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REGISTERED NUMBER: 06598803 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

Create Network Limited

Create Network Limited (Registered number: 06598803)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Create Network Limited

Company Information
for the Year Ended 31 March 2022







DIRECTOR: Mrs J M Chapman





REGISTERED OFFICE: Second Floor
2 Walsworth Road
Hitchin
Hertfordshire
SG5 2HL





REGISTERED NUMBER: 06598803 (England and Wales)





ACCOUNTANTS: D and E Accountancy Ltd
Tax Advisors and Accountants
2nd Floor, 2 Walsworth Road
Hitchin
Hertfordshire
SG4 9SP

Create Network Limited (Registered number: 06598803)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 923 669

CURRENT ASSETS
Stocks 1,700 -
Debtors 5 8,760 8,994
Cash at bank 4,180 16,229
14,640 25,223
CREDITORS
Amounts falling due within one year 6 11,371 15,912
NET CURRENT ASSETS 3,269 9,311
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,192

9,980

CREDITORS
Amounts falling due after more than
one year

7

(6,644

)

(8,000

)

PROVISIONS FOR LIABILITIES 8 (175 ) (127 )
NET (LIABILITIES)/ASSETS (2,627 ) 1,853

CAPITAL AND RESERVES
Called up share capital 9 200 200
Retained earnings (2,827 ) 1,653
SHAREHOLDERS' FUNDS (2,627 ) 1,853

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Create Network Limited (Registered number: 06598803)

Balance Sheet - continued
31 March 2022


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 22 July 2022 and were signed by:





Mrs J M Chapman - Director


Create Network Limited (Registered number: 06598803)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Create Network 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 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 15% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Create Network Limited (Registered number: 06598803)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2021 325 3,347 3,672
Additions 537 - 537
At 31 March 2022 862 3,347 4,209
DEPRECIATION
At 1 April 2021 219 2,784 3,003
Charge for year 187 96 283
At 31 March 2022 406 2,880 3,286
NET BOOK VALUE
At 31 March 2022 456 467 923
At 31 March 2021 106 563 669

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 120 8,994
Other debtors 8,640 -
8,760 8,994

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans and overdrafts 7,305 1,817
Trade creditors - 882
Taxation and social security 2,603 7,810
Other creditors 1,463 5,403
11,371 15,912

Create Network Limited (Registered number: 06598803)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans 6,644 8,000

8. PROVISIONS FOR LIABILITIES
31.3.22 31.3.21
£    £   
Deferred tax 175 127

Deferred
tax
£   
Balance at 1 April 2021 127
Charge to Income Statement during year 48
Balance at 31 March 2022 175

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.3.22 31.3.21
value: £    £   
200 Ordinary £1 200 200

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021:

31.3.22 31.3.21
£    £   
Mrs J M Chapman
Balance outstanding at start of year - -
Amounts advanced 6,520 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,520 -

11. ULTIMATE CONTROLLING PARTY

At the balance sheet date the director controlled the Company.

The director received no dividends within the year, (Last year £18,800).