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REGISTERED NUMBER: 09945068 (England and Wales)








Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Create and Paint Limited

Create and Paint Limited (Registered number: 09945068)






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


Create and Paint Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: D W Ellwood
Mrs J Ellwood





REGISTERED OFFICE: 14 Grange Road
Darlington
Co. Durham
DL1 5NG





REGISTERED NUMBER: 09945068 (England and Wales)





ACCOUNTANTS: Inspire Chartered Accountants
6 Queens Court
Third Avenue
Team Valley
Gateshead
Tyne and Wear
NE11 0BU

Create and Paint Limited (Registered number: 09945068)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 4,784 6,858

CURRENT ASSETS
Stocks 5,806 7,005
Cash at bank and in hand 905 1,528
6,711 8,533
CREDITORS
Amounts falling due within one year 6 39,348 46,305
NET CURRENT LIABILITIES (32,637 ) (37,772 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(27,853

)

(30,914

)

CAPITAL AND RESERVES
Called up share capital 7 50,000 50,000
Retained earnings (77,853 ) (80,914 )
SHAREHOLDERS' FUNDS (27,853 ) (30,914 )

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.

Create and Paint Limited (Registered number: 09945068)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by:





D W Ellwood - Director


Create and Paint Limited (Registered number: 09945068)

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

1. STATUTORY INFORMATION

Create and Paint 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. This assumes that the company will continue to trade for the foreseeable future. In order to do so it relies on continued support from its director, bank and creditors.

Should the company no longer receive such support, the fixed assets will need to be reclassified as current assets and long term liabilities as current liabilities.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 20% on cost
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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Create and Paint Limited (Registered number: 09945068)

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

3. 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 10,992 11,651 4,024 1,175 27,842
Additions - - 199 - 199
At 30 June 2024 10,992 11,651 4,223 1,175 28,041
DEPRECIATION
At 1 July 2023 7,693 10,099 2,604 588 20,984
Charge for year 1,099 478 402 294 2,273
At 30 June 2024 8,792 10,577 3,006 882 23,257
NET BOOK VALUE
At 30 June 2024 2,200 1,074 1,217 293 4,784
At 30 June 2023 3,299 1,552 1,420 587 6,858

Create and Paint Limited (Registered number: 09945068)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Taxation and social security 2 -
Other creditors 39,346 46,305
39,348 46,305

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
50,000 Ordinary £1 50,000 50,000