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Logo On Report
Registered Number: 11767154


 

 

 


Unaudited Financial Statements

for the year ended 31 January 2024

for

TRENDY GRANDAD CREATIVE AGENCY LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 5,255    4,000 
Tangible fixed assets 4 19,600    24,998 
24,855    28,998 
Current assets      
Debtors 5 19,046    12,679 
Cash at bank and in hand 11,719    2,506 
30,765    15,185 
Creditors: amount falling due within one year 6 (32,048)   (44,020)
Net current assets (1,283)   (28,835)
 
Total assets less current liabilities 23,572    163 
Creditors: amount falling due after more than one year 7 (7,126)  
Accruals and deferred income (12,744)  
Provisions for liabilities 8 (3,528)  
Net assets 174    163 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 74    63 
Shareholders' funds 174    163 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 28 October 2024 and were signed on its behalf by:


-------------------------------
Adam Jones
Director
1
General Information
Trendy Grandad Creative Agency Ltd is a private company, limited by shares, registered in , registration number 11767154, registration address 33 THORPE AVENUE, NORWICH NORFOLK, NR7 0XA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 6 years.
Development expenditures
Research and development expenditure is charged to the income statement in the period in which it is incurred. However, where the directors are satisfied as to the technical, commercial and financial viability of individual projects, development expenditure is deferred and amortised over years during which the company is expected to benefit.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 5 Straight Line
Motor Vehicles 5 Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 4).
3.

Intangible fixed assets

Cost Goodwill   Other   Total
  £   £   £
At 01 February 2023 12,000      12,000 
Additions   3,500    3,500 
Disposals    
At 31 January 2024 12,000    3,500    15,500 
Amortisation
At 01 February 2023 8,000      8,000 
Charge for year 2,000    245    2,245 
On disposals    
At 31 January 2024 10,000    245    10,245 
Net book values
At 31 January 2024 2,000    3,255    5,255 
At 31 January 2023 4,000      4,000 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 February 2023 17,369    18,000    35,369 
Additions 1,917      1,917 
Disposals    
At 31 January 2024 19,286    18,000    37,286 
Depreciation
At 01 February 2023 6,771    3,600    10,371 
Charge for year 3,715    3,600    7,315 
On disposals    
At 31 January 2024 10,486    7,200    17,686 
Net book values
Closing balance as at 31 January 2024 8,800    10,800    19,600 
Opening balance as at 01 February 2023 10,598    14,400    24,998 


5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 7,354    12,600 
Other Debtors 79    79 
PAYE & Social Security 1,613   
Directors' Current Accounts 10,000   
19,046    12,679 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 3,460    5,983 
Bank Loans & Overdrafts (Secured) 2,333    3,333 
Corporation Tax 14,928    6,623 
Other Creditors (1)   1 
Obligations under HP/Financial Leases 2,701    12,528 
Pension payable 254   
Directors' Current Accounts   8,566 
VAT 8,373    6,986 
32,048    44,020 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Obligations Under HP/Financial Leases 7,126   
7,126   

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 3,528   
3,528   

2