Company No: 07942116 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	2		2
Tangible assets	4	117,084		95,184
		117,086		95,186
Current assets
Debtors	5	2,339,694		1,600,909
Cash at bank and in hand		901,887		952,380
		3,241,581		2,553,289
Creditors: amounts falling due within one year	6	( 1,024,808)		( 840,267)
Net current assets		2,216,773		1,713,022
Total assets less current liabilities		2,333,859		1,808,208
Creditors: amounts falling due after more than one year	7	0		( 64,000)
Provision for liabilities		( 19,204)		( 20,220)
Net assets		2,314,655		1,723,988
Capital and reserves
Called-up share capital	8	1,365		1,320
Share premium account		4,441		3,894
Profit and loss account		2,308,849		1,718,774
Total shareholders' funds		2,314,655		1,723,988

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Interstate Creative Partners Limited (registered number: 07942116) were approved and authorised for issue by the Board of Directors on 10 December 2025. They were signed on its behalf by:

N Downes Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Interstate Creative Partners Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Phoenix Brewery, 13 Bramley Road, London, W10 6SZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill	not amortised
Trademarks, patents and licences	not amortised

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is [number] years.

Trademarks, patents and licences

Separately acquired patents and trademarks are included at cost and amortised in equal annual instalments over a period of [amount of years] years which is their estimated useful economic life. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	5 years straight line
Leasehold improvements	depreciated over the life of the lease
	5 years straight line
Vehicles	4 years straight line
Fixtures and fittings	3 years straight line
Office equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	33		29

3. Intangible assets

	Goodwill		Trademarks, patents and licences		Total
	£		£		£
Cost
At 01 April 2024	1		1		2
At 31 March 2025	1		1		2
Accumulated amortisation
At 01 April 2024	0		0		0
At 31 March 2025	0		0		0
Net book value
At 31 March 2025	1		1		2
At 31 March 2024	1		1		2

4. Tangible assets

	Land and buildings		Leasehold improve- ments		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£		£
Cost
At 01 April 2024	61,890		0		0		105,504		227,451		394,845
Additions	26,500		11,449		2,508		1,165		53,995		95,617
At 31 March 2025	88,390		11,449		2,508		106,669		281,446		490,462
Accumulated depreciation
At 01 April 2024	61,439		0		0		72,569		165,653		299,661
Charge for the financial year	147		93		157		21,927		51,393		73,717
At 31 March 2025	61,586		93		157		94,496		217,046		373,378
Net book value
At 31 March 2025	26,804		11,356		2,351		12,173		64,400		117,084
At 31 March 2024	451		0		0		32,935		61,798		95,184

Included within the net book value of land and buildings above is £26,801 (2024 - £451) in respect of short leasehold land and buildings

5. Debtors

	2025		2024
	£		£
Trade debtors	1,727,240		1,257,526
Amounts owed by Group undertakings	0		30,861
Amounts owed by directors	55		68,939
Prepayments and accrued income	573,032		222,966
Other debtors	39,367		20,617
	2,339,694		1,600,909

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	0		48,000
Trade creditors	197,791		119,104
Amounts owed to Group undertakings	64		0
Amounts owed to related parties	0		25,218
Accruals and deferred income	393,750		248,373
Taxation and social security	397,173		374,107
Other creditors	36,030		25,465
	1,024,808		840,267

The directors consider that the carrying amount of trade payables approximates to their fair value.

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	0		64,000

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
123,000 A Ordinary shares of £ 0.01 each	1,230		1,230
13,494 B Ordinary shares of £ 0.01 each (2024: 8,978 shares of £ 0.01 each)	135		90
	1,365		1,320

During the year, On 15 July 2024, 4516 B Ordinary shares of £0.01 each were issued and fully paid.

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
within one year	177,436		0
between one and five years	709,746		0
after five years	857,623		0
Total future minimum lease payments under non-cancellable operating leases	1,744,805		0

10. Related party transactions

At the year-end, the company was owed £Nil (2024 - £523) by N Gray, £Nil (2024 - £5,523) by G Ruggieri, Nil (2023 - £30,523) by J Downes, £54 (2023 - £32,370) by N Downes, the directors of the company, in respect of interest free loans which are repayable on demand.

Key management personnel
Key management are considered to be the directors of the company.

Summary of transactions with key management
During the year the company made loan's available to multiple directors, the loan's are interest free and repayable on demand.