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REGISTERED NUMBER: SC465838 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

M.A.D. CREATIVE SOLUTIONS LTD

M.A.D. CREATIVE SOLUTIONS LTD (REGISTERED NUMBER: SC465838)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


M.A.D. CREATIVE SOLUTIONS LTD

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTOR: G Gillespie



REGISTERED OFFICE: 6 Miller Road
Ayr
KA7 2AY



REGISTERED NUMBER: SC465838 (Scotland)



ACCOUNTANTS: K M Stewart & Company
6 Miller Road
Ayr
KA7 2AY



BANKERS: The Royal Bank of Scotland
Kilmarnock Branch
96 John Finnie Street
Kilmarnock
KA1 1NY

M.A.D. CREATIVE SOLUTIONS LTD (REGISTERED NUMBER: SC465838)

STATEMENT OF FINANCIAL POSITION
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 215,139 153,653

CURRENT ASSETS
Stocks 5 23,426 20,558
Debtors 6 922,521 756,607
Cash at bank 28,931 117,169
974,878 894,334
CREDITORS
Amounts falling due within one year 7 297,770 221,652
NET CURRENT ASSETS 677,108 672,682
TOTAL ASSETS LESS CURRENT
LIABILITIES

892,247

826,335

CREDITORS
Amounts falling due after more than one
year

8

(286,785

)

(299,850

)

PROVISIONS FOR LIABILITIES (13,152 ) (20,175 )
NET ASSETS 592,310 506,310

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 592,210 506,210
SHAREHOLDERS' FUNDS 592,310 506,310

M.A.D. CREATIVE SOLUTIONS LTD (REGISTERED NUMBER: SC465838)

STATEMENT OF FINANCIAL POSITION - continued
31 March 2023


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

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

The director acknowledges his 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 director and authorised for issue on 28 March 2024 and were signed by:





G Gillespie - Director


M.A.D. CREATIVE SOLUTIONS LTD (REGISTERED NUMBER: SC465838)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

M.A.D. Creative Solutions Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Functional currency
The financial statements are presented in British Pounds Sterling which is the functional currency. Figures are shown to the nearest whole pound.

Significant judgements and estimates
The preparation of financial statements requires the use of certain accounting estimates. It also requires the Directors to exercise judgement in applying the Companies Accounting policies. The areas requiring a higher degree of judgement, or complexity, and areas where assumptions or estimates are most significant to the financial statements, are disclosed below:

Estimation Uncertainty

Useful life of properties, plant and equipment
The Company assesses the useful life of its properties, plant and equipment and estimates the annual charge to be depreciated based on this.

Recoverability of Debtors
The Company assesses the recoverability of Debtors on an individual basis, taking into consideration payment history, and perceived liquidity. Where it is considered that there is a higher than normal risk to the recoverability of these, provision is made against the recoverability of these debts.

Stock Valuation
The Company assesses the carrying value of stock on at least an annual basis, taking into consideration when each item was purchased and the Company's ability to sell that particular item. Where it is considered the net realisable value of stock has fallen below its' original cost, a provision is made by Management against the stock value in the financial statements.

Key Judgements made in the application of Accounting Policies
a) Exemptions taken in the application of FRS 102
The Company has considered and taken advantage of the following exemptions in its application of FRS 102:
i) The Company has not revisited previous accounting estimates.

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 - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

M.A.D. CREATIVE SOLUTIONS LTD (REGISTERED NUMBER: SC465838)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Classification
The Company believes all financial instruments are Basic Financial Instruments. Therefore, the Company recognises these in accordance with Section 11 of the Financial Reporting Standard.

Recognition and measurement
The company's debt instruments are measured at amortised cost using the effective interest rate method.

Impairment
Financial instruments are reviewed annually for impairment.

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.

Debtors
Debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence that the asset is impaired.

Cash and cash equivalent
Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank with a short term of maturity, being twelve months or less, from the opening of the deposit or similar account.

Creditors
Creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - NIL ) .

M.A.D. CREATIVE SOLUTIONS LTD (REGISTERED NUMBER: SC465838)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 47,470 131,770 - 35,846 215,086
Additions - - 104,733 - 104,733
At 31 March 2023 47,470 131,770 104,733 35,846 319,819
DEPRECIATION
At 1 April 2022 - 51,502 - 9,931 61,433
Charge for year - 13,177 26,183 3,887 43,247
At 31 March 2023 - 64,679 26,183 13,818 104,680
NET BOOK VALUE
At 31 March 2023 47,470 67,091 78,550 22,028 215,139
At 31 March 2022 47,470 80,268 - 25,915 153,653

5. STOCKS
2023 2022
£    £   
Stocks 23,426 20,558

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 922,521 756,607

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 99,279 71,580
Hire purchase contracts 13,272 -
Trade creditors 57,625 38,939
Taxation and social security 125,344 107,630
Other creditors 2,250 3,503
297,770 221,652

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 177,706 299,850
Hire purchase contracts 109,079 -
286,785 299,850

The bank loan is repayable in instalments over 6 years. The loan is guaranteed by government and carries an interest rate of 2.5% p.a.

M.A.D. CREATIVE SOLUTIONS LTD (REGISTERED NUMBER: SC465838)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 April 2022 506,210
Profit for the year 86,000
At 31 March 2023 592,210

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
G Gillespie
Balance outstanding at start of year 586,307 21,179
Amounts advanced 215,403 617,894
Amounts repaid (45,037 ) (52,766 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 756,673 586,307

12. RELATED PARTY DISCLOSURES

During the year company has given loan and advances amounted to £164,300 to AGGA Holdings Limited. Mr. Gareth Gillespie is common director in both companies.