IRIS Accounts Production v23.3.1.45 07272014 Board of Directors 1.7.22 30.6.23 30.6.23 true false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh072720142022-06-30072720142023-06-30072720142022-07-012023-06-30072720142021-06-30072720142021-07-012022-06-30072720142022-06-3007272014ns10:Originalns15:EnglandWales2022-07-012023-06-3007272014ns14:PoundSterlingns10:Original2022-07-012023-06-3007272014ns10:Originalns10:Director12022-07-012023-06-3007272014ns10:Original2022-07-012023-06-3007272014ns10:Original2023-06-3007272014ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-3007272014ns10:Originalns10:SmallEntities2022-07-012023-06-3007272014ns10:Originalns10:AuditExempt-NoAccountantsReport2022-07-012023-06-3007272014ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3007272014ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-3007272014ns10:Originalns10:FullAccounts2022-07-012023-06-3007272014ns10:Originalns10:OrdinaryShareClass12022-07-012023-06-3007272014ns10:Original2022-06-3007272014ns10:Originalns5:CurrentFinancialInstruments2023-06-3007272014ns10:Originalns5:CurrentFinancialInstruments2022-06-3007272014ns10:Originalns5:Non-currentFinancialInstruments2023-06-3007272014ns10:Originalns5:Non-currentFinancialInstruments2022-06-3007272014ns5:ShareCapitalns10:Original2023-06-3007272014ns5:ShareCapitalns10:Original2022-06-3007272014ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3007272014ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3007272014ns10:Originalns10:RegisteredOffice2022-07-012023-06-3007272014ns10:Originalns5:PlantMachinery2022-07-012023-06-3007272014ns10:Original2021-07-012022-06-3007272014ns10:Originalns5:FurnitureFittings2022-06-3007272014ns10:Originalns5:MotorVehicles2022-06-3007272014ns10:Originalns5:ComputerEquipment2022-06-3007272014ns10:Original2022-06-3007272014ns10:Originalns5:FurnitureFittings2022-07-012023-06-3007272014ns10:Originalns5:MotorVehicles2022-07-012023-06-3007272014ns10:Originalns5:ComputerEquipment2022-07-012023-06-3007272014ns10:Originalns5:FurnitureFittings2023-06-3007272014ns10:Originalns5:MotorVehicles2023-06-3007272014ns10:Originalns5:ComputerEquipment2023-06-3007272014ns10:Originalns5:FurnitureFittings2022-06-3007272014ns10:Originalns5:MotorVehicles2022-06-3007272014ns10:Originalns5:ComputerEquipment2022-06-3007272014ns10:Originalns5:CostValuation2022-06-3007272014ns10:Originalns5:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-06-3007272014ns10:Originalns5:CostValuation2023-06-3007272014ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3007272014ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-3007272014ns10:Originalns10:OrdinaryShareClass12023-06-30
REGISTERED NUMBER: 07272014 (England and Wales)















Create IT Limited

Unaudited Financial Statements for the Year Ended 30 June 2023






Create IT Limited (Registered number: 07272014)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Balance Sheet 1

Notes to the Financial Statements 2 to 4


Create IT Limited (Registered number: 07272014)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,197 16,271
Investments 5 100 3,000
12,297 19,271

CURRENT ASSETS
Debtors 6 160,169 161,424
Cash at bank 49,679 104,194
209,848 265,618
CREDITORS
Amounts falling due within one year 7 173,246 239,334
NET CURRENT ASSETS 36,602 26,284
TOTAL ASSETS LESS CURRENT
LIABILITIES

48,899

45,555

CREDITORS
Amounts falling due after more than one year 8 (17,667 ) (28,667 )

PROVISIONS FOR LIABILITIES (2,318 ) (3,092 )
NET ASSETS 28,914 13,796

CAPITAL AND RESERVES
Called up share capital 9 3 3
Retained earnings 28,911 13,793
SHAREHOLDERS' FUNDS 28,914 13,796

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2024 and were signed on its behalf by:



C Clarke - Director


Create IT Limited (Registered number: 07272014)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. STATUTORY INFORMATION

Create IT Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07272014

Registered office: 5 West Mills
1st Floor Rear
Newbury
Berkshire
RG14 5HG

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

Create IT Limited (Registered number: 07272014)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022
and 30 June 2023 8,827 16,499 28,396 53,722
DEPRECIATION
At 1 July 2022 7,933 7,219 22,299 37,451
Charge for year 226 2,320 1,528 4,074
At 30 June 2023 8,159 9,539 23,827 41,525
NET BOOK VALUE
At 30 June 2023 668 6,960 4,569 12,197
At 30 June 2022 894 9,280 6,097 16,271

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2022 3,000
Impairments (2,900 )
At 30 June 2023 100
NET BOOK VALUE
At 30 June 2023 100
At 30 June 2022 3,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 147,502 143,905
Other debtors 12,667 17,519
160,169 161,424

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 11,500 10,500
Trade creditors 32,822 42,223
Taxation and social security 93,428 95,145
Other creditors 35,496 91,466
173,246 239,334

Create IT Limited (Registered number: 07272014)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 17,667 28,667

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
3 Ordinary £1 3 3

10. OTHER FINANCIAL COMMITMENTS

The company has total financial commitments of £38,473 ( 2022 - £28,757 ) at the year end in respect of rent and operating charges still due up to the end of their contracts.