectual right are being amortised evenly over their estimated useful life of nil years.

Development costs are being amortised evenly over their estimated useful life of nil years.

Intellectual right

Intellectual right is capitalised and amortised over the period during which the company is expected

to generate future income from it.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Research and development

Research expenditure is written off to the profit and loss account in the year in which it is incurred.

Development expenditure is written off in the same year unless the directors are satisfied as to the

technical, commercial and financial viability of individual projects. In this situation, the expenditure

is deferred and amortised over the period from which the company is expected to benefit. During

the current period the directors deemed it appropriate to charge a special impairment charge to

reduce the carrying value of the development costs to the anticipated commercial worth.

Investments

Fixed asset investments are stated at cost less provision for permanent diminution of value.

3.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2016

and 31 December 2016

272,797

AMORTISATION

At 1 January 2016

233,177

Charge for year

27,276

At 31 December 2016

260,453

NET BOOK VALUE

At 31 December 2016

12,344

At 31 December 2015

39,620

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 January 2016

and 31 December 2016

51

NET BOOK VALUE

At 31 December 2016

51

At 31 December 2015

51

5.

DEBTORS

31.12.16

31.12.15

£

£

Amounts falling due within one year:

Amounts owed by group undertakings

2,016

2,016

Amounts falling due after more than one year:

Amounts owed by group undertakings

480,133

426,094

Aggregate amounts

482,149

428,110

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

1,300

1,300

Amounts owed to group undertakings

4,728

4,378

Taxation and social security

750

750

Other creditors

2,250

2,250

9,028

8,678

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.16

31.12.15

£

£

Other creditors

480,133

426,094

The creditors are loans secured by way of fixed and floating charges securing all monies due under

deeds of assignment. The loans have no fixed repayment date.

8.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.