CTR Asset Management Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12288524

CTR Asset Management Limited

Filleted Financial Statements

31 December 2024

CTR Asset Management Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	100,217	115,112
Investments	6	22,356	22,356
		---------	---------
		122,573	137,468

Current assets

Stocks		1,511,341	1,899,153
Debtors	7	3,127,863	1,444,839
Cash at bank and in hand		492,933	1,251,286
		------------	------------
		5,132,137	4,595,278

Creditors: amounts falling due within one year	8	2,910,232	2,744,518
		------------	------------
Net current assets		2,221,905	1,850,760
		------------	------------
Total assets less current liabilities		2,344,478	1,988,228

Creditors: amounts falling due after more than one year	9	263,581	267,835

Provisions	25,055	28,778
	------------	------------
Net assets	2,055,842	1,691,615
	------------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	2,055,742	1,691,515
	------------	------------
Shareholder funds	2,055,842	1,691,615
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

CTR Asset Management Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 24 September 2025 , and are signed on behalf of the board by:

R O A Almond
Director

Company registration number: 12288524

CTR Asset Management Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Pywell Road, Willowbrook Industrial Estate, Corby, Northamptonshire, NN17 5XJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis, which places reliance on the continued support of the company's director and other group undertakings. As with the other subsidiaries within the group, the parent undertaking and fellow subsidiary undertakings would be able to provide support to the company in the form of amounts advanced to meet day to day trading expenses and operating costs should it be required. These amounts would be repayable on demand, however, the director has received assurance from the parent undertaking and its fellow group undertakings, that they would not seek such repayment until the company can do so without detriment to to its cash flow or payment of other creditors. Therefore, the director believes that the company has adequate resources to continue its current operations and that it remains appropriate to prepare the financial statements on a going concern basis and the financial statements do not include the adjustments that would result if the company was unable to continue as a going concern.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of CTR (Group) Limited which can be obtained from Unit 30 Marchington Industrial Estate, Stubby Lane. Marchington, Uttoxeter, Staffordshire, ST14 8LP. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. (c) Disclosures in respect of share-based payments have not been presented. (d) No disclosure has been given for the aggregate remuneration of key management personnel.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

The entity has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under the law of any part of the United Kingdom.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% straight line
Fixtures and fittings	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured 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 the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 26 (2023: 18 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 January 2024	113,445	70,537	183,982
Additions	30,755	5,051	35,806
	---------	--------	---------
At 31 December 2024	144,200	75,588	219,788
	---------	--------	---------
Depreciation
At 1 January 2024	54,194	14,676	68,870
Charge for the year	32,529	18,172	50,701
	---------	--------	---------
At 31 December 2024	86,723	32,848	119,571
	---------	--------	---------
Carrying amount
At 31 December 2024	57,477	42,740	100,217
	---------	--------	---------
At 31 December 2023	59,251	55,861	115,112
	---------	--------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery
	£
At 31 December 2024	12,234
	--------
At 31 December 2023	–
	--------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	22,356
	--------
Impairment
At 1 January 2024 and 31 December 2024	–
	--------

Carrying amount
At 31 December 2024	22,356
	--------
At 31 December 2023	22,356
	--------

7. Debtors

	2024	2023
	£	£
Trade debtors	2,318,996	803,305
Amounts owed by group undertakings and undertakings in which the company has a participating interest	421,393	317,053
Other debtors	387,474	324,481
	------------	------------
	3,127,863	1,444,839
	------------	------------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	10,000	9,664
Trade creditors	473,220	439,304
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,865,020	1,875,884
Corporation tax	166,995	234,854
Social security and other taxes	15,563	11,115
Other creditors	379,434	173,697
	------------	------------
	2,910,232	2,744,518
	------------	------------

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	7,500	17,835
Other loans	250,000	250,000
Other creditors	6,081	–
	---------	---------
	263,581	267,835
	---------	---------

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	95,000	60,833
Later than 1 year and not later than 5 years	805,118	1,307,165
Later than 5 years	1,327,750	–
	------------	------------
	2,227,868	1,367,998
	------------	------------

11. Summary audit opinion

The auditor's report dated 24 September 2025 was unqualified .

The senior statutory auditor was Sandra Kay Lindley , for and on behalf of Lindley & Co .

12. Related party transactions

CTR (Fulfillment) Limited CTR (Fulfillment) Limited is a joint venture between CTR (Group) Limited and R Almond. At the balance sheet date there was an amount of £1,000,000 (2023 £1,071,500) due to this company. This amount is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand. Intercompany recharges from this company during the year amounted to £54,099 (2023 £nil). CTR (Group) Limited CTR (Group) Limited is an associated company which controls 50% of the issued share capital of CTR Asset Management Limited . At the balance sheet date there was an amount of £421,020 (2023 £421,020) due to this company. This amount is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand. CTR (Enviro) Limited CTR (Enviro} Limited is an associated company in which CTR (Group) Limited holds 100% of the issued share capital. At the balance sheet date there was an amount of £321,393 (2023 £315,022) due from this company. This amount is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand. Intercompany recharges to this company during the year amounted to £372,611 (2023 £320,179). CTR (Collections) Ltd CTR (Collections) Ltd is an associated company in which CTR (Group) Limited holds 100% of the issued share capital. At the balance sheet date there was an amount of £444,000 (2023 £182,445) due to this company. Sales to this company during the year amounted to £72,495 (2023 £3,963) Purchases and recharges from this company during the year amounted to £660,656 (2023 £137,405) CTR Recover Limited CTR Recover Limited is an associated company in which CTR (Group) Limited holds 100% of the issued share capital. At the balance sheet date there was an amount of £100,000 (2023 £nil) due from this company. This amount is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand. Salvatex Trading Limited Salvatex Trading Limited is a company controlled by R Almond. At the balance sheet date there was an amount of £nil (2023 £200,919) due to this company. Recharges and management charges in the period from this company amounted to £344,056 (2023 £654,433). Salvatex Holdings Limited Salvatex Holdings Limited is a company controlled by M Almond, the patent of R Almond. Puchases and recharges from this company in the period amounted to £49,854 (2023 £51,042) M Almond M Almond is the parent of R Almond. At the balance sheet date there was an amount of £250,000 (2023 £250,000) due to M Almond. The loan carries interest at the rate of 10% per annum, is unsecured and has no fixed term for repayment.

13. Ethical standards

Provisions Available for Small Entities have been applied and our auditors have assisted with the preparation of the financial statements and submission of returns to the tax authorities.

14. Controlling party

CTR Asset Management Limited is a joint venture between CTR (Group) Limited and R Almond, who each hold 50% of the issued share capital. These financial statements are included in the consolidated financial statements of CTR (Group) Limited, which can be found on Companies House.