Creative Resins Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03765974

Creative Resins Ltd

Filleted Unaudited Financial Statements

31 July 2025

Creative Resins Ltd

Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Creative Resins Ltd

Year ended 31 July 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Creative Resins Ltd for the year ended 31 July 2025, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the Board of Directors of Creative Resins Ltd, as a body, in accordance with the terms of our engagement letter dated 23 October 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Creative Resins Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Creative Resins Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Creative Resins Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Creative Resins Ltd. You consider that Creative Resins Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Creative Resins Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

TURPIN BARKER ARMSTRONG Chartered Certified Accountants

Allen House 1 Westmead Road Sutton Surrey SM1 4LA

16 December 2025

Creative Resins Ltd

Statement of Financial Position

31 July 2025

	2025		2024
			(restated)
Note	£	£	£

Fixed assets

Intangible assets	5	6,739	22,738
Tangible assets	6	87,772	53,040
		--------	--------
		94,511	75,778

Current assets

Stocks		35,000	35,500
Debtors	7	301,658	410,934
Cash at bank and in hand		434,504	560,135
		---------	------------
		771,162	1,006,569

Creditors: amounts falling due within one year	8	427,137		397,864
		---------		------------
Net current assets			344,025	608,705
			---------	---------
Total assets less current liabilities			438,536	684,483

Creditors: amounts falling due after more than one year	9		–	18,333

Provisions

Taxation including deferred tax	13,260	13,260
	---------	---------
Net assets	425,276	652,890
	---------	---------

Capital and reserves

Called up share capital	34	100
Capital redemption reserve	66	–
Profit and loss account	425,176	652,790
	---------	---------
Shareholders funds	425,276	652,890
	---------	---------

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 comprehensive income has not been delivered.

Creative Resins Ltd

Statement of Financial Position (continued)

31 July 2025

For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 16 December 2025 , and are signed on behalf of the board by:

Mr Munoz-Bangle	Mr C Sumner
Director	Director

Company registration number: 03765974

Creative Resins Ltd

Notes to the Financial Statements

Year ended 31 July 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Allen House, 1 Westmead Road, Sutton, Surrey, SM1 4LA, United Kingom.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Patents and licences	-	20% straight line
Development	-	20% straight line
Website	-	33 % straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Short leasehold property	-	15% reducing balance
Plant and machinery	-	15% reducing balance
Fixture and fittings	-	20% reducing balance
Motor vehicles	-	25% reducing balance

	Office equipment	-	25% straight line

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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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.

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 company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. 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. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2024: 7 ).

5. Intangible assets

	Patents, trademarks and licences	Intangible asset user defined 1	Intangible asset user defined 2	Total
	£	£	£	£
Cost
At 1 August 2024 (as restated) and 31 July 2025	12,496	407,996	25,925	446,417
	--------	---------	--------	---------
Amortisation
At 1 August 2024	11,452	386,302	25,925	423,679
Charge for the year	432	15,567	–	15,999
	--------	---------	--------	---------
At 31 July 2025	11,884	401,869	25,925	439,678
	--------	---------	--------	---------
Carrying amount
At 31 July 2025	612	6,127	–	6,739
	--------	---------	--------	---------
At 31 July 2024	1,044	21,694	–	22,738
	--------	---------	--------	---------

6. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Aug 2024 (as restated)	20,734	134,880	22,780	16,945	9,364	204,703
Additions	–	11,376	–	42,812	–	54,188
	--------	---------	--------	--------	-------	---------
At 31 Jul 2025	20,734	146,256	22,780	59,757	9,364	258,891
	--------	---------	--------	--------	-------	---------
Depreciation
At 1 Aug 2024	20,734	87,608	19,905	14,328	9,088	151,663
Charge for the year	–	8,797	575	9,992	92	19,456
	--------	---------	--------	--------	-------	---------
At 31 Jul 2025	20,734	96,405	20,480	24,320	9,180	171,119
	--------	---------	--------	--------	-------	---------
Carrying amount
At 31 Jul 2025	–	49,851	2,300	35,437	184	87,772
	--------	---------	--------	--------	-------	---------
At 31 Jul 2024	–	47,272	2,875	2,617	276	53,040
	--------	---------	--------	--------	-------	---------

7. Debtors

	2025	2024
		(restated)
	£	£
Trade debtors	106,020	259,424
Other debtors	195,638	151,510
	---------	---------
	301,658	410,934
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
		(restated)
	£	£
Bank loans and overdrafts	18,333	20,000
Trade creditors	291,244	203,993
Corporation tax	49,032	81,406
Social security and other taxes	22,644	35,443
Other creditors	45,884	57,022
	---------	---------
	427,137	397,864
	---------	---------

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

	2025	2024
		(restated)
	£	£
Bank loans and overdrafts	–	18,333
	----	--------

10. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr Munoz-Bangle	23,523	588	–	24,111
Mr C Sumner	102,722	40,487	( 143,209)	–
Mr P Sumner	23,523	588	–	24,111
	---------	--------	---------	--------
	149,768	41,663	( 143,209)	48,222
	---------	--------	---------	--------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr Munoz-Bangle	21,804	1,718	–	23,522
Mr C Sumner	68,881	33,841	–	102,722
Mr P Sumner	21,805	1,719	–	23,524
	---------	--------	----	---------
	112,490	37,278	–	149,768
	---------	--------	----	---------

11. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
Mr P Sumner	–	–	143,209	–
	----	----	---------	----