| Registered number |
| API Partnership Ltd t/a Chandler & Georges |
| Chartered Accountants and Registered Auditors |
| 75 Westow Hill |
| Crystal Palace |
| London |
| SE19 1TX |
| Ph: 0208 761 2213 |
| www.cgca.co.uk |
| Registered number: | |||||||
| Balance Sheet | |||||||
| as at |
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| Notes | 2024 | 2023 | |||||
| £ | £ | ||||||
| Current assets | |||||||
| Debtors | 3 | ||||||
| Cash at bank and in hand | - | ||||||
| Creditors: amounts falling due within one year | 4 | ( |
- | ||||
| Net current (liabilities)/assets | ( |
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| Net (liabilities)/assets | ( |
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| Capital and reserves | |||||||
| Called up share capital | |||||||
| Profit and loss account | ( |
- | |||||
| Shareholders' funds | ( |
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| Arun Nagar | |||||||
| Director | |||||||
| Approved by the board on |
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| Notes to the Accounts | ||||||||
| for the year ended |
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| 1 | Accounting policies | |||||||
| Basis of preparation | ||||||||
| Turnover | ||||||||
| Royalty income | ||||||||
| Royalty revenue is recognised based on contractual arrangements entered into with third parties which allow them to exploit the Company's intellectual property. Royalty income is recognised in the period when it is reported to the Company by third parties, provided: | ||||||||
| ● the amount of revenue can be measured reliably; | ||||||||
| ● it is probable that the Company will receive the consideration due under the transaction; | ||||||||
| ● the costs incurred or to be incurred in respect of the transaction can be measured reliably | ||||||||
| Royalties | ||||||||
| Royalties are charged to the Statement of Recognised Gains and Losses as incurred in accordance with contractual terms. Where advances against future royalties have been made, royalties are charged to the Statement of Recognised Gains and Losses at the rate stated in the contract, based upon sales. Provision is made where it is anticipated that the advance will not be recouped by future royalty charges. | ||||||||
| Financial Instruments | ||||||||
| The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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| Basic financial assets Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments. |
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| Financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. |
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| Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. |
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| Debtors | ||||||||
| Creditors | ||||||||
| Taxation | ||||||||
| Provisions | ||||||||
| Foreign currency translation | ||||||||
| 2 | Employees | 2024 | 2023 | |||||
| Number | Number | |||||||
| Average number of persons employed by the company | ||||||||
| 3 | Debtors | 2024 | 2023 | |||||
| £ | £ | |||||||
| Trade debtors | - | |||||||
| Other debtors | ||||||||
| 4 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
| £ | £ | |||||||
| Trade creditors | - | |||||||
| Other creditors | - | |||||||
| - | ||||||||
| 5 | Related party transactions | |||||||
The loan is interest free and repayable on demand. The total balance outstanding at the year end was £92,408 (2024: NIL). No security has been provided in respect of this loan. |
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| 6 | Other information | |||||||
| Kreative Kulture Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
| C/O Chandler & Georges | ||||||||
| 75 Westow Hill | ||||||||
| London | ||||||||
| United Kingdom | ||||||||
| SE19 1TX | ||||||||