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REGISTERED NUMBER: 05319291 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

JIM AIM MOTORCYCLES LIMITED

JIM AIM MOTORCYCLES LIMITED (REGISTERED NUMBER: 05319291)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JIM AIM MOTORCYCLES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: Mrs S A Aim
A N Aim
I J Aim
J Botting





SECRETARY: I J Aim





REGISTERED OFFICE: 144 Rayne Road
Braintree
Essex
CM7 2QS





REGISTERED NUMBER: 05319291 (England and Wales)





ACCOUNTANTS: Seago and Stopps
Chartered Certified Accountants
61 Station Road
Sudbury
Suffolk
CO10 2SP

JIM AIM MOTORCYCLES LIMITED (REGISTERED NUMBER: 05319291)

BALANCE SHEET
31 JANUARY 2023

31.1.22 31.1.23
£    £    Notes £    £   
FIXED ASSETS
6,645 Intangible assets 4 1,613
129,041 Tangible assets 5 116,716
135,686 118,329

CURRENT ASSETS
975,385 Stocks 1,120,488
112,155 Debtors 6 146,043
665,896 Cash at bank and in hand 719,996
1,753,436 1,986,527
CREDITORS
961,105 Amounts falling due within one year 7 1,142,209
792,331 NET CURRENT ASSETS 844,318
928,017 TOTAL ASSETS LESS CURRENT
LIABILITIES

962,647

CREDITORS
(39,459 ) Amounts falling due after more than one
year

8

(29,167

)

(8,781 ) PROVISIONS FOR LIABILITIES (8,063 )
879,777 NET ASSETS 925,417

CAPITAL AND RESERVES
100 Called up share capital 100
879,677 Retained earnings 925,317
879,777 SHAREHOLDERS' FUNDS 925,417

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

JIM AIM MOTORCYCLES LIMITED (REGISTERED NUMBER: 05319291)

BALANCE SHEET - continued
31 JANUARY 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2023 and were signed on its behalf by:




I J Aim - Director



A N Aim - Director


JIM AIM MOTORCYCLES LIMITED (REGISTERED NUMBER: 05319291)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Jim Aim Motorcycles 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents the value of work completed during the year, by reference to invoiced sales and the movement between opening and closing trade debtor balances.

Goodwill
Goodwill, being the amount paid in connection with the acquistion of a business in 2005, has been amortised evenly over its estimated useful life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - in accordance with the property
Plant and equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

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

Financial instruments
The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statements such as trade and other accounts receivable and payable, bank loans and hire purchase and lease contracts.


JIM AIM MOTORCYCLES LIMITED (REGISTERED NUMBER: 05319291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by 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 year 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Totals Goodwill Website
£    £    £   
COST
At 1 February 2022 79,935 60,000 19,935
Additions 2,420 - 2,420
At 31 January 2023 82,355 60,000 22,355
AMORTISATION
At 1 February 2022 73,290 60,000 13,290
Amortisation for year 7,452 - 7,452
At 31 January 2023 80,742 60,000 20,742
NET BOOK VALUE
At 31 January 2023 1,613 - 1,613
At 31 January 2022 6,645 - 6,645

JIM AIM MOTORCYCLES LIMITED (REGISTERED NUMBER: 05319291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

5. TANGIBLE FIXED ASSETS
Long Plant and Motor Office
Totals leasehold equipment vehicles equipment
£    £    £    £    £   
COST
At 1 February 2022 235,239 154,927 25,923 39,735 14,654
Additions 6,038 - 3,636 - 2,402
Disposals (417 ) - - - (417 )
At 31 January 2023 240,860 154,927 29,559 39,735 16,639
DEPRECIATION
At 1 February 2022 106,198 50,125 21,878 23,419 10,776
Charge for year 18,231 10,690 1,921 4,079 1,541
Eliminated on disposal (285 ) - - - (285 )
At 31 January 2023 124,144 60,815 23,799 27,498 12,032
NET BOOK VALUE
At 31 January 2023 116,716 94,112 5,760 12,237 4,607
At 31 January 2022 129,041 104,802 4,045 16,316 3,878

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 54,383 23,470
Other debtors 91,660 88,685
146,043 112,155

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 10,000 17,396
Hire purchase contracts (see note 9) 292 3,500
Trade creditors 987,238 769,677
Taxation and social security 69,845 86,024
Other creditors 74,834 84,508
1,142,209 961,105

JIM AIM MOTORCYCLES LIMITED (REGISTERED NUMBER: 05319291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans 29,167 39,167
Hire purchase contracts (see note 9) - 292
29,167 39,459

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.1.23 31.1.22
£    £   
Net obligations repayable:
Within one year 292 3,500
Between one and five years - 292
292 3,792

Non-cancellable operating leases
31.1.23 31.1.22
£    £   
Within one year 60,000 60,000
Between one and five years 240,000 240,000
In more than five years 230,000 290,000
530,000 590,000

The company has entered into a lease rental agreement for its business premises at an annual rental of £60,000. The lease expires in November 2031.