Silverfin false 31/01/2022 31/01/2022 01/02/2021 Jonathan McKay 04/01/2013 Andrea McKay 04/01/2013 08 August 2022 The principal activity of the Company during the financial year was that of graphic design. SC439614 2022-01-31 SC439614 bus:Director1 2022-01-31 SC439614 bus:Director2 2022-01-31 SC439614 2021-01-31 SC439614 core:CurrentFinancialInstruments 2022-01-31 SC439614 core:CurrentFinancialInstruments 2021-01-31 SC439614 core:ShareCapital 2022-01-31 SC439614 core:ShareCapital 2021-01-31 SC439614 core:RetainedEarningsAccumulatedLosses 2022-01-31 SC439614 core:RetainedEarningsAccumulatedLosses 2021-01-31 SC439614 core:OtherPropertyPlantEquipment 2021-01-31 SC439614 core:OtherPropertyPlantEquipment 2022-01-31 SC439614 bus:OrdinaryShareClass1 2022-01-31 SC439614 2021-02-01 2022-01-31 SC439614 bus:FullAccounts 2021-02-01 2022-01-31 SC439614 bus:SmallEntities 2021-02-01 2022-01-31 SC439614 bus:AuditExemptWithAccountantsReport 2021-02-01 2022-01-31 SC439614 bus:PrivateLimitedCompanyLtd 2021-02-01 2022-01-31 SC439614 bus:Director1 2021-02-01 2022-01-31 SC439614 bus:Director2 2021-02-01 2022-01-31 SC439614 core:OtherPropertyPlantEquipment 2021-02-01 2022-01-31 SC439614 2020-02-01 2021-01-31 SC439614 bus:OrdinaryShareClass1 2021-02-01 2022-01-31 SC439614 bus:OrdinaryShareClass1 2020-02-01 2021-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC439614 (Scotland)

ATTAIN CREATIVE LTD.

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2022
PAGES FOR FILING WITH THE REGISTRAR

ATTAIN CREATIVE LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2022

Contents

ATTAIN CREATIVE LTD.

BALANCE SHEET

AS AT 31 JANUARY 2022
ATTAIN CREATIVE LTD.

BALANCE SHEET (continued)

AS AT 31 JANUARY 2022
Note 2022 2021
£ £
Fixed assets
Tangible assets 3 8,143 9,835
8,143 9,835
Current assets
Debtors 4 14,261 30,498
Cash at bank and in hand 17,325 29,648
31,586 60,146
Creditors
Amounts falling due within one year 5 ( 13,676) ( 40,672)
Net current assets 17,910 19,474
Total assets less current liabilities 26,053 29,309
Provision for liabilities ( 1,547) ( 1,869)
Net assets 24,506 27,440
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 24,406 27,340
Total shareholders' funds 24,506 27,440

For the financial year ending 31 January 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Attain Creative Ltd. (registered number: SC439614) were approved and authorised for issue by the Director on 08 August 2022. They were signed on its behalf by:

Jonathan McKay
Director
ATTAIN CREATIVE LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2022
ATTAIN CREATIVE LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2022
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Attain Creative Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 11 Cairnhill Drive, Fraserburgh, AB43 9ST, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable for graphic design net of VAT and is recognised at the point of invoice.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial assets
Financial assets, other than those held at fair value through profit and loss , are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. Trade creditors are recognised initially at transaction price.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 February 2021 19,412 19,412
Additions 2,396 2,396
Disposals ( 6,045) ( 6,045)
At 31 January 2022 15,763 15,763
Accumulated depreciation
At 01 February 2021 9,577 9,577
Charge for the financial year 2,769 2,769
Disposals ( 4,726) ( 4,726)
At 31 January 2022 7,620 7,620
Net book value
At 31 January 2022 8,143 8,143
At 31 January 2021 9,835 9,835

4. Debtors

2022 2021
£ £
Trade debtors 14,261 22,998
Other debtors 0 7,500
14,261 30,498

5. Creditors: amounts falling due within one year

2022 2021
£ £
Trade creditors 3,204 271
Other creditors 2,758 26,358
Corporation tax 6,067 7,748
Other taxation and social security 1,647 6,295
13,676 40,672

6. Called-up share capital

2022 2021
£ £
Allotted, called-up and fully-paid
100 A ordinary shares of £ 1.00 each 100 100

7. Related party transactions

Transactions with the entity's directors

2022 2021
£ £
Directors Loan Account 257 23,859

This loan is interest free and has no set repayment terms.