Registered number
12396698
Create Team Ltd
Filleted Accounts
31 January 2025
Create Team Ltd
Registered number: 12396698
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 4,410 3,276
Current assets
Debtors 4 10,069 8,486
Cash at bank and in hand 2,364 7,341
12,433 15,827
Creditors: amounts falling due within one year 5 (16,743) (19,003)
Net current liabilities (4,310) (3,176)
Net assets 100 100
Capital and reserves
Called up share capital 100 100
Shareholder's funds 100 100
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Samuel Lawson
Director
Approved by the board on 12 March 2025
Create Team Ltd
Notes to the Accounts
for the year ended 31 January 2025
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 20% reducing balance
Motor vehicles 20% reducing balance
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
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 Employees 2025 2024
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2024 5,447 1,400 6,847
Additions 2,237 - 2,237
At 31 January 2025 7,684 1,400 9,084
Depreciation
At 1 February 2024 2,745 826 3,571
Charge for the year 988 115 1,103
At 31 January 2025 3,733 941 4,674
Net book value
At 31 January 2025 3,951 459 4,410
At 31 January 2024 2,702 574 3,276
4 Debtors 2025 2024
£ £
Trade debtors 300 2,817
Other debtors 9,769 5,669
10,069 8,486
5 Creditors: amounts falling due within one year 2025 2024
£ £
Taxation and social security costs 4,378 3,694
Other creditors 12,365 15,309
16,743 19,003
6 Controlling party
The ultimate controlling party is Samuel Lawson, who owns 100% of the company's shareholding.
7 Other information
Create Team Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Suite 5, 5th Floor, City Reach
5 Greenwich View Place
London
E14 9NN
Create Team Ltd 12396698 false 2024-02-01 2025-01-31 2025-01-31 VT Final Accounts July 2024 Samuel Lawson No description of principal activity 12396698 2023-02-01 2024-01-31 12396698 core:WithinOneYear 2024-01-31 12396698 core:ShareCapital 2024-01-31 12396698 2024-02-01 2025-01-31 12396698 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 12396698 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 12396698 bus:Director40 2024-02-01 2025-01-31 12396698 1 2024-02-01 2025-01-31 12396698 2 2024-02-01 2025-01-31 12396698 core:PlantMachinery 2024-02-01 2025-01-31 12396698 core:Vehicles 2024-02-01 2025-01-31 12396698 countries:England 2024-02-01 2025-01-31 12396698 bus:FRS102 2024-02-01 2025-01-31 12396698 bus:FilletedAccounts 2024-02-01 2025-01-31 12396698 2025-01-31 12396698 core:WithinOneYear 2025-01-31 12396698 core:ShareCapital 2025-01-31 12396698 core:PlantMachinery 2025-01-31 12396698 core:Vehicles 2025-01-31 12396698 2024-01-31 12396698 core:PlantMachinery 2024-01-31 12396698 core:Vehicles 2024-01-31 iso4217:GBP xbrli:pure