For the financial period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Creative Properties and Investments (NI) Limited is a private company limited by shares incorporated in Northern Ireland. The registered office is 1 Ferguson Road, Lisburn, Co. Antrim, Northern Ireland, BT28 2FW.

Creative Properties and Investments (NI) Limited was incorporated on 22 August 2023, and the financial statements are for the period ended 31 December 2024.

This is the company's first presentation of financial statements since its incorporation on 22 August 2023 and covers a period of 16 months to 31 December 2024. It is the intention of the directors to report on an annual basis to 31 December in the subsequent periods.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company made a profit before tax of £217,509, after an exceptional impairment loss on a fixed asset investment of £7,000,000. The company had net current liabilities of £112,492, and net assets of £7,112,509 as at 31 December 2024.true The directors have prepared a cash flow projection for expected rental income and expenditure for the next 12 months.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Turnover represents rentals receivable from tenants during the period. Income is recognised evenly over the period during which the property is let.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Exceptional Items

Exceptional items are those that are separately disclosed by virtue of their nature or amount in order to highlight such items within the statement of profit and loss.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The average monthly number of persons (including directors) employed by the company during the period was:

Investment property comprises of two properties held by the company for investment purposes. The fair value of the investment property has been arrived at on the basis of a valuation carried out on 20 June 2023 by Colliers Chartered Surveyors, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The directors believe that this is still representative of the fair value of assets as at 31 December 2024.

National Westminster Bank PLC hold a charge over the investment property of the company.

During the period ended 31 December 2024, Creative Composites Limited (a related party) carried out a group reorganisation. As a result of the reorganisation, Creative Properties and Investments (NI) Limited became the parent company of Creative Composites Limited from 24 May 2024 to 11 September 2024.

As part of this reorganisation, Creative Properties and Investments (NI) Limited acquired the factories owned previously by Creative Composites Limited. The company obtained a valuation report at the time of the transfer and this represents the carrying value of the assets as at 31 December 2024 in the accounts of Creative Properties and Investments (NI) Limited.

On 11 September 2024, Creative Properties and Investments (NI) Limited disposed of its shares in Creative Composites Limited to Creative Corporate Holdings Limited.

As at 31 December 2024, Creative Properties and Investments (NI) Limited had one dormant subsidiary, CPIL (NI) No.1 Limited.

Details of the company's subsidiaries at 31 December 2024 are as follows:

Bank loans were secured by a legal charge over; the land and premises occupied by the company at Knockmore Hill Industrial Estate, 1 Ferguson Road, Lisburn, Co Antrim, BT28 2FW, and its associated assets.

The interest rate on bank loans was base plus 2.1%.

During the period, the company received rental income of £289,595 from a related company, and paid administrative expenses of £8,778 to a related company.

During the period, the company acquired investment property at market value from a related party.

The company is related due to common directorship.

Dividends paid to shareholders and directors are disclosed in note 4.

During the period, 15,700,001 B shares were issued and subsequently cancelled. This transaction forms part of the reorganisation process which is disclosed further in note 6.

The ultimate controlling party is the Ennis family.