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REGISTERED NUMBER: 02932301 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 October 2022

for

CIPAM Limited

CIPAM Limited (Registered number: 02932301)






Contents of the Financial Statements
for the Year Ended 31 October 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CIPAM Limited

Company Information
for the Year Ended 31 October 2022







DIRECTOR: Mr S Bishay





REGISTERED OFFICE: Salford Innovations Forum
Office 216
51 Frederick Road
Salford
Manchester
M6 6FP





REGISTERED NUMBER: 02932301 (England and Wales)





ACCOUNTANTS: Freedman Frankl & Taylor
Chartered Accountants
Reedham House
31 King Street West
Manchester
M3 2PJ

CIPAM Limited (Registered number: 02932301)

Statement of Financial Position
31 October 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,654 4,522

CURRENT ASSETS
Stocks 22,822 -
Debtors 5 583,953 939,241
Cash at bank 120,571 11,505
727,346 950,746
CREDITORS
Amounts falling due within one year 6 465,823 695,640
NET CURRENT ASSETS 261,523 255,106
TOTAL ASSETS LESS CURRENT
LIABILITIES

265,177

259,628

CREDITORS
Amounts falling due after more than one year 7 (60,224 ) (32,044 )

PROVISIONS FOR LIABILITIES (681 ) (1,047 )
NET ASSETS 204,272 226,537

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 204,172 226,437
SHAREHOLDERS' FUNDS 204,272 226,537

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CIPAM Limited (Registered number: 02932301)

Statement of Financial Position - continued
31 October 2022


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 director and authorised for issue on 9 April 2024 and were signed by:





Mr S Bishay - Director


CIPAM Limited (Registered number: 02932301)

Notes to the Financial Statements
for the Year Ended 31 October 2022

1. STATUTORY INFORMATION

CIPAM 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 10% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are initially recorded at cost less accumulated depreciation and accumulated impairment losses.

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

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

CIPAM Limited (Registered number: 02932301)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

2. ACCOUNTING POLICIES - continued

Going concern
The company's financial statements for the year ended 31 October 2022 have been prepared on a going concern basis as, after making appropriate enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 November 2021
and 31 October 2022 6,970 1,325 9,310 17,605
DEPRECIATION
At 1 November 2021 4,571 1,170 7,342 13,083
Charge for year 360 16 492 868
At 31 October 2022 4,931 1,186 7,834 13,951
NET BOOK VALUE
At 31 October 2022 2,039 139 1,476 3,654
At 31 October 2021 2,399 155 1,968 4,522

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 149,132 447,561
Other debtors 434,821 491,680
583,953 939,241

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts - 13,362
Trade creditors 182,228 204,947
Amounts owed to group undertakings 162,381 -
Taxation and social security 39,205 53,872
Other creditors 82,009 423,459
465,823 695,640

CIPAM Limited (Registered number: 02932301)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Other creditors 60,224 32,044

8. RELATED PARTY DISCLOSURES

Included within other creditors is the director's current account balance of £677 (2021: £690). There are no fixed repayment terms and no interest is chargeable to the company in respect of this balance.

During the year, the company had sales of £nil (2021: £190,045) to an entity in which the director of the company has a material interest. At 31 October 2022, there was £627,033 (2021: £657,780) due from this entity.

At 31 October 2022, there were balances amounting to £50,791 (2021: £66,788) due to entities in which the director of the company has a material interest. The balances are interest free and repayable on demand.