REGISTERED NUMBER: 04180005

CELTIC RECOVERY LIMITED

Unaudited Financial Statements

for the Period 1 June 2024 to 30 May 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J M Wall

A J Wall

SECRETARY:

J M Wall

REGISTERED OFFICE:

Elfed House

Oak Tree Court, Mulberry Drive

Cardiff Gate Business Park

CARDIFF

CF23 8RS

REGISTERED NUMBER:

04180005

ACCOUNTANTS:

MHA (trading name of MHA Advisory Ltd)

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

FIXED ASSETS

Tangible assets

4

341,521

469,527

CURRENT ASSETS

Stocks

21,484

21,218

Debtors

5

1,839,650

1,935,549

Cash at bank and in hand

68

1,168

1,861,202

1,957,935

CREDITORS

Amounts falling due within one year

6

(1,914,146

)

(1,706,214

)

NET CURRENT (LIABILITIES)/ASSETS

(52,944

)

251,721

TOTAL ASSETS LESS CURRENT LIABILITIES

288,577

721,248

CREDITORS

Amounts falling due after more than one year

7

(119,443

)

(183,941

)

PROVISIONS FOR LIABILITIES

-

(71,926

)

NET ASSETS

169,134

465,381

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

169,034

465,281

SHAREHOLDERS' FUNDS

169,134

465,381

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 May 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 May 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 27 May 2026 and were signed on its behalf by:

J M Wall - Director

1.	STATUTORY INFORMATION

Celtic Recovery Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's functional and presentational currency in the financial statements is Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

There have been no material departures from the Financial Reporting Standard 102 1A

Turnover

Turnover represents amounts billed and billable in respect of vehicle recovery and repair services provided, excluding value added tax.

Tangible fixed assets

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

Improvements to property

-

2% & 10% on cost

Plant and machinery

-

20% on cost

Office equipment

-

10 - 33% on cost

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and selling price, after making due allowance for obsolete and slow moving items.

Taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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 period 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.

Hire purchase

Assets obtained under hire purchase contracts are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Non-derivative financial instruments

Basic financial instruments are recognised at amortised cost.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 22 (2024 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Office

Motor

property

machinery

equipment

vehicles

Totals

£

£

£

£

£

COST

At 1 June 2024

154,664

82,894

22,200

687,710

947,468

Disposals

-

-

-

(136,995

)

(136,995

)

At 30 May 2025

154,664

82,894

22,200

550,715

810,473

DEPRECIATION

At 1 June 2024

20,891

82,813

21,799

352,438

477,941

Charge for period

3,093

57

401

80,431

83,982

Eliminated on disposal

-

-

-

(92,971

)

(92,971

)

At 30 May 2025

23,984

82,870

22,200

339,898

468,952

NET BOOK VALUE

At 30 May 2025

130,680

24

-

210,817

341,521

At 31 May 2024

133,773

81

401

335,272

469,527

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

527,370

584,742

Other debtors

78,456

50,677

Amount due from company under common control

939,973

1,038,519

Directors' current account

232,463

150,155

VAT

-

11,054

Prepayments and accrued income

61,388

100,402

1,839,650

1,935,549

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

4,454

47,847

Hire purchase contracts

64,498

150,230

Trade creditors

37,788

34,969

Corporation tax

116,741

150,994

Social security and other taxes

33,012

18,161

VAT

49,874

-

Amount owed to company under common control

1,596,341

1,293,269

Accruals and deferred income

11,438

10,744

1,914,146

1,706,214

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

119,443

183,941

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

-

27,872

Hire purchase contracts

183,941

334,171

183,941

362,043

The bank debt is secured by way of fixed and floating charges over the company's assets.

The hire purchase liability is secured on the associated fixed asset.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 May 2025 and the year ended 31 May 2024:

2025

2024

£

£

J M Wall

Balance outstanding at start of period

150,155

-

Amounts advanced

165,316

156,393

Amounts repaid

(83,008

)

(6,238

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

232,463

150,155

Interest has been charged at a commercial rate on overdrawn balances during the year.