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REGISTERED NUMBER: 06598803 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Create Network Limited

Create Network Limited (Registered number: 06598803)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Create Network Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mrs J M Chapman





REGISTERED OFFICE: Second Floor
2 Walsworth Road
Hitchin
Hertfordshire
SG5 2HL





REGISTERED NUMBER: 06598803 (England and Wales)





ACCOUNTANTS: D and E Accountancy Ltd
Tax Advisors and Accountants
2nd Floor, 2 Walsworth Road
Hitchin
Hertfordshire
SG4 9SP

Create Network Limited (Registered number: 06598803)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 699 701

CURRENT ASSETS
Stocks 1,170 190
Debtors 5 19,304 18,466
Cash at bank 1,182 2,802
21,656 21,458
CREDITORS
Amounts falling due within one year 6 18,792 16,827
NET CURRENT ASSETS 2,864 4,631
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,563

5,332

CREDITORS
Amounts falling due after more than
one year

7

(3,382

)

(4,993

)

PROVISIONS FOR LIABILITIES 8 (133 ) (131 )
NET ASSETS 48 208

CAPITAL AND RESERVES
Called up share capital 9 200 200
Retained earnings (152 ) 8
SHAREHOLDERS' FUNDS 48 208

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Create Network Limited (Registered number: 06598803)

Balance Sheet - continued
31 March 2024


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 19 July 2024 and were signed by:





Mrs J M Chapman - Director


Create Network Limited (Registered number: 06598803)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Create Network Limited is a private company, limited by shares , registered in England and Wales. 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.

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.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Create Network Limited (Registered number: 06598803)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 862 3,347 4,209
Additions 104 179 283
At 31 March 2024 966 3,526 4,492
DEPRECIATION
At 1 April 2023 474 3,034 3,508
Charge for year 123 162 285
At 31 March 2024 597 3,196 3,793
NET BOOK VALUE
At 31 March 2024 369 330 699
At 31 March 2023 388 313 701

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 2,609 4,358
Other debtors 16,695 14,108
19,304 18,466

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 3,862 6,254
Trade creditors 845 -
Taxation and social security 12,821 9,310
Other creditors 1,264 1,263
18,792 16,827

Create Network Limited (Registered number: 06598803)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 3,382 4,993

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 133 131

Deferred
tax
£   
Balance at 1 April 2023 131
Charge to Income Statement during year 2
Balance at 31 March 2024 133

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
200 Ordinary £1 200 200

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mrs J M Chapman
Balance outstanding at start of year 10,609 6,520
Amounts advanced 2,588 4,089
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,197 10,609

11. ULTIMATE CONTROLLING PARTY

At the balance sheet date the director controlled the Company.

Shortly after the year end the director repaid £3,900 of her borrowing.

The director received dividends of £14,825 within the year, (Last year £16,450).