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REGISTERED NUMBER: 06644248 (England and Wales)























Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Crea8ive Network Solutions Limited

Crea8ive Network Solutions Limited (Registered number: 06644248)

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 4


Crea8ive Network Solutions Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr D P Williams





REGISTERED OFFICE: 6 Unit 6 Dollywagon Way
Bamber Bridge
Preston
Lancashire
PR5 6EW





REGISTERED NUMBER: 06644248 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
Chartered Accountants
316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE

Crea8ive Network Solutions Limited (Registered number: 06644248)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 131,924 139,249

CURRENT ASSETS
Stocks 2,155 2,659
Debtors 5 135,935 117,803
Cash at bank 79,882 70,600
217,972 191,062
CREDITORS
Amounts falling due within one year 6 105,758 74,308
NET CURRENT ASSETS 112,214 116,754
TOTAL ASSETS LESS CURRENT
LIABILITIES

244,138

256,003

CREDITORS
Amounts falling due after more than one
year

7

(14,167

)

(24,167

)

PROVISIONS FOR LIABILITIES (938 ) (1,772 )
NET ASSETS 229,033 230,064

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 229,023 230,054
SHAREHOLDERS' FUNDS 229,033 230,064

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 director acknowledges his 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.

Crea8ive Network Solutions Limited (Registered number: 06644248)

Statement of Financial Position - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 September 2024 and were signed by:





Mr D P Williams - Director


Crea8ive Network Solutions Limited (Registered number: 06644248)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Crea8ive Network Solutions 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.

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.
Long leasehold - 2% on cost
Improvements to property - Straight line over 15 years
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Crea8ive Network Solutions Limited (Registered number: 06644248)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1 January 2023
and 31 December 2023 146,573 4,653 2,301
DEPRECIATION
At 1 January 2023 16,652 1,241 1,708
Charge for year 2,932 310 148
At 31 December 2023 19,584 1,551 1,856
NET BOOK VALUE
At 31 December 2023 126,989 3,102 445
At 31 December 2022 129,921 3,412 593

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 1,420 9,330 35,741 200,018
DEPRECIATION
At 1 January 2023 1,136 8,084 31,948 60,769
Charge for year 284 312 3,339 7,325
At 31 December 2023 1,420 8,396 35,287 68,094
NET BOOK VALUE
At 31 December 2023 - 934 454 131,924
At 31 December 2022 284 1,246 3,793 139,249

The property held under long leasehold has a lease term of 999 years of which 993 years are remaining.

Crea8ive Network Solutions Limited (Registered number: 06644248)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 52,675 35,003
Directors' loan accounts 61,215 60,815
Tax 21,616 21,616
Prepayments 429 369
135,935 117,803

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 6,511 3,621
Tax 43,684 26,467
Social security and other taxes 1,803 2,661
Pension Creditor 122 98
VAT 27,799 16,412
Other creditors 8,637 7,446
Deferred income 3,160 5,703
Accrued expenses 4,042 1,900
105,758 74,308

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 4,167 14,167
14,167 24,167

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 11,859 11,859
Between one and five years 13,835 25,694
25,694 37,553

Crea8ive Network Solutions Limited (Registered number: 06644248)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 24,167 34,167

The UK Government have provided a 100% guarantee on the Bounce Back Loan Scheme (BBLS), borrowings obtained from Santander PLC in the year.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31.12.23 31.12.22
£    £   
Mr D P Williams
Balance outstanding at start of year 60,814 61,157
Amounts advanced 82,530 84,797
Amounts repaid (82,129 ) (85,140 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 61,215 60,814