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Registered number: 07599785
Elmtree Creative Partnership Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
A K E Tax & Accountancy Ltd
Chartered Certified Accountants
Hoddesdon Enterprise Centre
Pindar Road
Hoddesdon
Hertfordshire
EN11 0FJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07599785
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,445 2,000
Tangible Assets 5 4,224 5,075
7,669 7,075
CURRENT ASSETS
Debtors 6 56,473 66,943
Cash at bank and in hand 6,455 7,014
62,928 73,957
Creditors: Amounts Falling Due Within One Year 7 (48,533 ) (48,080 )
NET CURRENT ASSETS (LIABILITIES) 14,395 25,877
TOTAL ASSETS LESS CURRENT LIABILITIES 22,064 32,952
Creditors: Amounts Falling Due After More Than One Year 8 (26,571 ) (31,571 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (803 ) (1,015 )
NET (LIABILITIES)/ASSETS (5,310 ) 366
CAPITAL AND RESERVES
Called up share capital 300 300
Profit and Loss Account (5,610 ) 66
SHAREHOLDERS' FUNDS (5,310) 366
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Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
I D Simmons
Director
10 February 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Elmtree Creative Partnership Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07599785 . The registered office is Hoddesdon Enterprise Centre, Pindar Road, Hoddesdon, Hertfordshire, EN11 0FJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
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).
2.2. 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 rendering of services. Turnover from the rendering of services is recognised in the period the service is provided to the customer.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website costs It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
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 & Machinery 25% reducing balance
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2.7. 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.
2.8. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
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4. Intangible Assets
Other
£
Cost
As at 1 April 2023 4,000
Additions 2,050
As at 31 March 2024 6,050
Amortisation
As at 1 April 2023 2,000
Provided during the period 605
As at 31 March 2024 2,605
Net Book Value
As at 31 March 2024 3,445
As at 1 April 2023 2,000
Intangible is being written off in equal annual instalments over its estimated economic life of 10 years.
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 20,642
Additions 557
As at 31 March 2024 21,199
Depreciation
As at 1 April 2023 15,567
Provided during the period 1,408
As at 31 March 2024 16,975
Net Book Value
As at 31 March 2024 4,224
As at 1 April 2023 5,075
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 25,341 16,810
Other debtors 31,132 50,133
56,473 66,943
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 584 65
Bank loans and overdrafts 9,999 9,999
Other creditors 3,210 1,908
Taxation and social security 34,740 36,108
48,533 48,080
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 26,571 31,571
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Ian Simmons 32,424 10,941 (19,400 ) - 23,965
The above loan is unsecured, interest free and repayable on demand.  The loans were repaid within 9 months of the year end.
10. Related Party Transactions
I D Simmons
The above is a related party by virue of being a director.
During the period the related party incurred expenses and drew monies against his loan account.
At the balance sheet date the related party owed to the company £23,965 (2023: £32,424).
No interest has been charged on this loan during the period.
M Barrett
The above is a related party by virue of being a director.
During the period the related party incurred expenses and drew monies against his loan account.
At the balance sheet date the related party was owed £885 (2023: £10,729) from the company.
No interest has been charged on this loan during the period.
11. Ultimate Controlling Party
The company's ultimate controlling party is M Barrett by virtue of his majority shareholding.
12. Dividends
The directors acknowledge illegal dividends were declared and paid. At the time the dividends were declared and paid the directors believed there were sufficient reserves but could not reasonably foresee, at that time, that there would be insufficient profits available for distribution at the year end.
The directors acknowledge that no further distributions can be made until there are sufficient profits available for that purpose but are optimistic that the position will be positively reversed by 31 March 2025.
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