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Registered number: 01226839
Creatside Limited
Unaudited Financial Statements
For the Period 1 December 2023 to 31 March 2025
Richard Riley & Associates Ltd
Howbery Park
Benson Lane
Wallingford
Oxfordshire
OX10 8BA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01226839
31 March 2025 30 November 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 289,801 -
Tangible Assets 5 135,524 120,267
425,325 120,267
CURRENT ASSETS
Stocks 6 39,287 9,000
Debtors 7 681,567 473,708
Cash at bank and in hand 282,269 256,565
1,003,123 739,273
Creditors: Amounts Falling Due Within One Year 8 (811,470 ) (471,538 )
NET CURRENT ASSETS (LIABILITIES) 191,653 267,735
TOTAL ASSETS LESS CURRENT LIABILITIES 616,978 388,002
Creditors: Amounts Falling Due After More Than One Year 9 (142,479 ) (72,282 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (28,968 ) (24,114 )
NET ASSETS 445,531 291,606
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 445,431 291,506
SHAREHOLDERS' FUNDS 445,531 291,606
Page 1
Page 2
For the period ending 31 March 2025 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
Ms Sheri Irons
Director
29th August 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Creatside Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01226839 . The registered office is Unit J2 Springhead Enterprise Park, Northfleet, Gravesend, Kent, DA11 8HL.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. 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%
Motor Vehicles 20%
Fixtures & Fittings 20%
Reducing balance method
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. 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.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
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 period, 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.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 32 (2023: 20)
32 20
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2023 -
Additions 395,183
As at 31 March 2025 395,183
Amortisation
As at 1 December 2023 -
Provided during the period 105,382
As at 31 March 2025 105,382
Net Book Value
As at 31 March 2025 289,801
As at 1 December 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 December 2023 35,300 217,729 28,265 281,294
Additions 11,598 102,164 7,422 121,184
Disposals (29,653 ) (138,977 ) (17,267 ) (185,897 )
As at 31 March 2025 17,245 180,916 18,420 216,581
Depreciation
As at 1 December 2023 33,683 109,482 17,862 161,027
Provided during the period 1,190 29,101 3,294 33,585
Disposals (28,437 ) (68,707 ) (16,411 ) (113,555 )
As at 31 March 2025 6,436 69,876 4,745 81,057
Net Book Value
As at 31 March 2025 10,809 111,040 13,675 135,524
As at 1 December 2023 1,617 108,247 10,403 120,267
Page 4
Page 5
6. Stocks
31 March 2025 30 November 2023
£ £
Stock 39,287 9,000
7. Debtors
31 March 2025 30 November 2023
£ £
Due within one year
Trade debtors 511,821 442,103
Other debtors 169,746 31,605
681,567 473,708
8. Creditors: Amounts Falling Due Within One Year
31 March 2025 30 November 2023
£ £
Trade creditors 286,242 223,709
Bank loans and overdrafts 23,749 10,000
HP Lease 3,951 13,075
Amounts owed to participating interests 71,905 -
Other creditors 268,172 101,563
Taxation and social security 157,451 123,191
811,470 471,538
9. Creditors: Amounts Falling Due After More Than One Year
31 March 2025 30 November 2023
£ £
Bounce Back Loan more than 1yr 7,500 20,833
HP Lease 2-5yrs 14,979 51,449
Amounts owed to participating interests 120,000 -
142,479 72,282
10. Share Capital
31 March 2025 30 November 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5