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REGISTERED NUMBER: SC203930 (Scotland)
















Unaudited Financial Statements for the Year Ended 28 February 2025

for

Elastic Creative Ltd

Elastic Creative Ltd (Registered number: SC203930)






Contents of the Financial Statements
for the Year Ended 28 February 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Elastic Creative Ltd

Company Information
for the Year Ended 28 February 2025







DIRECTORS: G Connell
A C Kirby
Mrs L Kirby





REGISTERED OFFICE: McLay, McAlister & McGibbon
145 St. Vincent Street
Glasgow
G25JF





REGISTERED NUMBER: SC203930 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Elastic Creative Ltd (Registered number: SC203930)

Balance Sheet
28 February 2025

28.2.25 29.2.24
Notes £    £   
CURRENT ASSETS
Debtors 5 32,505 53,770
Cash at bank 69,468 64,525
101,973 118,295
CREDITORS
Amounts falling due within one year 6 (81,826 ) (86,585 )
NET CURRENT ASSETS 20,147 31,710
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,147

31,710

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 20,027 31,590
SHAREHOLDERS' FUNDS 20,147 31,710

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2025 and were signed on its behalf by:





A C Kirby - Director


Elastic Creative Ltd (Registered number: SC203930)

Notes to the Financial Statements
for the Year Ended 28 February 2025

1. STATUTORY INFORMATION

Elastic Creative Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

After making enquiries, the directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the accounts continue to be prepared on the going concern basis.

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

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.

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.

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.

Tangible fixed assets
Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.

Furniture & Office Equipment - 25% on cost

Government grants
Grants are credited to the profit and loss account of the period in which the conditions relating to the offer of grant are fulfilled.

Elastic Creative Ltd (Registered number: SC203930)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2024
and 28 February 2025 57,423
DEPRECIATION
At 1 March 2024
and 28 February 2025 57,423
NET BOOK VALUE
At 28 February 2025 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 29.2.24
£    £   
Trade debtors 32,505 53,770

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 29.2.24
£    £   
Trade creditors - 2,484
Taxation and social security 21,153 33,440
Other creditors 60,673 50,661
81,826 86,585

7. RELATED PARTY DISCLOSURES

During the year, total dividends of £1,500 (2024: £3,000) were paid to the directors.

Included in creditors is a loan due to the Directors of £47,425 (2024: 38,425) This loan is interest free and repayable on demand.