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REGISTERED NUMBER: 02738102















Unaudited Financial Statements for the Year Ended 31 December 2023

for

One Creative Environments Limited

One Creative Environments Limited (Registered number: 02738102)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountant's Report 8

One Creative Environments Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M Tebbatt
M Martin
J Lawrence
J Whittall
C Walding
A Randera
G Vickers





REGISTERED OFFICE: 5 The Triangle
Wildwood Drive
Worcester
Worcestershire
WR5 2QX





REGISTERED NUMBER: 02738102





ACCOUNTANT: Giles Owen Chartered Accountant
1 Croft Lane
Temple Grafton
Alcester
Warwickshire
B49 6PA

One Creative Environments Limited (Registered number: 02738102)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 131,522 100,973
Property, plant and equipment 5 115,010 81,864
246,532 182,837

CURRENT ASSETS
Inventories 400,649 177,354
Debtors: trade & other 6 1,508,543 1,314,334
Cash at bank and in hand 425,372 402,876
2,334,564 1,894,564
CREDITORS
Amounts falling due within one year 7 1,305,200 914,133
NET CURRENT ASSETS 1,029,364 980,431
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,275,896

1,163,268

CAPITAL AND RESERVES
Called up share capital 260,000 260,000
Other reserves 352,932 352,932
Retained earnings 662,964 550,336
SHAREHOLDERS' FUNDS 1,275,896 1,163,268

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

One Creative Environments Limited (Registered number: 02738102)

Statement of Financial Position - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 January 2024 and were signed on its behalf by:





M Tebbatt - Director


One Creative Environments Limited (Registered number: 02738102)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

ONE Creative Environments Limited is a company limited by shares and is incorporated in England and Wales. The address of the registered office is 5 The Triangle, Wildwood Drive, Worcester, Worcestershire, WR5 2QX. The financial statements comprise the unaudited financial statements of the Company up to 31 December each year and are stated in pound sterling, the company's functional and presentational currency. The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years provided unless otherwise stated.

2. ACCOUNTING POLICIES

General information and basis of accounting
The company's financial statements have been prepared in compliance with the small companies regime as set out in Section 1A of FRS 102 "The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland" and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention and on a going concern basis as modified by the revaluation of land and buildings held as investment property.

Exemptions
The Company meets the definition of a qualifying entity under FRS102 and has therefore taken advantage of the disclosure exemptions available to it in respect of:

1- The requirement to draw up a cashflow statement in accordance with section 7.

2- Not to disclose related party transactions with two or more members of a group provided that any
subsidiary which is party to that transaction is wholly owned.

Revenue recognition
Revenue comprises the value of services supplied during the period to external customers to the extent that there is a right to receive consideration and is recorded at the fair value of consideration received or receivable excluding value added tax.

Fee income represents invoiced amounts for work performed (exclusive of value added tax) and the movement in the unbilled debtors held on the balance sheet from the previous year.

All revenue is attributable to one class of business and arose in the United Kingdom.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Software Development costs are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold Improvements - 10% on cost
Fixture and Fittings - 25% on cost
Motor Vehicles - 25% on reducing balance
Computer Equipment - 25% on cost

One Creative Environments Limited (Registered number: 02738102)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Inventories
Inventories comprises the cost and profit element of unbilled services, calculated on an individual contract basis to recognise income on the basis of percentage complete.

Cost is calculated to include the salaries and overheads which are directly attributable to fee earning staff.

The profit element of each contract is recognised in line with the stage of completion at the end of the financial year so as to achieve a constant percentage profit over the life of the contract. The risk of failure and recoverability of amounts due on each project is assessed and the recoverability of consideration accrued amended accordingly.

When it is probable that total contract costs will exceed total revenue, the expected loss is recognised as an expense immediately.

Taxation
Taxation expense for the year comprises current and deferred tax recognized in the period. Tax is recognized in the statement of comprehensive income.

Current tax is the amount of UK corporation tax payable in respect of the taxable profit for the year or prior years calculated using the tax rates and laws that that have been enacted or substantively enacted at the reporting date.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognized in financial statements.

Deferred tax is recognized on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognized 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 rates and laws that have been enacted or substantively enacted at the reporting date and are expected to apply to the reversal of the timing difference.

Leasing income and expense
Rentals under operating leases are charged to the income statement on a straight line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight basis over the lease term

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 56 (2022 - 48 ) .

One Creative Environments Limited (Registered number: 02738102)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 100,973
Additions 30,549
At 31 December 2023 131,522
NET BOOK VALUE
At 31 December 2023 131,522
At 31 December 2022 100,973

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Leasehold and Motor Computer
improvements fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 38,940 157,047 1,667 212,182 409,836
Additions - 26,195 - 48,953 75,148
Disposals - (50,519 ) - (6,150 ) (56,669 )
At 31 December 2023 38,940 132,723 1,667 254,985 428,315
DEPRECIATION
At 1 January 2023 38,939 154,571 1,667 132,795 327,972
Charge for year - 3,583 - 38,419 42,002
Eliminated on disposal - (50,519 ) - (6,150 ) (56,669 )
At 31 December 2023 38,939 107,635 1,667 165,064 313,305
NET BOOK VALUE
At 31 December 2023 1 25,088 - 89,921 115,010
At 31 December 2022 1 2,476 - 79,387 81,864

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,098,890 928,069
Other debtors 409,653 386,265
1,508,543 1,314,334

One Creative Environments Limited (Registered number: 02738102)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 226,791 116,773
Taxation and social security 350,626 343,342
Other creditors 727,783 454,018
1,305,200 914,133

8. ULTIMATE CONTROLLING PARTY

The immediate parent company and ultimate controlling party is OCE Holdco Limited.

Chartered Accountant's Report to the Board of Directors
on the Unaudited Financial Statements of
One Creative Environments Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of One Creative Environments Limited for the year ended 31 December 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given me.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of One Creative Environments Limited, as a body, in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of One Creative Environments Limited and state those matters that I have agreed to state to the Board of Directors of One Creative Environments Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for my work or for this report.

It is your duty to ensure that One Creative Environments Limited 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 profit of One Creative Environments Limited. You consider that One Creative Environments Limited is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of One Creative Environments Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.






Giles Owen Chartered Accountant
1 Croft Lane
Temple Grafton
Alcester
Warwickshire
B49 6PA


26 January 2024