OAD Creative Limited 07953016 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is designing and fixing display systems. Digita Accounts Production Advanced 6.30.9574.0 true true 07953016 2023-04-01 2024-03-31 07953016 2024-03-31 07953016 bus:OrdinaryShareClass1 2024-03-31 07953016 core:CurrentFinancialInstruments 2024-03-31 07953016 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 07953016 core:Goodwill 2024-03-31 07953016 core:FurnitureFittings 2024-03-31 07953016 core:MotorVehicles 2024-03-31 07953016 bus:SmallEntities 2023-04-01 2024-03-31 07953016 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07953016 bus:FilletedAccounts 2023-04-01 2024-03-31 07953016 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07953016 bus:RegisteredOffice 2023-04-01 2024-03-31 07953016 bus:Director1 2023-04-01 2024-03-31 07953016 bus:Director2 2023-04-01 2024-03-31 07953016 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 07953016 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07953016 core:Goodwill 2023-04-01 2024-03-31 07953016 core:FurnitureFittings 2023-04-01 2024-03-31 07953016 core:MotorVehicles 2023-04-01 2024-03-31 07953016 countries:EnglandWales 2023-04-01 2024-03-31 07953016 2023-03-31 07953016 core:Goodwill 2023-03-31 07953016 core:FurnitureFittings 2023-03-31 07953016 core:MotorVehicles 2023-03-31 07953016 2022-04-01 2023-03-31 07953016 2023-03-31 07953016 bus:OrdinaryShareClass1 2023-03-31 07953016 core:CurrentFinancialInstruments 2023-03-31 07953016 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 07953016 core:Goodwill 2023-03-31 07953016 core:FurnitureFittings 2023-03-31 07953016 core:MotorVehicles 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07953016

OAD Creative Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

OAD Creative Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

OAD Creative Limited

Company Information

Directors

RS Chisnall

SC Chisnall

Registered office

5 Ducketts Wharf
South Street
Bishop's Stortford
Herts
CM23 3AR

Accountants

Mansell & Co
Chartered Certified Accountants
5 Ducketts Wharf
South Street
Bishop's Stortford
Hertfordshire
CM23 3AR

 

OAD Creative Limited

(Registration number: 07953016)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

20,000

22,500

Tangible assets

5

19,171

10,152

 

39,171

32,652

Current assets

 

Stocks

6

10,750

9,200

Debtors

7

69,312

62,997

Cash at bank and in hand

 

170,927

219,640

 

250,989

291,837

Creditors: Amounts falling due within one year

8

(30,382)

(28,859)

Net current assets

 

220,607

262,978

Net assets

 

259,778

295,630

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

259,678

295,530

Shareholders' funds

 

259,778

295,630

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 October 2024 and signed on its behalf by:
 

 

OAD Creative Limited

(Registration number: 07953016)
Balance Sheet as at 31 March 2024

.........................................
RS Chisnall
Director

.........................................
SC Chisnall
Director

 

OAD Creative Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5 Ducketts Wharf
South Street
Bishop's Stortford
Herts
CM23 3AR
United Kingdom

These financial statements were authorised for issue by the Board on 21 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

OAD Creative Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fixtures and equipment

reducing balance - 25%

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

straightline over 20 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

OAD Creative Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

OAD Creative Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

50,000

50,000

At 31 March 2024

50,000

50,000

Amortisation

At 1 April 2023

27,500

27,500

Amortisation charge

2,500

2,500

At 31 March 2024

30,000

30,000

Carrying amount

At 31 March 2024

20,000

20,000

At 31 March 2023

22,500

22,500

5

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

22,414

21,445

43,859

Additions

409

15,000

15,409

At 31 March 2024

22,823

36,445

59,268

Depreciation

At 1 April 2023

16,101

17,606

33,707

Charge for the year

1,680

4,710

6,390

At 31 March 2024

17,781

22,316

40,097

Carrying amount

At 31 March 2024

5,042

14,129

19,171

At 31 March 2023

6,313

3,839

10,152

6

Stocks

2024
£

2023
£

Work in progress

-

2,650

Other inventories

10,750

6,550

10,750

9,200

 

OAD Creative Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Debtors

Current

2024
£

2023
£

Trade debtors

11,442

5,003

Other debtors

57,870

57,994

 

69,312

62,997

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

14,320

10,670

Taxation and social security

13,712

14,653

Accruals and deferred income

2,350

2,350

Other creditors

-

1,186

30,382

28,859

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100