IRIS Accounts Production v24.2.0.383 07577416 director 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh075774162023-03-31075774162024-03-31075774162023-04-012024-03-31075774162022-03-31075774162022-04-012023-03-31075774162023-03-3107577416ns15:EnglandWales2023-04-012024-03-3107577416ns14:PoundSterling2023-04-012024-03-3107577416ns10:Director12023-04-012024-03-3107577416ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3107577416ns10:SmallEntities2023-04-012024-03-3107577416ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3107577416ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3107577416ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107577416ns10:FullAccounts2023-04-012024-03-3107577416ns10:RegisteredOffice2023-04-012024-03-3107577416ns5:CurrentFinancialInstruments2024-03-3107577416ns5:CurrentFinancialInstruments2023-03-3107577416ns5:ShareCapital2024-03-3107577416ns5:ShareCapital2023-03-3107577416ns5:RetainedEarningsAccumulatedLosses2024-03-3107577416ns5:RetainedEarningsAccumulatedLosses2023-03-3107577416ns5:ComputerEquipment2023-04-012024-03-3107577416ns5:ComputerEquipment2023-03-3107577416ns5:ComputerEquipment2024-03-3107577416ns5:ComputerEquipment2023-03-31
REGISTERED NUMBER: 07577416 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

BALANCE CREATIVE LTD

BALANCE CREATIVE LTD (REGISTERED NUMBER: 07577416)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BALANCE CREATIVE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTOR: A R Williams





REGISTERED OFFICE: 4 Purkiss Road
Hertford
Hertfordshire
SG13 8JA





REGISTERED NUMBER: 07577416 (England and Wales)





ACCOUNTANTS: Barker Wilkinson Limited
19-21 Middle Row
Stevenage
Hertfordshire
SG1 3AW

BALANCE CREATIVE LTD (REGISTERED NUMBER: 07577416)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 766 858

CURRENT ASSETS
Stocks 5 15,183 12,081
Debtors 6 5,395 6,770
Cash at bank 11,459 8,832
32,037 27,683
CREDITORS
Amounts falling due within one year 7 8,921 6,173
NET CURRENT ASSETS 23,116 21,510
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,882

22,368

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 23,881 22,367
23,882 22,368

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28th October 2024 and were signed by:





A R Williams - Director


BALANCE CREATIVE LTD (REGISTERED NUMBER: 07577416)

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

1. STATUTORY INFORMATION

Balance Creative 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.

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.

The director has assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The director has not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Further, the director continues to support the company by way of director funding and has not indicated that such support will be withdrawn in the foreseeable future. Therefore the financial statements for the year ended 31st March 2024 have been prepared using the going concern basis of accounting

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The directors consider all financial instruments to be basic financial instruments in accordance with paragraph 11 of FRS102. All basic financial instruments including trade and other debtors, cash and cash equivalents, and trade and other creditors, are initially recognised at transaction price and thereafter stated at amortised cost.


BALANCE CREATIVE LTD (REGISTERED NUMBER: 07577416)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st April 2023 6,523
Additions 166
At 31st March 2024 6,689
DEPRECIATION
At 1st April 2023 5,665
Charge for year 258
At 31st March 2024 5,923
NET BOOK VALUE
At 31st March 2024 766
At 31st March 2023 858

5. STOCKS
2024 2023
£    £   
Work-in-progress 15,183 12,081

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,395 6,770

BALANCE CREATIVE LTD (REGISTERED NUMBER: 07577416)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,893 868
Tax 4,540 2,081
Social security and other taxes 140 459
VAT 1,410 1,134
Other creditors 5 6
Directors' current accounts 13 139
Accrued expenses 920 1,486
8,921 6,173