Acorah Software Products - Accounts Production 16.4.660 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 04050417 Mr Elfed Evans Mr Mark Thomas Mr Mark Thomas Creative Property (Cardiff) Limited true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04050417 2023-10-31 04050417 2024-10-31 04050417 2023-11-01 2024-10-31 04050417 frs-core:CurrentFinancialInstruments 2024-10-31 04050417 frs-core:ComputerEquipment 2023-11-01 2024-10-31 04050417 frs-core:FurnitureFittings 2024-10-31 04050417 frs-core:FurnitureFittings 2023-11-01 2024-10-31 04050417 frs-core:FurnitureFittings 2023-10-31 04050417 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-10-31 04050417 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-11-01 2024-10-31 04050417 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-10-31 04050417 frs-core:PlantMachinery 2024-10-31 04050417 frs-core:PlantMachinery 2023-11-01 2024-10-31 04050417 frs-core:PlantMachinery 2023-10-31 04050417 frs-core:ShareCapital 2024-10-31 04050417 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 04050417 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 04050417 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 04050417 frs-bus:SmallEntities 2023-11-01 2024-10-31 04050417 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 04050417 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 04050417 1 2023-11-01 2024-10-31 04050417 frs-bus:Director1 2023-11-01 2024-10-31 04050417 frs-bus:Director2 2023-11-01 2024-10-31 04050417 frs-bus:CompanySecretary1 2023-11-01 2024-10-31 04050417 frs-countries:EnglandWales 2023-11-01 2024-10-31 04050417 2022-10-31 04050417 2023-10-31 04050417 2022-11-01 2023-10-31 04050417 frs-core:CurrentFinancialInstruments 2023-10-31 04050417 frs-core:ShareCapital 2023-10-31 04050417 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 04050417
Celf Creative Design Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04050417
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 58,370 64,374
58,370 64,374
CURRENT ASSETS
Stocks 5 1,000 1,000
Debtors 6 547,716 177,468
Cash at bank and in hand 186,653 904,526
735,369 1,082,994
Creditors: Amounts Falling Due Within One Year 7 (570,089 ) (1,017,842 )
NET CURRENT ASSETS (LIABILITIES) 165,280 65,152
TOTAL ASSETS LESS CURRENT LIABILITIES 223,650 129,526
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (14,593 ) (16,094 )
NET ASSETS 209,057 113,432
CAPITAL AND RESERVES
Called up share capital 9 112 112
Profit and Loss Account 208,945 113,320
SHAREHOLDERS' FUNDS 209,057 113,432
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For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Mark Thomas
Director
28/07/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Celf Creative Design Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04050417 . The registered office is 58 Mount Stuart Square, Cardiff Bay, Cardiff, CF10 5LR.
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:
Leasehold 15 year straight line
Plant & Machinery 33% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 33% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. 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.
2.6. Financial Instruments
The company only has financial assets and financial liabilities of a kind that qualify as a basic financial instrument. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.10. Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
2.11. Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary
course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
2.12. Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost
using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 20 (2023: 21)
20 21
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4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 November 2023 50,752 220,271 56,880 327,903
Additions - 13,299 786 14,085
As at 31 October 2024 50,752 233,570 57,666 341,988
Depreciation
As at 1 November 2023 39,190 179,352 44,987 263,529
Provided during the period 948 16,654 2,487 20,089
As at 31 October 2024 40,138 196,006 47,474 283,618
Net Book Value
As at 31 October 2024 10,614 37,564 10,192 58,370
As at 1 November 2023 11,562 40,919 11,893 64,374
5. Stocks
2024 2023
£ £
Work in progress 1,000 1,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 547,716 176,893
Prepayments and accrued income - 575
547,716 177,468
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 22,917 32,050
Corporation tax 51,438 98,219
Other taxes and social security 9,938 10,280
VAT 31,034 15,422
Other creditors 22,826 17,940
Accruals and deferred income 11,126 -
Directors' loan accounts 12,795 4,916
Amounts owed to group undertakings 408,015 839,015
570,089 1,017,842
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8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 14,593 16,094
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 112 112
The shares stated above include;
100 Ordinary A shares of £1 each.
1 Ordinary B share of £1 each.
1 Ordinary C share of £1 each.
1 Ordinary D share of £1 each.
2 Ordinary E shares of £1 each.
1 Ordinary F share of £1 each.
1 Ordinary G share of £1 each.
1 Ordinary H share of £1 each.
1 Ordinary I share of £1 each.
1 Ordinary J share of £1 each.
1 Ordinary K share of £1 each.
1 Ordinary L share of £1 each.
10. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 344,000 344,000
Dividends of £3,440 (2023:£3,440) per each Ordinary A share.
11. Related Party Transactions
The directors remuneration for the year was £18,192 (2023:£18,192) and contributions paid to directors pension schemes £98,400 (2023:£45,600).
Celf Creative Design Ltd owed Creative Property (Cardiff) Limited £408,015 (2023: £839,015) at the balance sheet date. A dividend of £344,000 (2023 : £344,000) was voted by the company on the Ordinary A shares. A rent charge has been paid of £45,000 (2023: £45,000).
Included within creditors are loans to directors. Amount owed to M Thomas £10,083 (2023 : £4,097). Amount owed to E Evans of £2,712 (2023: £819). The loans are unsecured, interest free and repayable on demand.
Within debtors is £24,947 (2023: Nil) which is due from Tidal Exhibitions Limited. The value of gross sales to Tidal Exhibitions Limited in the year were £24,947 (2023:£103,283), the value of gross purchases were £154,482 (2023:£47,586).
12. Ultimate Controlling Party
The company's ultimate controlling party is Creative Property (Cardiff) Limited by virtue of his ownership of 100% of the issued ordinary a share capital in the company. The Directors of the company are also directors and shareholders of Creative Property (Cardiff) Limited.
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