Company registration number 13629156 (England and Wales)
CREATIVE SPARROW LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CREATIVE SPARROW LTD
COMPANY INFORMATION
Director
Mrs H J Curtis
Company number
13629156
Registered office
12 Conqueror Court
Sittingbourne
Kent
United Kingdom
ME10 5BH
Accountants
Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
United Kingdom
ME10 5BH
CREATIVE SPARROW LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CREATIVE SPARROW LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
2,301
2,990
Tangible assets
4
3,570
2,673
5,871
5,663
Current assets
Debtors
5
38,368
28,719
Cash at bank and in hand
51,126
55,900
89,494
84,619
Creditors: amounts falling due within one year
6
(73,124)
(62,939)
Net current assets
16,370
21,680
Total assets less current liabilities
22,241
27,343
Provisions for liabilities
(892)
(508)
Net assets
21,349
26,835
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
21,348
26,834
Total equity
21,349
26,835
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 21 February 2025
Mrs H J Curtis
Director
Company registration number 13629156 (England and Wales)
CREATIVE SPARROW LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information
Creative Sparrow Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 12 Conqueror Court, Sittingbourne, Kent, United Kingdom, ME10 5BH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” “FRS 102”and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,value added tax and other sales taxes.
Turnover from the sale of artistic creation services is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
1.3
Intangible fixed assets - goodwill
Goodwill, being the nominal amount paid in connection with the transfer of intellectual property in 2021, is not being amortised, due to its fully written down carrying value.
1.4
Intangible fixed assets other than goodwill
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer software
5 years
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
33% on cost
Computer equipment
33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
CREATIVE SPARROW LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
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 current liabilities.
1.7
Financial instruments
Financial assets - trade and other debtors are basic financial instruments and debt instruments measured at fair value through the Income Statement and are measured subsequently at amortised cost. Prepayments are not financial instruments.
Cash comprises cash at bank, in hand and short term deposits with an original maturity date of three months or less. Cash at bank is measured at face value.
Financial liabilities - trade creditors and other creditors are measured initially at fair value through the Income statement and are measured subsequently at amortised cost.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
CREATIVE SPARROW LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Intangible fixed assets
Goodwill
Computer software
Total
£
£
£
Cost
At 1 October 2023 and 30 September 2024
1
3,450
3,451
Amortisation and impairment
At 1 October 2023
461
461
Amortisation charged for the year
689
689
At 30 September 2024
1,150
1,150
Carrying amount
At 30 September 2024
1
2,300
2,301
At 30 September 2023
1
2,989
2,990
4
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 October 2023
1,180
2,467
3,647
Additions
2,273
2,273
Disposals
(794)
(794)
At 30 September 2024
1,180
3,946
5,126
Depreciation and impairment
At 1 October 2023
282
692
974
Depreciation charged in the year
223
706
929
Eliminated in respect of disposals
(347)
(347)
At 30 September 2024
505
1,051
1,556
Carrying amount
At 30 September 2024
675
2,895
3,570
At 30 September 2023
898
1,775
2,673
CREATIVE SPARROW LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
37,533
27,717
Other debtors
835
1,002
38,368
28,719
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
24,954
25,800
Taxation and social security
16,112
17,574
Other creditors
32,058
19,565
73,124
62,939