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COMPANY REGISTRATION NUMBER: 09128391
Splendid Creative Limited
Filleted Unaudited Abridged Financial Statements
For the year ended
31 October 2023
R E Jones & Co.
Splendid Creative Limited
Abridged Financial Statements
Year ended 31 October 2023
Contents
Pages
Officers and professional advisers
1
Abridged statement of financial position
2 to 3
Notes to the abridged financial statements
4 to 6
R E Jones & Co.
Splendid Creative Limited
Officers and Professional Advisers
Director
K Frampton
Registered office
The Dairy
5 Marischal Road
Lewisham
London
United Kingdom
SE13 5LE
Accountants
R. E. Jones & Co.
Chartered accountants
132 Burnt Ash Road
Lee
London
SE12 8PU
Bankers
National Westminster Bank plc
Western Avenue
Waterside
Chatham
Kent
ME4 4RT
R E Jones & Co.
Splendid Creative Limited
Abridged Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
2,129
1,874
Current assets
Debtors
18,531
6,344
Cash at bank and in hand
9,094
16,396
---------
---------
27,625
22,740
Creditors: amounts falling due within one year
11,483
6,234
---------
---------
Net current assets
16,142
16,506
---------
---------
Total assets less current liabilities
18,271
18,380
---------
---------
Net assets
18,271
18,380
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
18,171
18,280
---------
---------
Shareholders funds
18,271
18,380
---------
---------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.
R E Jones & Co.
Splendid Creative Limited
Abridged Statement of Financial Position (continued)
31 October 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 31 July 2024 , and are signed on behalf of the board by:
K Frampton
Director
Company registration number: 09128391
R E Jones & Co.
Splendid Creative Limited
Notes to the Abridged Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Dairy, 5 Marischal Road, Lewisham, London, SE13 5LE, United Kingdom.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences to the extent that it is considered that a net liability may arise.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
£
Cost
At 1 November 2022
7,506
Additions
965
-------
At 31 October 2023
8,471
-------
Depreciation
At 1 November 2022
5,632
Charge for the year
710
-------
At 31 October 2023
6,342
-------
Carrying amount
At 31 October 2023
2,129
-------
At 31 October 2022
1,874
-------
6. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
K Frampton
( 32)
( 435)
( 467)
----
----
----
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
K Frampton
( 1,718)
1,686
( 32)
-------
-------
----
7. Related party transactions
The company was under the control of Ms K Frampton throughout the current period. Ms K Frampton is the managing director and majority shareholder. There were no other transactions with related parties that required disclosure under FRS102.