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Registered number: 03289852
Village Design & Creative Marketing Limited
Financial Statements
For The Year Ended 30 April 2024
Oakensen (Bristol) Limited
Chartered Accountants
Westbury Court Church Road
Westbury On Trym
Bristol
BS9 3EF
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 03289852
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 71,386 83,927
Investments 6 64,178 64,178
135,564 148,105
CURRENT ASSETS
Debtors 7 819,693 799,662
Cash at bank and in hand 296,302 392,119
1,115,995 1,191,781
Creditors: Amounts Falling Due Within One Year 8 (261,869 ) (265,774 )
NET CURRENT ASSETS (LIABILITIES) 854,126 926,007
TOTAL ASSETS LESS CURRENT LIABILITIES 989,690 1,074,112
Creditors: Amounts Falling Due After More Than One Year 9 (63,807 ) (105,264 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,272 ) (12,289 )
NET ASSETS 914,611 956,559
CAPITAL AND RESERVES
Called up share capital 11 14,070 14,070
Share premium account 174,691 174,691
Capital redemption reserve 1,600 1,600
Profit and Loss Account 724,250 766,198
SHAREHOLDERS' FUNDS 914,611 956,559
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For the year ending 30 April 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J M Williams
Director
14 November 2024
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Village Design & Creative Marketing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03289852 . The registered office is Whitefriars Suite A, Fifth Floor, Lewins Mead, Bristol, BS1 2NT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Over 5 years
Fixtures & Fittings Over 7 years
Computer Equipment Over 4 years
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. 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 years 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 10)
11 10
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 58,577
Disposals (58,577 )
As at 30 April 2024 -
Amortisation
As at 1 May 2023 58,577
Disposals (58,577 )
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 -
As at 1 May 2023 -
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5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 39,579 52,077 42,451 134,107
Additions - - 10,109 10,109
As at 30 April 2024 39,579 52,077 52,560 144,216
Depreciation
As at 1 May 2023 7,916 10,547 31,717 50,180
Provided during the period 7,916 7,515 7,219 22,650
As at 30 April 2024 15,832 18,062 38,936 72,830
Net Book Value
As at 30 April 2024 23,747 34,015 13,624 71,386
As at 1 May 2023 31,663 41,530 10,734 83,927
6. Investments
Associates
£
Cost
As at 1 May 2023 64,178
As at 30 April 2024 64,178
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 64,178
As at 1 May 2023 64,178
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 180,293 137,897
Amounts recoverable on contracts 117,893 128,118
Other debtors 17,038 16,531
Amounts owed by group undertakings 504,469 517,116
819,693 799,662
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,584 16,351
Trade creditors 50,233 39,583
Bank loans and overdrafts 35,004 35,004
Corporation tax 75,087 59,867
Other taxes and social security 6,059 6,257
VAT 34,449 35,819
Other creditors 4,249 4,031
Accruals and deferred income 54,204 68,862
261,869 265,774
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 2,753
Bank loans 55,461 90,427
Accruals and deferred income 8,346 12,084
63,807 105,264
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 2,584 16,351
Later than one year and not later than five years - 2,753
2,584 19,104
2,584 19,104
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11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 14,070 14,070
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 43,866 45,464
Later than one year and not later than five years 3,114 45,049
46,980 90,513
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