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Registered number: 12366220
The 21st Century Creative Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Brackenfern Advisory Limited
First Floor
5 High Street
Westbury-on-Trym
Bristol
BS9 3BY
The 21st Century Creative Ltd
Contents
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
The 21st Century Creative Ltd
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 12366220
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 112 276
Tangible Assets 5 4,063 -
4,175 276
CURRENT ASSETS
Debtors 6 11,355 6,474
Cash at bank and in hand 19,505 8,995
30,860 15,469
Creditors: Amounts Falling Due Within One Year 7 (23,132 ) (14,817 )
NET CURRENT ASSETS (LIABILITIES) 7,728 652
TOTAL ASSETS LESS CURRENT LIABILITIES 11,903 928
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,016 ) -
NET ASSETS 10,887 928
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 10,787 828
SHAREHOLDERS' FUNDS 10,887 928
Page 1
Page 2
The 21st Century Creative Ltd
Balance Sheet (continued)
As At 31 December 2024
For the year ending 31 December 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
Mark McGuinness
Director
9 September 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
The 21st Century Creative Ltd
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
The 21st Century Creative Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12366220 . The registered office is First Floor, 5 High Street, Westbury-on-Trym, Bristol, BS9 2BY.
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.
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 - Other Intangible
Other intangible assets are intellectual properties. It is amortised to the profit and loss account over its estimated economic life of 5 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:
Computer Equipment Over 3 years
2.5. Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through the profit and loss. All other investments are subsequently measured ar cost less impairment. Debtors and creditors that fall due within one year are recorded in the financial statements at transaction price and then subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting date and any impairments are recorded within profit and loss and shown within administrative expenses when there is objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt. Debtors do not carry interest and are stated at their nominal value. Trade creditors are not interest-bearing and are stated at their nominal value. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss immediately. All equity instruments, regardless of significance , and other financial assets that are individually significant, are assesed individually for impairment. Other financial assets are either assessed individually or grouped on the similar basis of credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.
2.6. 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.
Page 3
Page 4
The 21st Century Creative Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.7. 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.
2.8. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 820
As at 31 December 2024 820
Amortisation
As at 1 January 2024 544
Provided during the period 164
As at 31 December 2024 708
Net Book Value
As at 31 December 2024 112
As at 1 January 2024 276
Page 4
Page 5
The 21st Century Creative Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2024 1,249
Additions 4,484
As at 31 December 2024 5,733
Depreciation
As at 1 January 2024 1,249
Provided during the period 421
As at 31 December 2024 1,670
Net Book Value
As at 31 December 2024 4,063
As at 1 January 2024 -
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 11,355 6,474
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 3,665 3,344
Taxation and social security 19,467 11,473
23,132 14,817
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5