Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-30false2022-10-01No description of principal activity44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06378394 2022-10-01 2023-09-30 06378394 2021-10-01 2022-09-30 06378394 2023-09-30 06378394 2022-09-30 06378394 c:Director1 2022-10-01 2023-09-30 06378394 d:FurnitureFittings 2022-10-01 2023-09-30 06378394 d:FurnitureFittings 2023-09-30 06378394 d:FurnitureFittings 2022-09-30 06378394 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 06378394 d:ComputerEquipment 2022-10-01 2023-09-30 06378394 d:ComputerEquipment 2023-09-30 06378394 d:ComputerEquipment 2022-09-30 06378394 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 06378394 d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 06378394 d:CurrentFinancialInstruments 2023-09-30 06378394 d:CurrentFinancialInstruments 2022-09-30 06378394 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 06378394 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 06378394 d:ShareCapital 2023-09-30 06378394 d:ShareCapital 2022-09-30 06378394 d:RetainedEarningsAccumulatedLosses 2023-09-30 06378394 d:RetainedEarningsAccumulatedLosses 2022-09-30 06378394 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-09-30 06378394 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-09-30 06378394 c:FRS102 2022-10-01 2023-09-30 06378394 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 06378394 c:FullAccounts 2022-10-01 2023-09-30 06378394 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 06378394 d:WithinOneYear 2023-09-30 06378394 d:WithinOneYear 2022-09-30 06378394 d:BetweenOneFiveYears 2023-09-30 06378394 d:BetweenOneFiveYears 2022-09-30 06378394 2 2022-10-01 2023-09-30 06378394 6 2022-10-01 2023-09-30 06378394 e:PoundSterling 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Registered number:  06378394














CREATIVE 6 MEDIA LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


 
CREATIVE 6 MEDIA LTD
REGISTERED NUMBER: 06378394

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,634
8,142

Investments
 5 
1,076,160
1,027,050

  
1,081,794
1,035,192

Current assets
  

Debtors: amounts falling due within one year
 6 
23,372
52,007

Cash at bank and in hand
 7 
1,563,616
1,692,068

  
1,586,988
1,744,075

Creditors: amounts falling due within one year
 8 
(47,373)
(46,375)

Net current assets
  
 
 
1,539,615
 
 
1,697,700

Total assets less current liabilities
  
2,621,409
2,732,892

Provisions for liabilities
  

Deferred tax
  
(45,375)
(33,817)

  
 
 
(45,375)
 
 
(33,817)

Net assets
  
2,576,034
2,699,075


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
2,576,033
2,699,074

  
2,576,034
2,699,075


Page 1

 
CREATIVE 6 MEDIA LTD
REGISTERED NUMBER: 06378394
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 August 2024.




J A Dyson
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
CREATIVE 6 MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England (No. 06378394). The registered office address is C/O Smooth Accounting Limited, Building 1000 Lakeside North Harbour, Western Road, Portsmouth, PO6 3EN.
These financial statements present information about the company as an individual undertaking; it is not a member of a group of companies. The principal activity of the company is that of other business support activities.
The presentation currency of these financial statements is £ sterling; the financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
CREATIVE 6 MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
CREATIVE 6 MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
CREATIVE 6 MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.9

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when 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

Page 6

 
CREATIVE 6 MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are
Page 7

 
CREATIVE 6 MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)

initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 8

 
CREATIVE 6 MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 October 2022
9,718
56,590
66,308


Additions
599
1,911
2,510



At 30 September 2023

10,317
58,501
68,818



Depreciation


At 1 October 2022
8,135
50,031
58,166


Charge for the year on owned assets
1,355
3,663
5,018



At 30 September 2023

9,490
53,694
63,184



Net book value



At 30 September 2023
827
4,807
5,634



At 30 September 2022
1,583
6,559
8,142


5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 October 2022
1,027,050


Revaluations
49,110



At 30 September 2023
1,076,160




Page 9

 
CREATIVE 6 MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
838
48

Other debtors
22,534
51,959

23,372
52,007



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,563,616
1,692,068

1,563,616
1,692,068



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
8,733
16,437

Other creditors
33,389
21,437

Accruals and deferred income
5,251
8,501

47,373
46,375



9.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
2,639,776
2,719,118




Financial assets measured at fair value through profit or loss comprises of listed investments and cash at bank and in hand.

Page 10

 
CREATIVE 6 MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

10.


Pension commitments

The company operates a defined contributions pension scheme. 
The assets of the scheme are held seperately from those of the company in an independently administered fund. 
The pension cost charge represents contributions payable by the company to the fund and amounted to £20,212 (2022: £7,268). 
Contributions totalling £1,028 (2022 : £1,004) were payable to the fund at the balance sheet date and are included in creditors.
During the year, the company made contributions to the directors personal pension plans.
Contributions paid in respect of the directors in aggregate is £46,667 (2022: £40,000).


11.


Commitments under operating leases

At 30 September 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
14,948
12,034

Later than 1 year and not later than 5 years
22,423
20,985

37,371
33,019


12.


Related party transactions

J A Dyson has made a loan to the company, which amounted to £11,038 at 30th September 2023 (2022: £10,013). The loan is interest free and no terms have been agreed for its repayment.


13.


Controlling party

In the opinion of the director the company is under the control of J A Dyson, its director and sole shareholder.

Page 11