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Registered number: 07326539










CREATURES INC. LIMITED
UNAUDITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




















 
CREATURES INC. LIMITED
 
 
Company Information


Directors
C O'Sullivan 
K A Strachan 




Registered number
07326539



Registered office
1 Park Road
Hanwell

London

W7 1LY





 
CREATURES INC. LIMITED
Registered number: 07326539

Balance Sheet
As at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,359
3,145

  
2,359
3,145

Current assets
  

Debtors: amounts falling due after more than one year
 5 
2,867
-

Debtors: amounts falling due within one year
 5 
-
72,834

Cash at bank and in hand
  
119,359
33,612

  
122,226
106,446

Creditors: amounts falling due within one year
 6 
(73,648)
(46,277)

Net current assets
  
 
 
48,578
 
 
60,169

Total assets less current liabilities
  
50,937
63,314

Creditors: amounts falling due after more than one year
  
-
(13,006)

  

Net assets
  
50,937
50,308


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
50,837
50,208

  
50,937
50,308


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.




 
Page 1

 
CREATURES INC. LIMITED
Registered number: 07326539
    
Balance Sheet (continued)
As at 31 March 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 February 2025.



C O'Sullivan
Director

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
CREATURES INC. LIMITED
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2024

1.


General information

Creatures Inc. Limited is a private limited company, incorporated in the United Kingdom and registered in England and Wales. The company's registered office is 1 Park Road, Hanwell, London, W7 1LY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Equipment
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Finance costs

Finance costs are charged to the Profit and loss account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

Page 3

 
CREATURES INC. LIMITED
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2024

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in the Profit and loss account in the year in which they are incurred.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

 
2.9

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured intially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 4

 
CREATURES INC. LIMITED
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2024

2.Accounting policies (continued)

 
2.11

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.12

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).

Page 5

 
CREATURES INC. LIMITED
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2024

4.


Tangible fixed assets





Office equipment

£



Cost 


At 1 April 2023
9,337



At 31 March 2024

9,337



Depreciation


At 1 April 2023
6,192


Charge for the year on owned assets
786



At 31 March 2024

6,978



Net book value



At 31 March 2024
2,359



At 31 March 2023
3,145


5.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
2,867
-

2,867
-


2024
2023
£
£

Due within one year

Trade debtors
-
54,116

Other debtors
-
4,618

Prepayments and accrued income
-
14,100

-
72,834


Page 6

 
CREATURES INC. LIMITED
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
4,004
4,932

Trade creditors
10,262
3,727

Corporation tax
13,598
7,792

Other taxation and social security
35,394
11,941

Other creditors
10,390
17,885

73,648
46,277



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
13,006

-
13,006


The bank loan of £4,004 (2023: £17,938) consists of an unsecured bounce back loan, repayable in instalments until January 2025.




8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



9.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments under non-cancellable operating leases of £94,704 (2023: £26,268).


 
Page 7