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REGISTERED NUMBER: 09585575 (England and Wales)
















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Chalk Creatives Ltd

Chalk Creatives Ltd (Registered number: 09585575)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Chalk Creatives Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: A P D Ward





REGISTERED OFFICE: 1 Manor Court
6 Barnes Wallis Road
Fareham
Hampshire
PO15 5TH





REGISTERED NUMBER: 09585575 (England and Wales)





ACCOUNTANTS: Roches
Chartered Accountants
1 Manor Court
6 Barnes Wallis Road
Segensworth
Fareham
Hampshire
PO15 5TH

Chalk Creatives Ltd (Registered number: 09585575)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 214,665 135,506

CURRENT ASSETS
Stocks 290,407 -
Debtors 5 2,260,328 927,702
Cash at bank 1,044,699 1,687,685
3,595,434 2,615,387
CREDITORS
Amounts falling due within one year 6 1,217,271 543,388
NET CURRENT ASSETS 2,378,163 2,071,999
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,592,828

2,207,505

CREDITORS
Amounts falling due after more than one
year

7

(101,847

)

(165,452

)

PROVISIONS FOR LIABILITIES (52,479 ) (33,877 )
NET ASSETS 2,438,502 2,008,176

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,438,402 2,008,076
SHAREHOLDERS' FUNDS 2,438,502 2,008,176

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Chalk Creatives Ltd (Registered number: 09585575)

Balance Sheet - continued
31 May 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 October 2024 and were signed by:





A P D Ward - Director


Chalk Creatives Ltd (Registered number: 09585575)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Chalk Creatives Ltd 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
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 25% on cost, 15% on cost and 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company has considered and applied the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted as at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt Instruments are subsequently carried at amortised cost, using the effective interest rate method.


Chalk Creatives Ltd (Registered number: 09585575)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 11 ) .

Chalk Creatives Ltd (Registered number: 09585575)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 211,529
Additions 138,206
Disposals (23,000 )
At 31 May 2024 326,735
DEPRECIATION
At 1 June 2023 76,023
Charge for year 45,755
Eliminated on disposal (9,708 )
At 31 May 2024 112,070
NET BOOK VALUE
At 31 May 2024 214,665
At 31 May 2023 135,506

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023 81,369
Additions 67,439
At 31 May 2024 148,808
DEPRECIATION
At 1 June 2023 15,215
Charge for year 26,350
At 31 May 2024 41,565
NET BOOK VALUE
At 31 May 2024 107,243
At 31 May 2023 66,154

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 518,596 124,085
Amounts owed by associates 1,469,031 265,873
Other debtors 272,701 537,744
2,260,328 927,702

Chalk Creatives Ltd (Registered number: 09585575)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts - 46,357
Hire purchase contracts 17,139 7,869
Trade creditors 909,812 171,735
Amounts owed to associates 13,500 18,000
Taxation and social security 245,735 248,213
Other creditors 31,085 51,214
1,217,271 543,388

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans - 109,937
Hire purchase contracts 101,847 55,515
101,847 165,452

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 17,223

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
A P D Ward
Balance outstanding at start of year 379,535 84,558
Amounts advanced - 294,977
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 379,535

Interest is payable on the overdrawn directors loan at the official rate of interest.