Registered number
05654399
Gingersnap Creative Management Limited
Filleted Accounts
30 November 2023
Gingersnap Creative Management Limited
Registered number: 05654399
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 202,593 203,202
Current assets
Debtors 4 82,481 222,044
Cash at bank and in hand 200,425 219,627
282,906 441,671
Creditors: amounts falling due within one year 5 (154,051) (267,399)
Net current assets 128,855 174,272
Total assets less current liabilities 331,448 377,474
Creditors: amounts falling due after more than one year 6 (118,199) (135,721)
Provisions for liabilities (1,778) (2,165)
Net assets 211,471 239,588
Capital and reserves
Called up share capital 2,700 50
Profit and loss account 208,771 239,538
Shareholders' funds 211,471 239,588
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J C Barrington-Chappell
Director
Approved by the board on 21 August 2024
Gingersnap Creative Management Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and fittings 20% reducing balance basis
Office equipment 20% reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 9 12
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 193,308 4,136 23,028 220,472
Additions - - 1,580 1,580
At 30 November 2023 193,308 4,136 24,608 222,052
Depreciation
At 1 December 2022 - 2,853 14,417 17,270
Charge for the year - 256 1,933 2,189
At 30 November 2023 - 3,109 16,350 19,459
Net book value
At 30 November 2023 193,308 1,027 8,258 202,593
At 30 November 2022 193,308 1,283 8,611 203,202
4 Debtors 2023 2022
£ £
Trade debtors 74,300 213,863
Amounts owed by group undertakings and undertakings in which the company has a participating interest 8,181 8,181
82,481 222,044
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 19,180 19,180
Trade creditors 45,514 98,546
Taxation and social security costs 87,919 98,471
Other creditors 1,438 51,202
154,051 267,399
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 118,199 135,721
7 Other information
Gingersnap Creative Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 256
The Paitworks
Bath Road
Bristol
BS4 3AQ
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