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Unaudited Financial Statements for the Year Ended 30 June 2020 |
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Creative Network Partners Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 June 2020 |
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for |
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Creative Network Partners Limited |
Creative Network Partners Limited (Registered number: 08971892) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Creative Network Partners Limited |
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Company Information |
for the Year Ended 30 June 2020 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Jestam House |
8 Amherst Hill |
Sevenoaks |
Kent |
TN13 2EL |
Creative Network Partners Limited (Registered number: 08971892) |
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Balance Sheet |
30 June 2020 |
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30.6.20 | 30.6.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
Creative Network Partners Limited (Registered number: 08971892) |
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Balance Sheet - continued |
30 June 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Creative Network Partners Limited (Registered number: 08971892) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2020 |
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1. | STATUTORY INFORMATION |
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Creative Network Partners Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Tangible fixed assets |
Investment Property |
Depreciation is not provided on the freehold properties in accordance with the Statement of Standard Accountancy Practice 19 - 'Accounting for Investment Properties'. This is a departure from the Companies Acts. The director considers that to depreciate would not give a true and fair view. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2019 - NIL). |
Creative Network Partners Limited (Registered number: 08971892) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
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4. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
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COST |
At 1 July 2019 |
and 30 June 2020 |
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NET BOOK VALUE |
At 30 June 2020 |
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At 30 June 2019 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1 July 2019 |
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Additions |
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At 30 June 2020 |
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NET BOOK VALUE |
At 30 June 2020 |
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At 30 June 2019 |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Registered office: Hackney Downs Studios,Amhurst Terrace, London E8 2BT |
Nature of business:
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Class of shares: | holding |
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30.6.20 | 30.6.19 |
£ | £ |
Aggregate capital and reserves |
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Profit for the year |
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Registered office: Hackney Downs, Amhurst Terrace, London E8 2BT |
Nature of business:
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Class of shares: | holding |
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30.6.20 | 30.6.19 |
£ | £ |
Aggregate capital and reserves | ( |
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Loss for the year | ( |
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Creative Network Partners Limited (Registered number: 08971892) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
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5. | FIXED ASSET INVESTMENTS - continued |
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Registered office: Hackney Downs, Amhurst Terrace, London E8 2BT |
Nature of business:
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Class of shares: | holding |
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30.6.20 | 30.6.19 |
£ | £ |
Aggregate capital and reserves | ( |
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Loss for the year | ( |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.20 | 30.6.19 |
£ | £ |
Amounts owed by group undertakings |
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Amounts owed by associates |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.20 | 30.6.19 |
£ | £ |
Bank loans and overdrafts |
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Amounts owed to group undertakings |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.6.20 | 30.6.19 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 908,994 | 981,396 |
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9. | RELATED PARTY DISCLOSURES |
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Included in other debtors is a sum of £8,868,838 (other creditors 2019: £7,309,668 ) due to Eat Work Art Limited, a wholly owned subsidiary of Creative Network Partners Limited. |
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Included in other debtors is a sum of £7,046,458 (other creditors 2019: £5,774,678) due from Creative Network Communications Limited, a wholly owned subsidiary of Creative Network Partners Limited. |
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Included in other debtors is a sum of £1,825,653 (2019: £1,557,362) due from Holetown Limited, a wholly owned subsidiary of Creative Network Partners Limited. |