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REGISTERED NUMBER: 08353503










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

UTILE CREATIVE LIMITED

UTILE CREATIVE LIMITED (REGISTERED NUMBER: 08353503)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


UTILE CREATIVE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr N P Duggins
Mr H Fieber





REGISTERED OFFICE: Maria Tourousia Cottage
Florentia Clothing Village
Vale Road
London
N4 1TD





REGISTERED NUMBER: 08353503





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

UTILE CREATIVE LIMITED (REGISTERED NUMBER: 08353503)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,427 18,458

CURRENT ASSETS
Debtors 5 62,104 43,805
Cash at bank and in hand 10,635 29,787
72,739 73,592
CREDITORS
Amounts falling due within one year 6 63,733 53,773
NET CURRENT ASSETS 9,006 19,819
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,433

38,277

CREDITORS
Amounts falling due after more than one
year

7

18,673

28,504
NET ASSETS 5,760 9,773

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 5,756 9,769
5,760 9,773

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 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.

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 12 August 2024 and were signed on its behalf by:





Mr N P Duggins - Director


UTILE CREATIVE LIMITED (REGISTERED NUMBER: 08353503)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Utile Creative Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

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.
Plant and machinery - 25% on reducing balance

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 2 ) .

UTILE CREATIVE LIMITED (REGISTERED NUMBER: 08353503)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2023 53,111
Additions 4,124
Disposals (5,791 )
At 31 December 2023 51,444
DEPRECIATION
At 1 January 2023 34,653
Charge for year 5,143
Eliminated on disposal (3,779 )
At 31 December 2023 36,017
NET BOOK VALUE
At 31 December 2023 15,427
At 31 December 2022 18,458

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 31,126 8,029
Other debtors 30,978 35,776
62,104 43,805

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 12,011 9,589
Hire purchase contracts (see note 8) 2,395 -
Trade creditors 5,060 11,542
Taxation and social security 38,076 33,327
Other creditors 6,191 (685 )
63,733 53,773

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 18,673 28,504

UTILE CREATIVE LIMITED (REGISTERED NUMBER: 08353503)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Gross obligations repayable:
Within one year 2,669 -

Finance charges repayable:
Within one year 274 -

Net obligations repayable:
Within one year 2,395 -

Non-cancellable operating leases
2023 2022
£    £   
Within one year 20,125 19,833
Between one and five years 36,625 56,750
56,750 76,583

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr N P Duggins
Balance outstanding at start of year 18,895 -
Amounts advanced 1,144 18,895
Amounts repaid (4,757 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,282 18,895

Mr H Fieber
Balance outstanding at start of year 6,105 -
Amounts advanced - 6,105
Amounts repaid (3,020 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,085 6,105

During the period under review, interest of £145 (2022 : £nil) was charged on the overdrawn loan account balances.