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REGISTERED NUMBER: 03749511 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Creative Interior Contracts Limited

Creative Interior Contracts Limited (Registered number: 03749511)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Report of the Directors 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Creative Interior Contracts Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: I S Munro
A Teague
H Thomas



SECRETARY: A Teague



REGISTERED OFFICE: Grove House
1 Grove Place
Bedford
Bedfordshire
MK40 3JJ



REGISTERED NUMBER: 03749511 (England and Wales)



ACCOUNTANTS: Thompsons Accountancy Services Limited
Chartered Accountants
Grove House
1 Grove Place
Bedford
Bedfordshire
MK40 3JJ



BANKERS: Natwest Bank plc
81 High Street
Bedford
MK40 1YN

Creative Interior Contracts Limited (Registered number: 03749511)

Report of the Directors
for the Year Ended 31 March 2023

The directors present their report with the financial statements of the company for the year ended 31 March 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2022 to the date of this report.

I S Munro
A Teague
H Thomas

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





A Teague - Director


26 July 2023

Creative Interior Contracts Limited (Registered number: 03749511)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 95,007 34,487
Investments 6 - 11,000
95,007 45,487

CURRENT ASSETS
Debtors 7 1,059,416 945,557
Cash at bank and in hand 1,080,191 789,098
2,139,607 1,734,655
CREDITORS
Amounts falling due within one year 8 1,300,619 1,208,858
NET CURRENT ASSETS 838,988 525,797
TOTAL ASSETS LESS CURRENT
LIABILITIES

933,995

571,284

CREDITORS
Amounts falling due after more than one
year

9

(172,002

)

(264,944

)

PROVISIONS FOR LIABILITIES (23,752 ) (6,553 )
NET ASSETS 738,241 299,787

CAPITAL AND RESERVES
Called up share capital 109 109
Share premium 24,972 24,972
Capital redemption reserve 28 28
Retained earnings 713,132 274,678
SHAREHOLDERS' FUNDS 738,241 299,787

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Creative Interior Contracts Limited (Registered number: 03749511)

Statement of Financial Position - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 July 2023 and were signed on its behalf by:





A Teague - Director


Creative Interior Contracts Limited (Registered number: 03749511)

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

1. STATUTORY INFORMATION

Creative Interior Contracts Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Turnover represents net amounts invoiced in the period, excluding VAT, together with amounts receivable on long term contracts, determined on the basis of the stage of completion of the job.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Creative Interior Contracts Limited (Registered number: 03749511)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
Contributions in respect of the company's defined contribution pension scheme are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022
and 31 March 2023 36,000
AMORTISATION
At 1 April 2022
and 31 March 2023 36,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022 1,277 54,097 50,358 105,732
Additions - 3,706 70,239 73,945
At 31 March 2023 1,277 57,803 120,597 179,677
DEPRECIATION
At 1 April 2022 1,277 50,717 19,251 71,245
Charge for year - 3,769 9,656 13,425
At 31 March 2023 1,277 54,486 28,907 84,670
NET BOOK VALUE
At 31 March 2023 - 3,317 91,690 95,007
At 31 March 2022 - 3,380 31,107 34,487

Creative Interior Contracts Limited (Registered number: 03749511)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022 11,000
Impairments (11,000 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 11,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 938,472 870,720
Amounts recoverable on contracts 36,757 21,723
Other debtors 1,163 1,163
Directors' current accounts 41,271 -
Tax 16,159 16,159
Prepayments 25,594 35,792
1,059,416 945,557

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 92,942 92,942
Trade creditors 361,159 507,877
Tax 99,249 25,030
Social security and other taxes 53,289 41,817
VAT 273,133 248,763
Other creditors 27,891 20,010
Accrued expenses 392,956 272,419
1,300,619 1,208,858

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 92,942 92,942
Bank loans - 2-5 years 79,060 172,002
172,002 264,944

10. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £37,813 (2022 £72,659).

Creative Interior Contracts Limited (Registered number: 03749511)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
A Teague
Balance outstanding at start of year - -
Amounts advanced 15,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,000 -

H Thomas
Balance outstanding at start of year - -
Amounts advanced 26,271 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 26,271 -

An amount of £43,362 representing work done by the company for a Director remains outstanding and is shown within Current Assets as Trade Debtors.