Creative Kernow Enterprises Limited
(formerly Cornwall Arts Marketing Limited)

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 6

Creative Kernow Enterprises Limited
(formerly Cornwall Arts Marketing Limited)

(Registration number: 04346555)
Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Current assets
Debtors	6	64,780	19,931
Cash at bank and in hand		28,548	35,175
		93,328	55,106
Creditors: Amounts falling due within one year	7	(61,463)	(101,416)
Net assets/(liabilities)		31,865	(46,310)
Capital and reserves
Called up share capital		100	100
Profit and loss account		31,765	(46,410)
Shareholders' funds/(deficit)		31,865	(46,310)

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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 17 December 2025 and signed on its behalf by:
 

Paul Brookes Director

Creative Kernow Enterprises Limited
(formerly Cornwall Arts Marketing Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

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

The company was formerly known as Cornwall Arts Marketing Limited.

The address of its registered office is:
Krowji
West Park
Redruth
Cornwall
TR15 3AJ

Principal activity

The principal activity of the company is to operate the Cornwall 365 What's On listings service and printed guide, box office and consultancy services.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

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

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future as it has the continued support of its parent company Creative Kernow Limited. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Creative Kernow Enterprises Limited
(formerly Cornwall Arts Marketing Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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.

Government grants

Grants, including government grants, are recognised when the entity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. Capital grants are treated as deferred income which is credited to the Profit and Loss Account by instalments over the expected useful economic life of the related asset on a basis consistent with the depreciation policy.

Tax

The 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 net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Tangible assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Asset class	Depreciation method and rate
Fixtures and fittings	Straight line basis over 5 years

Creative Kernow Enterprises Limited
(formerly Cornwall Arts Marketing Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair
value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	5 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 4).

Creative Kernow Enterprises Limited
(formerly Cornwall Arts Marketing Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	10,000	10,000
At 31 March 2025	10,000	10,000
Amortisation
At 1 April 2024	10,000	10,000
At 31 March 2025	10,000	10,000
Carrying amount
At 31 March 2025	-	-

5	Tangible assets

	Fixtures and fittings £	Total £
Cost or valuation
At 1 April 2024	599	599
At 31 March 2025	599	599
Depreciation
At 1 April 2024	599	599
At 31 March 2025	599	599
Carrying amount
At 31 March 2025	-	-

6

Debtors

	2025 £	2024 £
Trade debtors	45,316	17,053
Other debtors	19,464	2,878
	64,780	19,931

Creative Kernow Enterprises Limited
(formerly Cornwall Arts Marketing Limited)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Trade creditors		1,597	9,219
Amounts owed to group undertakings and undertakings in which the company has a participating interest		16,105	6,708
Taxation and social security		13,561	8,356
Other creditors		30,200	77,133
		61,463	101,416

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9	Parent and ultimate parent undertaking

The company's immediate parent in Creative Kernow Limited, incorporated in England and Wales.

The most senior parent entity producing publicly available financial statements is Creative Kernow Limited.

These financial statements are available upon request from:
Creative Kernow Enterprises
West Park
Redruth
Cornwall
TR15 3AJ
England