RU Creative Ltd
Registered number: 08574017
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 84,774 51,176
Current assets
Debtors 5 119,858 77,927
Cash at bank and in hand 29,681 107,310
149,539 185,237
Creditors: amounts falling due within one year 6 (89,820) (103,625)
Net current assets 59,719 81,612
Total assets less current liabilities 144,493 132,788
Creditors: amounts falling due after more than one year 7 176 (455)
Net assets 144,669 132,333
Capital and reserves
Called up share capital 100 100
Profit and loss account 144,569 132,233
Shareholders' funds 144,669 132,333
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R Umpleby
Director
Approved by the board on 12 September 2024
RU Creative Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 10,000
At 31 July 2024 10,000
Amortisation
At 1 August 2023 10,000
At 31 July 2024 10,000
Net book value
At 31 July 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 42,625 28,329 70,954
Additions 1,402 60,454 61,856
At 31 July 2024 44,027 88,783 132,810
Depreciation
At 1 August 2023 12,696 7,082 19,778
Charge for the year 7,833 20,425 28,258
At 31 July 2024 20,529 27,507 48,036
Net book value
At 31 July 2024 23,498 61,276 84,774
At 31 July 2023 29,929 21,247 51,176
5 Debtors 2024 2023
£ £
Trade debtors 113,918 76,096
Other debtors 5,940 1,831
119,858 77,927
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 12,645 20,429
Obligations under finance lease and hire purchase contracts 46,600 33,940
Trade creditors 11,824 6,710
Corporation tax 4,787 34,224
Other taxes and social security costs 3,204 (2,638)
Other creditors 10,760 10,960
89,820 103,625
7 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors (176) 455
8 Controlling party
The ultimate controlling party during the period was Mr R Umpleby
9 Other information
RU Creative Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Summercourt Cottage
99 Batchelor Gardens
Harrogate
NORTH YORKSHIRE
HG1 3EA
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