Registered number
07925505
DAVID CREATES LIMITED
Unaudited Filleted Accounts
30 December 2024
DAVID CREATES LIMITED
Registered number: 07925505
Balance Sheet
as at 30 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 28,616 38,155
Current assets
Debtors 4 22,265 10,100
Cash at bank and in hand 1,299 1,651
23,564 11,751
Creditors: amounts falling due within one year 5 (43,028) (41,728)
Net current liabilities (19,464) (29,977)
Total assets less current liabilities 9,152 8,178
Creditors: amounts falling due after more than one year 6 (9,118) (10,791)
Net assets/(liabilities) 34 (2,613)
Capital and reserves
Called up share capital 2 2
Profit and loss account 32 (2,615)
Shareholders' funds 34 (2,613)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Knipe
Director
Approved by the board on 14 October 2025
DAVID CREATES LIMITED
Notes to the Accounts
for the period from 1 January 2024 to 30 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Motor vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2024 14,309 59,490 73,799
At 30 December 2024 14,309 59,490 73,799
Depreciation
At 1 January 2024 9,617 26,027 35,644
Charge for the period 1,173 8,366 9,539
At 30 December 2024 10,790 34,393 45,183
Net book value
At 30 December 2024 3,519 25,097 28,616
At 31 December 2023 4,692 33,463 38,155
4 Debtors 2024 2023
£ £
Trade debtors 2,449 2,449
Other debtors 19,816 7,651
22,265 10,100
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 35,013 -
Taxation and social security costs 7,630 1,105
Other creditors 385 40,623
43,028 41,728
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,118 10,791
7 Related party transactions
At the year end the company was owed £7,651 by related parties (2023: £7,651).
8 Controlling party
Mr and Mrs Knipe are considered to be the ultimate controlling party by virtue of their ability to act in concert in respect of the operational and financial policies of the company
9 Other information
DAVID CREATES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
1st Floor
Quadrant House
9 Heath Road
Weybridge
KT13 8SX
DAVID CREATES LIMITED 07925505 false 2024-01-01 2024-12-30 2024-12-30 VT Final Accounts April 2025 D Knipe No description of principal activity 07925505 2023-01-01 2023-12-31 07925505 core:WithinOneYear 2023-12-31 07925505 core:AfterOneYear 2023-12-31 07925505 core:ShareCapital 2023-12-31 07925505 core:RetainedEarningsAccumulatedLosses 2023-12-31 07925505 2024-01-01 2024-12-30 07925505 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-30 07925505 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-30 07925505 bus:Director40 2024-01-01 2024-12-30 07925505 1 2024-01-01 2024-12-30 07925505 2 2024-01-01 2024-12-30 07925505 core:PlantMachinery 2024-01-01 2024-12-30 07925505 core:Vehicles 2024-01-01 2024-12-30 07925505 countries:England 2024-01-01 2024-12-30 07925505 bus:FRS102 2024-01-01 2024-12-30 07925505 bus:FilletedAccounts 2024-01-01 2024-12-30 07925505 2024-12-30 07925505 core:WithinOneYear 2024-12-30 07925505 core:AfterOneYear 2024-12-30 07925505 core:ShareCapital 2024-12-30 07925505 core:RetainedEarningsAccumulatedLosses 2024-12-30 07925505 core:PlantMachinery 2024-12-30 07925505 core:Vehicles 2024-12-30 07925505 2023-12-31 07925505 core:PlantMachinery 2023-12-31 07925505 core:Vehicles 2023-12-31 iso4217:GBP xbrli:pure