Creative Styling Limited 05881224 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is design, creation and installation of set for advertisements, product launches and photoshoots. Digita Accounts Production Advanced 6.30.9574.0 true true 05881224 2022-04-01 2023-03-31 05881224 2023-03-31 05881224 bus:OrdinaryShareClass1 2023-03-31 05881224 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05881224 core:FurnitureFittingsToolsEquipment 2023-03-31 05881224 bus:SmallEntities 2022-04-01 2023-03-31 05881224 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 05881224 bus:FullAccounts 2022-04-01 2023-03-31 05881224 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 05881224 bus:RegisteredOffice 2022-04-01 2023-03-31 05881224 bus:Director1 2022-04-01 2023-03-31 05881224 bus:Director2 2022-04-01 2023-03-31 05881224 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 05881224 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05881224 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 05881224 countries:EnglandWales 2022-04-01 2023-03-31 05881224 2022-03-31 05881224 core:FurnitureFittingsToolsEquipment 2022-03-31 05881224 2021-04-01 2022-03-31 05881224 2022-03-31 05881224 bus:OrdinaryShareClass1 2022-03-31 05881224 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 05881224 core:FurnitureFittingsToolsEquipment 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05881224

Creative Styling Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Creative Styling Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Creative Styling Limited

Company Information

Directors

Robert Dare

Gerald Brooking

Registered office

3rd Floor
Lawford House
Albert Place
London
N3 1QA

Accountants

Sterlings Ltd
Chartered Accountants
Lawford House
Albert Place
London
N3 1QA

 

Creative Styling Limited

(Registration number: 05881224)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

7,290

4,860

Current assets

 

Stocks

5

42,043

35,000

Debtors

6

323,615

201,924

Cash at bank and in hand

 

143,458

88,987

 

509,116

325,911

Creditors: Amounts falling due within one year

7

(265,467)

(176,221)

Net current assets

 

243,649

149,690

Net assets

 

250,939

154,550

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

250,839

154,450

Total equity

 

250,939

154,550

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 October 2023 and signed on its behalf by:
 

.........................................
Gerald Brooking
Director

 

Creative Styling Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3rd Floor
Lawford House
Albert Place
London
N3 1QA
United Kingdom

The principal place of business is:
Unit 4.3
Islington Studios
159-163 Marlborough Road
London
N19 4NF

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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.

Tax

The tax expense for the period comprises current 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.

 

Creative Styling Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Creative Styling Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

 

Creative Styling Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

29,469

29,469

Additions

4,860

4,860

At 31 March 2023

34,329

34,329

Depreciation

At 1 April 2022

24,609

24,609

Charge for the year

2,430

2,430

At 31 March 2023

27,039

27,039

Carrying amount

At 31 March 2023

7,290

7,290

At 31 March 2022

4,860

4,860

5

Stocks

2023
£

2022
£

Work in progress

42,043

35,000

6

Debtors

Current

2023
£

2022
£

Trade debtors

296,328

179,100

Prepayments

4,463

-

Other debtors

22,824

22,824

 

323,615

201,924

7

Creditors

Creditors: amounts falling due within one year

 

Creative Styling Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

2023
£

2022
£

Due within one year

Trade creditors

151,871

86,520

Taxation and social security

50,617

41,285

Accruals and deferred income

3,900

3,450

Other creditors

59,079

44,966

265,467

176,221

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £84,558 (2022 - £108,398). This is under a non-cancellation operating lease over the life of the lease.

10

Related party transactions

At the balance sheet date, the company owed £58,822 (2022 - £44,966) to the directors. The loan is provided interest free and are unsecured. There are no formal terms and conditions regarding repayment of the loan.

 

Creative Styling Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

17,688

17,688

Contributions paid to money purchase schemes

40,000

40,000

57,688

57,688