REGISTERED NUMBER: 04156433

CRE8TIVE ROOMS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

-

12,710

-

12,710

CURRENT ASSETS

Stocks

125,474

294,241

Debtors

6

469,395

433,495

Cash at bank

24,732

91,662

619,601

819,398

CREDITORS

Amounts falling due within one year

7

(484,655

)

(457,444

)

NET CURRENT ASSETS

134,946

361,954

TOTAL ASSETS LESS CURRENT LIABILITIES

134,946

374,664

DEFERRED TAXATION

9

-

(3,177

)

NET ASSETS

134,946

371,487

CAPITAL AND RESERVES

Called up share capital

167

167

Share premium account

99,933

99,933

Retained earnings

34,846

271,387

134,946

371,487

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2025 and were signed on its behalf by:

N R Sedgwick - Director

1.	GENERAL INFORMATION

Cre8tive Rooms Ltd is a private limited company (limited by shares) incorporated in England and Wales. The address of the registered office is 9 Minster Court, Tuscam Way, Camberley, Surrey, England, GU15 3YY.

The principle activity of the company is the provision of residential technology services.

2.	ACCOUNTING POLICIES

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;

- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of turnover can be measured reliably;

- it is probable that the Company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery - 25%

Computer equipment - 25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income and retained earnings except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Going concern

The directors consider the going concern basis to be appropriate having paid due regard to the company’s projected results during the twelve months from the date the financial statements are approved and the anticipated future cash flows of the company.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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.

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Website

develop-

ment

£

Cost

At 1 January 2024

and 31 December 2024

14,870

Amortisation

At 1 January 2024

and 31 December 2024

14,870

Net book value

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

Office

machinery

equipment

Totals

£

£

£

Cost

At 1 January 2024

3,058

71,741

74,799

Disposals

(3,058

)

(71,741

)

(74,799

)

At 31 December 2024

-

-

-

Depreciation

At 1 January 2024

3,058

59,031

62,089

Charge for year

-

3,178

3,178

Eliminated on disposal

(3,058

)

(62,209

)

(65,267

)

At 31 December 2024

-

-

-

Net book value

At 31 December 2024

-

-

-

At 31 December 2023

-

12,710

12,710

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

235,886

190,671

Other debtors

149,854

145,690

Prepayments and accrued income

83,655

97,134

469,395

433,495

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

-

8,334

Trade creditors

318,277

280,713

Corporation tax

28,464

42,570

Other taxation and social security

22,302

100,102

VAT

86,842

-

Other creditors

17,584

1,613

Credit card

5,936

7,885

Shareholder loan

-

9,333

Accruals

5,250

6,894

484,655

457,444

In 2020, the company received a Coronavirus Business Interruption Loan of £60,000. At 31 December 2024, the outstanding balance of this loan was £Nil (2023: £8,334).

8.

COMMITMENTS UNDER OPERATING LEASES

The Company had no commitments under non-cancellable operating leases at the balance sheet date.

9.	DEFERRED TAXATION

2024

2023

£

£

Deferred tax

-

3,177

Deferred

tax

£

Balance at 1 January 2024

3,177

Credit to Statement of Income and Retained Earnings during year

(3,177

)

Balance at 31 December 2024

-

10.	CONTINGENT LIABILITIES

During the previous year, the company received notice of a legal claim being made against the company by a former employee in relation to an accident that occurred in work. At the time of approving the financial statements for the year ended 31 December 2024, no further correspondence has been received relating to the claim so it is currently impractical to estimate the financial effect, the timing of any outflow of resources or the possibility of any reimbursement.

11.	PENSION COMMITMENTS

The pension cost charge represents contributions payable by the Company to the fund and amounted to £12,302 (2023: £11,893). Contributions totalling £806 (2023: £142) were repayable from the fund at the balance sheet date and are included in other debtors.

12.	RELATED PARTY TRANSACTIONS

As at 31 December 2024, there were loans from shareholders with a total balance of £Nil (2023: £9,333). The remaining balance as at 31 December 2023 related to interest previously charged on the loans. There is no further interest accruing on this balance and it has been repaid in full by the balance sheet date.

As at 31 December 2024, there were loans owed to the Company by directors totalling £91,044 (2023: £81,923), included in Other debtors. These loans were repayable on demand and subject to interest at HMRC's official rate.