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REGISTERED NUMBER: 07230321 (England and Wales)
















CREODE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






CREODE LIMITED (REGISTERED NUMBER: 07230321)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CREODE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: A J Park
B J Rees
G J Weston





REGISTERED OFFICE: 12 South Parade
Leeds
LS1 5QS





REGISTERED NUMBER: 07230321 (England and Wales)





ACCOUNTANTS: UHY BPR Heaton
Chartered Accountants
Glenewes House
Gate Way Drive
Leeds
West Yorkshire
LS19 7XY

CREODE LIMITED (REGISTERED NUMBER: 07230321)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 5,327 4,722

CURRENT ASSETS
Debtors 5 246,976 276,408
Cash at bank 8,441 19,164
255,417 295,572
CREDITORS
Amounts falling due within one year 6 158,889 230,762
NET CURRENT ASSETS 96,528 64,810
TOTAL ASSETS LESS CURRENT
LIABILITIES

101,855

69,532

CREDITORS
Amounts falling due after more than one
year

7

295,855

355,688
NET LIABILITIES (194,000 ) (286,156 )

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings (194,200 ) (286,356 )
(194,000 ) (286,156 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

CREODE LIMITED (REGISTERED NUMBER: 07230321)

BALANCE SHEET - continued
30 JUNE 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 January 2024 and were signed on its behalf by:





G J Weston - Director


CREODE LIMITED (REGISTERED NUMBER: 07230321)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Creode 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.

Going concern
The directors have assessed the company's viability as a going concern. In that assessment they have considered the currently retained losses on the balance sheet and the future economic outlook within the company's industry. The directors are committed to the success of the company in the following twelve months, and where necessary will endeavour to support the company with all means at their disposal to ensure its continuity. Accordingly these accounts are prepared on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost and 20% on reducing balance

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial assets and liabilities are initially measured at transaction price, except for those financial assets classified as at fair value through profit or loss.

Basic financial instruments
Basic financial instruments are those with relatively straight forward terms and would normally include cash, bank balances, trade debtors, trade creditors and uncomplicated bank loans.

Where the arrangement does not constitute a financing transaction, e.g. trade debtors on normal commercial terms, the debtor will be valued initially at transaction price (i.e. cost) and subsequently at transaction price less impairment (id any) due to concerns over recoverability.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.


CREODE LIMITED (REGISTERED NUMBER: 07230321)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 July 2022 30,136
Additions 2,605
At 30 June 2023 32,741
DEPRECIATION
At 1 July 2022 25,414
Charge for year 2,000
At 30 June 2023 27,414
NET BOOK VALUE
At 30 June 2023 5,327
At 30 June 2022 4,722

CREODE LIMITED (REGISTERED NUMBER: 07230321)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

5. DEBTORS
2023 2022
£ £
Amounts falling due within one year:
Trade debtors 138,750 194,772
Other debtors 71,683 75,408
210,433 270,180

Amounts falling due after more than one year:
Amounts owed by group undertakings 36,543 6,228

Aggregate amounts 246,976 276,408

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 35,295 31,376
Trade creditors 33,602 38,838
Taxation and social security 40,517 121,802
Other creditors 49,475 38,746
158,889 230,762

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 140,520 176,788
Amounts owed to group undertakings 155,335 178,900
295,855 355,688

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 10,569 17,320

8. SECURED DEBTS

The company has provided security by way of a fixed and floating charge over the assets of the company in respect of loan facilities provided to the parent company, At 30 June 2023 the loan was £91,667.

CREODE LIMITED (REGISTERED NUMBER: 07230321)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£ £
A J Park
Balance outstanding at start of year 1,274 1,617
Amounts advanced 4,250 5,807
Amounts repaid (2,234 ) (6,150 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,290 1,274

10. PARENT COMPANY

The company is a wholly owned subsidiary of Open Path Agency Limited.

The ultimate parent company is Creode Agency Limited.