Company registration number 06790063
Create Advertising Limited
Financial Statements
for the year ended 31 December 2024
Cavendish Bond
Chartered Accountants & Statutory Auditor
Bentinck House
3 - 8 Bolsover Street
London
W1W 6AB
Create Advertising Limited
Financial statements for the year ended 31 December 2024
Balance Sheet
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 209,694 297,685
Current assets
Debtors 5 1,014,607 1,122,449
Cash at bank and in hand 223,416 744,456
1,238,023 1,866,905
Creditors: amounts falling due within one year 6 (1,084,954) (1,698,585)
Net current assets 153,069 168,320
Total assets less current liabilities 362,763 466,005
Creditors: amounts falling due after more than one year 7 (72,371) (148,071)
Provisions for liabilities (21,795) (47,755)
Net assets 268,597 270,179
Capital and reserves
Called up share capital 100 100
Profit and loss account 268,497 270,079
Shareholder's funds 268,597 270,179
The financial statements have been prepared in accordance with the special provisions for small companies within Part 15 of the Companies Act 2006. The company's profit and loss account for the year has not been delivered to the Registrar of Companies.
These financial statements were approved by the board on 1 April 2025 and are signed on its behalf by
D H Stern
Director
Company registration number 06790063
Create Advertising Limited
Financial statements for the year ended 31 December 2024
Notes to the Financial Statements
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, as applicable to companies subject to the small entities regime.
Going concern
The company has prepared forecasts that indicate that it should have sufficient resources to continue in operational existence for the foreseeable future and at least one year from the date of approval of these financial statements.

The company has also received confirmation from its parent company, Create Advertising Group LLC, that it will not require repayment of any part of its loan to the company to the detriment of the company's ability to continue as a going concern.

In light of this the director is satisfied that the company should have sufficient resources to continue in operational existence for the foreseeable future, and at least one year from the date of approval of these financial statements, and these financial statements have therefore been prepared on a going concern basis.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable 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 and volume rebates.

Turnover from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is determined by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, to anticipated total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent that the expenses recognised are recoverable.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold property over the term of the lease
Plant and machinery 25% straight line to 60% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Debtors
Short term debtors are measured at transaction price less any provision for bad and doubtful debts. Loans and other financial assets are initially recognised at fair value, taking account of any transaction costs, and are subsequently measured at amortised cost using the effective interest method, less any impairment losses.
Creditors
Short term creditors are measured at the transaction price. Loans and other financial liabilities are initially recognised at fair value, taking account of any transaction costs, and are subsequently measured at amortised cost using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation, and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange prevailing at the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are retranslated at the balance sheet date using the rates of exchange prevailing at the balance sheet date. Gains and losses arising from retranslation are recognised in the profit and loss account.

Non-monetary items denominated in foreign currencies that are measured at historical cost are translated at the rate ruling at the date of the transaction and are not subsequently retranslated.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases.

The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments.

Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life.

Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument those financial instruments are classified as financial liabilities and are presented as such in the balance sheet.

Where the contractual terms of financial instruments do not meet the definition of a financial liability those financial instruments are classified as equity instruments. Dividends and other distributions relating to equity instruments are debited direct to equity.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Audit information
These accounts have been audited and an unqualified audit report issued as follows:
Auditor: Cavendish Bond Limited
Senior Statutory Auditor: Richard Tompkins
Audit report date: 1 April 2025
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 41 40
4 Tangible fixed assets
Leasehold property Plant and machinery Total
£ £ £
Cost
At 1 January 2024 413,359 479,665 893,024
Additions - 24,448 24,448
At 31 December 2024 413,359 504,113 917,472
Depreciation
At 1 January 2024 239,148 356,191 595,339
Charge for the year 41,336 71,103 112,439
At 31 December 2024 280,484 427,294 707,778
Net book value
At 31 December 2024 132,875 76,819 209,694
At 31 December 2023 174,211 123,474 297,685
Fixed assets include assets held under finance lease and hire purchase contracts. The finance lease and hire purchase liabilities are secured against the relevant fixed assets.
5 Debtors 2024 2023
£ £
Trade debtors 510,675 686,571
Accrued income 323,425 245,782
Other debtors 180,507 190,096
1,014,607 1,122,449
Other debtors include a deposit of £90,000 (2023: £90,000) held by the company's landlord as security for performance of the company's obligations under its lease.
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 50,000 50,000
Obligations under finance lease and hire purchase contracts 25,700 23,896
Trade creditors 114,913 60,234
Amounts owed to group undertakings 363,216 629,349
Taxes and social security costs 184,707 288,196
Other creditors 346,418 646,910
1,084,954 1,698,585
Bank loans falling due within one year include £50,000 (2023: £50,000) secured by way of fixed and floating charges over the company's assets. Obligations under finance lease and hire purchase contracts are secured against the assets to which they relate.
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 37,500 87,500
Obligations under finance lease and hire purchase contracts 34,871 60,571
72,371 148,071
Bank loans falling due after one year include £37,500 (2023: £87,500) secured by way of fixed and floating charges over the company's assets. Obligations under finance lease and hire purchase contracts are secured against the assets to which they relate.
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 431,250 585,194
9 Related party transactions
The company has taken advantage of the exemption within Financial Reporting Standard 102 from disclosing transactions with its parent company.
10 Parent company
The company's immediate and ultimate parent company is Create Advertising Group LLC whose registered office is 4201 Wilshire Boulevard, 6th Floor, Los Angeles, CA 90010, USA. Create Advertising Group LLC prepares consolidated financial statements that include the company.
11 Other information
Create Advertising Limited is a private company limited by shares and incorporated in England with its registered office at:
38A Warren Street
London
W1T 6AE
Create Advertising Limited 06790063 false 2024-01-01 2024-12-31 2024-12-31 VT Final Accounts April 2025 D H Stern No description of principal activity 06790063 2023-01-01 2023-12-31 06790063 core:WithinOneYear 2023-12-31 06790063 core:AfterOneYear 2023-12-31 06790063 core:ShareCapital 2023-12-31 06790063 core:RetainedEarningsAccumulatedLosses 2023-12-31 06790063 core:AllPeriods 2023-12-31 06790063 2024-01-01 2024-12-31 06790063 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 06790063 bus:Audited 2024-01-01 2024-12-31 06790063 bus:Director40 2024-01-01 2024-12-31 06790063 1 2024-01-01 2024-12-31 06790063 2 2024-01-01 2024-12-31 06790063 core:LandBuildings 2024-01-01 2024-12-31 06790063 core:PlantMachinery 2024-01-01 2024-12-31 06790063 countries:England 2024-01-01 2024-12-31 06790063 bus:FRS102 2024-01-01 2024-12-31 06790063 bus:FilletedAccounts 2024-01-01 2024-12-31 06790063 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 06790063 2024-12-31 06790063 core:WithinOneYear 2024-12-31 06790063 core:AfterOneYear 2024-12-31 06790063 core:ShareCapital 2024-12-31 06790063 core:RetainedEarningsAccumulatedLosses 2024-12-31 06790063 core:LandBuildings 2024-12-31 06790063 core:PlantMachinery 2024-12-31 06790063 core:AllPeriods 2024-12-31 06790063 2023-12-31 06790063 core:LandBuildings 2023-12-31 06790063 core:PlantMachinery 2023-12-31 iso4217:GBP xbrli:pure