Registration number: 5212381

Creative Talent Management Ltd

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 7

Creative Talent Management Ltd

(Registration number: 5212381)
Balance Sheet as at 29 September 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	115,387	128,595
Current assets
Debtors	5	32,662	30,650
Cash at bank and in hand		19,674	12,916
		52,336	43,566
Creditors: Amounts falling due within one year	6	(42,690)	(48,310)
Net current assets/(liabilities)		9,646	(4,744)
Total assets less current liabilities		125,033	123,851
Creditors: Amounts falling due after more than one year	6	(14,903)	(26,212)
Provisions for liabilities		(3,900)	(6,054)
Net assets		106,230	91,585
Capital and reserves
Called up share capital		100	100
Retained earnings		106,130	91,485
Shareholders' funds		106,230	91,585

Creative Talent Management Ltd

(Registration number: 5212381)
Balance Sheet as at 29 September 2024

For the financial year ending 29 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 June 2025
 

......................................... K R Furber Director

Creative Talent Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 September 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Horsehill Bungalow
Accrington Road
Hapton
Burnley
Lancashire
BB11 5QJ

These financial statements were authorised for issue by the director on 26 June 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared in sterling (£) using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Creative Talent Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 September 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and building	5% straight line
Office equipment	33% reducing balance
Furniture fittings and equipment	25% reducing balance

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.

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.

Creative Talent Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 September 2024

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

Creative Talent Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 September 2024

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 30 September 2023	161,061	155,099	26,083	342,243
Additions	-	1,939	-	1,939
At 29 September 2024	161,061	157,038	26,083	344,182
Depreciation
At 30 September 2023	60,018	140,393	13,237	213,648
Charge for the year	8,053	3,900	3,194	15,147
At 29 September 2024	68,071	144,293	16,431	228,795
Carrying amount
At 29 September 2024	92,990	12,745	9,652	115,387
At 29 September 2023	101,043	14,706	12,846	128,595

5

Debtors

Current	2024 £	2023 £
Trade debtors	32,529	30,650
Prepayments	133	-
	32,662	30,650

Creative Talent Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 September 2024

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	7	13,887	13,833
Trade creditors		1,027	4,729
Taxation and social security		19,850	20,454
Accruals and deferred income		1,200	1,050
Other creditors		6,726	8,244
		42,690	48,310

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £6,420 (2023 - £6,633).

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	7	14,903	26,212

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £9,874 (2023 - £20,845).

7	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	14,903	26,212

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	13,887	13,833