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Registration number: 11835975

Creative Christmas Events Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

image-name
 

Creative Christmas Events Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Creative Christmas Events Ltd

Company Information

Director

Mr A Keech

Registered office

37 Highbury Lane
Campbell Park
Milton Keynes
Buckinghamshire
MK9 4AQ

Accountants

Michael J Emery & Co Limited
Chartered Accountants
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

 

Creative Christmas Events Ltd

(Registration number: 11835975)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

36,979

24,323

Current assets

 

Stocks

5

500

500

Debtors

6

11,669

20,629

Cash at bank and in hand

 

32,177

55,324

 

44,346

76,453

Creditors: Amounts falling due within one year

7

(17,040)

(57,045)

Net current assets

 

27,306

19,408

Total assets less current liabilities

 

64,285

43,731

Creditors: Amounts falling due after more than one year

7

(19,594)

(21,993)

Provisions for liabilities

(7,026)

(1,455)

Net assets

 

37,665

20,283

Capital and reserves

 

Called up share capital

100

100

Retained earnings

37,565

20,183

Shareholders' funds

 

37,665

20,283

For the financial year ending 28 February 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 14 February 2024
 

 

Creative Christmas Events Ltd

(Registration number: 11835975)
Balance Sheet as at 28 February 2023

.........................................
Mr A Keech
Director

 

Creative Christmas Events Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
37 Highbury Lane
Campbell Park
Milton Keynes
Buckinghamshire
MK9 4AQ
England

These financial statements were authorised for issue by the director on 14 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Creative Christmas Events Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line

Motor vehicles

15% straight line

Equipment

33% straight line

Plant & machinery

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Creative Christmas Events Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the year, including the director, was 1 (2022 - 1).

 

Creative Christmas Events Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Equipment
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 March 2022

24,872

-

1,226

8,267

Additions

13,442

8,492

2,410

-

At 28 February 2023

38,314

8,492

3,636

8,267

Depreciation

At 1 March 2022

8,208

-

472

1,362

Charge for the year

9,553

322

573

1,240

At 28 February 2023

17,761

322

1,045

2,602

Carrying amount

At 28 February 2023

20,553

8,170

2,591

5,665

At 28 February 2022

16,664

-

754

6,905

Total
£

Cost or valuation

At 1 March 2022

34,365

Additions

24,344

At 28 February 2023

58,709

Depreciation

At 1 March 2022

10,042

Charge for the year

11,688

At 28 February 2023

21,730

Carrying amount

At 28 February 2023

36,979

At 28 February 2022

24,323

5

Stocks

2023
£

2022
£

Inventory

500

500

 

Creative Christmas Events Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

6

Debtors

2023
£

2022
£

Trade debtors

5,987

20,003

Prepayments

699

626

Director's loan account

4,983

-

11,669

20,629

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

4,033

1,558

Trade creditors

 

756

18,075

Other creditors

 

-

30,405

Corporation tax control

 

3,249

-

VAT Control account

 

266

6,157

Accruals

 

8,736

850

 

17,040

57,045

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

19,594

21,993

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

19,594

21,993

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,033

1,558

 

Creative Christmas Events Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

9

Related party transactions

Transactions with the director

2023

At 1 March 2022
£

Advances to director
£

Repayments by director
£

At 28 February 2023
£

Mr A Keech

(30,405)

103,987

(68,600)

4,982

         
       

 

The overdrawn Director loan account to be cleared in 9 months.