Creative Risk Solutions Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05506143 (England and Wales)

FINANCIAL STATEMENTS FOR THE PERIOD 1 APRIL 2016 TO 30 APRIL 2017

FOR

CREATIVE RISK SOLUTIONS LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

A J Norcott

J Shields

Ms J E Wilkins

SECRETARY:

Ms E L Ainscough

REGISTERED OFFICE:

Pod 1 Capital Shopping Park

Leckwith Road

Cardiff

CF11 8EG

REGISTERED NUMBER:

05506143 (England and Wales)

ACCOUNTANTS:

Clive Shedd & Co

Chartered Accountants

232 Sladepool Farm Road

Birmingham

B14 5EE

FIXED ASSETS

Tangible assets

5

150

800

CURRENT ASSETS

Debtors

6

135,534

210,342

Cash at bank

4,700

7,456

140,234

217,798

CREDITORS

Amounts falling due within one year

7

113,599

140,775

NET CURRENT ASSETS

26,635

77,023

TOTAL ASSETS LESS CURRENT LIABILITIES

26,785

77,823

CREDITORS

Amounts falling due after more than one year

8

(3,083

)

(163,167

)

PROVISIONS FOR LIABILITIES

-

(120

)

NET ASSETS/(LIABILITIES)

23,702

(85,464

)

CAPITAL AND RESERVES

Called up share capital

10

345,100

235,100

Retained earnings

(321,398

)

(320,564

)

SHAREHOLDERS' FUNDS

23,702

(85,464

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 30 October 2017 and were signed on its behalf by:

A J Norcott - Director

1.	STATUTORY INFORMATION

Creative Risk Solutions Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The company's functional and presentation currency is the pound sterling, rounded to the nearest £.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

In preparing these financial statements the company's management make judgements, estimates and assumptions

that affect the amounts reported for assets and liabilities at the statement of financial position date and the

amounts reported in the income statement for the period under review.

The nature of estimates means that the actual outcome could differ and the company's management consider

there are no estimates or assumptions that have a significant risk of causing a material adjustment to the amounts

reported for assets and liabilities within the next financial year.

The company's management also consider the future cash requirements of the company and its available

resources in order to ensure that the going concern basis used in the preparation of these financial statements is

appropriate for the foreseeable future.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Fee, commission and brokerage income includes initial income receivable on the commencement of a new policy

which is recognised when the policy goes on risk. Fee and commission income also includes on-going fees

which are recognised as the services are provided and renewal commissions which are recognised when earned.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Tangible fixed assets are initially recorded at cost.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the

current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax

rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Operating lease commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company contributes to defined contribution pension schemes for its employees. Contributions payable are

charged to profit or loss in the period to which they relate.

Financial instruments

Basic financial assets, including trade debtors, amounts owed by group undertakings and cash at bank, are

initially recognised at transaction price and are subsequently measured at amortised cost. Basic financial

liabilities, including trade creditors and bank borrowings, are initially recognised at transaction price and are

subsequently measured at amortised cost.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees

are entitled are recognised at the amount expected to be paid in exchange for that service.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 8 (2016 - 9 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

and 30 April 2017

74,086

DEPRECIATION

At 1 April 2016

73,286

Charge for period

650

At 30 April 2017

73,936

NET BOOK VALUE

At 30 April 2017

150

At 31 March 2016

800

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

117,320

132,645

Amounts owed by group undertakings

10,745

-

Other debtors

-

59,709

Prepayments and accrued income

7,469

17,988

135,534

210,342

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

46,167

47,000

Trade creditors

13,963

10,328

Taxation and social security

23,168

35,725

Other creditors

-

7,446

Directors' current accounts

-

6,324

Accruals and deferred income

30,301

33,952

113,599

140,775

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 1 to 2 years

3,083

47,000

Bank loans - 2 to 5 years

-

6,167

Amounts owed to group undertakings

-

110,000

3,083

163,167

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

49,250

100,167

The company's bank borrowings are secured by a company debenture. Any assets held in accounts designated

client accounts are excluded from the security given.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

345,100

Ordinary

£1

345,100

235,100

11.	IMMEDIATE AND ULTIMATE PARENT COMPANY