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COMPANY REGISTRATION NUMBER: 06968599
KG Creative Consultancy Limited
Filleted Unaudited Financial Statements
31 March 2024
KG Creative Consultancy Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
KG Creative Consultancy Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
795
1,722
Current assets
Debtors
6
8,464
Cash at bank and in hand
113,728
241,780
--------
--------
122,192
241,780
Creditors: amounts falling due within one year
7
1,440
48,553
--------
--------
Net current assets
120,752
193,227
--------
--------
Total assets less current liabilities
121,547
194,949
Provisions
151
327
--------
--------
Net assets
121,396
194,622
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
121,296
194,522
--------
--------
Shareholders funds
121,396
194,622
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 August 2024 , and are signed on behalf of the board by:
Mr K R Goodwin
Director
Company registration number: 06968599
KG Creative Consultancy Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 77 Wray Park Road, Reigate, Surrey, RH2 0EQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Revenue recognition
Turnover shown in the profit and loss account represents amounts recoverable for services provided during the period, exclusive of Value Added Tax.
(c) Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
(d) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(e) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Equipment
£
Cost
At 1 April 2023
7,288
Disposals
( 1,389)
------
At 31 March 2024
5,899
------
Depreciation
At 1 April 2023
5,566
Charge for the year
928
Disposals
( 1,390)
------
At 31 March 2024
5,104
------
Carrying amount
At 31 March 2024
795
------
At 31 March 2023
1,722
------
6. Debtors
2024
2023
£
£
Other debtors
8,464
------
---
Other debtors includes £7,882 (2023: £Nil) due from the director. This represents the total amount advanced to the director and was repaid in April 2024. The advance was unsecured and carried interest at the HM Revenue & Customs official rate.
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
743
Corporation tax
8,604
Social security and other taxes
1,372
Other creditors
1,440
37,834
------
-------
1,440
48,553
------
-------