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REGISTERED NUMBER: 03630588 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

THE OUTLOOK CREATIVE GROUP LTD

THE OUTLOOK CREATIVE GROUP LTD (REGISTERED NUMBER: 03630588)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


THE OUTLOOK CREATIVE GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J Farmer
A C Sherlock
J Lloyd
A Sherlock
S M Booth



REGISTERED OFFICE: The Courtyard
Orchard Hill
Little Billing
Northampton
NN3 9AG



REGISTERED NUMBER: 03630588 (England and Wales)



ACCOUNTANTS: Shaw Gibbs Limited
Eagle House
28 Billing Road
Northampton
NN1 5AJ



BANKERS: Barclays Bank plc
Leicester Corporate Banking Centre
Meridian Business Park
Leicester
Leicestershire
LE3 2RN

THE OUTLOOK CREATIVE GROUP LTD (REGISTERED NUMBER: 03630588)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 287,540 350,005
287,540 350,005

CURRENT ASSETS
Debtors 6 1,912,055 2,269,370
Cash at bank and in hand 1,036,176 1,988,011
2,948,231 4,257,381
CREDITORS
Amounts falling due within one year 7 1,535,392 2,208,285
NET CURRENT ASSETS 1,412,839 2,049,096
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,700,379

2,399,101

CREDITORS
Amounts falling due after more than one
year

8

(124,510

)

(165,455

)

PROVISIONS FOR LIABILITIES (59,929 ) (74,781 )
NET ASSETS 1,515,940 2,158,865

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 1,415,940 2,058,865
SHAREHOLDERS' FUNDS 1,515,940 2,158,865

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.

THE OUTLOOK CREATIVE GROUP LTD (REGISTERED NUMBER: 03630588)

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2024 and were signed on its behalf by:





S M Booth - Director


THE OUTLOOK CREATIVE GROUP LTD (REGISTERED NUMBER: 03630588)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

The Outlook Creative Group 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.

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.

Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Turnover
Turnover represents revenue earned under a wide variety of service contracts. Revenue is recognised as earned when, and to the extent that, a right to consideration arises in exchange for the performance of obligations under these contracts. It is measured at the fair value of the right to consideration, which represents the amount billable to clients, including expenses and disbursements but excluding value added tax.

In respect of incomplete contracts, and to the extent that a right to consideration arises, the amount of revenue recognised reflects the accrual of the right to this consideration by reference to the value of work performed to date. Revenue not billed to clients is included in debtors and payments received on account in excess of the relevant amount of revenue are included in creditors.

Goodwill
Goodwill has been fully amortised.

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.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - 33% on cost and 20% on cost

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.


THE OUTLOOK CREATIVE GROUP LTD (REGISTERED NUMBER: 03630588)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


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

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

THE OUTLOOK CREATIVE GROUP LTD (REGISTERED NUMBER: 03630588)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 70 (2023 - 77 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 272,462
AMORTISATION
At 1 April 2023
and 31 March 2024 272,462
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

THE OUTLOOK CREATIVE GROUP LTD (REGISTERED NUMBER: 03630588)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 73,459 12,706 669,425 755,590
Additions - - 85,208 85,208
Disposals - (12,706 ) (15,081 ) (27,787 )
At 31 March 2024 73,459 - 739,552 813,011
DEPRECIATION
At 1 April 2023 46,333 12,706 346,546 405,585
Charge for year 4,069 - 142,873 146,942
Eliminated on disposal - (12,706 ) (14,350 ) (27,056 )
At 31 March 2024 50,402 - 475,069 525,471
NET BOOK VALUE
At 31 March 2024 23,057 - 264,483 287,540
At 31 March 2023 27,126 - 322,879 350,005

The net book value of tangible fixed assets includes £ 161,182 (2023 - £ 208,357 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 994,640 1,358,155
Amounts owed by group undertakings 435,155 375,596
Amounts recoverable on contract 373,377 424,681
Other debtors 61,946 63,421
Prepayments 46,937 47,517
1,912,055 2,269,370

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 45,382 46,781
Trade creditors 195,618 287,769
Tax 25,324 45,352
Social security and other taxes 72,159 82,770
VAT 17,336 117,525
Other creditors 17,663 19,479
Accruals and deferred income 1,161,910 1,608,609
1,535,392 2,208,285

THE OUTLOOK CREATIVE GROUP LTD (REGISTERED NUMBER: 03630588)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 124,510 165,455

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 45,382 46,781
Between one and five years 124,510 165,455
169,892 212,236

Non-cancellable operating leases
2024 2023
£    £   
Within one year 65,498 70,815
Between one and five years - 65,498
65,498 136,313

10. PARENT COMPANY

The company's immediate parent company is The Outlook Creative Group (2017) Limited. The ultimate parent company and also controlling party is The Outlook Creative Group (2024) Limited. The address of all companies is The Courtyard, Orchard Hill, Little Billing, Northampton NN3 9AG.