2023-03-012024-02-292024-02-29false10612077Creative Concepts TV 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Creative Concepts TV Ltd

Registered Number
10612077
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

Creative Concepts TV Ltd
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

Jesse Collard

Registered Address

Grove House
2 Woodberry Grove
London
N12 0DR

Registered Number

10612077 (England and Wales)
Creative Concepts TV Ltd
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets334,97517,517
Investments425,00025,471
59,97542,988
Current assets
Debtors58,76310,035
Cash at bank and on hand8,98911,070
17,75221,105
Creditors amounts falling due within one year6(22,152)(26,428)
Net current assets (liabilities)(4,400)(5,323)
Total assets less current liabilities55,57537,665
Creditors amounts falling due after one year7(18,735)(5,351)
Provisions for liabilities8(6,953)(3,328)
Net assets29,88728,986
Capital and reserves
Called up share capital100100
Profit and loss account29,78728,886
Shareholders' funds29,88728,986
The financial statements were approved and authorised for issue by the Director on 8 November 2024, and are signed on its behalf by:
Jesse Collard
Director
Registered Company No. 10612077
Creative Concepts TV Ltd
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and 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 (£).
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,value added tax and other sales taxes. Turnover is recognised when the services are provided to the customer.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 March 2340,01510,10050,115
Additions48026,99427,474
Disposals-(10,100)(10,100)
At 29 February 2440,49526,99467,489
Depreciation and impairment
At 01 March 2324,6557,94332,598
Charge for year3,9233,9377,860
On disposals-(7,944)(7,944)
At 29 February 2428,5783,93632,514
Net book value
At 29 February 2411,91723,05834,975
At 28 February 2315,3602,15717,517
4.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 March 2325,47125,471
Disposals(471)(471)
At 29 February 2425,00025,000
Net book value
At 29 February 2425,00025,000
At 28 February 2325,47125,471

Notes

1Other investments other than loans
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables7,9299,408
Prepayments and accrued income834627
Total8,76310,035
6.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts-3,816
Taxation and social security9,83511,365
Other creditors11,21410,198
Accrued liabilities and deferred income1,1031,049
Total22,15226,428
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts-5,351
Other creditors18,735-
Total18,7355,351
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)6,9533,328
Total6,9533,328
9.Related party transactions
During the year, total dividends of £9,000 (2023 - £9,000) were paid to the director. Loans from the director At the balance sheet date the company owed £4,911 (2023 - £10,198) to the director which is an interest free loan with no fixed date for repayment. In addition, other creditors included a loan in the sum of £25,037 borrowed by the director personally to finance the new van bought during the year.