REGISTERED NUMBER: 03892585 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Creative Motor Management Limited

Trading as

Northbank Garage

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

D R Betts

S W Betts

R J Betts

Mrs M B Betts

Registered office:

17b The Furlong

Berryhill Industrial Estate

Droitwich

WR9 9AH

Registered number:

03892585 (England and Wales)

Accountants:

Crowthers

The Courtyard

19 High Street

Pershore

Worcestershire

WR10 1AA

FIXED ASSETS

Tangible assets

4

1,028,797

1,031,049

CURRENT ASSETS

Stocks

183,789

181,990

Debtors

5

37,991

59,271

Cash at bank and in hand

312,867

51,830

534,647

293,091

CREDITORS

Amounts falling due within one year

6

308,788

289,116

NET CURRENT ASSETS

225,859

3,975

TOTAL ASSETS LESS CURRENT LIABILITIES

1,254,656

1,035,024

CREDITORS

Amounts falling due after more than one year

7

(433,818

)

(242,221

)

PROVISIONS FOR LIABILITIES

(140,599

)

(141,162

)

NET ASSETS

680,239

651,641

CAPITAL AND RESERVES

Called up share capital

9

102

102

Revaluation reserve

400,200

400,200

Retained earnings

279,937

251,339

SHAREHOLDERS' FUNDS

680,239

651,641

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2025 and were signed on its behalf by:

S W Betts - Director

1.	STATUTORY INFORMATION

Creative Motor Management Limited 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.

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.

Land and buildings

-

NIL

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Classification of financial liabilities

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

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 payment ts 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.

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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 balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Hire purchase and leasing 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 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 7 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Land and

Plant and

Motor

Office

buildings

machinery

vehicles

equipment

Totals

£

£

£

£

£

Cost or valuation

At 1 January 2024

1,000,000

102,140

10,781

10,238

1,123,159

Additions

-

5,766

-

1,582

7,348

At 31 December 2024

1,000,000

107,906

10,781

11,820

1,130,507

Depreciation

At 1 January 2024

-

73,411

9,325

9,374

92,110

Charge for year

-

8,624

364

612

9,600

At 31 December 2024

-

82,035

9,689

9,986

101,710

Net book value

At 31 December 2024

1,000,000

25,871

1,092

1,834

1,028,797

At 31 December 2023

1,000,000

28,729

1,456

864

1,031,049

Cost or valuation at 31 December 2024 is represented by:

Land and

Plant and

Motor

Office

buildings

machinery

vehicles

equipment

Totals

£

£

£

£

£

Valuation in 2018

333,600

-

-

-

333,600

Valuation in 2023

200,000

-

-

-

200,000

Cost

466,400

107,906

10,781

11,820

596,907

1,000,000

107,906

10,781

11,820

1,130,507

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

2024

2023

£

£

Cost

466,400

466,400

Freehold land and buildings were valued on an open market basis on 31 December 2024 by the Directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

36,391

56,190

Other debtors

1,600

3,081

37,991

59,271

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

48,581

40,548

Trade creditors

18,251

26,932

Taxation and social security

65,803

61,682

Other creditors

176,153

159,954

308,788

289,116

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

410,418

213,621

Other creditors

23,400

28,600

433,818

242,221

2024

2023

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

216,601

130,421

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

458,999

254,169

Atom Bank Plc holds a fixed and floating charge over all of the company's property, this contains a negative pledge.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

1

100

100

2

Class A Ordinary

1

2

2

102

102

10.	RELATED PARTY DISCLOSURES

Included within other creditors are Directors Loans totalling £161,696 (2023: £145,976) between the four Directors. These are unsecured, with no fixed repayment terms and no interest has been paid.