Registered number
08535441
ADAM BOURN CREATIVE SERVICES LIMITED
Filleted Accounts
31 May 2022
ADAM BOURN CREATIVE SERVICES LIMITED
Registered number: 08535441
Balance Sheet
as at 31 May 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 37,120 47,837
Current assets
Debtors 4 10,018 10,000
Cash at bank and in hand 212,839 264,907
222,857 274,907
Creditors: amounts falling due within one year 5 (47,511) (73,022)
Net current assets 175,346 201,885
Total assets less current liabilities 212,466 249,722
Creditors: amounts falling due after more than one year 6 - (46,100)
Net assets 212,466 203,622
Capital and reserves
Called up share capital 120 120
Profit and loss account 212,346 203,502
Shareholders' funds 212,466 203,622
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Adam Bourn
Director
Approved by the board on 12 September 2022
ADAM BOURN CREATIVE SERVICES LIMITED
Notes to the Accounts
for the year ended 31 May 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% Straight Line
Fixtures, fittings, tools and equipment 25% Straight Line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 10 10
3 Tangible fixed assets
Office Equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2021 52,972 - 10,810 63,782
Additions 878 6,093 - 6,971
At 31 May 2022 53,850 6,093 10,810 70,753
Depreciation
At 1 June 2021 13,242 - 2,703 15,945
Charge for the year 13,462 1,523 2,703 17,688
At 31 May 2022 26,704 1,523 5,406 33,633
Net book value
At 31 May 2022 27,146 4,570 5,404 37,120
At 31 May 2021 39,730 - 8,107 47,837
4 Debtors 2022 2021
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 10,000 10,000
Other debtors 18 -
10,018 10,000
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 4,512 49,253
Taxation and social security costs 38,799 22,115
Other creditors 4,200 1,654
47,511 73,022
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans - 46,100
7 Other information
ADAM BOURN CREATIVE SERVICES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Spirit House
8 High Street
West Molesey
Surrey
KT8 2NA
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