Company registration number 07240943 (England and Wales)
BORN AND RAISED CREATIVE LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
BORN AND RAISED CREATIVE LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 7
BORN AND RAISED CREATIVE LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Current assets
Debtors
4
50,400
1,087,929
Cash at bank and in hand
7,322
3,488
57,722
1,091,417
Creditors: amounts falling due within one year
5
(241,561)
(365,783)
Net current (liabilities)/assets
(183,839)
725,634
Creditors: amounts falling due after more than one year
6
(30,000)
(95,000)
Provisions for liabilities
-
0
(4,000)
Net (liabilities)/assets
(213,839)
626,634
Capital and reserves
Called up share capital
143
143
Share premium account
9,957
9,957
Profit and loss reserves
(223,939)
616,534
Total equity
(213,839)
626,634

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 18 February 2026 and are signed on its behalf by:
Mr A R Weir
Director
Company registration number 07240943 (England and Wales)
BORN AND RAISED CREATIVE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Born and Raised Creative Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 275 Kirkstall Road, Kirkstall Industrial Estate, Leeds, West Yorkshire, LS4 2BX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Born and Raised Creative Ltd is a wholly owned subsidiary of Ride Shotgun Ltd. The registered office of Ride Shotgun Ltd is 275 Kirkstall Road, Kirkstall Industrial Estate, Leeds, LS4 2BX.

1.2
Prior period error

Correction of prior period errors are disclosed in note 9 of these financial statements.

1.3
Going concern

During the year the company trade was transferred to its parent company, Ride Shotgun Limited.

Following the transfer of trade the company will utilise financial support from it’s parent company, Ride Shotgun Limited.

At the time of approving the financial statements, the directors are considering the future of the company and the current intention following the settlement of all remaining liabilities is that the company will be dissolved.

No formal decision will be made on this until the settlement of liabilities, thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements and conclude that the business will continue as a going concern for a period of at least twelve months from the date the financial statements are authorised for issue.

BORN AND RAISED CREATIVE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.4
Turnover

Revenue comprises sales of services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from contracts for the provision of advertising services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

1.5
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 current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

BORN AND RAISED CREATIVE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

BORN AND RAISED CREATIVE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no judgements or key sources of estimation uncertainty.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
5
4
Debtors
2024
2023
as restated
Amounts falling due within one year:
£
£
Trade debtors
-
0
36,051
Amounts owed by group undertakings
50,400
1,051,878
50,400
1,087,929

Amounts owed from group undertakings are repayable on demand. No interest is charged on these balances,

BORN AND RAISED CREATIVE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
as restated
£
£
Bank loans
60,000
60,000
Trade creditors
-
0
8,935
Taxation and social security
181,561
92,231
Other creditors
-
0
204,617
241,561
365,783
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
30,000
95,000
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is qualified and includes the following:

Qualified opinion on the financial statements for the period ended 31 December 2024

In our opinion, except for the effects of the matter described in the Basis for Qualified Opinion paragraph, the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion

The financial statements for the year ended 31 December 2023 were unaudited. We were appointed as auditors during the year and we have been unable to carry out auditing procedures necessary to obtain adequate assurance regarding the opening balances and comparative figures as at 31 December 2023.

Prior year restatements have been processed in this financial year which have restated the opening balances and comparative figures, however, we have been unable to obtain sufficient assurance on those restated opening balances.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

BORN AND RAISED CREATIVE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
7
Audit report information
(Continued)
- 7 -
Senior Statutory Auditor:
Lewis Cross
Statutory Auditor:
Azets Audit Services
Date of audit report:
19 February 2026
8
Related party transactions

Under FRS 102, related party transactions entered into between two or more members of a group provided that any subsidiary which is a party to a transaction is wholly owned by a member are exempt from disclosure.

9
Parent company

The company is a subsidiary Ride Shotgun Ltd, a company incorporated in England. The smallest and largest group in which the company is consolidated is the consolidated accounts of the parent, which are publicly available from Companies House and from their registered office at 275 Kirkstall Road, Kirkstall Industrial Estate, Leeds, England, LS4 2BX. There is no ultimate controlling party.

10
Prior period adjustment

A review of the opening balances indicated that material misstatements had occurred.

These errors occurred due to oversights, misinterpretation of facts and mistakes in applying accounting policies.

“FRS 102 Section 10 requires retrospective restatement unless it is impracticable to determine either the period‑specific effects or the cumulative effect of an error. Given the condition of historical records, and the absence of sufficient information to reconstruct accurate period‑specific impacts, full retrospective restatement was not practicable. The Group has therefore applied the correction from the earliest date for which reliable information was available, with remaining amounts recognised in opening reserves.

Changes to the statement of financial position
As previously reported
Adjustment
As restated at 31 Dec 2023
£
£
£
Current assets
Debtors due within one year
1,459,778
(371,849)
1,087,929
Creditors due within one year
Taxation
(21,525)
(70,706)
(92,231)
Other creditors
(602,168)
388,616
(213,552)
Net assets
680,573
(53,939)
626,634
Capital and reserves
Profit and loss reserves
670,473
(53,939)
616,534

Adjustments noted above include the reclassifcaiton of £387,448 of deferred income reclassified from Trade debtors.

2024-12-31 2024-01-01 false false false 19 February 2026 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr A R Weir Mr M J MallinderTUE Mr A M Littlewood Mr J J Dark 07240943 2024-01-01 2024-12-31 07240943 2024-12-31 07240943 2023-12-31 07240943 core:WithinOneYear 2024-12-31 07240943 core:WithinOneYear 2023-12-31 07240943 core:AfterOneYear 2024-12-31 07240943 core:AfterOneYear 2023-12-31 07240943 core:ShareCapital 2024-12-31 07240943 core:ShareCapital 2023-12-31 07240943 core:SharePremium 2024-12-31 07240943 core:SharePremium 2023-12-31 07240943 core:RetainedEarningsAccumulatedLosses 2024-12-31 07240943 core:RetainedEarningsAccumulatedLosses 2023-12-31 07240943 bus:Director1 2024-01-01 2024-12-31 07240943 2023-01-01 2023-12-31 07240943 core:CurrentFinancialInstruments 2024-12-31 07240943 core:CurrentFinancialInstruments 2023-12-31 07240943 core:Non-currentFinancialInstruments 2024-12-31 07240943 core:Non-currentFinancialInstruments 2023-12-31 07240943 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07240943 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07240943 bus:FRS102 2024-01-01 2024-12-31 07240943 bus:Audited 2024-01-01 2024-12-31 07240943 bus:Director2 2024-01-01 2024-12-31 07240943 bus:Director3 2024-01-01 2024-12-31 07240943 bus:Director4 2024-01-01 2024-12-31 07240943 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP