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REGISTERED NUMBER: 05506143 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

CREATIVE RISK SOLUTIONS LTD

CREATIVE RISK SOLUTIONS LTD (REGISTERED NUMBER: 05506143)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


CREATIVE RISK SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: A J Norcott
I Storm
N M Bruno





SECRETARY: E L Ainscough





REGISTERED OFFICE: 6 Deryn Court
Wharfedale Road
Pentwyn
Cardiff
CF23 7HA





REGISTERED NUMBER: 05506143 (England and Wales)





ACCOUNTANTS: Clive Shedd & Co
Chartered Accountants
232 Sladepool Farm Road
Birmingham
B14 5EE

CREATIVE RISK SOLUTIONS LTD (REGISTERED NUMBER: 05506143)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 5,096 2,102

CURRENT ASSETS
Debtors 6 356,680 312,672
Cash at bank 91,812 211,494
448,492 524,166
CREDITORS
Amounts falling due within one year 7 103,781 234,123
NET CURRENT ASSETS 344,711 290,043
TOTAL ASSETS LESS CURRENT
LIABILITIES

349,807

292,145

CAPITAL AND RESERVES
Called up share capital 9 345,100 345,100
Retained earnings 4,707 (52,955 )
SHAREHOLDERS' FUNDS 349,807 292,145

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

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

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 27 January 2025 and were signed on its behalf by:





A J Norcott - Director


CREATIVE RISK SOLUTIONS LTD (REGISTERED NUMBER: 05506143)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

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 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.

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 - 33% on cost and 20% on cost

Tangible fixed assets are initially recorded at cost.

Financial instruments
Basic financial assets and liabilities are initially recognised at transaction price and are subsequently measured at amortised cost.


CREATIVE RISK SOLUTIONS LTD (REGISTERED NUMBER: 05506143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. ACCOUNTING POLICIES - continued
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.

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 year was 9 (2023 - 10 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 79,691
Additions 4,141
At 30 April 2024 83,832
DEPRECIATION
At 1 May 2023 77,589
Charge for year 1,147
At 30 April 2024 78,736
NET BOOK VALUE
At 30 April 2024 5,096
At 30 April 2023 2,102

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 111,004 100,783
Amounts owed by group undertakings 219,555 186,649
Other debtors 10,000 102
Prepayments and accrued income 16,121 25,138
356,680 312,672

CREATIVE RISK SOLUTIONS LTD (REGISTERED NUMBER: 05506143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 6,966 35,308
Taxation and social security 37,129 27,712
Accruals and deferred income 59,686 171,103
103,781 234,123

8. SECURED DEBTS

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.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
345,100 Ordinary £1 345,100 345,100

10. IMMEDIATE AND ULTIMATE PARENT COMPANY

The directors consider the immediate parent company to be Circle Insurance Services Limited a company
registered in England and Wales.

The ultimate parent company is considered to be Circle 1991 Limited, a company registered in England and
Wales and copies of the consolidated financial statements can be obtained from Faraday House, 118 Holyhead
Road, Coventry, CV1 3LY.