REGISTERED NUMBER: 08971892 (England and Wales)

Report of the Director and

Unaudited Consolidated Financial Statements for the Year Ended 31 August 2024

for

Creative Network Partners Limited

Page

Report of the Director

1

Consolidated Income Statement

2

Consolidated Balance Sheet

3

Company Balance Sheet

5

Notes to the Consolidated Financial Statements

7

The director presents his report with the financial statements of the company and the group for the year ended 31 August 2024.

DIRECTOR

Mr L Lawson-O'Neil held office during the whole of the period from 1 September 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr L Lawson-O'Neil - Director

26 September 2025

TURNOVER

7,184,496

6,852,870

Cost of sales

3,029,664

2,817,837

GROSS PROFIT

4,154,832

4,035,033

Administrative expenses

3,954,658

3,179,066

200,174

855,967

Other operating income

12,146

102,727

OPERATING PROFIT

4

212,320

958,694

Gain/loss on revaluation of investment property

1,496,456

7,893,211

1,708,776

8,851,905

Interest payable and similar expenses

252,152

403,684

PROFIT BEFORE TAXATION

1,456,624

8,448,221

Tax on profit

5

313,973

2,188,114

PROFIT FOR THE FINANCIAL YEAR

1,142,651

6,260,107

Profit attributable to:

Owners of the parent

1,142,651

6,260,107

FIXED ASSETS

Intangible assets

7

(79,342

)

(79,342

)

Tangible assets

8

8,387,505

7,774,059

Investments

9

-

-

Investment property

10

22,300,000

19,590,000

30,608,163

27,284,717

CURRENT ASSETS

Debtors

11

1,865,425

3,584,376

Prepayments and accrued income

1,301,525

-

Cash at bank

17,167

570,975

3,184,117

4,155,351

CREDITORS

Amounts falling due within one year

12

4,342,927

3,458,822

NET CURRENT (LIABILITIES)/ASSETS

(1,158,810

)

696,529

TOTAL ASSETS LESS CURRENT LIABILITIES

29,449,353

27,981,246

CREDITORS

Amounts falling due after more than one year

13

(14,149,937

)

(14,138,458

)

PROVISIONS FOR LIABILITIES

14

(3,189,233

)

(2,875,260

)

NET ASSETS

12,110,183

10,967,528

CAPITAL AND RESERVES

Called up share capital

15

6

2

Retained earnings

12,110,177

10,967,526

SHAREHOLDERS' FUNDS

12,110,183

10,967,528

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

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

The financial statements were approved by the director and authorised for issue on 26 September 2025 and were signed by:

Mr L Lawson-O'Neil - Director

FIXED ASSETS

Intangible assets

7

-

-

Tangible assets

8

2,191,020

2,252,268

Investments

9

14,515

14,515

Investment property

10

5,900,000

4,390,000

8,105,535

6,656,783

CURRENT ASSETS

Debtors

11

23,499,219

23,333,169

Cash at bank

352

151

23,499,571

23,333,320

CREDITORS

Amounts falling due within one year

12

16,128,308

14,966,938

NET CURRENT ASSETS

7,371,263

8,366,382

TOTAL ASSETS LESS CURRENT LIABILITIES

15,476,798

15,023,165

CREDITORS

Amounts falling due after more than one year

13

(11,036,477

)

(11,454,935

)

PROVISIONS FOR LIABILITIES

14

(1,162,789

)

(700,223

)

NET ASSETS

3,277,532

2,868,007

CAPITAL AND RESERVES

Called up share capital

15

6

2

Retained earnings

3,277,526

2,868,005

SHAREHOLDERS' FUNDS

3,277,532

2,868,007

Company's profit for the financial year

409,521

2,285,906

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 26 September 2025 and were signed by:

Mr L Lawson-O'Neil - Director

1.	STATUTORY INFORMATION

Creative Network Partners Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08971892

Registered office:

Hackney Downs Studios

Amhurst Terrace

London

E8 2BT

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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold improvements

-

10% on cost

Plant and machinery

-

20% on cost

Fixtures, fittings and equipment

-

25% on cost and 10% on cost

Motor vehicles

-

33% on cost and 25% on cost

Computer equipment

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group'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 48 (2023 - 40 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.8.24

31.8.23

£

£

Depreciation - owned assets

781,643

595,233

5.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31.8.24

31.8.23

£

£

Deferred tax

313,973

2,188,114

Tax on profit

313,973

2,188,114

6.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

7.	INTANGIBLE FIXED ASSETS

Group

Goodwill

£

COST

At 1 September 2023

and 31 August 2024

(79,342

)

NET BOOK VALUE

At 31 August 2024

(79,342

)

At 31 August 2023

(79,342

)

8.	TANGIBLE FIXED ASSETS

Group

Short

Freehold

leasehold

Plant and

property

improvements

machinery

£

£

£

COST OR VALUATION

At 1 September 2023

1,510,000

3,341,751

108,974

Additions

-

3,505,507

20,525

Disposals

-

-

-

At 31 August 2024

1,510,000

6,847,258

129,499

DEPRECIATION

At 1 September 2023

-

1,375,794

89,356

Charge for year

-

289,758

9,713

Eliminated on disposal

-

-

-

At 31 August 2024

-

1,665,552

99,069

NET BOOK VALUE

At 31 August 2024

1,510,000

5,181,706

30,430

At 31 August 2023

1,510,000

1,965,957

19,618

Fixtures,

fittings

and

Motor

Computer

equipment

vehicles

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 September 2023

5,284,101

80,000

230,170

10,554,996

Additions

797,152

-

-

4,323,184

Disposals

(4,319,660

)

-

(230,170

)

(4,549,830

)

At 31 August 2024

1,761,593

80,000

-

10,328,350

DEPRECIATION

At 1 September 2023

1,149,511

36,000

130,276

2,780,937

Charge for year

474,172

8,000

-

781,643

Eliminated on disposal

(1,491,459

)

-

(130,276

)

(1,621,735

)

At 31 August 2024

132,224

44,000

-

1,940,845

NET BOOK VALUE

At 31 August 2024

1,629,369

36,000

-

8,387,505

At 31 August 2023

4,134,590

44,000

99,894

7,774,059

Cost or valuation at 31 August 2024 is represented by:

Short

Freehold

leasehold

Plant and

property

improvements

machinery

£

£

£

Valuation in 2023

389,439

-

-

Cost

1,120,561

6,847,258

129,499

1,510,000

6,847,258

129,499

Fixtures,

fittings

and

Motor

equipment

vehicles

Totals

£

£

£

Valuation in 2023

-

-

389,439

Cost

1,761,593

80,000

9,938,911

1,761,593

80,000

10,328,350

Company

Fixtures,

fittings

Freehold

and

property

equipment

Totals

£

£

£

COST OR VALUATION

At 1 September 2023

1,510,000

742,268

2,252,268

Additions

-

12,979

12,979

At 31 August 2024

1,510,000

755,247

2,265,247

DEPRECIATION

Charge for year

-

74,227

74,227

At 31 August 2024

-

74,227

74,227

NET BOOK VALUE

At 31 August 2024

1,510,000

681,020

2,191,020

At 31 August 2023

1,510,000

742,268

2,252,268

Cost or valuation at 31 August 2024 is represented by:

Fixtures,

fittings

Freehold

and

property

equipment

Totals

£

£

£

Valuation in 2023

389,440

-

389,440

Cost

1,120,560

755,247

1,875,807

1,510,000

755,247

2,265,247

9.	FIXED ASSET INVESTMENTS

Company

Shares in

group

undertakings

£

COST

At 1 September 2023

and 31 August 2024

14,515

NET BOOK VALUE

At 31 August 2024

14,515

At 31 August 2023

14,515

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

EatWorkArt Limited

Registered office: Hackney Downs Studios,Amhurst Terrace, London E8 2BT

Nature of business: Property management

%

Class of shares:

holding

Ordinary

100.00

31.8.24

31.8.23

£

£

Aggregate capital and reserves

16,154,145

14,460,534

Profit for the year

1,693,611

2,359,999

Creative Network Communications Limited

Registered office: Hackney Downs, Amhurst Terrace, London E8 2BT

Nature of business: Provision of office utilities and services

%

Class of shares:

holding

Ordinary

100.00

31.8.24

31.8.23

£

£

Aggregate capital and reserves

(9,671,498

)

(8,764,839

)

Loss for the year

(906,659

)

(1,606,897

)

Holetown Limited

Registered office: Hackney Downs, Amhurst Terrace, London E8 2BT

Nature of business: Event planning and farming activities

%

Class of shares:

holding

Ordinary

100.00

31.8.24

31.8.23

£

£

Aggregate capital and reserves

(1,084,971

)

(775,371

)

Loss for the year

(309,600

)

(128,865

)

KHH Limited

Registered office: Hackney Downs, Amhurst Terrace, London E8 2BT

Nature of business: Property management

%

Class of shares:

holding

Ordinary

100.00

31.8.24

31.8.23

£

£

Aggregate capital and reserves

181,468

202,422

Loss for the year

(20,954

)

(40,547

)

EatWorkArt Investments Limited

Registered office: Hackney Downs Studios,Amhurst Terrace, London,E8 2BT

Nature of business: Property management

%

Class of shares:

holding

Ordinary

100.00

31.8.24

31.8.23

£

£

Aggregate capital and reserves

(237,768

)

1,974,213

Profit for the year

1,735,845

1,973,613

Sunbury Workshops Holdings Limited

Registered office: Hackney Downs Studios,Amhurst Terrace, London,E8 2BT

Nature of business: Property management

%

Class of shares:

holding

Ordinary

100.00

31.8.24

31.8.23

£

£

Aggregate capital and reserves

1,930,393

1,415,470

Profit for the year/period

514,923

1,415,469

Armada Way Limited

Registered office: Hackney Downs Studios,Amhurst Terrace, London,E8 2BT

Nature of business: Property management

%

Class of shares:

holding

Ordinary

100.00

31.8.24

31.8.23

£

£

Aggregate capital and reserves

(419

)

1

Loss for the year/period

(420

)

-

Netil House Limited

Registered office: Hackney Downs Studios,Amhurst Terrace, London,E8 2BT

Nature of business: Property management

%

Class of shares:

holding

Ordinary

100.00

31.8.24

31.8.23

£

£

Aggregate capital and reserves

1

1