Freeze Creative Design Ltd,Ltd - AccountsLtd - Accounts

Freeze Creative Design Ltd,Ltd - AccountsLtd - Accounts

FREEZE CREATIVE DESIGN LTD - Company Information

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2017-01-01 08332766 2017-12-31 08332766 2017-01-01 2017-12-31 08332766 2016-12-31 08332766 2016-01-01 2016-12-31 08332766 uk-core:WithinOneYear 2016-12-31 08332766 uk-core:WithinOneYear 2017-12-31 08332766 uk-core:ShareCapital 2017-12-31 08332766 uk-core:ShareCapital 2016-12-31 08332766 uk-core:RetainedEarningsAccumulatedLosses 2017-12-31 08332766 uk-core:RetainedEarningsAccumulatedLosses 2016-12-31 08332766 uk-bus:Director1 2017-01-01 2017-12-31 08332766 uk-bus:Director2 2017-01-01 2017-12-31 08332766 uk-core:NetGoodwill 2017-01-01 2017-12-31 08332766 uk-core:FurnitureFittings 2017-01-01 2017-12-31 08332766 uk-core:Goodwill 2016-12-31 08332766 uk-core:Goodwill 2017-12-31 08332766 uk-core:Goodwill 2017-01-01 2017-12-31 08332766 uk-core:WithinOneYear 2017-12-31 08332766 uk-core:WithinOneYear 2016-12-31 iso4217:GBP 08332766 uk-bus:AuditExemptWithAccountantsReport 2017-01-01 2017-12-31 08332766 uk-bus:FRS102 2017-01-01 2017-12-31 08332766 uk-bus:FullAccounts 2017-01-01 2017-12-31 08332766 uk-bus:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31
Freeze Creative Design Ltd
Registered Number:08332766
For the year ended 31 December 2017
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2017
Freeze Creative Design Ltd
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
As at 31 December 2017
Freeze Creative Design Ltd
Statement of Financial Position
Registered Number :
08332766
£
£
2016
2017
Notes
Fixed assets
Intangible assets
6,000
7,000
2
Property, plant and equipment
3,645
4,290
3
9,645
11,290
Current assets
Trade and other receivables
40,550
94,598
4
5,785
Cash and cash equivalents
27,964
122,562
46,335
Trade and other payables: amounts falling due within
one year
(54,122)
(78,612)
5
(7,787)
43,950
Net current assets
Total assets less current liabilities
53,595
3,503
53,595
Net assets
3,503
Capital and reserves
Called up share capital
100
100
Retained earnings
53,495
3,403
53,595
3,503
Shareholders' funds
For the year ended 31 December 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
For the year ended 31 December 2017
Freeze Creative Design Ltd
Statement of Financial Position Continued
Mr Jim Pryer Director
Mrs Natalie Pryer Director
These financial statements were approved and authorised for issue by the Board on 20 August 2018 and were signed by:
The notes form part of these financial statements
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5
For the year ended 31 December 2017
Freeze Creative Design Ltd
Notes to the Financial Statements
Statutory Information
Freeze Creative Design Ltd is a private limited company, limited by shares, domiciled in England and
Wales, registration number 08332766.
Registered address:
Upper Gallery, The Guildhall
Market Place
Thetford
Norfolk
IP24 2AL
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of 10 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
15% Reducing balance
Fixtures and fittings
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
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6
For the year ended 31 December 2017
Freeze Creative Design Ltd
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 January 2017
10,000
At 31 December 2017
10,000
Amortisation
At 01 January 2017
3,000
1,000
Charge for year
At 31 December 2017
4,000
Net book value
At 31 December 2017
6,000
At 31 December 2016
7,000
3. Property, plant and equipment
Fixtures and
fittings
£
Cost or
valuation
At 01 January 2017
5,856
At 31 December 2017
5,856
Provision for depreciation and impairment
At 01 January 2017
1,566
Charge for year
645
At 31 December 2017
2,211
At 31 December 2017
Net book value
3,645
At 31 December 2016
4,290
4. Trade and other receivables
2016
2017
£
£
Trade debtors
93,723
40,300
Other debtors
875
250
40,550
94,598
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7
For the year ended 31 December 2017
Freeze Creative Design Ltd
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2016
2017
£
£
Bank loans and overdraft
-
1,449
Trade creditors
1,078
13,646
Taxation and social security
46,652
20,901
Other creditors
30,882
18,126
78,612
54,122
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