ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

CARROLL CREATIVE CONSULTANCY LTD - Company Information

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Caseware UK (AP4) 2018.0.196 2018.0.196 2018-05-312018-05-312019-05-24The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2017-06-01 09025214 2017-06-01 2018-05-31 09025214 2016-06-01 2017-05-31 09025214 2018-05-31 09025214 2017-05-31 09025214 c:Director1 2017-06-01 2018-05-31 09025214 d:CurrentFinancialInstruments 2018-05-31 09025214 d:CurrentFinancialInstruments 2017-05-31 09025214 d:CurrentFinancialInstruments d:WithinOneYear 2018-05-31 09025214 d:CurrentFinancialInstruments d:WithinOneYear 2017-05-31 09025214 d:ShareCapital 2018-05-31 09025214 d:ShareCapital 2017-05-31 09025214 d:RetainedEarningsAccumulatedLosses 2018-05-31 09025214 d:RetainedEarningsAccumulatedLosses 2017-05-31 09025214 c:FRS102 2017-06-01 2018-05-31 09025214 c:AuditExempt-NoAccountantsReport 2017-06-01 2018-05-31 09025214 c:FullAccounts 2017-06-01 2018-05-31 09025214 c:PrivateLimitedCompanyLtd 2017-06-01 2018-05-31 iso4217:GBP xbrli:pure

Registered number: 09025214









CARROLL CREATIVE CONSULTANCY LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2018
 
CARROLL CREATIVE CONSULTANCY LTD
REGISTERED NUMBER: 09025214

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2018

2018
2017
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
-
10,535

Cash at bank and in hand
  
-
736

  
-
11,271

Creditors: amounts falling due within one year
  
(112,950)
(32,408)

Net current liabilities
  
 
 
(112,950)
 
 
(21,137)

Total assets less current liabilities
  
(112,950)
(21,137)

  

Net liabilities
  
(112,950)
(21,137)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(113,050)
(21,237)

  
(112,950)
(21,137)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 May 2019.


C Carroll
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1
 
CARROLL CREATIVE CONSULTANCY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018

1.


General information

Carroll Creative Consultancy Limited is a private company limited by shares and registered in England & Wales. The address of its registered office is 269 Farnborough Road, Farnborough, Hampshire, GU14 7LY and its principal place of business is 3rd Floor Flat, Gloucester Place, London, W1U 8JR.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the reporting date the company had net liabilities of £112,950 and is dependent on the support of its director who has confirmed her intention to support the company. As a result the director believes it is appropriate to prepare the accounts on the going concern basis. The financial  statements  do  not  include  adjustments  that would result from the withdrawal of this financial support.

 
2.3

Revenue

Revenue comprises consultancy services and production income and donations received.
Consultancy service income is recognised in the Statement of Income and Retained Earnings in the period it is contractually due.
Production funding is recognised in the Statement of Income and Retained Earnings in the period it is
contractually due and expended on production and other costs.

 
2.4

Taxation

Tax is recognised in the Statement of Income and Retained Earnings. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
The Company is eligible to claim a tax credit on film production costs; the tax credit comprises relief based on total net costs and an additional deduction for enhanceable expenditure. The Company claims a payment based on the amount of enhanced expenditure and carries losses arising from total net costs forward against future profits.

 
2.5

Debtors

Short term debtors are measured at the transaction price, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Page 2
 
CARROLL CREATIVE CONSULTANCY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018

2.Accounting policies (continued)

 
2.7

Creditors

Short term creditors are measured at the transaction price, less any impairment.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2017 - 1).


4.


Debtors

2018
2017
£
£


Prepayments and accrued income
-
10,535

-
10,535



5.


Cash and cash equivalents

2018
2017
£
£

Cash at bank and in hand
-
736

Less: bank overdrafts
(225)
-

(225)
736


Page 3
 
CARROLL CREATIVE CONSULTANCY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018

6.


Creditors: Amounts falling due within one year

2018
2017
£
£

Bank overdrafts
225
-

Trade creditors
-
66

Corporation tax
-
197

Other taxation and social security
5
5

Other creditors
110,920
31,000

Accruals and deferred income
1,800
1,140

112,950
32,408



7.


Related party transactions

During the year expenses totalling £90,168 (2017: £20,752) were paid on behalf of the company by C Carroll. At the reporting date £110,920 (2017: £20,752) was due to C Carroll, the director of the company. The loan is repayable on demand and and not interest bearing. 


8.


Controlling party

Throughout the year the company was under the control of the director by virtue of their shareholding.

 
Page 4