Silverfin false false 30/06/2024 01/07/2023 30/06/2024 S C Benhayon 23 February 2025 The principal activity of the Company during the financial year was other sports activities. 08800589 2024-06-30 08800589 2023-06-30 08800589 core:CurrentFinancialInstruments 2024-06-30 08800589 core:CurrentFinancialInstruments 2023-06-30 08800589 core:ShareCapital 2024-06-30 08800589 core:ShareCapital 2023-06-30 08800589 core:RetainedEarningsAccumulatedLosses 2024-06-30 08800589 core:RetainedEarningsAccumulatedLosses 2023-06-30 08800589 core:PlantMachinery 2023-06-30 08800589 core:FurnitureFittings 2023-06-30 08800589 core:ComputerEquipment 2023-06-30 08800589 core:PlantMachinery 2024-06-30 08800589 core:FurnitureFittings 2024-06-30 08800589 core:ComputerEquipment 2024-06-30 08800589 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2024-06-30 08800589 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2023-06-30 08800589 2023-07-01 2024-06-30 08800589 bus:FilletedAccounts 2023-07-01 2024-06-30 08800589 bus:SmallEntities 2023-07-01 2024-06-30 08800589 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 08800589 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08800589 bus:Director1 2023-07-01 2024-06-30 08800589 core:PlantMachinery core:TopRangeValue 2023-07-01 2024-06-30 08800589 core:FurnitureFittings 2023-07-01 2024-06-30 08800589 core:ComputerEquipment core:TopRangeValue 2023-07-01 2024-06-30 08800589 2022-07-01 2023-06-30 08800589 core:PlantMachinery 2023-07-01 2024-06-30 08800589 core:ComputerEquipment 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Company No: 08800589 (England and Wales)

CREATIVE AQUATIC LTD

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

CREATIVE AQUATIC LTD

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

CREATIVE AQUATIC LTD

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
CREATIVE AQUATIC LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 30.06.2024 30.06.2023
£ £
Fixed assets
Tangible assets 3 73,557 52,687
73,557 52,687
Current assets
Stocks 13,922 4,615
Debtors 4 20,127 7,880
Cash at bank and in hand 409,762 271,861
443,811 284,356
Creditors: amounts falling due within one year 5 ( 72,099) ( 47,692)
Net current assets 371,712 236,664
Total assets less current liabilities 445,269 289,351
Provision for liabilities ( 18,359) ( 13,171)
Net assets 426,910 276,180
Capital and reserves
Called-up share capital 100 100
Profit and loss account 426,810 276,080
Total shareholder's funds 426,910 276,180

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Creative Aquatic Ltd (registered number: 08800589) were approved and authorised for issue by the Director on 23 February 2025. They were signed on its behalf by:

S C Benhayon
Director
CREATIVE AQUATIC LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
CREATIVE AQUATIC LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Creative Aquatic Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor Stratus House Emperor Way, Exeter Business Park, Exeter, EX1 3QS, United Kingdom. The principal place of business is The Lighthouse, Tytherington, Frome, BA11 5BW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Plant and machinery 3 years straight line
Fixtures and fittings 15 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

30.06.2024 30.06.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 9 9

3. Tangible assets

Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 July 2023 23,254 39,508 23,814 86,576
Additions 39,769 0 0 39,769
At 30 June 2024 63,023 39,508 23,814 126,345
Accumulated depreciation
At 01 July 2023 5,383 13,621 14,885 33,889
Charge for the financial year 12,017 3,884 2,998 18,899
At 30 June 2024 17,400 17,505 17,883 52,788
Net book value
At 30 June 2024 45,623 22,003 5,931 73,557
At 30 June 2023 17,871 25,887 8,929 52,687

4. Debtors

30.06.2024 30.06.2023
£ £
Amounts owed by connected companies 8,181 6,680
Amounts owed by director 2,985 0
Prepayments 4,038 0
Other debtors 4,923 1,200
20,127 7,880

5. Creditors: amounts falling due within one year

30.06.2024 30.06.2023
£ £
Amounts owed to director 0 1,896
Accruals 3,004 2,592
Taxation and social security 68,226 43,204
Other creditors 869 0
72,099 47,692

6. Related party transactions

Transactions with the entity's director

At the balance sheet date, amounts owed by the director totalled £2,985 (2023: £1,896 owed to the director). £13,409 was advanced to the director, and £8,528 was repaid. Interest has been recognised on the loan at 2.25% and is repayable on demand.