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Registered Number: 13159585
England and Wales

 

 

 

NCREA8TIVE LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2022

End date: 31 January 2023
Director Chidinma Hunt
Registered Number 13159585
Registered Office 47 Lichen Road, Frome,
Somerset
BA11 5DZ
Accountants Lagos Accountancy Services UK
Ujima House
97-107 Wilder Street, St Paul's
Bristol
BS2 8QU
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 153    170 
Tangible fixed assets 4 3,229    3,830 
3,382    4,000 
Current assets      
Stocks 5 13,941    4,632 
Cash at bank and in hand 769    910 
14,710    5,542 
Creditors: amount falling due within one year 6 (46,498)   (22,093)
Net current liabilities (31,788)   (16,551)
 
Total assets less current liabilities (28,406)   (12,551)
Net liabilities (28,406)   (12,551)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (28,506)   (12,651)
Shareholder's funds (28,406)   (12,551)
 


For the year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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 financial statements were approved by the director on 17 October 2023 and were signed by:


-------------------------------
Chidinma Hunt
Director
2
General Information
NCREA8TIVE LTD is a private company, limited by shares, registered in England and Wales, registration number 13159585, registration address 47 Lichen Road, Frome,, Somerset , BA11 5DZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company will soon experience 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 invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Trade Mark
Trade Mark is stated at cost less amortization. Amortization is calculated on a straight line basis over the estimated expected useful economic life of the Trade Mark of 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:
Fixtures and Fittings 3 years Straight Line
Computer Equipment 3 years Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Intangible fixed assets

Cost Other intangible assets   Total
  £   £
At 01 February 2022 170    170 
Additions  
Disposals  
At 31 January 2023 170    170 
Amortisation
At 01 February 2022  
Charge for year 17    17 
On disposals  
At 31 January 2023 17    17 
Net book values
At 31 January 2023 153    153 
At 31 January 2022 170    170 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 February 2022 534    5,211    5,745 
Additions 826    1,143    1,969 
Disposals    
At 31 January 2023 1,360    6,354    7,714 
Depreciation
At 01 February 2022 178    1,737    1,915 
Charge for year 453    2,117    2,570 
On disposals    
At 31 January 2023 631    3,854    4,485 
Net book values
Closing balance as at 31 January 2023 729    2,500    3,229 
Opening balance as at 01 February 2022 356    3,474    3,830 


5.

Stocks

2023
£
  2022
£
Stocks 13,941    4,632 
13,941    4,632 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors   161 
Taxation and Social Security 40    78 
Other Creditors 46,458    21,854 
46,498    22,093 

7.

Director’s loan

C Hunt

Included in other creditors < 1 year is £46,110 (2021 : £21,503) owed to the Director by the company. The amount is unsecured, interest free and will not be repaid at the detriment of the company.
3