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Registration number: 11328594

Showcase Creative Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Showcase Creative Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 10

 

Showcase Creative Ltd

Company Information

Directors

Mr Andrew Wreakes

Mr Jack Batey

Paul Batey

Registered office

C/O The Financial Management Centre
The Meads Business Centre
19 Kingsmead
Farnborough
Hants
GU14 7SR

Accountants

The Financial Management Centre The Meads Business Centre
19 Kingsmead
Farnborough
Hants
GU14 7SR

 

Showcase Creative Ltd

(Registration number: 11328594)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

178,330

320,585

Investments

5

43,280

-

 

221,610

320,585

Current assets

 

Stocks

6

36,380

21,655

Debtors

7

334,909

413,625

Cash at bank and in hand

 

62,422

88,490

 

433,711

523,770

Creditors: Amounts falling due within one year

8

(350,441)

(538,476)

Net current assets/(liabilities)

 

83,270

(14,706)

Total assets less current liabilities

 

304,880

305,879

Creditors: Amounts falling due after more than one year

8

(123,721)

(108,336)

Net assets

 

181,159

197,543

Capital and reserves

 

Called up share capital

9

1,000

1,000

Retained earnings

180,159

196,543

Shareholders' funds

 

181,159

197,543

For the financial 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.

Directors' 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 directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 January 2025 and signed on its behalf by:
 

.........................................
Mr Andrew Wreakes
Director

 

Showcase Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
C/O The Financial Management Centre
The Meads Business Centre
19 Kingsmead
Farnborough
Hants
GU14 7SR

These financial statements were authorised for issue by the Board on 17 January 2025.

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

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.

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.

 

Showcase Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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

office Equipment, Other Assts

25% on cost

Land and Buildings

25% on cost

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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.

 

Showcase Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

 

Showcase Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Defined benefit pension obligation

Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.

The liability recognised in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.

Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 14).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

73,332

46,637

390,279

510,248

Additions

-

4,942

25,629

30,571

Disposals

-

-

(97,545)

(97,545)

At 30 April 2024

73,332

51,579

318,363

443,274

Depreciation

At 1 May 2023

46,984

15,762

126,917

189,663

Charge for the year

7,560

11,845

61,608

81,013

Eliminated on disposal

-

-

(5,732)

(5,732)

At 30 April 2024

54,544

27,607

182,793

264,944

Carrying amount

At 30 April 2024

18,788

23,972

135,570

178,330

At 30 April 2023

26,348

30,875

263,362

320,585

Included within the net book value of land and buildings above is £18,788 (2023 - £26,348) in respect of short leasehold land and buildings.
 

 

Showcase Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Investments

2024
£

2023
£

Investments in associates

43,280

-

Associates

£

Cost

Provision

Provision

(43,280)

Carrying amount

At 30 April 2024

43,280

6

Stocks

2024
£

2023
£

Other inventories

36,380

21,655

7

Debtors

Current

2024
£

2023
£

Trade debtors

294,661

374,623

Prepayments

22,669

19,553

Other debtors

17,579

19,449

 

334,909

413,625

 

Showcase Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

8,516

10,755

Trade creditors

 

73,944

275,291

Taxation and social security

 

128,383

45,133

Accruals and deferred income

 

44,520

110,395

Other creditors

 

95,078

96,902

 

350,441

538,476

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

123,721

108,336

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

1,000

1,000

1,000

1,000

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

54,069

74,917

Other borrowings

69,652

33,419

123,721

108,336

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

8,516

10,755

 

Showcase Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

11

Dividends

2024

2023

£

£

Interim dividend of £121.29 (2023 - £121.29) per ordinary share

121,284

121,284

 

 

12

Related party transactions

 

Showcase Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

28,692

28,692