Caseware UK (AP4) 2022.0.179 2022.0.179 2021-11-302021-11-30No description of principal activitytrue11false2020-12-01trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12313445 2020-12-01 2021-11-30 12313445 2019-01-01 2020-11-30 12313445 2021-11-30 12313445 2020-11-30 12313445 c:Director1 2020-12-01 2021-11-30 12313445 d:OtherPropertyPlantEquipment 2020-12-01 2021-11-30 12313445 d:OtherPropertyPlantEquipment 2021-11-30 12313445 d:OtherPropertyPlantEquipment 2020-11-30 12313445 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2020-12-01 2021-11-30 12313445 d:CurrentFinancialInstruments 2021-11-30 12313445 d:CurrentFinancialInstruments 2020-11-30 12313445 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 12313445 d:CurrentFinancialInstruments d:WithinOneYear 2020-11-30 12313445 d:ShareCapital 2021-11-30 12313445 d:ShareCapital 2020-11-30 12313445 d:RetainedEarningsAccumulatedLosses 2021-11-30 12313445 d:RetainedEarningsAccumulatedLosses 2020-11-30 12313445 c:OrdinaryShareClass1 2020-12-01 2021-11-30 12313445 c:OrdinaryShareClass1 2021-11-30 12313445 c:OrdinaryShareClass1 2020-11-30 12313445 c:FRS102 2020-12-01 2021-11-30 12313445 c:AuditExempt-NoAccountantsReport 2020-12-01 2021-11-30 12313445 c:FullAccounts 2020-12-01 2021-11-30 12313445 c:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 12313445












CREATIVE EARTH LIMITED
 
(FORMERLY CREATIVE EARTH PRODUCTIONS LIMITED)
UNAUDITED ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021


 
REGISTERED NUMBER:12313445
CREATIVE EARTH LIMITED

BALANCE SHEET
AS AT 30 NOVEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
  
8,500
-

Current assets
  

Bank and cash balances
  
1,745
1

Current liabilities
  

Creditors: amounts falling due within one year
 5 
(242,826)
-

Net current (liabilities)/assets
  
 
 
(241,081)
 
 
1

Total assets less current liabilities
  
(232,581)
1

  

Net (liabilities)/assets
  
(232,581)
1


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(232,582)
-

Total equity
  
(232,581)
1


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 October 2023.




H A L Peachey
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 

CREATIVE EARTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

1.


General information

Creative Earth Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.
The comparative information is for the period from 13 November 2019 to 30 November 2020 and is therefore not entirely comparable.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis notwithstanding the fact that the company has a deficiency on total equity at the end of the year. The director considers this basis to be appropriate as the company has sufficient facilities available from its shareholder to fund its working capital requirements for a period of at least twelve months from the date these financial statements were approved.

 
2.3

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 2

 

CREATIVE EARTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Other fixed assets
-
Various based on individual asset values at year-end

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 


2.6

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes 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. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including other debtors, are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Page 3

 

CREATIVE EARTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)




Financial instruments (continued)

Financial liabilities

Basic financial liabilities, including other 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

  
2.7

Share capital

Ordinary shares are classified as equity.

Page 4

 

CREATIVE EARTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2020 -1).


4.


Tangible fixed assets





Other fixed assets

£



Cost or valuation


Additions
188,000



At 30 November 2021

188,000



Depreciation


Charge for the year on owned assets
179,500



At 30 November 2021

179,500



Net book value



At 30 November 2021
8,500



At 30 November 2020
-


5.


Creditors: Amounts falling due within one year

2021
2020
£
£

Other creditors
239,826
-

Accruals and deferred income
3,000
-

242,826
-


Page 5

 

CREATIVE EARTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

6.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



1 (2020 -1) Ordinary share of £1.00
1
1



7.


Related party transactions

At the balance sheet date the company owed £173,926 (2020: £Nil) to the director.

 
Page 6