The Door Creative Agency Ltd 08864720 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is creative design agency Digita Accounts Production Advanced 6.30.9574.0 true true 08864720 2023-03-01 2024-02-29 08864720 2024-02-29 08864720 bus:HighestPaidDirector 1 2024-02-29 08864720 bus:OrdinaryShareClass1 2024-02-29 08864720 core:CurrentFinancialInstruments 2024-02-29 08864720 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 08864720 core:Non-currentFinancialInstruments 2024-02-29 08864720 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 08864720 core:Goodwill 2024-02-29 08864720 core:FurnitureFittingsToolsEquipment 2024-02-29 08864720 core:MotorVehicles 2024-02-29 08864720 core:OtherPropertyPlantEquipment 2024-02-29 08864720 bus:SmallEntities 2023-03-01 2024-02-29 08864720 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 08864720 bus:FilletedAccounts 2023-03-01 2024-02-29 08864720 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 08864720 bus:RegisteredOffice 2023-03-01 2024-02-29 08864720 bus:HighestPaidDirector 2023-03-01 2024-02-29 08864720 bus:HighestPaidDirector 1 2023-03-01 2024-02-29 08864720 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 08864720 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08864720 core:Goodwill 2023-03-01 2024-02-29 08864720 core:FurnitureFittings 2023-03-01 2024-02-29 08864720 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 08864720 core:MotorVehicles 2023-03-01 2024-02-29 08864720 core:OfficeEquipment 2023-03-01 2024-02-29 08864720 core:OtherPropertyPlantEquipment 2023-03-01 2024-02-29 08864720 core:PlantMachinery 2023-03-01 2024-02-29 08864720 countries:AllCountries 2023-03-01 2024-02-29 08864720 2023-02-28 08864720 bus:HighestPaidDirector 1 2023-02-28 08864720 core:Goodwill 2023-02-28 08864720 core:FurnitureFittingsToolsEquipment 2023-02-28 08864720 core:MotorVehicles 2023-02-28 08864720 core:OtherPropertyPlantEquipment 2023-02-28 08864720 2022-03-01 2023-02-28 08864720 2023-02-28 08864720 bus:HighestPaidDirector 1 2023-02-28 08864720 bus:OrdinaryShareClass1 2023-02-28 08864720 core:CurrentFinancialInstruments 2023-02-28 08864720 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 08864720 core:Non-currentFinancialInstruments 2023-02-28 08864720 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 08864720 core:FurnitureFittingsToolsEquipment 2023-02-28 08864720 core:MotorVehicles 2023-02-28 08864720 core:OtherPropertyPlantEquipment 2023-02-28 08864720 bus:HighestPaidDirector 1 2022-03-01 2023-02-28 08864720 bus:HighestPaidDirector 1 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08864720

The Door Creative Agency Ltd

trading as The Door Creative

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

The Door Creative Agency Ltd

trading as The Door Creative

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

The Door Creative Agency Ltd

trading as The Door Creative

Company Information

Registered office

3 Stadium Court
Plantation Road
Bromborough
Wirral
CH62 3QG

Accountants

G W Kelly & Company
Chartered Certified Accountants
3 Stadium Court
Plantation Road
Bromborough
Merseyside
CH62 3QG

 

The Door Creative Agency Ltd

trading as The Door Creative

(Registration number: 08864720)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

120,660

45,779

Current assets

 

Debtors

6

152,421

184,768

Cash at bank and in hand

 

-

9,920

 

152,421

194,688

Creditors: Amounts falling due within one year

7

(164,073)

(104,714)

Net current (liabilities)/assets

 

(11,652)

89,974

Total assets less current liabilities

 

109,008

135,753

Creditors: Amounts falling due after more than one year

7

(104,973)

(131,686)

Provisions for liabilities

(3,901)

(3,901)

Net assets

 

134

166

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

34

66

Shareholders' funds

 

134

166

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 November 2024
 

 

The Door Creative Agency Ltd

trading as The Door Creative

(Registration number: 08864720)
Balance Sheet as at 29 February 2024

.........................................
Mr D Dyson
Director

 

The Door Creative Agency Ltd

trading as The Door Creative

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
3 Stadium Court
Plantation Road
Bromborough
Wirral
CH62 3QG

The principal place of business is:
Unit 9A
Dunningsbridge Business Park
Dunningsbridge Road
Liverpool
L30 6TL

These financial statements were authorised for issue by the director on 29 November 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.

 

The Door Creative Agency Ltd

trading as The Door Creative

Notes to the Unaudited Financial Statements for the Year Ended 29 February 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 and Fittings

10 %-25% reducing balance

Motor Vehicles

25% reducing balance

Office Equipment

25% reducing balance

Plant & Machinery

20% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% per annum

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.

 

The Door Creative Agency Ltd

trading as The Door Creative

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

The Door Creative Agency Ltd

trading as The Door Creative

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets,financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability are charged as interest expense in the profit and loss account.
 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 5).

 

The Door Creative Agency Ltd

trading as The Door Creative

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 March 2023

10,000

10,000

At 29 February 2024

10,000

10,000

Amortisation

At 1 March 2023

10,000

10,000

At 29 February 2024

10,000

10,000

Carrying amount

At 29 February 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2023

65,686

22,363

-

88,049

Additions

94,957

17,340

650

112,947

Disposals

-

(22,363)

-

(22,363)

At 29 February 2024

160,643

17,340

650

178,633

Depreciation

At 1 March 2023

36,679

5,591

-

42,270

Charge for the year

16,829

4,335

130

21,294

Eliminated on disposal

-

(5,591)

-

(5,591)

At 29 February 2024

53,508

4,335

130

57,973

Carrying amount

At 29 February 2024

107,135

13,005

520

120,660

At 28 February 2023

29,007

16,772

-

45,779

 

The Door Creative Agency Ltd

trading as The Door Creative

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

35,559

58,853

Prepayments

7,557

7,557

Other debtors

109,305

118,358

 

152,421

184,768

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

52,635

14,223

Trade creditors

 

57,851

35,733

Social security and other taxes

 

36,465

29,671

Outstanding defined contribution pension costs

 

1,146

727

Other payables

 

101

101

Income tax liability

15,875

24,259

 

164,073

104,714

Due after one year

 

Loans and borrowings

104,973

131,686

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

-

Bank overdrafts

15,375

7,990

HP and finance lease liabilities

5,364

6,233

Other borrowings

21,896

-

52,635

14,223

 

The Door Creative Agency Ltd

trading as The Door Creative

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

104,973

131,686

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

12,500

32,500

HP and finance lease liabilities

14,162

17,859

Other borrowings

78,311

81,327

104,973

131,686

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Related party transactions

Transactions with the director

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Mr D Dyson

Loan at official rate of interest

9,767

23,003

(9,767)

23,003

2023

At 1 March 2022
£

Advances to director
£

Repayments by director
£

At 28 February 2023
£

Mr D Dyson

Loan at official rate of interest

11,348

9,767

(11,348)

9,767

 

The Door Creative Agency Ltd

trading as The Door Creative

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

20,140

1,042