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REGISTERED NUMBER: 03749511 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

Creative Interior Contracts Limited

Creative Interior Contracts Limited (Registered number: 03749511)






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




Page

Company Information 1

Report of the Directors 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Creative Interior Contracts Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: I S Munro
A Teague
H Thomas



SECRETARY: A Teague



REGISTERED OFFICE: Grove House
1 Grove Place
Bedford
Bedfordshire
MK40 3JJ



REGISTERED NUMBER: 03749511 (England and Wales)



ACCOUNTANTS: Thompsons Accountancy Services Limited
Chartered Accountants
Grove House
1 Grove Place
Bedford
Bedfordshire
MK40 3JJ



BANKERS: Natwest Bank plc
81 High Street
Bedford
MK40 1YN

Creative Interior Contracts Limited (Registered number: 03749511)

Report of the Directors
for the Year Ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

I S Munro
A Teague
H Thomas

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





A Teague - Director


9 August 2024

Creative Interior Contracts Limited (Registered number: 03749511)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 213,057 95,007
213,057 95,007

CURRENT ASSETS
Debtors 6 967,344 1,059,416
Cash at bank and in hand 1,390,389 1,080,191
2,357,733 2,139,607
CREDITORS
Amounts falling due within one year 7 1,500,082 1,300,619
NET CURRENT ASSETS 857,651 838,988
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,070,708

933,995

CREDITORS
Amounts falling due after more than one year 8 (79,090 ) (172,002 )

PROVISIONS FOR LIABILITIES (53,264 ) (23,752 )
NET ASSETS 938,354 738,241

CAPITAL AND RESERVES
Called up share capital 109 109
Share premium 24,972 24,972
Capital redemption reserve 28 28
Retained earnings 913,245 713,132
SHAREHOLDERS' FUNDS 938,354 738,241

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Creative Interior Contracts Limited (Registered number: 03749511)

Statement of Financial Position - continued
31 March 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 Board of Directors and authorised for issue on 9 August 2024 and were signed on its behalf by:





A Teague - Director


Creative Interior Contracts Limited (Registered number: 03749511)

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

1. STATUTORY INFORMATION

Creative Interior Contracts 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue recognition
Turnover represents net amounts invoiced in the period, excluding VAT, together with amounts receivable on long term contracts, determined on the basis of the stage of completion of the job.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Creative Interior Contracts Limited (Registered number: 03749511)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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
Contributions in respect of the company's defined contribution pension scheme are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 36,000
AMORTISATION
At 1 April 2023
and 31 March 2024 36,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Creative Interior Contracts Limited (Registered number: 03749511)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 1,277 57,803 120,597 179,677
Additions - 8,575 147,605 156,180
At 31 March 2024 1,277 66,378 268,202 335,857
DEPRECIATION
At 1 April 2023 1,277 54,486 28,907 84,670
Charge for year - 1,937 36,193 38,130
At 31 March 2024 1,277 56,423 65,100 122,800
NET BOOK VALUE
At 31 March 2024 - 9,955 203,102 213,057
At 31 March 2023 - 3,317 91,690 95,007

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 646,277 938,472
Amounts recoverable on contracts 83,482 36,757
Other debtors 1,163 1,163
Directors' current accounts 191,575 41,271
Tax 16,261 16,159
Prepayments 28,586 25,594
967,344 1,059,416

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 92,942 92,942
Trade creditors 381,248 361,159
Tax 45,236 99,249
Social security and other taxes 53,590 53,289
VAT 250,034 273,133
Other creditors 8,795 27,891
Accrued expenses 668,237 392,956
1,500,082 1,300,619

Creative Interior Contracts Limited (Registered number: 03749511)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 64,423 92,942
Bank loans - 2-5 years 14,667 79,060
79,090 172,002

9. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £23,844 (2023 - £37,813).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
A Teague
Balance outstanding at start of year 15,000 -
Amounts advanced - 15,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,000 15,000

H Thomas
Balance outstanding at start of year 26,271 -
Amounts advanced 150,304 26,271
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 176,575 26,271

An amount of £43,362 representing work done by the company for a Director remains outstanding and is shown within Current Assets as Trade Debtors.