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Company No: 09129685 (England and Wales)

TRULY CREATIVE LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

TRULY CREATIVE LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

TRULY CREATIVE LIMITED

COMPANY INFORMATION

For the financial year ended 30 September 2023
TRULY CREATIVE LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2023
DIRECTOR J A Harrison
REGISTERED OFFICE Ground Floor Blackbrook Gate 1
Blackbrook Business Park
Taunton
TA1 2PX
United Kingdom
COMPANY NUMBER 09129685 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
TRULY CREATIVE LIMITED

BALANCE SHEET

As at 30 September 2023
TRULY CREATIVE LIMITED

BALANCE SHEET (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 3,107 3,611
3,107 3,611
Current assets
Debtors 4 4,555 1,473
Cash at bank and in hand 15,156 20,030
19,711 21,503
Creditors: amounts falling due within one year 5 ( 10,637) ( 11,030)
Net current assets 9,074 10,473
Total assets less current liabilities 12,181 14,084
Creditors: amounts falling due after more than one year 6 ( 3,474) ( 5,489)
Provision for liabilities ( 591) ( 686)
Net assets 8,116 7,909
Capital and reserves
Called-up share capital 7 1 1
Profit and loss account 8,115 7,908
Total shareholder's funds 8,116 7,909

For the financial year ending 30 September 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 financial statements of Truly Creative Limited (registered number: 09129685) were approved and authorised for issue by the Director on 13 February 2024. They were signed on its behalf by:

J A Harrison
Director
TRULY CREATIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
TRULY CREATIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Truly Creative Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax and is recognised when the services have been provided.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Computer equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

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

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 October 2022 9,280 9,280
Additions 222 222
At 30 September 2023 9,502 9,502
Accumulated depreciation
At 01 October 2022 5,669 5,669
Charge for the financial year 726 726
At 30 September 2023 6,395 6,395
Net book value
At 30 September 2023 3,107 3,107
At 30 September 2022 3,611 3,611

4. Debtors

2023 2022
£ £
Trade debtors 4,185 665
Amounts owed by director 370 808
4,555 1,473

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 2,015 1,966
Accruals 1,700 1,600
Corporation tax 5,963 5,332
Other taxation and social security 959 2,132
10,637 11,030

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 3,474 5,489

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

8. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Director loan repayable on demand 370 808

Advances totalling £682 were made to the director during the year. Repayments totalling £1,120 were made by the director during the year.