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Company Registration No. 13938208 (England and Wales)
TK Creative Ltd Unaudited accounts for the year ended 31 March 2024
TK Creative Ltd Unaudited accounts Contents
Page
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TK Creative Ltd Company Information for the year ended 31 March 2024
Director
Thomas Luke Kulczycki
Company Number
13938208 (England and Wales)
Registered Office
32 Knowl Road MIirfield WF14 8DJ United Kingdom
Accountants
True North Accountancy Ltd 19 Forest Crescent Illingworth Halifax West Yorkshire HX2 8DS
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TK Creative Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
8,204 
3,543 
Current assets
Debtors
1,314 
3,020 
Cash at bank and in hand
8,674 
15,867 
9,988 
18,887 
Creditors: amounts falling due within one year
(5,639)
(5,478)
Net current assets
4,349 
13,409 
Total assets less current liabilities
12,553 
16,952 
Provisions for liabilities
Deferred tax
(1,559)
(847)
Net assets
10,994 
16,105 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
10,993 
16,104 
Shareholders' funds
10,994 
16,105 
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 October 2024 and were signed on its behalf by
Thomas Luke Kulczycki Director Company Registration No. 13938208
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TK Creative Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
TK Creative Ltd is a private company, limited by shares, registered in England and Wales, registration number 13938208. The registered office is 32 Knowl Road, MIirfield, WF14 8DJ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Computer equipment
33% Reducing Balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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TK Creative Ltd Notes to the Accounts for the year ended 31 March 2024
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
603 
3,000 
3,603 
Additions
5,329 
1,199 
6,528 
At 31 March 2024
5,932 
4,199 
10,131 
Depreciation
At 1 April 2023
52 
8 
60 
Charge for the year
730 
1,137 
1,867 
At 31 March 2024
782 
1,145 
1,927 
Net book value
At 31 March 2024
5,150 
3,054 
8,204 
At 31 March 2023
551 
2,992 
3,543 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
97 
- 
Trade debtors
1,000 
3,020 
Accrued income and prepayments
217 
- 
1,314 
3,020 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
5,639 
5,333 
Loans from directors
- 
145 
5,639 
5,478 
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TK Creative Ltd Notes to the Accounts for the year ended 31 March 2024
7
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
1,559 
847 
2024 
2023 
£ 
£ 
Provision at start of year
847 
- 
Charged to the profit and loss account
712 
847 
Provision at end of year
1,559 
847 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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