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COMPANY REGISTRATION NUMBER: 08551495
AH DESIGN CREATIVE LIMITED
Unaudited Financial Statements
31 May 2024
AH DESIGN CREATIVE LIMITED
Financial Statements
Year ended 31 May 2024
Contents
Page
Directors' report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
5
The following pages do not form part of the financial statements
Accountants report to the board of directors on the preparation of the unaudited statutory financial statements
10
AH DESIGN CREATIVE LIMITED
Directors' Report
Year ended 31 May 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 May 2024 .
Directors
The directors who served the company during the year were as follows:
Miss V Axford
Mr A Harrison
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 17 February 2025 and signed on behalf of the board by:
Mr A Harrison
Director
Company Secretary
Registered office:
385 Crewe Road
Wistaston
Nantwich
Cheshire
United Kingdom
CW5 6NW
AH DESIGN CREATIVE LIMITED
Statement of Income and Retained Earnings
Year ended 31 May 2024
2024
2023
Note
£
£
Turnover
97,971
91,620
Cost of sales
116
--------
--------
Gross profit
97,971
91,504
Administrative expenses
34,593
28,621
--------
--------
Operating profit
63,378
62,883
--------
--------
Profit before taxation
5
63,378
62,883
Tax on profit
13,106
12,094
--------
--------
Profit for the financial year and total comprehensive income
50,272
50,789
--------
--------
Dividends paid and payable
( 63,410)
( 44,335)
Retained losses at the start of the year
( 8,711)
( 15,165)
--------
--------
Retained losses at the end of the year
( 21,849)
( 8,711)
--------
--------
All the activities of the company are from continuing operations.
AH DESIGN CREATIVE LIMITED
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
2,600
2,712
Current assets
Debtors
7
7,740
8,772
Cash at bank and in hand
752
1
-------
-------
8,492
8,773
Creditors: amounts falling due within one year
8
32,295
19,581
--------
--------
Net current liabilities
23,803
10,808
--------
--------
Total assets less current liabilities
( 21,203)
( 8,096)
Provisions
Taxation including deferred tax
546
515
--------
-------
Net liabilities
( 21,749)
( 8,611)
--------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 21,849)
( 8,711)
--------
-------
Shareholders deficit
( 21,749)
( 8,611)
--------
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 May 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
AH DESIGN CREATIVE LIMITED
Statement of Financial Position (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 17 February 2025 , and are signed on behalf of the board by:
Mr A Harrison
Director
Company registration number: 08551495
AH DESIGN CREATIVE LIMITED
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 385 Crewe Road, Wistaston, Nantwich, Cheshire, CW5 6NW, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Furniture and fittings
-
20% straight line
Office equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
1,374
1,098
-------
-------
6. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 June 2023
303
13,510
13,813
Additions
1,262
1,262
----
--------
--------
At 31 May 2024
303
14,772
15,075
----
--------
--------
Depreciation
At 1 June 2023
303
10,798
11,101
Charge for the year
1,374
1,374
----
--------
--------
At 31 May 2024
303
12,172
12,475
----
--------
--------
Carrying amount
At 31 May 2024
2,600
2,600
----
--------
--------
At 31 May 2023
2,712
2,712
----
--------
--------
7. Debtors
2024
2023
£
£
Trade debtors
7,740
8,772
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,158
1,261
Corporation tax
17,996
11,450
Social security and other taxes
4,818
5,108
Other creditors
7,323
1,762
--------
--------
32,295
19,581
--------
--------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr A Harrison
( 5,973)
( 5,973)
----
-------
-------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr A Harrison
----
----
----
AH DESIGN CREATIVE LIMITED
Management Information
Year ended 31 May 2024
The following pages do not form part of the financial statements.
AH DESIGN CREATIVE LIMITED
Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of AH Design Creative Limited
Year ended 31 May 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 May 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
QUANTOCK SMALL BUSINESS SERVICES LTD Accountants
1 Poppy Walk Bridgwater Somerset TA5 2ES
13 February 2025