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REGISTERED NUMBER: 02604672 (England and Wales)















CREATIVE IDEA LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024






CREATIVE IDEA LIMITED (REGISTERED NUMBER: 02604672)

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 IDEA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: L E Frewin
M Sampson





REGISTERED OFFICE: Marston House
5 Elmdon Lane
Marston Green
Solihull
West Midlands
B37 7DL





BUSINESS ADDRESS: Unit 8
Magna Road
South Wigston
Leicestershire
LE18 4ZH





REGISTERED NUMBER: 02604672 (England and Wales)





ACCOUNTANTS: Sephton & Company LLP
Chartered Certified Accountants
Marston House
5 Elmdon Lane
Marston Green
Solihull
West Midlands
B37 7DL

CREATIVE IDEA LIMITED (REGISTERED NUMBER: 02604672)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 59,781 68,738

CURRENT ASSETS
Stocks 34,432 38,572
Debtors 5 689,935 443,056
Cash at bank and in hand 751,740 600,637
1,476,107 1,082,265
CREDITORS
Amounts falling due within one year 6 840,014 425,174
NET CURRENT ASSETS 636,093 657,091
TOTAL ASSETS LESS CURRENT
LIABILITIES

695,874

725,829

CREDITORS
Amounts falling due after more than one
year

7

(87,496

)

(137,496

)

PROVISIONS FOR LIABILITIES (10,607 ) (12,144 )
NET ASSETS 597,771 576,189

CAPITAL AND RESERVES
Called up share capital 10,920 10,920
Retained earnings 586,851 565,269
SHAREHOLDERS' FUNDS 597,771 576,189

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 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 IDEA LIMITED (REGISTERED NUMBER: 02604672)

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 Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:




L E Frewin - Director



M Sampson - Director


CREATIVE IDEA LIMITED (REGISTERED NUMBER: 02604672)

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


1. STATUTORY INFORMATION

Creative Idea Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property improvmnts - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 IDEA LIMITED (REGISTERED NUMBER: 02604672)

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.

Government grants
Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 34 ) .

4. TANGIBLE FIXED ASSETS
Leasehold Fixtures
property Plant and and Computer
improvmnts machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 491,150 381,915 140,878 132,228 1,146,171
Additions - - - 2,350 2,350
At 30 April 2024 491,150 381,915 140,878 134,578 1,148,521
DEPRECIATION
At 1 May 2023 491,150 323,576 135,859 126,848 1,077,433
Charge for year - 8,704 702 1,901 11,307
At 30 April 2024 491,150 332,280 136,561 128,749 1,088,740
NET BOOK VALUE
At 30 April 2024 - 49,635 4,317 5,829 59,781
At 30 April 2023 - 58,339 5,019 5,380 68,738

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 622,187 362,382
Other debtors 67,748 80,674
689,935 443,056

CREATIVE IDEA LIMITED (REGISTERED NUMBER: 02604672)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 50,004 50,004
Trade creditors 350,440 219,367
Taxation and social security 147,755 105,947
Other creditors 291,815 49,856
840,014 425,174

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 87,496 137,496

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 26,696 29,125
Between one and five years 37,818 60,662
64,514 89,787