Creek Transport Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Creek Transport Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06613626 . The registered office is Suite 1, The Old Dairy, Elm Farm Buisness Park, Norwich Common, Wymondham, Norfolk, NR18 0SW.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% Reducing balance
Motor Vehicles	25% Reducing balance
Fixtures & Fittings	25% Reducing balance
Computer Equipment	25% Reducing balance

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Financial Instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans from banks or other related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables are measure, initially and subsquentially, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing trasaction, like the payment of a trade debt deferred beyond the normal business terms or financed at a rate of interest that is not market rate or in the case of an outright short-term loan not a market rate, the financial asset or liability is measured, initially and subsquentially, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

...CONTINUED

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Creek Transport Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.5. Financial Instruments - continued

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount for the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

2.6. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.7. Impairment

At each reporting date, goodwill and other tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 12 (2024: 19)

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Creek Transport Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 September 2024	60,075	296,063	13,181	11,626	380,945
Additions	-	12,000	-	-	12,000
Disposals	(55,900 )	(68,745 )	-	-	(124,645 )

As at 31 August 2025	4,175	239,318	13,181	11,626	268,300

Depreciation
As at 1 September 2024	29,907	154,855	9,896	6,484	201,142
Provided during the period	676	31,052	813	1,419	33,960
Disposals	(27,279 )	(39,743 )	-	-	(67,022 )

As at 31 August 2025	3,304	146,164	10,709	7,903	168,080

Net Book Value
As at 31 August 2025	871	93,154	2,472	3,723	100,220

As at 1 September 2024	30,168	141,208	3,285	5,142	179,803

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2025	2024
	£	£
Plant & Machinery	-	28,621
Motor Vehicles	84,155	141,209

	84,155	169,830

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,065,278	858,844
Prepayments and accrued income	14,554	3,144
Other debtors	146,487	250,332

	1,226,319	1,112,320

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Creek Transport Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	37,922	88,477
Trade creditors	907,569	718,006
Bank loans and overdrafts	106,182	93,875
Corporation tax	84,359	49,062
Other taxes and social security	6,425	14,689
VAT	111,693	126,777
Misc creditors	1,003	1,387
Accruals and deferred income	3,076	3,395
Director's loan account	600	4,677

	1,258,829	1,100,345

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	13,417	66,768
Bank loans	80,011	178,193

	93,428	244,961

8. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	37,922	88,477
Later than one year and not later than five years	13,417	66,768

	51,339	155,245

	51,339	155,245

9. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 September 2024	34,163	34,163
Utilised	(9,108 )	(9,108)

Balance at 31 August 2025	25,055	25,055

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	4	4

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Creek Transport Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

11. Related Party Transactions

D5 Holdings Liimited

Parent Company

In the year under review D5 Holdings Limited charged Creek Transport Limited management fees totalling £92,400 (2024: £32,000). A balance of £137,897 was owed to Creek Transport Limited (2024: £238,197). No interest is charged on the loan.

D5 Sports Limited

Under common control

In the year under review a balance owing to Creek Transport Ltd from D5 Sports Limited amounting to £3,545 was written off. There was no balance owing as at 31 August 2025 (2024 - £3,545).

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		100,220		179,803

			100,220		179,803
CURRENT ASSETS
Debtors	5	1,226,319		1,112,320
Cash at bank and in hand		57,050		90,293

		1,283,369		1,202,613
Creditors: Amounts Falling Due Within One Year	6	(1,258,829 )		(1,100,345 )

NET CURRENT ASSETS (LIABILITIES)			24,540		102,268

TOTAL ASSETS LESS CURRENT LIABILITIES			124,760		282,071

Creditors: Amounts Falling Due After More Than One Year	7		(93,428 )		(244,961 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(25,055 )		(34,163 )

NET ASSETS			6,277		2,947

CAPITAL AND RESERVES
Called up share capital	10		4		4
Profit and Loss Account			6,273		2,943

SHAREHOLDERS' FUNDS			6,277		2,947