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REGISTERED NUMBER: 10487717 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 November 2021

for

GN Creative Ltd

GN Creative Ltd (Registered number: 10487717)






Contents of the Financial Statements
for the Year Ended 30 November 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GN Creative Ltd

Company Information
for the Year Ended 30 November 2021







DIRECTOR: G Arnold





REGISTERED OFFICE: 64b Granville Road
Walthamstow
London
E17 9BT





REGISTERED NUMBER: 10487717 (England and Wales)





ACCOUNTANTS: SKS Business Services Ltd
3 Sheen Road
Richmond Upon Thames
Surrey
TW9 1AD

GN Creative Ltd (Registered number: 10487717)

Balance Sheet
30 November 2021

2021 2020
Notes £    £   
FIXED ASSETS
Tangible assets 4 424 565

CURRENT ASSETS
Debtors 5 - 2,003
Cash at bank 44,987 43,851
44,987 45,854
CREDITORS
Amounts falling due within one year 6 (1,855 ) -
NET CURRENT ASSETS 43,132 45,854
TOTAL ASSETS LESS CURRENT
LIABILITIES

43,556

46,419

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 8 43,555 46,418
SHAREHOLDERS' FUNDS 43,556 46,419

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 18 August 2022 and were signed by:





G Arnold - Director


GN Creative Ltd (Registered number: 10487717)

Notes to the Financial Statements
for the Year Ended 30 November 2021

1. STATUTORY INFORMATION

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

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

GN Creative Ltd (Registered number: 10487717)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2021

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 December 2020
and 30 November 2021 196 849 1,045
DEPRECIATION
At 1 December 2020 88 392 480
Charge for year 27 114 141
At 30 November 2021 115 506 621
NET BOOK VALUE
At 30 November 2021 81 343 424
At 30 November 2020 108 457 565

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Other debtors - 70
Corporation tax - 96
Directors' current accounts - 1,837
- 2,003

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Other creditors 13 -
Directors' current accounts 1,512 -
Accrued expenses 330 -
1,855 -

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
1 Called Up Share Capital 1 1 1

GN Creative Ltd (Registered number: 10487717)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2021

8. RESERVES
Retained
earnings
£   

At 1 December 2020 46,418
Deficit for the year (863 )
Dividends (2,000 )
At 30 November 2021 43,555

9. RELATED PARTY DISCLOSURES

At the balance sheet date, included in creditors is an amount owed to director and shareholder Mr. Gary Arnold for the sum of £1,512 (2019 - £1,837 Receivable).

10. EVENTS DURING THE REPORTING PERIOD

For the period ended on 30 November 2021, the Coronavirus (COVID-19) has emerged globally resulting in a significant impact on businesses worldwide. As a result some business operations have been restricted, however company continues to operate using alternative methods and remote working. The directors are unable to evaluate the overall financial impact on the business at present. Hence the financial statements do not include any adjustments that might result from the outcome of this uncertainty. The directors are continuing to monitor, assess and act with reference to the current changing environment in order to position the company to ensure its future success.

11. ULTIMATE CONTROLLING PARTY

The director- Gary Arnold controls the company by virtue of his shareholding.