Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 04158643 Mrs Laura Heraty Mr Austin Heraty its directors true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04158643 2023-03-31 04158643 2024-03-31 04158643 2023-04-01 2024-03-31 04158643 frs-core:CurrentFinancialInstruments 2024-03-31 04158643 frs-core:ComputerEquipment 2024-03-31 04158643 frs-core:ComputerEquipment 2023-04-01 2024-03-31 04158643 frs-core:ComputerEquipment 2023-03-31 04158643 frs-core:PlantMachinery 2024-03-31 04158643 frs-core:PlantMachinery 2023-04-01 2024-03-31 04158643 frs-core:PlantMachinery 2023-03-31 04158643 frs-core:ShareCapital 2024-03-31 04158643 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 04158643 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04158643 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 04158643 frs-bus:SmallEntities 2023-04-01 2024-03-31 04158643 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04158643 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04158643 1 2023-04-01 2024-03-31 04158643 frs-bus:Director1 2023-04-01 2024-03-31 04158643 frs-bus:Director2 2023-04-01 2024-03-31 04158643 frs-countries:EnglandWales 2023-04-01 2024-03-31 04158643 2022-03-31 04158643 2023-03-31 04158643 2022-04-01 2023-03-31 04158643 frs-core:CurrentFinancialInstruments 2023-03-31 04158643 frs-core:ShareCapital 2023-03-31 04158643 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 04158643
Born Creative Limited
Financial Statements
For The Year Ended 31 March 2024
Applewood LLP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 04158643
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 809
- 809
CURRENT ASSETS
Debtors 5 15,567 11,975
Cash at bank and in hand 98,933 110,817
114,500 122,792
Creditors: Amounts Falling Due Within One Year 6 (3,806 ) (2,292 )
NET CURRENT ASSETS (LIABILITIES) 110,694 120,500
TOTAL ASSETS LESS CURRENT LIABILITIES 110,694 121,309
PROVISIONS FOR LIABILITIES
Deferred Taxation - (154 )
NET ASSETS 110,694 121,155
CAPITAL AND RESERVES
Called up share capital 7 6 6
Profit and Loss Account 110,688 121,149
SHAREHOLDERS' FUNDS 110,694 121,155
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Page 2
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 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
Mrs Laura Heraty
Director
07/05/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Born Creative Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04158643 . The registered office is Priory Cottage, Priory Green, Edwardstone, Suffolk, CO10 5PN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Born Creative Limited is a Designated Member of a limited liability partnership. Its share of income and expenses from this partnership are included within sales, cost of sales and expenses within the profit and loss account.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Plant & Machinery 25% straight line
Computer Equipment 50% straight line
2.4. 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.
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 asset reflects 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:
2024 2023
Office and administration 2 2
2 2
Page 3
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 3,234 488 3,722
As at 31 March 2024 3,234 488 3,722
Depreciation
As at 1 April 2023 2,425 488 2,913
Provided during the period 809 - 809
As at 31 March 2024 3,234 488 3,722
Net Book Value
As at 31 March 2024 - - -
As at 1 April 2023 809 - 809
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 157 131
Other debtors 15,410 11,844
15,567 11,975
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 8 8
Corporation tax 3,798 2,284
3,806 2,292
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 6 6
8. Ultimate Controlling Party
The company's ultimate controlling party is its directors by virtue of their ownership of 100% of the issued share capital in the company.
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