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REGISTERED NUMBER: 02678318 (England and Wales)















Creative Displays (U.K.) Ltd.

Unaudited Financial Statements

for the year ended

31 May 2024






Creative Displays (U.K.) Ltd. (Registered number: 02678318)

Contents of the Financial Statements
for the year ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6


Creative Displays (U.K.) Ltd.

Company Information
for the year ended 31 May 2024







DIRECTOR: M P Cater





REGISTERED OFFICE: Cater Cunningham House
St. Helens Way
Thetford
Norfolk
IP24 1HG





REGISTERED NUMBER: 02678318 (England and Wales)

Creative Displays (U.K.) Ltd. (Registered number: 02678318)

Balance Sheet
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 782,194 818,502

CURRENT ASSETS
Stocks 5 250,782 202,176
Debtors 6 608,464 479,342
Cash at bank and in hand 20,455 36,131
879,701 717,649
CREDITORS
Amounts falling due within one year 7 (830,224 ) (582,568 )
NET CURRENT ASSETS 49,477 135,081
TOTAL ASSETS LESS CURRENT LIABILITIES 831,671 953,583

CREDITORS
Amounts falling due after more than one year 8 (376,634 ) (451,390 )

PROVISIONS FOR LIABILITIES (92,900 ) (99,532 )
NET ASSETS 362,137 402,661

CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 11 255,728 255,728
Retained earnings 106,309 146,833
SHAREHOLDERS' FUNDS 362,137 402,661

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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 director and authorised for issue on 20 February 2025 and were signed by:





M P Cater - Director


Creative Displays (U.K.) Ltd. (Registered number: 02678318)

Notes to the Financial Statements
for the year ended 31 May 2024


1. STATUTORY INFORMATION

Creative Displays (U.K.) 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 as modified by the revaluation of certain assets.

The company entered into a Company Voluntary Arrangement on 2 July 2020. The director is of the opinion that the company is able to meet the repayment terms imposed by the Company Voluntary Arrangement and therefore the financial statements should be prepared on the going concern basis.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 25% on cost, 15% on reducing balance and 10% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 25% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Creative Displays (U.K.) Ltd. (Registered number: 02678318)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


2. ACCOUNTING POLICIES - continued

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.

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2023 - 46 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 June 2023 779,000 500,836 25,950 51,691 1,357,477
Additions - 9,049 10,947 441 20,437
Disposals - (3,906 ) (8,033 ) - (11,939 )
At 31 May 2024 779,000 505,979 28,864 52,132 1,365,975
DEPRECIATION
At 1 June 2023 102,900 361,463 22,961 51,651 538,975
Charge for year 9,780 45,122 1,739 104 56,745
Eliminated on disposal - (3,906 ) (8,033 ) - (11,939 )
At 31 May 2024 112,680 402,679 16,667 51,755 583,781
NET BOOK VALUE
At 31 May 2024 666,320 103,300 12,197 377 782,194
At 31 May 2023 676,100 139,373 2,989 40 818,502

Included in cost or valuation of land and buildings is freehold land of £ 290,000 (2023 - £ 290,000 ) which is not depreciated.

Cost or valuation at 31 May 2024 is represented by:

Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
Valuation in 2018 255,728 - - - 255,728
Cost 523,272 505,979 28,864 52,132 1,110,247
779,000 505,979 28,864 52,132 1,365,975

Creative Displays (U.K.) Ltd. (Registered number: 02678318)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


4. TANGIBLE FIXED ASSETS - continued

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 523,272 523,272
Aggregate depreciation 84,000 84,000

Value of land in freehold land and buildings 223,273 223,273

Freehold land and buildings were valued on an open market basis on 31 May 2018 by the directors .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST OR VALUATION
At 1 June 2023
and 31 May 2024 23,788
DEPRECIATION
At 1 June 2023 6,740
Charge for year 2,379
At 31 May 2024 9,119
NET BOOK VALUE
At 31 May 2024 14,669
At 31 May 2023 17,048

5. STOCKS
2024 2023
£    £   
Stocks 81,067 73,458
Work-in-progress 169,715 128,718
250,782 202,176

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 533,475 406,727
Other debtors 74,989 72,615
608,464 479,342

Creative Displays (U.K.) Ltd. (Registered number: 02678318)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 232,033 113,395
Hire purchase contracts 4,758 4,758
Trade creditors 172,778 199,848
Amounts owed to group undertakings 98,326 -
Taxation and social security 151,064 97,469
Other creditors 171,265 167,098
830,224 582,568

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 310,000 320,000
Hire purchase contracts 793 5,550
Other creditors 65,841 125,840
376,634 451,390

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 5,551 10,308

10. CALLED UP SHARE CAPITAL

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

11. RESERVES
Revaluation
reserve
£   
At 1 June 2023
and 31 May 2024 255,728

12. OTHER FINANCIAL COMMITMENTS

The company entered into a Company Voluntary Arrangement (CVA) on 2 July 2020, under the CVA the company is to make no fewer than 60 monthly voluntary contributions of not less than £5,000 during the term of the arrangement which shall be no less than 60 months. To the Balance Sheet date the company had made 44 payments of £5,000.

13. POST BALANCE SHEET EVENTS

By February 2025, the company will fully settle all obligations under the Company Voluntary Arrangement (CVA). At the balance sheet date, CVA obligations totalled £125,841, comprising £60,000 classified as current liabilities and £65,841 as non-current liabilities.

This settlement concludes the CVA process, reflecting the company’s improved financial position. As a non-adjusting post-balance sheet event, no adjustments have been made to the financial statements.