Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falsecreative production and bespoke event solutions11truetrue 08877490 2023-01-01 2023-12-31 08877490 2022-01-01 2022-12-31 08877490 2023-12-31 08877490 2022-12-31 08877490 c:Director1 2023-01-01 2023-12-31 08877490 d:MotorVehicles 2023-01-01 2023-12-31 08877490 d:MotorVehicles 2023-12-31 08877490 d:MotorVehicles 2022-12-31 08877490 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08877490 d:FurnitureFittings 2023-01-01 2023-12-31 08877490 d:FurnitureFittings 2023-12-31 08877490 d:FurnitureFittings 2022-12-31 08877490 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08877490 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08877490 d:CurrentFinancialInstruments 2023-12-31 08877490 d:CurrentFinancialInstruments 2022-12-31 08877490 d:Non-currentFinancialInstruments 2023-12-31 08877490 d:Non-currentFinancialInstruments 2022-12-31 08877490 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08877490 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08877490 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 08877490 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 08877490 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 08877490 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 08877490 d:ShareCapital 2023-12-31 08877490 d:ShareCapital 2022-12-31 08877490 d:RetainedEarningsAccumulatedLosses 2023-12-31 08877490 d:RetainedEarningsAccumulatedLosses 2022-12-31 08877490 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 08877490 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 08877490 c:FRS102 2023-01-01 2023-12-31 08877490 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08877490 c:FullAccounts 2023-01-01 2023-12-31 08877490 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08877490 2 2023-01-01 2023-12-31 08877490 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 08877490









ADW CREATIVE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ADW CREATIVE LIMITED
REGISTERED NUMBER: 08877490

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
792
1,186

  
792
1,186

Current assets
  

Stocks
 5 
28,250
36,840

Debtors: amounts falling due within one year
 6 
8,497
513

Cash at bank and in hand
 7 
14,766
55,506

  
51,513
92,859

Creditors: amounts falling due within one year
 8 
(42,109)
(46,191)

Net current assets
  
 
 
9,404
 
 
46,668

Total assets less current liabilities
  
10,196
47,854

Creditors: amounts falling due after more than one year
 9 
(39,795)
(47,853)

  

Net (liabilities)/assets
  
(29,599)
1


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(29,600)
-

  
(29,599)
1


Page 1

 
ADW CREATIVE LIMITED
REGISTERED NUMBER: 08877490
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 11 September 2024.




................................................
Christopher Gaines
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ADW CREATIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The Company is a private company limited by share capital, incorporated in England and Wales. The principal activity of the Company is that of creative production and bespoke event solutions. 

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts are produced on a going concern basis. This assumes the ongoing support of the director, which he has pledged for the foreseeable future.

 
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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

 
ADW CREATIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.5

Interest income

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

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Taxation

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.

 
2.9

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.

Page 4

 
ADW CREATIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

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:

Motor vehicles
-
25%
straight line
Fixtures and fittings
-
25%
straight line

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.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

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.

 
2.12

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.

 
2.13

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.

Page 5

 
ADW CREATIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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.

Basic financial assets

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.

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 receipts 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 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.

 
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 1 (2022 - 1).

Page 6

 
ADW CREATIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 January 2023
6,750
39,690
46,440



At 31 December 2023

6,750
39,690
46,440



Depreciation


At 1 January 2023
6,750
38,504
45,254


Charge for the year on owned assets
-
394
394



At 31 December 2023

6,750
38,898
45,648



Net book value



At 31 December 2023
-
792
792



At 31 December 2022
-
1,186
1,186


5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
28,250
36,840

28,250
36,840



6.


Debtors

2023
2022
£
£


Other debtors
6,851
-

Prepayments and accrued income
1,646
513

8,497
513


Page 7

 
ADW CREATIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
14,766
55,506

14,766
55,506



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
7,240
1,258

Corporation tax
-
9,310

Other taxation and social security
5,285
4,198

Other creditors
27,878
29,936

Accruals and deferred income
1,706
1,489

42,109
46,191



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
39,795
47,853

39,795
47,853


Page 8

 
ADW CREATIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
7,240
1,258


Amounts falling due 2-5 years

Bank loans
39,795
47,853


47,035
49,111



11.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
14,766
55,506




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


12.


Controlling party

The Company is controlled by the director Christopher Gaines, by virtue of his shareholding, as described in the director's report.

 
Page 9