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Registered number: 11066183
Creative Ironworks Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Highspec Consultancy Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11066183
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 10,807 14,234
10,807 14,234
CURRENT ASSETS
Stocks 5 500 1,000
Debtors 6 13,275 25,282
Cash at bank and in hand - 1,628
13,775 27,910
Creditors: Amounts Falling Due Within One Year 7 (41,804 ) (76,156 )
NET CURRENT ASSETS (LIABILITIES) (28,029 ) (48,246 )
TOTAL ASSETS LESS CURRENT LIABILITIES (17,222 ) (34,012 )
Creditors: Amounts Falling Due After More Than One Year 8 (21,050 ) (21,384 )
NET LIABILITIES (38,272 ) (55,396 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (38,372 ) (55,496 )
SHAREHOLDERS' FUNDS (38,272) (55,396)
Page 1
Page 2
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Paul Baas
Director
11/04/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Creative Ironworks Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11066183 . The registered office is 20 Holdenhurst, Washford Farm, Ashford, Kent, TN23 5UT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 20% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2023 2,500 35,885 429 38,814
As at 30 November 2024 2,500 35,885 429 38,814
Depreciation
As at 1 December 2023 250 24,280 50 24,580
Provided during the period 450 2,901 76 3,427
As at 30 November 2024 700 27,181 126 28,007
...CONTINUED
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Net Book Value
As at 30 November 2024 1,800 8,704 303 10,807
As at 1 December 2023 2,250 11,605 379 14,234
5. Stocks
2024 2023
£ £
Stock 500 1,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 11,815 20,758
Other debtors - 4,524
Director's loan account 1,460 -
13,275 25,282
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,500 25,000
Bank loans and overdrafts 18,914 7,450
VAT 15,176 3,466
Accruals and deferred income 1,214 500
Director's loan account - 39,740
41,804 76,156
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 21,050 21,384
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2023 Amounts advanced Amounts repaid Amounts written off As at 30 November 2024
£ £ £ £ £
Mr Paul Baas - 1,460 - - 1,460
The above loan is unsecured, interest free and repayable on demand.
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