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REGISTERED NUMBER: NI615706 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Creative Workers Co-operative Ltd

Creative Workers Co-operative Ltd (Registered number: NI615706)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Creative Workers Co-operative Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: G P Black
C Bradley





SECRETARY: G P Black





REGISTERED OFFICE: Unit NG2 North Building
Twin Spires Complex
155 Northumberland Street
Belfast
Co. Antrim
BT13 2JF





REGISTERED NUMBER: NI615706 (Northern Ireland)





ACCOUNTANTS: Toman Accountancy Services Ltd
Unit HF 9, Twin Spires Complex
Howard Buildings
155 Northumberland Street
Belfast
Antrim
BT13 2JF

Creative Workers Co-operative Ltd (Registered number: NI615706)

Statement of Financial Position
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,979 12,999

CURRENT ASSETS
Stocks 4,407 8,610
Debtors 5 10,951 17,120
Cash at bank and in hand 2,200 10,256
17,558 35,986
CREDITORS
Amounts falling due within one year 6 17,945 17,203
NET CURRENT (LIABILITIES)/ASSETS (387 ) 18,783
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,592

31,782

PROVISIONS FOR LIABILITIES 2,546 3,062
NET ASSETS 10,046 28,720

RESERVES
Income and expenditure account 10,046 28,720
10,046 28,720

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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 surplus or deficit 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.

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 and authorised for issue by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:



G P Black - Director


Creative Workers Co-operative Ltd (Registered number: NI615706)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Creative Workers Co-operative Ltd is a private company, limited by guarantee , registered in Northern Ireland. 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.

Significant judgements and estimates
In preparing these financial statements the director has made the following judgements:

Consider the recoverability of trade debtors and work in progress and the need for impairment provisions. These considerations are undertaken regularly by the directors, and especially at the year end date. Factors taken into account include historical experience, current market conditions and knowledge of the sector. Amounts identified as irrecoverable will be provided against in the relevant period.

Consider the depreciation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remains reasonable.

Turnover
Turnover represents net invoiced sale of services, excluding value added tax.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
All financial statements of the company are considered to meet the definition of basic financial instruments.

-Short term debtors and creditors
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

-Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.


Creative Workers Co-operative Ltd (Registered number: NI615706)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and is available to carry forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 December 2022 21,462 1,532 22,994
Additions 4,248 - 4,248
At 30 November 2023 25,710 1,532 27,242
DEPRECIATION
At 1 December 2022 9,915 80 9,995
Charge for year 3,905 363 4,268
At 30 November 2023 13,820 443 14,263
NET BOOK VALUE
At 30 November 2023 11,890 1,089 12,979
At 30 November 2022 11,547 1,452 12,999

Creative Workers Co-operative Ltd (Registered number: NI615706)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 2,698 8,720
Other debtors 8,253 8,400
10,951 17,120

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Taxation and social security 4,596 4,160
Other creditors 13,349 13,043
17,945 17,203

7. SUBSEQUENT EVENTS

Subsequent to the year end, COVID-19 has caused significant disruption to the economic activity of many business's and their activities, this disruption has been worldwide.

The company has set robust cost containment measures to enable the business to continue to operate.