COMPANY REGISTRATION NUMBER:
13851551
Creative Concepts St Helens & Wigan Limited |
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Filleted Unaudited Financial Statements |
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Creative Concepts St Helens & Wigan Limited |
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Statement of Financial Position |
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31 January 2023
Fixed assets
Intangible assets |
4 |
7,600 |
|
|
|
Current assets
Cash at bank and in hand |
2,336 |
|
|
Creditors: amounts falling due within one year |
5 |
10,574 |
|
-------- |
Net current liabilities |
8,238 |
|
------- |
Total assets less current liabilities |
(
638) |
|
---- |
Net liabilities |
(
638) |
|
---- |
|
|
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Capital and reserves
Called up share capital |
6 |
100 |
Profit and loss account |
(
738) |
|
---- |
Shareholders deficit |
(
638) |
|
---- |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 January 2023 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 period in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
6 October 2023
, and are signed on behalf of the board by:
Company registration number:
13851551
Creative Concepts St Helens & Wigan Limited |
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Notes to the Financial Statements |
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Period from 17 January 2022 to 31 January 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sycamore House, Sutton Quays Business Park, Sutton Weaver, Runcorn, Cheshire, WA7 3EH, UK.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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
.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably
.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
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Franchise Fee |
- |
5 years straight line |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Impairment of fixed assets
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units
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Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method
.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
4.
Intangible assets
|
Franchise Fee |
|
£ |
Cost |
|
Additions |
9,500 |
|
------- |
At 31 January 2023 |
9,500 |
|
------- |
Amortisation |
|
Charge for the period |
1,900 |
|
------- |
At 31 January 2023 |
1,900 |
|
------- |
Carrying amount |
|
At 31 January 2023 |
7,600 |
|
------- |
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5.
Creditors:
amounts falling due within one year
|
31 Jan 23 |
|
£ |
Accruals and deferred income |
600 |
Director loan accounts |
473 |
Other creditors |
9,501 |
|
-------- |
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10,574 |
|
-------- |
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6.
Called up share capital
Issued, called up and fully paid
|
31 Jan 23 |
|
No. |
£ |
Ordinary shares of £ 1 each |
100 |
100 |
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---- |
---- |
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7.
Directors' advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
|
31 Jan 23 |
|
|
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
|
|
£ |
£ |
£ |
|
Mr GJ Weston |
– |
(
473) |
(
473) |
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---- |
---- |
---- |
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