Registered number
07578766
NT Creative Arts Ltd
Report and Accounts
31 March 2023
NT Creative Arts Ltd
Registered number: 07578766
Director's Report
The director presents her report and accounts for the year ended 31 March 2023.
Principal activities
The company's principal activity during the year continued to be the management of creative arts projects.
Directors
The following persons served as directors during the year:
N Turner
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 14 November 2023 and signed on its behalf.
N Turner
Director
NT Creative Arts Ltd
Report to the director on the preparation of the unaudited statutory accounts of NT Creative Arts Ltd for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of NT Creative Arts Ltd for the year ended 31 March 2023 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s 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 NT Creative Arts Ltd, as a body, in accordance with the terms of our engagement letter dated 1 July 2010. Our work has been undertaken solely to prepare for your approval the accounts of NT Creative Arts Ltd and state those matters that we have agreed to state to the Board of Directors of NT Creative Arts Ltd, 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 NT Creative Arts Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that NT Creative Arts Ltd 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 NT Creative Arts Ltd. You consider that NT Creative Arts Ltd 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 NT Creative Arts Ltd. 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.
The Waldron Partnership Ltd
Chartered Certified Accountants
Broadway House
Third Avenue
Radstock
BA3 4XD
14 November 2023
NT Creative Arts Ltd
Registered number: 07578766
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,635 1,830
Cash at bank and in hand 5,151 10,148
Creditors: amounts falling due within one year 4 (7,151) (8,184)
Net current (liabilities)/assets (2,000) 1,964
Net (liabilities)/assets (365) 3,794
Capital and reserves
Called up share capital 100 100
Profit and loss account (465) 3,694
Shareholder's funds (365) 3,794
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N Turner
Director
Approved by the board on 14 November 2023
NT Creative Arts Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office Equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Office Equipment
£
Cost
At 1 April 2022 4,426
Additions 350
At 31 March 2023 4,776
Depreciation
At 1 April 2022 2,596
Charge for the year 545
At 31 March 2023 3,141
Net book value
At 31 March 2023 1,635
At 31 March 2022 1,830
4 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax 3,818 4,960
Other creditors 3,333 3,224
7,151 8,184
5 Other information
NT Creative Arts Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Broadway House
Third Avenue, Westfield Trading Estate
Radstock
BA3 4XD
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