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Company Registration No. 12727353 (England and Wales)
Threads Creatives Limited Unaudited accounts for the year ended 31 July 2023
Threads Creatives Limited Unaudited accounts Contents
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Threads Creatives Limited Company Information for the year ended 31 July 2023
Director
Michelle Ojulah
Company Number
12727353 (England and Wales)
Registered Office
Waterend Cottage Luton Road Luton Bedfordshire LU4 9UH United Kingdom
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Threads Creatives Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
767 
1,206 
Current assets
Debtors
3,809 
4,274 
Cash at bank and in hand
315 
10,565 
4,124 
14,839 
Creditors: amounts falling due within one year
(3,873)
(11,487)
Net current assets
251 
3,352 
Net assets
1,018 
4,558 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
1,017 
4,557 
Shareholders' funds
1,018 
4,558 
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 September 2023 and were signed on its behalf by
Michelle Ojulah Director Company Registration No. 12727353
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Threads Creatives Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Threads Creatives Limited is a private company, limited by shares, registered in England and Wales, registration number 12727353. The registered office is Waterend Cottage, Luton Road, Luton, Bedfordshire, LU4 9UH, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% Reducing Balance
Computer equipment
33% Straight Line
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 August 2022
1,049 
924 
1,973 
At 31 July 2023
1,049 
924 
1,973 
Depreciation
At 1 August 2022
157 
610 
767 
Charge for the year
134 
305 
439 
At 31 July 2023
291 
915 
1,206 
Net book value
At 31 July 2023
758 
9 
767 
At 31 July 2022
892 
314 
1,206 
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Threads Creatives Limited Notes to the Accounts for the year ended 31 July 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
509 
274 
Other debtors
3,300 
4,000 
3,809 
4,274 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
343 
838 
Taxes and social security
2,310 
2,396 
Loans from directors
20 
7,053 
Accruals
1,200 
1,200 
3,873 
11,487 
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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