Company registration number 00547046 (England and Wales)
Credenhill Limited
Financial Statements
For the year ended 31 December 2025
Credenhill Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 9
Credenhill Limited
Balance Sheet
As at 31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
134,119
24,924
Tangible assets
5
100,825
150,317
Investment property
6
250,000
250,000
484,944
425,241
Current assets
Stocks
699,443
602,940
Debtors
7
2,030,749
1,725,528
Cash at bank and in hand
877,901
1,083,469
3,608,093
3,411,937
Creditors: amounts falling due within one year
8
(2,162,569)
(2,103,272)
Net current assets
1,445,524
1,308,665
Total assets less current liabilities
1,930,468
1,733,906
Provisions for liabilities
(49,138)
(50,548)
Net assets
1,881,330
1,683,358
Capital and reserves
Called up share capital
9
5,000
5,000
Revaluation reserve
191,222
191,222
Profit and loss reserves
1,685,108
1,487,136
Total equity
1,881,330
1,683,358

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

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

The financial statements were approved by the board of directors and authorised for issue on 3 June 2026 and are signed on its behalf by:
P A Grove
Director
Company registration number 00547046 (England and Wales)
Credenhill Limited
Notes to the financial statements
For the year ended 31 December 2025
- 2 -
1
Accounting policies
Company information

Credenhill Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 5 Heritage House, Soloman Road, Cossall Industrial Estate, Ilkeston, Derbyshire, DE7 5UD.

1.1
Basis of preparation

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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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, modified to include the investment property at fair value. 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 and services 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.

Turnover 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 despatch 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
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
33% Straight line
Credenhill Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
- 3 -
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
1% Straight line and over the period of the lease
Plant and Machinery etc
33% / 20% Straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.7
Stocks

Stocks 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 stocks to their present location and condition. Cost is determined using the first-in, first-out (FIFO) method.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks 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.

1.8
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.

Credenhill Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
- 4 -
1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
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.

1.11
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.

Credenhill Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
- 5 -
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.

1.12
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.13
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.

1.14
Retirement benefits

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

1.15
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.16
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.

Credenhill Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
- 6 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty
Impairment of stock

The company's products are subject to changing market demand. It is therefore necessary to consider on a periodic basis the recoverability of the cost of stocks and associated impairment. The company calculates impairments by considering the nature and condition of stocks and applies assumptions around anticipated saleability of finished goods.

Investment property valuation

The valuation of the investment properties is inherently subjective due to the use of assumptions that are not based on observable market data. Investment properties are measured at fair value, with changes recognised in profit or loss. The fair values are determined by management, with reference to independent professionally qualified valuers where appropriate, using recognised valuation techniques such as discounted cash flow models and income capitalisation methods.

Key inputs to these valuations include estimated rental values, void periods, future rental growth, discount rates, capitalisation yields, and comparable market transactions. These inputs are influenced by prevailing market conditions, including interest rates, inflation expectations, and the supply and demand for comparable properties.

There is a significant degree of judgement involved in selecting and applying these assumptions. Small changes in key inputs, particularly discount rates and capitalisation yields, could have a material impact on the carrying value of investment properties and the resulting fair value gains or losses recognised in the period.

The company reviews its property valuations at each reporting date. However, given the inherent uncertainty and the sensitivity of valuations to key assumptions, actual outcomes could differ from those estimates, and such differences may be material.

3
Employees

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

2025
2024
Number
Number
Total
48
47
Credenhill Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
- 7 -
4
Intangible fixed assets
Software
£
Cost
At 1 January 2025
545,034
Additions
138,353
At 31 December 2025
683,387
Amortisation and impairment
At 1 January 2025
520,110
Amortisation charged for the year
29,158
At 31 December 2025
549,268
Carrying amount
At 31 December 2025
134,119
At 31 December 2024
24,924
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2025
275,462
475,303
750,765
Additions
-
0
19,466
19,466
At 31 December 2025
275,462
494,769
770,231
Depreciation and impairment
At 1 January 2025
249,000
351,448
600,448
Depreciation charged in the year
11,344
57,614
68,958
At 31 December 2025
260,344
409,062
669,406
Carrying amount
At 31 December 2025
15,118
85,707
100,825
At 31 December 2024
26,462
123,855
150,317
Credenhill Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
- 8 -
6
Investment property
2025
£
Fair value
At 1 January 2025 and 31 December 2025
250,000

The fair values of the investment property were reviewed by the directors at 31 December 202 5. The fair values have been determined by carrying out a review of the property and investment yields in the area and are further supported by by independent valuations carried out at 12 March 2025, which were carried out in accordance with RICS and have been considered by the directors in establishing their fair values as at 31 December 202 5. The property was valued at £250,000.

During the prior year, land and building which had previously been used for the purpose of the trade of the company was rented out as an investment property since the company has now moved into a larger warehouse on the same industrial estate. The reason that the unit owned by the company was not sold is that the planned growth of the company may, additionally require the use of the old premises in the future.

If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2025
2024
£
£
Cost
78,198
78,198
Accumulated depreciation
(25,831)
(25,051)
Carrying amount
52,367
53,147
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,841,757
1,532,496
Other debtors
188,992
193,032
2,030,749
1,725,528
8
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
1,507,925
1,393,865
Taxation and social security
417,199
366,214
Other creditors
237,445
343,193
2,162,569
2,103,272
Credenhill Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
- 9 -
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
5,000
5,000
5,000
5,000
10
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 is unqualified and includes the following:

Senior Statutory Auditor:
Gavin Booth
Statutory Auditor:
DJH Audit Limited
11
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Within 1 year
80,000
80,000
Years 2-5
20,000
100,000
Total commitments
100,000
180,000
Lessor

At the reporting date the company had contracted with tenants for the following minimum lease payments:

2025
2024
£
£
Within 1 year
20,004
20,004
Years 2-5
11,669
30,006
Total commitments
31,673
50,010
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