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REGISTERED NUMBER: 05199507 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

CREATIVE SPONGE LIMITED

CREATIVE SPONGE LIMITED (REGISTERED NUMBER: 05199507)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


CREATIVE SPONGE LIMITED (REGISTERED NUMBER: 05199507)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,208 33,089

CURRENT ASSETS
Work in progress - 9,500
Debtors 5 115,860 108,982
Cash at bank 65,312 -
181,172 118,482
CREDITORS
Amounts falling due within one year 6 151,451 141,512
NET CURRENT ASSETS/(LIABILITIES) 29,721 (23,030 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

60,929

10,059

CREDITORS
Amounts falling due after more than one
year

7

51,771

72,394
NET ASSETS/(LIABILITIES) 9,158 (62,335 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 9,058 (62,435 )
SHAREHOLDERS' FUNDS 9,158 (62,335 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 April 2024 and were signed by:





Mr A A Tosh - Director


CREATIVE SPONGE LIMITED (REGISTERED NUMBER: 05199507)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Creative Sponge 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: 05199507

Registered office: Studio 5.4
Fuel Studios
Pottergate
Norwich
Norfolk
NR2 1DX

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 represents the fair value of services provided during the year. Turnover is recognised as contract activity progresses and the right to consideration is earned. Fair value reflects the amount expected to be recoverable from clients. Turnover excludes value added tax.

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 cost and 15% on reducing balance

Stocks
Work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

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.

CREATIVE SPONGE LIMITED (REGISTERED NUMBER: 05199507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

3. EMPLOYEES

The average number of employees during the year was 8 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 177,134
Additions 7,363
At 31 August 2023 184,497
DEPRECIATION
At 1 September 2022 144,045
Charge for year 9,244
At 31 August 2023 153,289
NET BOOK VALUE
At 31 August 2023 31,208
At 31 August 2022 33,089

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 104,671 85,432
Other debtors 11,189 23,550
115,860 108,982

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 24,683 37,738
Trade creditors 30,601 35,741
Taxation and social security 83,535 64,198
Other creditors 12,632 3,835
151,451 141,512

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 51,771 72,394

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 76,454 102,912

CREATIVE SPONGE LIMITED (REGISTERED NUMBER: 05199507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
55 Ordinary A £1 55 55
40 Ordinary B £1 40 40
5 Ordinary C £1 5 5
100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
Mr A A Tosh
Balance outstanding at start of year 1,653 50
Amounts advanced 59,701 34,520
Amounts repaid (57,271 ) (32,917 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,083 1,653

Interest of £nil (2022 - £nil) was charged on the loans to the directors. The loans are unsecured and repayable on demand.