Cilix Ltd
Registered number: 05101039
Statement of Financial Position
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 96,378 20,266
Current assets
Stocks 2,060 3,295
Debtors 4 82,186 65,686
Cash at bank and in hand 115,482 145,264
199,728 214,245
Creditors: amounts falling due within one year 5 (150,891) (100,743)
Net current assets 48,837 113,502
Total assets less current liabilities 145,215 133,768
Provisions for liabilities (12,824) (4,956)
Net assets 132,391 128,812
Capital and reserves
Called up share capital 100 100
Profit and loss account 132,291 128,712
Shareholders' funds 132,391 128,812
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Connolly
Director
Approved by the board on 12 September 2024
Cilix Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment 25% reducing balance
Computer equipment 25% reducing balance
Motor vehicles 25% reducing balance
Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 8 8
3 Tangible fixed assets
Motor vehicles Fixtures, fittings and equipment Computer equipment Total
£ £ £ £
Cost
At 1 April 2023 - 5,767 25,147 30,914
Additions 29,500 1,802 68,613 99,915
Disposals - (806) (486) (1,292)
At 31 March 2024 29,500 6,763 93,274 129,537
Depreciation
At 1 April 2023 - 2,860 7,788 10,648
Charge for the year 615 1,026 21,472 23,113
On disposals - (202) (400) (602)
At 31 March 2024 615 3,684 28,860 33,159
Net book value
At 31 March 2024 28,885 3,079 64,414 96,378
At 31 March 2023 - 2,907 17,359 20,266
4 Debtors 2024 2023
£ £
Trade debtors 79,414 63,751
Prepayments 1,839 1,357
Accrued income 262 178
Other debtors 671 400
82,186 65,686
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 56,638 17,237
Accruals 58,579 40,773
Corporation tax 8,393 11,413
Other taxes and social security costs 20,360 24,513
Other creditors 6,921 6,807
150,891 100,743
6 Other information
Cilix Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Old Bakery Mews
156b Rectory Road
Farnborough
Hampshire
GU14 8AL
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