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REGISTERED NUMBER: 08059597 (England and Wales)







Abridged Financial Statements for the Year Ended 31st May 2024

for

773 Creative Ltd

773 Creative Ltd (Registered number: 08059597)






Contents of the Financial Statements
for the Year Ended 31st May 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


773 Creative Ltd

Company Information
for the Year Ended 31st May 2024







DIRECTORS: A J Edney
S C Sosna





REGISTERED OFFICE: Suite 3 First Floor
8 Basin Road
Diglis Basin
Worcester
Worcestershire
WR5 3GA





REGISTERED NUMBER: 08059597 (England and Wales)





ACCOUNTANTS: The Richards Sandy Partnership
Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU

773 Creative Ltd (Registered number: 08059597)

Abridged Balance Sheet
31st May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 150,807 7,988

CURRENT ASSETS
Debtors 76,906 30,961
Cash at bank 64,431 90,175
141,337 121,136
CREDITORS
Amounts falling due within one year 49,660 42,903
NET CURRENT ASSETS 91,677 78,233
TOTAL ASSETS LESS CURRENT
LIABILITIES

242,484

86,221

CREDITORS
Amounts falling due after more than one
year

5

(183,556

)

(36,844

)

PROVISIONS FOR LIABILITIES 7 (37,700 ) (2,000 )
NET ASSETS 21,228 47,377

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 21,028 47,177
21,228 47,377

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

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

The directors acknowledge their 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.

773 Creative Ltd (Registered number: 08059597)

Abridged Balance Sheet - continued
31st May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 Board of Directors and authorised for issue on 6th August 2024 and were signed on its behalf by:




S C Sosna - Director



A J Edney - Director


773 Creative Ltd (Registered number: 08059597)

Notes to the Financial Statements
for the Year Ended 31st May 2024

1. STATUTORY INFORMATION

773 Creative Ltd 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 from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Where a contract has only been partially completed at the balance sheet date, turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date.

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 reducing balance, Straight line over 7 years and Straight line over 3 years

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11' Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the accounts where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic Financial Liabilities
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction cost.

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.


773 Creative Ltd (Registered number: 08059597)

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

2. ACCOUNTING POLICIES - continued
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.

OPERATING LEASES
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS
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 4 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st June 2023 40,519
Additions 197,909
Disposals (14,482 )
At 31st May 2024 223,946
DEPRECIATION
At 1st June 2023 32,531
Charge for year 55,090
Eliminated on disposal (14,482 )
At 31st May 2024 73,139
NET BOOK VALUE
At 31st May 2024 150,807
At 31st May 2023 7,988

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans - due after more than five years 7,715 13,252

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 171,996 -

The loans are secured against the assets of the company.

773 Creative Ltd (Registered number: 08059597)

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

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 37,700 2,000

Deferred
tax
£   
Balance at 1st June 2023 2,000
Provided during year 35,700
Balance at 31st May 2024 37,700

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in Creditors are loans from the directors, Mr A J Edney and Mr S C Sosna.