Company Registration No. 10857940 (England and Wales)
Creative Form Limited
Unaudited accounts
for the year ended 31 July 2023
Creative Form Limited
Unaudited accounts
Contents
Creative Form Limited
Company Information
for the year ended 31 July 2023
Directors
Paul Alexander Farrow
Jodie Victoria Gibbs-Farrow
Luke Smith
Company Number
10857940 (England and Wales)
Registered Office
Green Room Barbados House
Station Road
Bordon
Hampshire
GU35 0LR
England
Accountants
M A Accountancy Group
Wolfe Mead
Farnham Road
Bordon
Hampshire
GU35 0NH
Creative Form Limited
Statement of financial position
as at 31 July 2023
Intangible assets
7,143
14,286
Tangible assets
12,203
12,616
Cash at bank and in hand
12,931
67,839
Creditors: amounts falling due within one year
(10,469)
(50,799)
Net current assets
10,391
17,590
Total assets less current liabilities
29,737
44,492
Creditors: amounts falling due after more than one year
(19,359)
(29,259)
Provisions for liabilities
Deferred tax
(2,319)
(2,397)
Called up share capital
100
100
Profit and loss account
7,959
12,736
Shareholders' funds
8,059
12,836
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2023 and were signed on its behalf by
Jodie Victoria Gibbs-Farrow
Director
Company Registration No. 10857940
Creative Form Limited
Notes to the Accounts
for the year ended 31 July 2023
Creative Form Limited is a private company, limited by shares, registered in England and Wales, registration number 10857940. The registered office is Green Room Barbados House, Station Road, Bordon, Hampshire, GU35 0LR, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
15% reducing balance
Computer equipment
50% straight line
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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 accounts. 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 current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Creative Form Limited
Notes to the Accounts
for the year ended 31 July 2023
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Other
Intangible assets includes a licence fee purchased in 2018. The licence runs for seven years and therefore the cost is to be amortised over this seven year period on a straight line basis.
5
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 August 2022
15,585
1,942
17,527
At 31 July 2023
15,585
5,126
20,711
At 1 August 2022
3,247
1,664
4,911
Charge for the year
3,085
512
3,597
At 31 July 2023
6,332
2,176
8,508
At 31 July 2023
9,253
2,950
12,203
At 31 July 2022
12,338
278
12,616
Creative Form Limited
Notes to the Accounts
for the year ended 31 July 2023
Carrying values included above held under finance leases and hire purchase contracts:
£
£
Amounts falling due within one year
Accrued income and prepayments
-
550
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
7,000
7,000
Obligations under finance leases and hire purchase contracts
2,900
2,900
Taxes and social security
19,063
16,330
Loans from directors
(27,304)
172
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
6,526
9,426
9
Average number of employees
During the year the average number of employees was 29 (2022: 20).