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dpl-frs:Item6 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item6 2023-03-31 02888718 dpl-frs:DistributionCosts dpl-frs:Item6 2022-04-01 2023-03-31 02888718 dpl-frs:AdministrativeExpenses dpl-frs:Item6 2022-04-01 2023-03-31 02888718 dpl-frs:Item7 2022-04-01 2023-03-31 02888718 dpl-frs:Item7 2022-03-31 02888718 dpl-frs:Item7 2023-03-31 02888718 dpl-frs:CostSales dpl-frs:Item7 2022-04-01 2023-03-31 02888718 dpl-frs:CostSales dpl-frs:Item7 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item7 2023-03-31 02888718 dpl-frs:DistributionCosts dpl-frs:Item7 2022-04-01 2023-03-31 02888718 dpl-frs:AdministrativeExpenses dpl-frs:Item7 2022-04-01 2023-03-31 02888718 dpl-frs:Item8 2022-04-01 2023-03-31 02888718 dpl-frs:Item8 2022-03-31 02888718 dpl-frs:Item8 2023-03-31 02888718 dpl-frs:CostSales dpl-frs:Item8 2022-04-01 2023-03-31 02888718 dpl-frs:CostSales dpl-frs:Item8 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item8 2023-03-31 02888718 dpl-frs:DistributionCosts dpl-frs:Item8 2022-04-01 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frs-core:AdditionsToInvestments 2022-03-31 02888718 frs-core:DisposalsRepaymentsInvestments 2022-03-31 02888718 frs-core:RevaluationsIncreaseDecreaseInInvestments 2022-03-31 02888718 frs-core:FurtherSpecificIncreaseDecreaseInInvestments1ComponentTotalChangeInInvestments 2022-03-31 02888718 frs-core:TransfersIntoOrOutInvestmentsIncreaseDecreaseInInvestments 2022-03-31 02888718 frs-core:OtherIncreaseDecreaseInInvestments 2022-03-31 02888718 frs-core:CostValuation 2022-03-31 02888718 frs-core:ProvisionsForImpairmentInvestments 2021-03-31 02888718 frs-core:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments 2022-03-31 02888718 frs-core:DisposalsDecreaseInProvisionsForImpairmentInvestments 2022-03-31 02888718 frs-core:ImpairmentLossProvisionsForImpairmentInvestments 2022-03-31 02888718 frs-core:ImpairmentReversalProvisionsForImpairmentInvestments 2022-03-31 02888718 frs-core:FurtherSpecificIncreaseDecreaseInProvisionsForImpairmentInvestments1ComponentCorrespondingTotal 2022-03-31 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frs-core:OtherIncreaseDecreaseInInvestments frs-core:ListedExchangeTraded 2022-03-31 02888718 frs-core:CostValuation frs-core:ListedExchangeTraded 2022-03-31 02888718 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2021-03-31 02888718 frs-core:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-03-31 02888718 frs-core:DisposalsDecreaseInProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-03-31 02888718 frs-core:ImpairmentLossProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-03-31 02888718 frs-core:ImpairmentReversalProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-03-31 02888718 frs-core:FurtherSpecificIncreaseDecreaseInProvisionsForImpairmentInvestments1ComponentCorrespondingTotal frs-core:ListedExchangeTraded 2022-03-31 02888718 frs-core:TransfersIntoOrOutInvestmentsIncreaseDecreaseInProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-03-31 02888718 frs-core:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-03-31 02888718 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-03-31 02888718 frs-core:UnlistedNon-exchangeTraded 2022-03-31 02888718 frs-core:UnlistedNon-exchangeTraded 2021-03-31 02888718 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2021-03-31 02888718 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2022-03-31 02888718 frs-core:DisposalsRepaymentsInvestments frs-core:UnlistedNon-exchangeTraded 2022-03-31 02888718 frs-core:RevaluationsIncreaseDecreaseInInvestments frs-core:UnlistedNon-exchangeTraded 2022-03-31 02888718 frs-core:FurtherSpecificIncreaseDecreaseInInvestments1ComponentTotalChangeInInvestments frs-core:UnlistedNon-exchangeTraded 2022-03-31 02888718 frs-core:TransfersIntoOrOutInvestmentsIncreaseDecreaseInInvestments frs-core:UnlistedNon-exchangeTraded 2022-03-31 02888718 frs-core:OtherIncreaseDecreaseInInvestments frs-core:UnlistedNon-exchangeTraded 2022-03-31 02888718 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-03-31 02888718 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2021-03-31 02888718 frs-core:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-03-31 02888718 frs-core:DisposalsDecreaseInProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-03-31 02888718 frs-core:ImpairmentLossProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-03-31 02888718 frs-core:ImpairmentReversalProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-03-31 02888718 frs-core:FurtherSpecificIncreaseDecreaseInProvisionsForImpairmentInvestments1ComponentCorrespondingTotal frs-core:UnlistedNon-exchangeTraded 2022-03-31 02888718 frs-core:TransfersIntoOrOutInvestmentsIncreaseDecreaseInProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-03-31 02888718 frs-core:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-03-31 02888718 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-03-31 02888718 dpl-frs:CostSales 2021-04-01 2022-03-31 02888718 dpl-frs:CostSales 2021-03-31 02888718 dpl-frs:CostSales 2022-03-31 02888718 dpl-frs:DistributionCosts 2021-04-01 2022-03-31 02888718 dpl-frs:AdministrativeExpenses 2021-04-01 2022-03-31 02888718 frs-bus:Director1 2021-04-01 2022-03-31 02888718 frs-bus:Director1 2021-03-31 02888718 frs-bus:Director1 2022-03-31 02888718 frs-bus:Director2 2021-04-01 2022-03-31 02888718 frs-bus:Director2 2021-03-31 02888718 frs-bus:Director2 2022-03-31 02888718 frs-bus:Director3 2021-04-01 2022-03-31 02888718 frs-bus:Director3 2021-03-31 02888718 frs-bus:Director3 2022-03-31 02888718 frs-bus:Director4 2021-04-01 2022-03-31 02888718 frs-bus:Director4 2021-03-31 02888718 frs-bus:Director4 2022-03-31 02888718 frs-bus:CompanySecretary1 2021-04-01 2022-03-31 02888718 1 2021-04-01 2022-03-31 02888718 frs-core:CurrentFinancialInstruments 1 2022-03-31 02888718 frs-core:Non-currentFinancialInstruments 1 2022-03-31 02888718 2 2021-04-01 2022-03-31 02888718 frs-core:CurrentFinancialInstruments 2 2022-03-31 02888718 frs-core:Non-currentFinancialInstruments 2 2022-03-31 02888718 3 2021-04-01 2022-03-31 02888718 frs-core:CurrentFinancialInstruments 3 2022-03-31 02888718 frs-core:Non-currentFinancialInstruments 3 2022-03-31 02888718 4 2021-04-01 2022-03-31 02888718 frs-core:CurrentFinancialInstruments 4 2022-03-31 02888718 frs-core:Non-currentFinancialInstruments 4 2022-03-31 02888718 5 2021-04-01 2022-03-31 02888718 frs-core:CurrentFinancialInstruments 5 2022-03-31 02888718 frs-core:Non-currentFinancialInstruments 5 2022-03-31 02888718 6 2021-04-01 2022-03-31 02888718 frs-core:CurrentFinancialInstruments 6 2022-03-31 02888718 frs-core:Non-currentFinancialInstruments 6 2022-03-31 02888718 7 2021-04-01 2022-03-31 02888718 frs-core:CurrentFinancialInstruments 7 2022-03-31 02888718 frs-core:Non-currentFinancialInstruments 7 2022-03-31 02888718 8 2021-04-01 2022-03-31 02888718 frs-core:CurrentFinancialInstruments 8 2022-03-31 02888718 frs-core:Non-currentFinancialInstruments 8 2022-03-31 02888718 9 2021-04-01 2022-03-31 02888718 frs-core:CurrentFinancialInstruments 9 2022-03-31 02888718 frs-core:Non-currentFinancialInstruments 9 2022-03-31 02888718 10 2021-04-01 2022-03-31 02888718 frs-core:CurrentFinancialInstruments 10 2022-03-31 02888718 frs-core:Non-currentFinancialInstruments 10 2022-03-31 02888718 11 2021-04-01 2022-03-31 02888718 frs-core:CurrentFinancialInstruments 11 2022-03-31 02888718 frs-core:Non-currentFinancialInstruments 11 2022-03-31 02888718 12 2021-04-01 2022-03-31 02888718 frs-core:CurrentFinancialInstruments 12 2022-03-31 02888718 frs-core:Non-currentFinancialInstruments 12 2022-03-31 02888718 13 2021-04-01 2022-03-31 02888718 frs-core:CurrentFinancialInstruments 13 2022-03-31 02888718 frs-core:Non-currentFinancialInstruments 13 2022-03-31 02888718 14 2021-04-01 2022-03-31 02888718 frs-core:CurrentFinancialInstruments 14 2022-03-31 02888718 frs-core:Non-currentFinancialInstruments 14 2022-03-31 02888718 15 2021-04-01 2022-03-31 02888718 frs-core:CurrentFinancialInstruments 15 2022-03-31 02888718 frs-core:Non-currentFinancialInstruments 15 2022-03-31 02888718 16 2021-04-01 2022-03-31 02888718 frs-core:CurrentFinancialInstruments 16 2022-03-31 02888718 frs-core:Non-currentFinancialInstruments 16 2022-03-31 02888718 17 2021-04-01 2022-03-31 02888718 frs-core:CurrentFinancialInstruments 17 2022-03-31 02888718 frs-core:Non-currentFinancialInstruments 17 2022-03-31 02888718 18 2021-04-01 2022-03-31 02888718 frs-core:CurrentFinancialInstruments 18 2022-03-31 02888718 frs-core:Non-currentFinancialInstruments 18 2022-03-31 02888718 19 2021-04-01 2022-03-31 02888718 frs-core:CurrentFinancialInstruments 19 2022-03-31 02888718 frs-core:Non-currentFinancialInstruments 19 2022-03-31 02888718 20 2021-04-01 2022-03-31 02888718 frs-core:CurrentFinancialInstruments 20 2022-03-31 02888718 frs-core:Non-currentFinancialInstruments 20 2022-03-31 02888718 dpl-frs:Item1 2021-04-01 2022-03-31 02888718 dpl-frs:Item1 2021-03-31 02888718 dpl-frs:Item1 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item1 2021-04-01 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item1 2021-03-31 02888718 dpl-frs:CostSales dpl-frs:Item1 2022-03-31 02888718 dpl-frs:DistributionCosts dpl-frs:Item1 2021-04-01 2022-03-31 02888718 dpl-frs:AdministrativeExpenses dpl-frs:Item1 2021-04-01 2022-03-31 02888718 dpl-frs:Item2 2021-04-01 2022-03-31 02888718 dpl-frs:Item2 2021-03-31 02888718 dpl-frs:Item2 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item2 2021-04-01 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item2 2021-03-31 02888718 dpl-frs:CostSales dpl-frs:Item2 2022-03-31 02888718 dpl-frs:DistributionCosts dpl-frs:Item2 2021-04-01 2022-03-31 02888718 dpl-frs:AdministrativeExpenses dpl-frs:Item2 2021-04-01 2022-03-31 02888718 dpl-frs:Item3 2021-04-01 2022-03-31 02888718 dpl-frs:Item3 2021-03-31 02888718 dpl-frs:Item3 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item3 2021-04-01 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item3 2021-03-31 02888718 dpl-frs:CostSales dpl-frs:Item3 2022-03-31 02888718 dpl-frs:DistributionCosts dpl-frs:Item3 2021-04-01 2022-03-31 02888718 dpl-frs:AdministrativeExpenses dpl-frs:Item3 2021-04-01 2022-03-31 02888718 dpl-frs:Item4 2021-04-01 2022-03-31 02888718 dpl-frs:Item4 2021-03-31 02888718 dpl-frs:Item4 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item4 2021-04-01 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item4 2021-03-31 02888718 dpl-frs:CostSales dpl-frs:Item4 2022-03-31 02888718 dpl-frs:DistributionCosts dpl-frs:Item4 2021-04-01 2022-03-31 02888718 dpl-frs:AdministrativeExpenses dpl-frs:Item4 2021-04-01 2022-03-31 02888718 dpl-frs:Item5 2021-04-01 2022-03-31 02888718 dpl-frs:Item5 2021-03-31 02888718 dpl-frs:Item5 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item5 2021-04-01 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item5 2021-03-31 02888718 dpl-frs:CostSales dpl-frs:Item5 2022-03-31 02888718 dpl-frs:DistributionCosts dpl-frs:Item5 2021-04-01 2022-03-31 02888718 dpl-frs:AdministrativeExpenses dpl-frs:Item5 2021-04-01 2022-03-31 02888718 dpl-frs:Item6 2021-04-01 2022-03-31 02888718 dpl-frs:Item6 2021-03-31 02888718 dpl-frs:Item6 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item6 2021-04-01 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item6 2021-03-31 02888718 dpl-frs:CostSales dpl-frs:Item6 2022-03-31 02888718 dpl-frs:DistributionCosts dpl-frs:Item6 2021-04-01 2022-03-31 02888718 dpl-frs:AdministrativeExpenses dpl-frs:Item6 2021-04-01 2022-03-31 02888718 dpl-frs:Item7 2021-04-01 2022-03-31 02888718 dpl-frs:Item7 2021-03-31 02888718 dpl-frs:Item7 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item7 2021-04-01 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item7 2021-03-31 02888718 dpl-frs:CostSales dpl-frs:Item7 2022-03-31 02888718 dpl-frs:DistributionCosts dpl-frs:Item7 2021-04-01 2022-03-31 02888718 dpl-frs:AdministrativeExpenses dpl-frs:Item7 2021-04-01 2022-03-31 02888718 dpl-frs:Item8 2021-04-01 2022-03-31 02888718 dpl-frs:Item8 2021-03-31 02888718 dpl-frs:Item8 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item8 2021-04-01 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item8 2021-03-31 02888718 dpl-frs:CostSales dpl-frs:Item8 2022-03-31 02888718 dpl-frs:DistributionCosts dpl-frs:Item8 2021-04-01 2022-03-31 02888718 dpl-frs:AdministrativeExpenses dpl-frs:Item8 2021-04-01 2022-03-31 02888718 dpl-frs:Item9 2021-04-01 2022-03-31 02888718 dpl-frs:Item9 2021-03-31 02888718 dpl-frs:Item9 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item9 2021-04-01 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item9 2021-03-31 02888718 dpl-frs:CostSales dpl-frs:Item9 2022-03-31 02888718 dpl-frs:DistributionCosts dpl-frs:Item9 2021-04-01 2022-03-31 02888718 dpl-frs:AdministrativeExpenses dpl-frs:Item9 2021-04-01 2022-03-31 02888718 dpl-frs:Item10 2021-04-01 2022-03-31 02888718 dpl-frs:Item10 2021-03-31 02888718 dpl-frs:Item10 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item10 2021-04-01 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item10 2021-03-31 02888718 dpl-frs:CostSales dpl-frs:Item10 2022-03-31 02888718 dpl-frs:DistributionCosts dpl-frs:Item10 2021-04-01 2022-03-31 02888718 dpl-frs:AdministrativeExpenses dpl-frs:Item10 2021-04-01 2022-03-31 02888718 dpl-frs:Item11 2021-04-01 2022-03-31 02888718 dpl-frs:Item11 2021-03-31 02888718 dpl-frs:Item11 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item11 2021-04-01 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item11 2021-03-31 02888718 dpl-frs:CostSales dpl-frs:Item11 2022-03-31 02888718 dpl-frs:DistributionCosts dpl-frs:Item11 2021-04-01 2022-03-31 02888718 dpl-frs:AdministrativeExpenses dpl-frs:Item11 2021-04-01 2022-03-31 02888718 dpl-frs:Item12 2021-04-01 2022-03-31 02888718 dpl-frs:Item12 2021-03-31 02888718 dpl-frs:Item12 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item12 2021-04-01 2022-03-31 02888718 dpl-frs:CostSales dpl-frs:Item12 2021-03-31 02888718 dpl-frs:CostSales dpl-frs:Item12 2022-03-31 02888718 dpl-frs:DistributionCosts dpl-frs:Item12 2021-04-01 2022-03-31 02888718 dpl-frs:AdministrativeExpenses dpl-frs:Item12 2021-04-01 2022-03-31 02888718 1 2021-04-01 2022-03-31 02888718 frs-countries:EnglandWales 2021-04-01 2022-03-31
Registered number: 02888718
K4 Creative Limited
Unaudited Financial Statements
For The Year Ended 31 March 2023
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 02888718
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 8,883 7,495
8,883 7,495
CURRENT ASSETS
Debtors 6 95,782 108,778
Cash at bank and in hand 60,528 164,464
156,310 273,242
Creditors: Amounts Falling Due Within One Year 7 (81,658 ) (82,595 )
NET CURRENT ASSETS (LIABILITIES) 74,652 190,647
TOTAL ASSETS LESS CURRENT LIABILITIES 83,535 198,142
Creditors: Amounts Falling Due After More Than One Year 8 (35,427 ) (44,527 )
NET ASSETS 48,108 153,615
CAPITAL AND RESERVES
Called up share capital 9 200 200
Share premium account 13,950 13,950
Capital redemption reserve 30 30
Income Statement 33,928 139,435
SHAREHOLDERS' FUNDS 48,108 153,615
Page 1
Page 2
For the year ending 31 March 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
H R Kallaway
Director
28 March 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
K4 Creative Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02888718 . The registered office is 2 Portland Road, London, W11 4LA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. 
2.2. Significant judgements and estimations
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
In preparing these financial statements the directors have made the following judgements:
- Determined whether there are indicators of impairment of the company's tangible assets and intangible assets. Factors taken into consideration in reaching such a decision include the financial viability and expected future financial performance of the asset.
- Determined that the accounting policies in place in respect of turnover recognition and measurement are reasonable.
2.3. Turnover
Turnover is recognised the the extent that is it probable the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of consideration received or receivable, excluding discounts, rebates, valued added tax and other sales taxes.
Turnover is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of the turnover can be reliably measured;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be reliably measured.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold 10% per annum straight line
Plant & Machinery 33.33% per annum straight line
Computer Equipment 33.33% per annum straight line
Page 3
Page 4
2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
2.7. Foreign Currencies
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2.8. 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 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.
2.9. Pensions
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.
2.10. Government Grant
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
Page 4
Page 5
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: 4)
5 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2022 11,000
As at 31 March 2023 11,000
Amortisation
As at 1 April 2022 11,000
As at 31 March 2023 11,000
Net Book Value
As at 31 March 2023 -
As at 1 April 2022 -
5. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 April 2022 18,475 171,182 189,657
Additions - 3,920 3,920
As at 31 March 2023 18,475 175,102 193,577
Depreciation
As at 1 April 2022 10,980 171,182 182,162
Provided during the period 1,848 684 2,532
As at 31 March 2023 12,828 171,866 184,694
Net Book Value
As at 31 March 2023 5,647 3,236 8,883
As at 1 April 2022 7,495 - 7,495
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 73,501 87,895
Other debtors 22,281 20,883
95,782 108,778
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 23,149 13,395
Bank loans and overdrafts 9,100 9,605
Amounts owed to group undertakings 16,831 -
Other creditors 11,514 22,338
Taxation and social security 21,064 37,257
81,658 82,595
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 27,359 36,459
Amounts owed to group undertakings 8,068 8,068
35,427 44,527
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 200 200
10. Related Party Transactions
During the year the company entered into the following transactions with related parties.
The company transacted business with Kallaway Group Limited and Kallaway Limited, companies ultimately controlled by Mr W R Kallaway and Mrs R J Kallaway who also have majority control of K4 Creative Holdings Limited, the parent company of K4 Creative Limited. The transactions in the year to 31 March 2023 are summarised as follows:
Rent of £30,000 (2022: £30,000) was payable to Kallaway Group Limited.
At 31 March 2023, the company owed Kallaway Limited £2,054 (2022: £2,054), K4 Creative Holdings Limited £8,068 (2022: £8,068) and Kallaway Group Limited £16,831 (2022: the company was owed £226).
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