Company registration number 14146724 (England and Wales)
CRAIG EVANS CONTENT AGENCY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
CRAIG EVANS CONTENT AGENCY LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
CRAIG EVANS CONTENT AGENCY LTD
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
FIXED ASSETS
Tangible assets
3
10,182
8,161
CURRENT ASSETS
Debtors
4
1,608
Cash at bank and in hand
3,417
4,797
5,025
4,797
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5
(19,755)
(6,681)
NET CURRENT LIABILITIES
(14,730)
(1,884)
TOTAL ASSETS LESS CURRENT LIABILITIES
(4,548)
6,277
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
7
-
(1,483)
PROVISIONS FOR LIABILITIES
-
(1,250)
NET (LIABILITIES)/ASSETS
(4,548)
3,544
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss reserves
(4,549)
3,543
TOTAL EQUITY
(4,548)
3,544
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 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has 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.
CRAIG EVANS CONTENT AGENCY LTD
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
2024
2023
Notes
£
£
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 17 March 2025
Craig Evans
Director
Company registration number 14146724 (England and Wales)
CRAIG EVANS CONTENT AGENCY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
ACCOUNTING POLICIES
Company information
Craig Evans Content Agency Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Cedar House, Hazell Drive, NEWPORT, NP10 8FY.
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 £.
1.2
Going concern
The financial statements have been prepared on a going concern basis, which assumes that the entity will continue in operational existence for the foreseeable future.
The entity has net liabilities of as at the year-end and incurred a loss during the year. These conditions indicate the existence of a material uncertainty which may cast significant doubt on the entity's ability to continue as a going concern.
The director has prepared cash flow forecasts and budgets for a period of at least 12 months from the date of approval of these financial statements.
Based on the forecasts and the measures taken to ensure the availability of financial resources, the director is satisfied that the entity has adequate resources to continue its operations for the foreseeable future. The director therefore believes it is appropriate to prepare the financial statements on a going concern basis.
However, the director acknowledges that a material uncertainty exists which may cast significant doubt on the entity's ability to continue as a going concern. The financial statements do not include any adjustments that would result from the entity failing to continue as a going concern.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received for 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.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
CRAIG EVANS CONTENT AGENCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
ACCOUNTING POLICIES
(Continued)
- 4 -
1.4
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
20% straight line
Computers
25% straight line
1.5
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.
1.6
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.
CRAIG EVANS CONTENT AGENCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
ACCOUNTING POLICIES
(Continued)
- 5 -
1.7
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
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
CRAIG EVANS CONTENT AGENCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
3
TANGIBLE FIXED ASSETS
Plant and machinery etc
£
Cost
At 1 July 2023
8,577
Additions
4,519
At 30 June 2024
13,096
Depreciation and impairment
At 1 July 2023
416
Depreciation charged in the year
2,498
At 30 June 2024
2,914
Carrying amount
At 30 June 2024
10,182
At 30 June 2023
8,161
4
DEBTORS
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
950
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
658
Total debtors
1,608
CRAIG EVANS CONTENT AGENCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
5
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Obligations under finance leases
1,483
1,780
Taxation and social security
479
Other creditors
15,049
3,851
Accruals and deferred income
2,744
1,050
19,755
6,681
6
DIRECTOR'S ADVANCES, CREDITS, AND GUARANTEES
Included within creditors is a balance of £15,049 (2023 - £3,851) owed to the director. This balance is interest free and repayable on demand.
7
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
2023
Notes
£
£
Obligations under finance leases
1,483