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REGISTERED NUMBER: 00876568 (England and Wales)




















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CREATION BAUMANN LTD

CREATION BAUMANN LTD (REGISTERED NUMBER: 00876568)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CREATION BAUMANN LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: P Baumann
C Nash





REGISTERED OFFICE: 50 Seymour Street
London
W1H 7JG





REGISTERED NUMBER: 00876568 (England and Wales)





AUDITORS: Orcom Civvals Audit Limited
Chartered Accountants and
Statutory Auditors
50 Seymour Street
London
W1H 7JG

CREATION BAUMANN LTD (REGISTERED NUMBER: 00876568)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,269 17,395

CURRENT ASSETS
Stocks 51,135 26,476
Debtors 5 268,734 195,341
Cash at bank 123,515 151,394
443,384 373,211
CREDITORS
Amounts falling due within one year 6 729,629 633,031
NET CURRENT LIABILITIES (286,245 ) (259,820 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(281,976

)

(242,425

)

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings (283,976 ) (244,425 )
SHAREHOLDERS' FUNDS (281,976 ) (242,425 )

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

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 and authorised for issue on 21 February 2024 and were signed on its behalf by:





P Baumann - Director


CREATION BAUMANN LTD (REGISTERED NUMBER: 00876568)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Creation Baumann 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Going concern

The directors consider the going concern basis of preparation of the financial statements to be appropriate.

The directors have prepared budgets and cash flow forecasts covering a period of 12 months from the date of approval of these financial statements (the going concern assessment period) which indicate that, taking account of severe but plausible downsides, the company will have sufficient funds to meet its liabilities as they fall due for that period.

Furthermore, the company is dependent on the extended credit terms made available to it by its main supplier, Creation Baumann AG, a fellow subsidiary company. The going concern basis is considered to be appropriate in view of the fact that the parent and those of its subsidiaries have confirmed that this facility will continue to be made available for a period of at least one year from the date of the approval of these accounts.The directors have therefore prepared these financial statements on a going concern basis.

Significant judgements and estimates
The preparation of financial statements in conformity with FRS 102 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The notes to the financial statements set out areas involving a higher degree of judgement, or areas where assumptions are significant to the reporting entity and its financial report such as:
- useful economic lives of tangible assets
- fair value of assets and liabilities
- recoverability of tax receivables, deferred tax assets and measurement of current and deferred tax liabilities can require significant judgement, particularly where the recoverability of such tax balances relies on the estimation of future taxable profits and management's determination of the likelihood that uncertain tax positions will be accepted by the relevant taxation authority

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including reasonable expectations of future events. Management believes that the estimates used in preparing this financial statements are reasonable. Actual results in the future may differ from those reported and it is therefore reasonably possible, on the basis of existing knowledge, that outcomes within the next financial year that are different from management's assumptions and estimates could require an adjustment to the carrying amounts of the reported assets and liabilities in future reporting periods.

CREATION BAUMANN LTD (REGISTERED NUMBER: 00876568)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 20% to 33.33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

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

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Operating lease agreements
Rental applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

CREATION BAUMANN LTD (REGISTERED NUMBER: 00876568)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures,
fittings Motor
& equipment vehicles Totals
£    £    £   
COST
At 1 January 2023 98,883 35,998 134,881
Additions 2,887 - 2,887
Disposals - (35,998 ) (35,998 )
At 31 December 2023 101,770 - 101,770
DEPRECIATION
At 1 January 2023 95,887 21,599 117,486
Charge for year 1,614 - 1,614
Eliminated on disposal - (21,599 ) (21,599 )
At 31 December 2023 97,501 - 97,501
NET BOOK VALUE
At 31 December 2023 4,269 - 4,269
At 31 December 2022 2,996 14,399 17,395

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 254,572 179,606
Other debtors 14,162 15,735
268,734 195,341

Included in other debtors is an amount of £9,320 which relates to a rent deposit.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 63,170 94,157
Amounts owed to group undertakings 642,919 485,005
Taxation and social security 15,365 4,682
Other creditors 8,175 49,187
729,629 633,031

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Aamir Kazi (Senior Statutory Auditor)
for and on behalf of Orcom Civvals Audit Limited

CREATION BAUMANN LTD (REGISTERED NUMBER: 00876568)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
C Nash
Balance outstanding at start of year - (38 )
Amounts advanced 892 5,246
Amounts repaid - (5,208 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 892 -

The above Director's loan amount is included in Other debtors (note 7) and was fully paid off on 14 February 2024.

9. RELATED PARTY DISCLOSURES

During the year, the following related party transactions occurred:-

The company purchased goods for resale in the normal course of business and under normal terms from Creation Baumann AG, a fellow subsidiary of Creation Baumann Holding AG, at a cost of £499,720 (2022: £580,130). At the year end, a balance of £642,919 (2022: £485,005) was owed to them.

10. CONTROL

The ultimate parent company is Creation Baumann Holding AG, a company registered in Switzerland. The smallest and the largest group in which the results of the company are consolidated is headed by Creation Baumann Holding AG.

The ultimate controlling party is Mr P Baumann by virtue of his interest in the parent company.