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Registered Number: 05249876
England and Wales

 

 

 

THE CREATION STATION LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 May 2022

End date: 30 April 2023
Report to the directors on the preparation of the unaudited statutory accounts of The Creation Station Limited for the year ended 30 April 2023. In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Creation Station Limited for the year ended 30 April 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/. This report is made solely to the Board of Directors of The Creation Station Limited, as a body, in accordance with the terms of our engagement letter dated 02 October 2018. Our work has been undertaken solely to prepare for your approval the accounts of The Creation Station Limited and state those matters that we have agreed to state to the Board of Directors of The Creation Station Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Creation Station Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that The Creation Station Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of The Creation Station Limited. You consider that The Creation Station Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of The Creation Station Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts for the period ended 30 April 2023.



....................................................
Baranov Associates Ltd
4 Academy Close
Kirkby Stephen
Cumbria
CA17 4JG
12 October 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 74,836    91,515 
Tangible fixed assets 4 36,060    48,948 
Investments 5 100    100 
110,996    140,563 
Current assets      
Stocks 33,477    36,750 
Debtors 46,789    87,528 
Cash at bank and in hand 101,603    110,544 
181,869    234,822 
Creditors: amount falling due within one year (68,505)   (127,162)
Net current assets 113,364    107,660 
 
Total assets less current liabilities 224,360    248,223 
Creditors: amount falling due after more than one year (49,396)   (68,438)
Provisions for liabilities (5,892)   (7,608)
Net assets 169,072    172,177 
 

Capital and reserves
     
Called up share capital 6 1,000    1,000 
Profit and loss account 168,072    171,177 
Shareholder's funds 169,072    172,177 
 


For the year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 12 October 2023 and were signed on its behalf by:


-------------------------------
Sarah Cressall
Director
2
General Information
The Creation Station Limited is a private company, limited by shares, registered in England and Wales, registration number 05249876, registration address C/O Kilvington Solicitors, Westmorland House, Market Square, Kirkby Stephen, Cumbria, CA17 4QT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale for goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity and;
specific criteria have been met for each of the company's activities.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred taxation
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Website
Development costs of then website are capitalised as incurred and are amortised on a straight line basis over 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 15% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Investments in equity shares which are publicly traded or where the fair value can be measured
reliably are initially measured at fair value, with changes in fair value recognised in profit or loss.

Investments in equity shares which are not publicly traded and where fair value cannot be measured
reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective
interest method. Dividends on equity securities are recognised in income when receivable.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 3 (2022 : 6).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 May 2022 166,785    166,785 
Additions  
Disposals  
At 30 April 2023 166,785    166,785 
Amortisation
At 01 May 2022 75,270    75,270 
Charge for year 16,679    16,679 
On disposals  
At 30 April 2023 91,949    91,949 
Net book values
At 30 April 2023 74,836    74,836 
At 30 April 2022 91,515    91,515 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 May 2022 15,379    52,990    31,734    100,103 
Additions     1,523    1,523 
Disposals (11,630)     (23,613)   (35,243)
At 30 April 2023 3,749    52,990    9,644    66,383 
Depreciation
At 01 May 2022 13,154    15,172    22,829    51,155 
Charge for year 381    7,949    1,683    10,013 
On disposals (10,930)     (19,915)   (30,845)
At 30 April 2023 2,605    23,121    4,597    30,323 
Net book values
Closing balance as at 30 April 2023 1,144    29,869    5,047    36,060 
Opening balance as at 01 May 2022 2,225    37,818    8,905    48,948 


5.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 May 2022 100    100 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 30 April 2023 100    100 

6.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1,000 Ordinary shares of £1.00 each 1,000    1,000 
1,000    1,000 

3