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REGISTERED NUMBER: 03901489 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

CREEK METALS LIMITED

CREEK METALS LIMITED (REGISTERED NUMBER: 03901489)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


CREEK METALS LIMITED

COMPANY INFORMATION
for the year ended 30 June 2024







DIRECTORS: Mr A W Lawrence
Mr M A Dean





SECRETARY: Mr A W Lawrence





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 03901489 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

CREEK METALS LIMITED (REGISTERED NUMBER: 03901489)

ABRIDGED BALANCE SHEET
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,107,019 1,209,271
1,107,019 1,209,271

CURRENT ASSETS
Stocks 77,031 74,931
Debtors 725,988 747,810
Cash in hand 5,340 6,754
808,359 829,495
CREDITORS
Amounts falling due within one year 1,107,943 1,183,431
NET CURRENT LIABILITIES (299,584 ) (353,936 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

807,435

855,335

CREDITORS
Amounts falling due after more than one year (39,863 ) (163,788 )

PROVISIONS FOR LIABILITIES (117,800 ) (117,800 )
NET ASSETS 649,772 573,747

CAPITAL AND RESERVES
Called up share capital 4 4
Fair value reserve 502,200 502,200
Retained earnings 147,568 71,543
SHAREHOLDERS' FUNDS 649,772 573,747

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

CREEK METALS LIMITED (REGISTERED NUMBER: 03901489)

ABRIDGED BALANCE SHEET - continued
30 June 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 15 January 2025 and were signed on its behalf by:





Mr M A Dean - Director


CREEK METALS LIMITED (REGISTERED NUMBER: 03901489)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Creek Metals Limited 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.

The accounts have been prepared on the going concern basis as the directors are of the opinion that the company will meet its liabilities as and when due, due to the continued support of the directors.

Turnover
Turnover represents net invoiced sales of metals, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - Not provided
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Freehold properties are properties held to earn rentals and for capital appreciation. Freehold properties are initially measured at cost, including transaction costs. Subsequently freehold properties are measured at fair value. Gains and losses arising from changes in the fair value of freehold properties are included in profit or loss in the period in which they arise.

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.


CREEK METALS LIMITED (REGISTERED NUMBER: 03901489)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023
and 30 June 2024 454,840
AMORTISATION
At 1 July 2023
and 30 June 2024 454,840
NET BOOK VALUE

At 30 June 2024 -
At 30 June 2023 -

CREEK METALS LIMITED (REGISTERED NUMBER: 03901489)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023
and 30 June 2024 2,522,215
DEPRECIATION
At 1 July 2023 1,312,944
Charge for year 102,252
At 30 June 2024 1,415,196
NET BOOK VALUE
At 30 June 2024 1,107,019
At 30 June 2023 1,209,271

Freehold property was valued on an open market basis on 30 June 2024 by the directors.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 July 2023
and 30 June 2024 928,900
DEPRECIATION
At 1 July 2023 588,022
Charge for year 85,219
At 30 June 2024 673,241
NET BOOK VALUE
At 30 June 2024 255,659
At 30 June 2023 340,878

CREEK METALS LIMITED (REGISTERED NUMBER: 03901489)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 251,659 259,248
Hire purchase contracts 139,208 278,536
390,867 537,784

The company's bankers hold a debenture from 6 August 2004 over the whole of the company's assets as security against short term advances.

Hire purchase contracts are secured against the assets which they relate.

7. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £1,528 (2023: NIL) to the directors.