Registered number
05769511
Creative Projects Limited
Filleted Accounts
30 April 2024
Creative Projects Limited
Registered number: 05769511
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Tangible assets 3 2,638 1,828
Current assets
Cash at bank and in hand 11,712 16,084
Creditors: amounts falling due within one year 4 (910) (1,091)
Net current assets 10,802 14,993
Net assets 13,440 16,821
Capital and reserves
Retained earnings 13,440 16,821
Members funds 13,440 16,821
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Darren Squires
Director
Approved by the board on 28 January 2025
Creative Projects Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
The corporation tax is not chargeable as the company is a not for profit organisation.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery
£
Cost
At 1 May 2023 7,776
Additions 1,629
Disposals (200)
At 30 April 2024 9,205
Depreciation
At 1 May 2023 5,948
Charge for the year 659
On disposals (40)
At 30 April 2024 6,567
Net book value
At 30 April 2024 2,638
At 30 April 2023 1,828
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 480 480
Other creditors 430 611
910 1,091
5 Other information
Creative Projects Limited is a private company limited by guarantee and incorporated in England. Its registered office is:
Unit 6
38-58 Selby Street
Hull
East Yorkshire
HU3 3PT
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