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Registered number: 12933104
Choice Creative Development Ltd
Financial Statements
For The Year Ended 31 October 2023
William Price & Co Limited
Chartered Accountants
Westbury Court Church Road
Westbury On Trym
Bristol
BS9 3EF
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12933104
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,975 2,490
1,975 2,490
CURRENT ASSETS
Debtors 5 27,035 17,368
Cash at bank and in hand 81,950 62,990
108,985 80,358
Creditors: Amounts Falling Due Within One Year 6 (85,200 ) (81,660 )
NET CURRENT ASSETS (LIABILITIES) 23,785 (1,302 )
TOTAL ASSETS LESS CURRENT LIABILITIES 25,760 1,188
NET ASSETS 25,760 1,188
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 25,660 1,088
SHAREHOLDERS' FUNDS 25,760 1,188
Page 1
Page 2
For the year ending 31 October 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 Profit and Loss Account.
On behalf of the board
D A Lewis
Director
18 March 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Choice Creative Development Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12933104 . The registered office is Westbury Court, Church Road, Westbury-On-Trym, Bristol, BS9 3EF.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 5 years straight line
Computer Equipment 5 years straight line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
Page 3
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 November 2022 2,650 1,018 3,668
Additions - 635 635
Disposals (483 ) - (483 )
As at 31 October 2023 2,167 1,653 3,820
Depreciation
As at 1 November 2022 770 408 1,178
Provided during the period 433 331 764
Disposals (97 ) - (97 )
As at 31 October 2023 1,106 739 1,845
Net Book Value
As at 31 October 2023 1,061 914 1,975
As at 1 November 2022 1,880 610 2,490
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 26,917 17,368
Prepayments and accrued income 118 -
27,035 17,368
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 108 -
Bank loans and overdrafts 1,460 -
Other taxes and social security 18,628 14,989
VAT 8,021 -
Other creditors 55,933 65,761
Accruals and deferred income 1,050 910
85,200 81,660
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Page 5
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 5