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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SELFCREATE LIMITED

SELFCREATE LIMITED (REGISTERED NUMBER: 04565300)






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


SELFCREATE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Abacus (Gibraltar) Limited
A T Mansfield
Abacus Services (Gibraltar) Limited





SECRETARY: Abacus Secretaries (Gibraltar) Limited





REGISTERED OFFICE: Nethergers
Church Lane
Robertsbridge
East Sussex
TN32 5PH





REGISTERED NUMBER: 04565300 (England and Wales)





ACCOUNTANTS: Abacus Financial Services Limited
5 - 9 Main Street
Gibraltar
GX11 1AA

SELFCREATE LIMITED (REGISTERED NUMBER: 04565300)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 5 488 385

CREDITORS
Amounts falling due within one year 6 22,375 20,564
NET CURRENT LIABILITIES (21,887 ) (20,179 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(21,887

)

(20,179

)

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Capital reserves 668,946 668,946
Retained earnings (691,833 ) (690,125 )
SHAREHOLDERS' FUNDS 8 (21,887 ) (20,179 )

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 5 September 2024 and were signed on its behalf by:




Abacus (Gibraltar) Limited - Director



Abacus Services (Gibraltar) Limited - Director


SELFCREATE LIMITED (REGISTERED NUMBER: 04565300)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Selfcreate 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
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been applied to all the periods presented, unless otherwise stated.

These financial statements have been prepared on a going concern basis, under the historical cost convention, the accounting policies set out below, the Companies Act 2006 and in accordance with United Kingdom Accounting Standards (United Kingdom Accepted Accounting Principles).

The company qualifies as a small company as defined under the Companies Act 2006 and accordingly the directors have applied the provisions of FRS 102 section 1A small entities in the preparation of the financial statements. There were no material departures from that standard.

Tangible fixed assets
The cost of tangible assets is their purchase cost, together with any incidental costs of acquisition. Depreciation is calculated so as to write off the cost of tangible fixed assets, less their estimated residual values, on a straight line basis over the expected useful economic lives of the assets concerned. The principal annual rate used for this purpose is

Land and buildings 5%.

Impairment

Tangible assets are subject to an impairment review if there are events or changes in circumstances that indicate that their carrying amount may not be fully recoverable. The impairment review comprises a comparison of the carrying amount of the assets with its recoverable amount, which is the higher of net realisable value and value in use. The carrying value of assets is written down by the amount of any impairment and this loss is recognised in the profit and loss account in the period in which it occurs. If an external event gives rise to the reversal of an impairment loss, the reversal is recognised in the profit and loss account by increasing the carrying amount of the asset in the period in which it occurs. The carrying amount of the asset will only be increased up to the amount that it would have been had the original impairment not occurred.

Taxation
Where necessary, provision at the applicable rate is made for corporation tax payable on profits for the year, taking into account any available tax losses.

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 between the taxable profits and the results are stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods that in which they are recognised in the financial statements.

A net deferred tax asset is treated as recoverable and therefore recognised only when it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences can be deducted.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which the timing differences are expected to revert based on the tax rates and laws that have been enacted by the balance sheet

Deferred tax is measured on a non-discounted basis.

SELFCREATE LIMITED (REGISTERED NUMBER: 04565300)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Functional and presentational currency
The financial statements are presented in Sterling (£) which is the company's functional and presentational currency.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 January 2023
and 31 December 2023 665,000
DEPRECIATION
At 1 January 2023
and 31 December 2023 665,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments 488 385

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Due to shareholders 21,840 20,064
Accrued expenses 535 500
22,375 20,564

The amount due to the shareholders is unsecured, interest free and has no fixed repayment terms.

7. IMMEDIATE PARENT UNDERTAKING AND ULTIMATE CONTROLLING PARTY

The immediate parent undertakings are considered to be Abacus (Gibraltar) Limited and Abacus Nominees (Gibraltar) Limited.

The directors have elected not to disclose the ultimate controlling party. This represents a departure from FRS 102.

SELFCREATE LIMITED (REGISTERED NUMBER: 04565300)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
2023 2022
£    £   
Loss for the financial year (1,708 ) (26,424 )
Net reduction of shareholders' funds (1,708 ) (26,424 )
Opening shareholders' funds (20,179 ) 6,245
Closing shareholders' funds (21,887 ) (20,179 )