Creative Goods Merchandising Limited
Financial Statements
For the year ended 29 December 2024
Pages for Filing with Registrar
Company Registration No. 10739148 (England and Wales)
Creative Goods Merchandising Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 6
Creative Goods Merchandising Limited
Balance Sheet
As at 29 December 2024
Page 1
2024
2023
Notes
£
£
£
£
Current assets
Stock
660,470
247,107
Debtors
3
363,605
174,510
Cash at bank and in hand
794,649
549,584
1,818,724
971,201
Creditors: amounts falling due within one year
4
(954,015)
(640,739)
Net current assets
864,709
330,462
Capital and reserves
Called up share capital
5
10,000
10,000
Profit and loss reserves
854,709
320,462
Total equity
864,709
330,462

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved and signed by the director and authorised for issue on 8 April 2026
P Milano
Director
Company Registration No. 10739148
Creative Goods Merchandising Limited
Notes to the Financial Statements
For the year ended 29 December 2024
Page 2
1
Accounting policies
Company information

Creative Goods Merchandising Limited is a private company limited by shares incorporated in England and Wales. The registered office is Charlotte Building, 17 Gresse Street, London, United Kingdom, W1T 1QL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Stock

Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.

Stock held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has only basic financial instruments measured at amortised cost, with no financial instruments classified as other, or basic instruments measured at fair value.

Creative Goods Merchandising Limited
Notes to the Financial Statements (Continued)
For the year ended 29 December 2024
1
Accounting policies
(Continued)
Page 3
1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Creative Goods Merchandising Limited
Notes to the Financial Statements (Continued)
For the year ended 29 December 2024
1
Accounting policies
(Continued)
Page 4
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
5
3
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
246,996
75,587
Amounts owed by group undertakings
34,688
-
0
Other debtors
81,921
98,923
363,605
174,510
Creative Goods Merchandising Limited
Notes to the Financial Statements (Continued)
For the year ended 29 December 2024
Page 5
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
628,476
432,655
Amounts due to group undertakings
65,089
133,063
Corporation tax
178,248
17,932
Other taxation and social security
66,202
41,089
Other creditors
16,000
16,000
954,015
640,739
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of £100 each
100
100
10,000
10,000
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Creative Goods Merchandising Limited
Notes to the Financial Statements (Continued)
For the year ended 29 December 2024
6
Audit report information
(Continued)
Page 6
The senior statutory auditor was Mark Twum-Ampofo.
The auditor was Moore Kingston Smith LLP.
7
Related party transactions
Transactions with related parties

The company has taken the exemption available under FRS102 section 33 and not disclosed transactions with 100% group companies.

8
Parent company

The immediate and ultimate parent undertaking is Creative Goods Merchandising LLC, a company incorporated in the USA, by virtue of its ownership of 100% of the issued share capital in the company.

The address of Creative Goods Merchandising LLC is 213 W. 40th Street, 6th Floor, New York, New York 10018

There is no single ultimate controlling party.

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