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REGISTERED NUMBER: 01779889 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

CREATIVE ADVANCES LIMITED

CREATIVE ADVANCES LIMITED (REGISTERED NUMBER: 01779889)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CREATIVE ADVANCES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Mrs J Cownie





REGISTERED OFFICE: Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ





REGISTERED NUMBER: 01779889 (England and Wales)





ACCOUNTANTS: Lewis Brownlee (Chichester) Limited
Chartered Accountants
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ

CREATIVE ADVANCES LIMITED (REGISTERED NUMBER: 01779889)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 440,192 409,257

CURRENT ASSETS
Debtors 5 4,205 1,081
Prepayments and accrued income 87,941 117,608
Cash at bank and in hand 473,073 420,833
565,219 539,522
CREDITORS
Amounts falling due within one year 6 83,414 88,938
NET CURRENT ASSETS 481,805 450,584
TOTAL ASSETS LESS CURRENT
LIABILITIES

921,997

859,841

PROVISIONS FOR LIABILITIES 7 (33,546 ) (31,857 )

ACCRUALS AND DEFERRED INCOME (16,573 ) (17,165 )
NET ASSETS 871,878 810,819

CAPITAL AND RESERVES
Called up share capital 225 225
Non distributable reserves 211,054 211,054
Retained earnings 660,599 599,540
SHAREHOLDERS' FUNDS 871,878 810,819

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

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

CREATIVE ADVANCES LIMITED (REGISTERED NUMBER: 01779889)

BALANCE SHEET - continued
30 APRIL 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 Cownie - Director


CREATIVE ADVANCES LIMITED (REGISTERED NUMBER: 01779889)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

The presentational currency of the financial statements is the Pound Sterling (£) which is rounded to the nearest pound (£).

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 as modified by the revaluation of certain assets.

Turnover
The turnover shown in the profit and loss account represents amounts receivable for goods and services provided during the year in the normal course of business, net of trade discounts, VAT and other sales related 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 - at variable rates on reducing balance
Equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance

The freehold property is held at fair value with any revaluations taken to the non distributable reserves in the year in which they relate.The property was previously included in the accounts at its original cost but was revalued on 8 August 2017. No depreciation has been charged on the property this year.

Financial instruments
Financial instruments are classified by the director as basic or advanced, following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method, unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

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.

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.

CREATIVE ADVANCES LIMITED (REGISTERED NUMBER: 01779889)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 64 (2023 - 65 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery Equipment vehicles Totals
£ £ £ £ £
COST OR VALUATION
At 1 May 2023 350,000 - 53,111 88,380 491,491
Additions - 2,440 19,015 28,762 50,217
At 30 April 2024 350,000 2,440 72,126 117,142 541,708
DEPRECIATION
At 1 May 2023 - - 23,466 58,768 82,234
Charge for year - 38 6,510 12,734 19,282
At 30 April 2024 - 38 29,976 71,502 101,516
NET BOOK VALUE
At 30 April 2024 350,000 2,402 42,150 45,640 440,192
At 30 April 2023 350,000 - 29,645 29,612 409,257

Cost or valuation at 30 April 2024 is represented by:

Freehold Plant and Motor
property machinery Equipment vehicles Totals
£ £ £ £ £
Valuation in 2017 239,084 - - - 239,084
Cost 110,916 2,440 72,126 117,142 302,624
350,000 2,440 72,126 117,142 541,708

If the freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£ £
Cost 110,916 110,916

The freehold property was valued on an open market basis on 8 August 2017 by Jeffries Estate Agents .

CREATIVE ADVANCES LIMITED (REGISTERED NUMBER: 01779889)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. TANGIBLE FIXED ASSETS - continued

The director is of the opinion that the valuation provided on 8 August 2017 is reflective of that at 30 April 2024. The property has not been revalued in the current year.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 4,205 735
Directors' current accounts - 346
4,205 1,081

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 370 472
Corporation Tax 30,250 25,209
Social security and other taxes 12,079 8,196
VAT 40,539 55,061
Directors' current accounts 176 -
83,414 88,938

7. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 33,546 31,857

Deferred tax
£
Balance at 1 May 2023 31,857
Provided during year 1,689
Balance at 30 April 2024 33,546

8. OTHER FINANCIAL COMMITMENTS

At 30 April 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £6,598 (2023 - £4,798).