Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-06-01false22truetrue 11148216 2022-06-01 2023-05-31 11148216 2021-06-01 2022-05-31 11148216 2023-05-31 11148216 2022-05-31 11148216 c:Director2 2022-06-01 2023-05-31 11148216 d:CurrentFinancialInstruments 2023-05-31 11148216 d:CurrentFinancialInstruments 2022-05-31 11148216 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 11148216 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 11148216 d:ShareCapital 2023-05-31 11148216 d:ShareCapital 2022-05-31 11148216 d:RetainedEarningsAccumulatedLosses 2023-05-31 11148216 d:RetainedEarningsAccumulatedLosses 2022-05-31 11148216 c:EntityNoLongerTradingButTradedInPast 2022-06-01 2023-05-31 11148216 c:FRS102 2022-06-01 2023-05-31 11148216 c:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 11148216 c:FullAccounts 2022-06-01 2023-05-31 11148216 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 11148216 2 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 11148216










SF Creative Ltd (formerly Forza Wholesale Ltd)








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 May 2023





 
SF Creative Ltd
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of SF Creative Ltd for the period ended 31 May 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SF Creative Ltd for the period ended 31 May 2023 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of SF Creative Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of SF Creative Ltd  and state those matters that we have agreed to state to the Board of directors of SF Creative Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SF Creative Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that SF Creative Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of SF Creative Ltd. You consider that SF Creative Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of SF Creative Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
 
Chartered Accountants
  
Montague Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QU
25 January 2024
Page 1

 
SF Creative Ltd
Registered number: 11148216

Balance sheet
As at 31 May 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
-
24,596

Cash at bank and in hand
  
5,733
46,147

  
5,733
70,743

Creditors: amounts falling due within one year
 5 
(134,359)
(199,078)

Net current liabilities
  
 
 
(128,626)
 
 
(128,335)

Total assets less current liabilities
  
(128,626)
(128,335)

  

Net liabilities
  
(128,626)
(128,335)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(128,726)
(128,435)

  
(128,626)
(128,335)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 January 2024.




W Selfe
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
SF Creative Ltd
 

 
Notes to the financial statements
For the period ended 31 May 2023

1.


General information

SF Creative Ltd (formerly Forza Wholesale Ltd) is a limited liability company incorporated in England and Wales, with the registration number 11148216. The address of the company's registered office address is 2nd Floor, 168 Shoreditch High Street, London, England, E1 6RA. The address of the company's principle place of business is Unit 5 Javelin Enterprise Park, Javelin Way, Ashford, Kent, TN24 8DE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The company is fully supported financially by group entities and taking into consideration the company's planning, the directors have a reasonable expectation that the company and group will continue in operational existence for the foreseeable future.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Page 3

 
SF Creative Ltd
 

 
Notes to the financial statements
For the period ended 31 May 2023

2.Accounting policies (continued)

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
2
2


4.


Debtors

2023
2022
£
£


Other debtors
-
24,596


Page 4

 
SF Creative Ltd
 

 
Notes to the financial statements
For the period ended 31 May 2023

5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
130,000
180,000

Corporation tax
-
15,478

Other taxation and social security
759
-

Accruals and deferred income
3,600
3,600

134,359
199,078



6.


Related party transactions

The company has taken advantage of the exemption to not disclose group transactions undertaken at market rate. 


7.


Controlling party

The ultimate parent undertaking of the company is Forza International Group Limited, a company incorporated in England and Wales, where the ultimate controlling party is L N Smith by virtue of his 75% shareholding. 


Page 5