ACCOUNTS - Final Accounts preparation

Registered number: 04050413

CREAMBAY LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED

31 DECEMBER 2024

01483 755 399

hamlyns.com

CREAMBAY LIMITED

REGISTERED NUMBER: 04050413

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£000		£000

Fixed assets
Investments	4		9,560		20,243
			9,560		20,243

Creditors: amounts falling due within one year	5	(100)		(100)
Net current liabilities			(100)		(100)
Total assets less current liabilities			9,460		20,143

Net assets			9,460		20,143

Capital and reserves
Called up share capital	18,558	18,558
Profit and loss account	(9,098)	1,585
	9,460	20,143

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 September 2025.

Timothy Southgate

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

CREAMBAY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Creambay Limited is a private company limited by shares, registered in England and Wales. Its registered
number and registered office address are shown below:
Registered number: 04050413
Registered office address: Liverpool Road East, Kidsgrove, Stoke-On-Trent, Staffordshire, England, ST7
3AA

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Exemption from preparing consolidated financial statements

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of a state other than the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 401 of the Companies Act 2006.

2.3

Going concern

The Group operates an annual budget process. The Group’s budgets, and risks to their achievement are reviewed by the Board and, once approved are used as the basis for monitoring the Group’s performance, incentivising employees, and providing external guidance to shareholders.
As a result of these considerations, the directors are satisfied that the ultimate parent company would have the ability to provide support to Creambay Limited if required and therefore have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

2.4

Foreign currency

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

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CREAMBAY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.6

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

4.	Fixed asset investments

		Investments in subsidiary companies
		£000
	Cost or valuation
	At 1 January 2024	20,243
	Amounts written off	(10,683)
	At 31 December 2024	9,560

Page 3

CREAMBAY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Subsidiary undertakings
The following were subsidiary undertakings of the Company:
Name	Registered office	Holding

	Oxerra Pigments UK Limited	Oxerra UK Limited Liverpool Road East Kidsgrove Stoke-On- Trent Staffordshire England ST7 3AA	100%
	Inorganic Pigments Limited	Oxerra UK Limited Liverpool Road East Kidsgrove Stoke-On- Trent Staffordshire England ST7 3AA	100%

5.	Creditors: Amounts falling due within one year
		2024	2023
		£000	£000

Amounts owed to group undertakings	100	100
	100	100

Page 4

CREAMBAY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6.	Share capital
		2024	2023
		£000	£000

Allotted, called up and fully paid

18,558,114 (2023 - 18,558,114) ordinary shares of £1.00 each	18,558	18,558

7.	Related party transactions
	The Company has taken advantage of the exemption available to group companies within FRS 102 Section 33 “Related Party Disclosures” which allows it not to disclose transactions with Cathay Pigments Holdings Limited. There were no related party transactions during the year other than with wholly owned subsidiaries.

8.	Controlling party

The immediate parent company is Cathay Pigments Holdings Limited, a company incorporated in the
British Virgin Islands (BVI). As at 31 December 2024, Cathay Pigments Holdings Limited is the controlling
party of Creambay Limited.
The results of Creambay Limited for the year ended 31 December 2024 have been consolidated in the
financial statements of Cathay Pigments Holdings Limited and being the largest and smallest parent
undertaking to prepare group financial statements.
The registered office of Cathay Pigments Holdings Limited is P.O. Box 2208, Commence Chambers,
Road Town, Tortola, the BVI and its principle place of business is at 8 Temasek Boulevard, 15-06, Suntec
Tower Three, Singapore 038988

9.	Provisions available for audits of small entities

In common with many other businesses of our size and nature, we use our auditor to prepare and submit
returns to the tax authorities and assist with the preparation of the financial statements.

10.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 3 September 2025 by Oliver Spevack (senior statutory auditor) on behalf of Hamlyns Limited.

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