IRIS Accounts Productionv24.1.9.206020094Board of Directors1.1.2331.12.2331.12.23falsetruefalsefalsetruefalseFair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh060200942022-12-31060200942023-12-31060200942023-01-012023-12-31060200942021-12-31060200942022-01-012022-12-31060200942022-12-3106020094ns15:EnglandWales2023-01-012023-12-3106020094ns14:PoundSterling2023-01-012023-12-3106020094ns10:Director12023-01-012023-12-3106020094ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3106020094ns10:SmallEntities2023-01-012023-12-3106020094ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3106020094ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3106020094ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3106020094ns10:FullAccounts2023-01-012023-12-3106020094ns10:Director22023-01-012023-12-3106020094ns10:CompanySecretary12023-01-012023-12-3106020094ns10:RegisteredOffice2023-01-012023-12-3106020094ns5:CurrentFinancialInstruments2023-12-3106020094ns5:CurrentFinancialInstruments2022-12-3106020094ns5:ShareCapital2023-12-3106020094ns5:ShareCapital2022-12-3106020094ns5:FurtherSpecificReserve3ComponentTotalEquity2023-12-3106020094ns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-3106020094ns5:RetainedEarningsAccumulatedLosses2023-12-3106020094ns5:RetainedEarningsAccumulatedLosses2022-12-3106020094ns5:PlantMachinery2023-01-012023-12-3106020094ns5:LandBuildings2022-12-3106020094ns5:PlantMachinery2022-12-3106020094ns5:LandBuildings2023-01-012023-12-3106020094ns5:LandBuildings2023-12-3106020094ns5:PlantMachinery2023-12-3106020094ns5:LandBuildings2022-12-3106020094ns5:PlantMachinery2022-12-3106020094ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3106020094ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3106020094ns5:RetainedEarningsAccumulatedLosses2022-12-3106020094ns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-3106020094ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-31

REGISTERED NUMBER: 06020094 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023


FOR



BUDDY CREATIVE LIMITED



BUDDY CREATIVE LIMITED (REGISTERED NUMBER: 06020094)








CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023





Page




Company Information  

1




Balance Sheet  

2




Notes to the Financial Statements  

4





BUDDY CREATIVE LIMITED



COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2023









DIRECTORS:

D W Jones


M P Girvan







SECRETARY:

D W Jones







REGISTERED OFFICE:

The Old School


The Stennack


St Ives


Cornwall


TR26 1QU







REGISTERED NUMBER:

06020094 (England and Wales)







ACCOUNTANTS:

Greenwood Wilson


The Old School


The Stennack


St Ives


Cornwall


TR26 1QU



BUDDY CREATIVE LIMITED (REGISTERED NUMBER: 06020094)



BALANCE SHEET

31 DECEMBER 2023



2023

2022



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

4

135,140


137,140



Investment property

5

402,720


402,720



537,860


539,860




CURRENT ASSETS

Debtors

6

204,260


250,918



Cash at bank and in hand

340,429


229,182



544,689


480,100



CREDITORS

Amounts falling due within one year

7

90,511


115,505



NET CURRENT ASSETS

454,178


364,595



TOTAL ASSETS LESS CURRENT

LIABILITIES

992,038


904,455




PROVISIONS FOR LIABILITIES

37,824


37,518



NET ASSETS

954,214


866,937




CAPITAL AND RESERVES

Called up share capital

94


92



Fair value reserve

8

121,301


121,301



Retained earnings

8

832,819


745,544



SHAREHOLDERS' FUNDS

954,214


866,937




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.



BUDDY CREATIVE LIMITED (REGISTERED NUMBER: 06020094)



BALANCE SHEET - continued

31 DECEMBER 2023



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 8 July 2024 and were signed on its behalf by:






M P Girvan - Director




BUDDY CREATIVE LIMITED (REGISTERED NUMBER: 06020094)



NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023


1.

STATUTORY INFORMATION



Buddy Creative 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.


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 as modified by the revaluation of certain assets.    



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 etc

-  

10% on reducing balance and Straight line over 3 years



Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.


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.


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 7 (2022 - 6 ) .



BUDDY CREATIVE LIMITED (REGISTERED NUMBER: 06020094)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2023


4.

TANGIBLE FIXED ASSETS


Plant and



Land and


machinery



buildings


etc


Totals

£   

£   

£   



COST


At 1 January 2023

114,177


66,246


180,423




Additions

-


3,248


3,248




At 31 December 2023

114,177


69,494


183,671




DEPRECIATION


At 1 January 2023

-


43,283


43,283




Charge for year

-


5,248


5,248




At 31 December 2023

-


48,531


48,531




NET BOOK VALUE


At 31 December 2023

114,177


20,963


135,140




At 31 December 2022

114,177


22,963


137,140




5.

INVESTMENT PROPERTY


Total

£   



FAIR VALUE


At 1 January 2023


and 31 December 2023

402,720




NET BOOK VALUE


At 31 December 2023

402,720




At 31 December 2022

402,720





Fair value at 31 December 2023 is represented by:

£   



Valuation in 2022

402,720





If the investment property had not been revalued it would have been included at the following historical cost:


2023

2022


£   

£   



Cost

240,985


240,985





Investment property was valued on on an open market basis on 31 December 2023 by the directors .


6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2023

2022


£   

£   



Trade debtors

193,853


247,108




Other debtors

10,407


3,810



204,260


250,918





BUDDY CREATIVE LIMITED (REGISTERED NUMBER: 06020094)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2023


6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued


The overdrawn Director's Current account was repaid within 9 months of the year end.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2023

2022


£   

£   



Trade creditors

960


-




Taxation and social security

85,344


75,616




Other creditors

4,207


39,889



90,511


115,505




8.

RESERVES


Fair



Retained


value



earnings


reserve


Totals

£   

£   

£   




At 1 January 2023

745,544


121,301


866,845




Profit for the year

167,274


167,274




Dividends

(79,999

)

(79,999

)



At 31 December 2023

832,819


121,301


954,120