REGISTERED NUMBER: 08353503 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

UTILE CREATIVE LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr N P Duggins

Mr H Fieber

REGISTERED OFFICE:

Maria Tourousia Cottage

Florentia Clothing Village

Vale Road

London

N4 1TD

REGISTERED NUMBER:

08353503 (England and Wales)

ACCOUNTANTS:

EA

Chartered Accountants

869 High Road

London

N12 8QA

FIXED ASSETS

Tangible assets

4

19,031

15,427

CURRENT ASSETS

Debtors

5

41,621

62,104

Cash at bank

32,766

10,635

74,387

72,739

CREDITORS

Amounts falling due within one year

6

80,086

63,733

NET CURRENT (LIABILITIES)/ASSETS

(5,699

)

9,006

TOTAL ASSETS LESS CURRENT LIABILITIES

13,332

24,433

CREDITORS

Amounts falling due after more than one year

7

8,593

18,673

NET ASSETS

4,739

5,760

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

4,735

5,756

4,739

5,760

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

Mr N P Duggins - Director

1.	STATUTORY INFORMATION

Utile Creative Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

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

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 January 2024

51,444

-

51,444

Additions

1,000

8,949

9,949

At 31 December 2024

52,444

8,949

61,393

DEPRECIATION

At 1 January 2024

36,017

-

36,017

Charge for year

4,108

2,237

6,345

At 31 December 2024

40,125

2,237

42,362

NET BOOK VALUE

At 31 December 2024

12,319

6,712

19,031

At 31 December 2023

15,427

-

15,427

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

15,333

31,126

Other debtors

26,288

30,978

41,621

62,104

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,080

12,011

Hire purchase contracts (see note 8)

527

2,395

Trade creditors

250

5,060

Taxation and social security

44,469

38,076

Other creditors

24,760

6,191

80,086

63,733

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

8,593

18,673

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Gross obligations repayable:

Within one year

527

2,669

Finance charges repayable:

Within one year

-

274

Net obligations repayable:

Within one year

527

2,395

Non-cancellable

operating leases

2024

2023

£

£

Within one year

20,687

20,125

Between one and five years

15,938

36,625

36,625

56,750

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

Mr N P Duggins

Balance outstanding at start of year

15,282

18,895

Amounts advanced

10,369

1,144

Amounts repaid

(16,158

)

(4,757

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,493

15,282

Mr H Fieber

Balance outstanding at start of year

3,085

6,105

Amounts advanced

2,000

-

Amounts repaid

(7,178

)

(3,020

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(2,093

)

3,085

During the period under review, interest of £476 (2023 : £145) was charged on the overdrawn loan account balances.