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Registration number: 07999042

CoCreate Consultancy Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

CoCreate Consultancy Ltd

Contents

Company Information

1

Profit and Loss Account

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 10

 

CoCreate Consultancy Ltd

Company Information

Directors

Mr Andrew Caldwell

Mr Tom James

Mrs Anna Caldwell

Mrs Lisa James

Registered office

Glove Factory Studios
Brook Lane
Holt
Bradford-On-Avon
BA14 6RL

Accountants

Delphi Accounting Ltd
Chartered Tax Advisers
Unit M6
Frome Business Park
Manor Road
Frome
Somerset
BA11 4FN

 

CoCreate Consultancy Ltd

Profit and Loss Account for the Year Ended 31 March 2024

Note

2024
£

2023
£

Turnover

 

931,718

883,654

Cost of sales

 

(359,463)

(312,430)

Gross profit

 

572,255

571,224

Administrative expenses

 

(330,941)

(298,047)

Other operating income

 

470

-

Operating profit

 

241,784

273,177

Interest payable and similar expenses

 

(89)

(28)

Profit before tax

241,695

273,149

Tax on profit

 

(60,810)

(52,304)

Profit for the financial year

 

180,885

220,845

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

CoCreate Consultancy Ltd

(Registration number: 07999042)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,617

1,693

Current assets

 

Debtors

5

159,846

208,280

Investments

6

50,000

50,000

Cash at bank and in hand

 

229,081

320,750

 

438,927

579,030

Creditors: Amounts falling due within one year

7

(224,549)

(379,013)

Net current assets

 

214,378

200,017

Net assets

 

215,995

201,710

Capital and reserves

 

Called up share capital

8

167

167

Share premium reserve

7,133

7,133

Retained earnings

208,695

194,410

Shareholders' funds

 

215,995

201,710

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 30 October 2024 and signed on its behalf by:
 

.........................................
Mr Andrew Caldwell
Director

 

CoCreate Consultancy Ltd

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 United Kingdom.

The address of its registered office is:
Glove Factory Studios
Brook Lane
Holt
Bradford-On-Avon
BA14 6RL
England

These financial statements were authorised for issue by the Board on 30 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

CoCreate Consultancy Ltd

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

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.

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

Fixtures & Fittings

33% SL

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

CoCreate Consultancy Ltd

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 5 (2023 - 5).

 

CoCreate Consultancy Ltd

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

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 April 2023

11,058

11,058

Additions

1,823

1,823

At 31 March 2024

12,881

12,881

Depreciation

At 1 April 2023

9,365

9,365

Charge for the year

1,899

1,899

At 31 March 2024

11,264

11,264

Carrying amount

At 31 March 2024

1,617

1,617

At 31 March 2023

1,693

1,693

5

Debtors

Current

2024
£

2023
£

Trade debtors

158,028

200,474

Prepayments

-

3,076

Other debtors

1,818

4,730

 

159,846

208,280

6

Current asset investments

2024
£

2023
£

Other investments

50,000

50,000

7

Creditors

Creditors: amounts falling due within one year

 

CoCreate Consultancy Ltd

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

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

806

-

Trade creditors

 

26,304

26,793

Taxation and social security

 

107,036

137,438

Accruals and deferred income

 

5,859

15,633

Other creditors

 

84,544

199,149

 

224,549

379,013

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A Ordinary of £0.01 each

5,000

50

5,000

50

B Ordinary of £0.01 each

5,000

50

5,000

50

C Ordinary of £0.01 each

3,334

33

3,334

33

D Ordinary of £0.01 each

3,333

33

3,333

33

16,667

167

16,667

167

 

CoCreate Consultancy Ltd

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

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

806

-

10

Dividends

Final dividends paid

2024
£

2023
£

Final dividend of £11.52 (2023 - £16.10) per each A Ordinary

57,600

80,500

Final dividend of £12.30 (2023 - £10.00) per each B Ordinary

61,500

50,000

Final dividend of £8.25 (2023 - £11.25) per each C Ordinary

27,500

37,500

Final dividend of £6.00 (2023 - £10.80) per each D Ordinary

20,000

36,000

166,600

204,000

11

Related party transactions

 

CoCreate Consultancy Ltd

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

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

50,280

50,280