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REGISTERED NUMBER: SC412190 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Creet Productions Limited

Creet Productions Limited (Registered number: SC412190)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Creet Productions Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Ms S Bell
I Bell
J Bell





REGISTERED OFFICE: Pavilion1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU





REGISTERED NUMBER: SC412190 (Scotland)





ACCOUNTANTS: Gerber Landa & Gee
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU

Creet Productions Limited (Registered number: SC412190)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,735 7,017

CURRENT ASSETS
Debtors 5 316,153 263,228
Cash at bank 228,424 323,548
544,577 586,776
CREDITORS
Amounts falling due within one year 6 65,804 113,390
NET CURRENT ASSETS 478,773 473,386
TOTAL ASSETS LESS CURRENT
LIABILITIES

481,508

480,403

PROVISIONS FOR LIABILITIES 643 1,754
NET ASSETS 480,865 478,649

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 480,765 478,549
SHAREHOLDERS' FUNDS 480,865 478,649

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 19 August 2024 and were signed on its behalf by:



I Bell - Director


Creet Productions Limited (Registered number: SC412190)

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

1. STATUTORY INFORMATION

Creet Productions Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover for the provision of professional services is recognised as each stage of filming is completed.

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 - 33% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Financial instruments
Debtors
Short term debtors are measured at the transaction price less impairment. Loans receivable are measured initially at fair value, net of transactions costs and are subsequently at amortised cost using the effective interest method less any impairment.Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash on hand and deposits held at call with banks and bank overdrafts.

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.


Creet Productions Limited (Registered number: SC412190)

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

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 16,215
DEPRECIATION
At 1 January 2023 9,198
Charge for year 4,282
At 31 December 2023 13,480
NET BOOK VALUE
At 31 December 2023 2,735
At 31 December 2022 7,017

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors - 77,573
Directors' current accounts 316,153 185,655
316,153 263,228

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Tax 58,859 84,693
VAT 3,245 25,097
Accrued expenses 3,700 3,600
65,804 113,390

Creet Productions Limited (Registered number: SC412190)

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

7. DIRECTORS' 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
£    £   
J Bell
Balance outstanding at start of year 185,655 111,607
Amounts advanced 337,668 208,064
Amounts repaid (207,170 ) (134,016 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 316,153 185,655

The above loan is interest free and has no fixed repayment date.

8. RELATED PARTY DISCLOSURES

A dividend of £186,000 was paid to the director Mr J Bell in the year.