REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
CREATIVE FX BROMLEY LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
CREATIVE FX BROMLEY LIMITED |
CREATIVE FX BROMLEY LIMITED (REGISTERED NUMBER: 03463024) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
CREATIVE FX BROMLEY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
12 High Street |
Stanford le Hope |
Essex |
SS17 0EY |
CREATIVE FX BROMLEY LIMITED (REGISTERED NUMBER: 03463024) |
BALANCE SHEET |
30 NOVEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
CREATIVE FX BROMLEY LIMITED (REGISTERED NUMBER: 03463024) |
BALANCE SHEET - continued |
30 NOVEMBER 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
CREATIVE FX BROMLEY LIMITED (REGISTERED NUMBER: 03463024) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
1. | STATUTORY INFORMATION |
Creative FX Bromley Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover comprises the fair value of the consideration received or receivable for the provision of goods and services in the ordinary course of the company's activities. Turnover is shown net of value added tax, rebates and discounts. |
The company recognises revenue when: |
The amount of revenue can be reliably measured, |
it is probable that future economic benefits will flow to the entity; |
and specific criteria have been met for each of the company's activities. |
Goodwill |
Goodwill, being the amount paid with the acquisition of the business in 1998, was fully amortised over its estimated useful life of ten years. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is shorter. |
Plant and equipment | 25% and 33% on reducing balance |
Motor vehicles | 25% on reducing balance |
Capital Expenditure on premises | 5 years on straight line |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
CREATIVE FX BROMLEY LIMITED (REGISTERED NUMBER: 03463024) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation represents the sum of tax currently payable and deferred tax. |
The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. |
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
Hire purchase |
Assets obtained under hire purchase contracts are capitalised as tangible fixed assets and are depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. |
Pension costs and other post-retirement benefits |
The company operates two defined contribution pension schemes, for the director and employees. The assets of the scheme are held separately from those of the company in independently administered funds. |
Operating leases |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 December 2022 |
and 30 November 2023 |
AMORTISATION |
At 1 December 2022 |
and 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
CREATIVE FX BROMLEY LIMITED (REGISTERED NUMBER: 03463024) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
6. | TANGIBLE FIXED ASSETS |
Capital |
expenditure |
on | Plant and | Motor |
premises | equipment | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 December 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 November 2023 |
DEPRECIATION |
At 1 December 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 December 2022 |
Additions |
At 30 November 2023 |
DEPRECIATION |
At 1 December 2022 |
and 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
CREATIVE FX BROMLEY LIMITED (REGISTERED NUMBER: 03463024) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Corporation tax |
Social security and other taxes |
Other creditors |
Directors' current accounts |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Bank loans more 5 yr by instal |
Hire purchase contracts |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 12,917 | 17,917 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Hire purchase contracts | 53,023 | 1,582 |
11. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 21,892 | 6,228 |
CREATIVE FX BROMLEY LIMITED (REGISTERED NUMBER: 03463024) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
11. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 December 2022 |
Charge to Income Statement during year |
Balance at 30 November 2023 |
The provision for deferred taxation is made up of accelerated capital allowances. |
12. | PENSION COMMITMENTS |
The company operates two defined contribution pension schemes, for the directors and employees. The assets of the schemes are held separately from those of the company in independently administered funds. At the balance sheet date there were £836 unpaid contributions (2022: £981). |
13. | OTHER FINANCIAL COMMITMENTS |
The Company has a total commitments, guarantees and contingencies as at year end 2023 of £4,500 (2022: £19,156) included in the above are minimum lease payments under non-cancellable operating leases, falling due as follows: |
2023 | 2022 |
£ | £ |
Within one year | 4,500 | 14,656 |
Between one and five years | - | 4,500 |
4,500 | 19,146 |
14. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year | - | - |
Amounts advanced | 10,000 | - |
Amounts repaid | - | - |
Balance outstanding at end of year | 10,000 | - |
The loan is included within other debtors, has been provided interest free and is repayable on demand. |
CREATIVE FX BROMLEY LIMITED (REGISTERED NUMBER: 03463024) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
15. | RELATED PARTY DISCLOSURES |
During the year the company made a loan of £487,378 (2022- £399,823) to another company under the control of one of the director's. The loan is interest free and repayable on demand (Included within other debtors). |