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REGISTERED NUMBER: 12034140 (England and Wales)















Unaudited Financial Statements

for the Year Ended

30 June 2024

for

Five Create Limited

Five Create Limited (Registered number: 12034140)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Five Create Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: S Sykes
Mrs L Davis
M P Davis
J A Whitfield
R A Ward





REGISTERED OFFICE: Unit 5 Armley Nano Park
Pickering Street
Armley
Leeds
West Yorkshire
LS12 2BJ





REGISTERED NUMBER: 12034140 (England and Wales)





ACCOUNTANTS: Equate Limited
Chartered Certified Accountants
The Hive
142 Thornes Lane
Wakefield
West Yorkshire
WF2 7RE

Five Create Limited (Registered number: 12034140)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 21,585 6,208
Tangible assets 5 13,336 13,847
34,921 20,055

CURRENT ASSETS
Stocks 174,271 83,227
Debtors 6 90,811 146,366
Cash at bank 278,036 133,684
543,118 363,277
CREDITORS
Amounts falling due within one year 7 458,875 365,837
NET CURRENT ASSETS/(LIABILITIES) 84,243 (2,560 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

119,164

17,495

CREDITORS
Amounts falling due after more than one year 8 10,978 21,039
NET ASSETS/(LIABILITIES) 108,186 (3,544 )

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 108,066 (3,664 )
108,186 (3,544 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Five Create Limited (Registered number: 12034140)

Balance Sheet - continued
30 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 July 2024 and were signed on its behalf by:





J A Whitfield - Director


Five Create Limited (Registered number: 12034140)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Five Create Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Five Create Limited (Registered number: 12034140)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023 6,208
Additions 15,377
At 30 June 2024 21,585
NET BOOK VALUE
At 30 June 2024 21,585
At 30 June 2023 6,208

Five Create Limited (Registered number: 12034140)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 5,588 4,896 - 15,746 26,230
Additions - 140 2,492 4,372 7,004
Disposals - - - (259 ) (259 )
At 30 June 2024 5,588 5,036 2,492 19,859 32,975
DEPRECIATION
At 1 July 2023 1,397 2,085 - 8,901 12,383
Charge for year 1,048 775 623 5,029 7,475
Eliminated on disposal - - - (219 ) (219 )
At 30 June 2024 2,445 2,860 623 13,711 19,639
NET BOOK VALUE
At 30 June 2024 3,143 2,176 1,869 6,148 13,336
At 30 June 2023 4,191 2,811 - 6,845 13,847

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 22,565 64,547
Other debtors - 1,823
Tax - 26,127
Deferred tax asset 55,228 39,690
Prepayments and accrued income 13,018 14,179
90,811 146,366

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 9,939 16,018
Trade creditors 38,730 18,086
Tax 9,660 -
Social security and other taxes 6,202 3,721
VAT 4,118 7,105
Other creditors 116,823 136,585
Directors' current accounts 35,563 23,713
Accruals and deferred income 237,840 160,609
458,875 365,837

Five Create Limited (Registered number: 12034140)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans - 1-2 years 10,161 10,018
Bank loans - 2-5 years 817 11,021
10,978 21,039

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.24 30.6.23
£    £   
Within one year 24,292 24,122
Between one and five years 58,112 86,600
82,404 110,722