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Company registration number: 07205057
CP Creative Ltd
Unaudited filleted financial statements
31 March 2023
CP Creative Ltd
Contents
Directors and other information
Accountant's report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
CP Creative Ltd
Directors and other information
Director Sam Crozier
Company number 07205057
Registered office Office 5-6
Saracens House Business Centre
25 St Margarets Green
Ipswich, Suffolk
IP4 2BN
Business address Office 5-6
Saracens House Business Centre
25 St Margaret's Street
Ipswich, Suffolk
IP4 2BN
Accountant Simon Emmerson
Deeks & King
Unit 2 The Rutherford Centre, Dunlop Road
Hadleigh Road Industrial Estate
Ipswich, Suffolk
IP2 0UG
Bankers Santander
CP Creative Ltd
Accountants report to the director on the preparation of the
unaudited statutory financial statements of CP Creative Ltd
Year ended 31 March 2023
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 March 2023 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Simon Emmerson
Deeks & King
Unit 2 The Rutherford Centre, Dunlop Road
Hadleigh Road Industrial Estate
Ipswich, Suffolk
IP2 0UG
30 October 2023
CP Creative Ltd
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 21,921 20,619
Tangible assets 6 18,293 20,160
_______ _______
40,214 40,779
Current assets
Debtors 7 63,140 94,147
Cash at bank and in hand 29 2,271
_______ _______
63,169 96,418
Creditors: amounts falling due
within one year 8 ( 86,353) ( 102,089)
_______ _______
Net current liabilities ( 23,184) ( 5,671)
_______ _______
Total assets less current liabilities 17,030 35,108
_______ _______
Net assets 17,030 35,108
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 17,028 35,106
_______ _______
Shareholders funds 17,030 35,108
_______ _______
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 October 2023 , and are signed on behalf of the board by:
Sam Crozier
Director
Company registration number: 07205057
CP Creative Ltd
Statement of changes in equity
Year ended 31 March 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2021 2 59,763 59,765
Profit/(loss) for the year ( 657) ( 657)
_______ _______ _______
Total comprehensive income for the year - ( 657) ( 657)
Dividends paid and payable ( 24,000) ( 24,000)
_______ _______ _______
Total investments by and distributions to owners - ( 24,000) ( 24,000)
_______ _______ _______
At 31 March 2022 and 1 April 2022 2 35,106 35,108
Profit/(loss) for the year 1,922 1,922
_______ _______ _______
Total comprehensive income for the year - 1,922 1,922
Dividends paid and payable ( 20,000) ( 20,000)
_______ _______ _______
Total investments by and distributions to owners - ( 20,000) ( 20,000)
_______ _______ _______
At 31 March 2023 2 17,028 17,030
_______ _______ _______
CP Creative Ltd
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Office 5-6, Saracens House Business Centre, 25 St Margarets Green, Ipswich, Suffolk, IP4 2BN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: Nil).
5. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 April 2022 99,443 99,443
Additions 12,098 12,098
_______ _______
At 31 March 2023 111,541 111,541
_______ _______
Amortisation
At 1 April 2022 78,824 78,824
Charge for the year 10,796 10,796
_______ _______
At 31 March 2023 89,620 89,620
_______ _______
Carrying amount
At 31 March 2023 21,921 21,921
_______ _______
At 31 March 2022 20,619 20,619
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 April 2022 70,397 70,397
Additions 2,148 2,148
_______ _______
At 31 March 2023 72,545 72,545
_______ _______
Depreciation
At 1 April 2022 50,237 50,237
Charge for the year 4,015 4,015
_______ _______
At 31 March 2023 54,252 54,252
_______ _______
Carrying amount
At 31 March 2023 18,293 18,293
_______ _______
At 31 March 2022 20,160 20,160
_______ _______
7. Debtors
2023 2022
£ £
Trade debtors 63,140 94,964
Other debtors - ( 817)
_______ _______
63,140 94,147
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 44,436 39,105
Trade creditors 17,327 30,590
Social security and other taxes 22,294 32,394
Other creditors 2,296 -
_______ _______
86,353 102,089
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Sam Crozier ( 817) 23,100 ( 23,329) ( 1,046)
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Sam Crozier ( 871) 27,740 ( 27,686) ( 817)
_______ _______ _______ _______