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REGISTERED NUMBER: 05319291 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

JIM AIM MOTORCYCLES LIMITED

JIM AIM MOTORCYCLES LIMITED (REGISTERED NUMBER: 05319291)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




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 2024







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 2024

31.1.23 31.1.24
£    £    Notes £    £   
FIXED ASSETS
1,613 Intangible assets 4 806
116,716 Tangible assets 5 105,408
118,329 106,214

CURRENT ASSETS
1,120,488 Stocks 1,211,706
146,043 Debtors 6 115,070
719,996 Cash at bank and in hand 674,148
1,986,527 2,000,924
CREDITORS
1,142,209 Amounts falling due within one year 7 1,116,004
844,318 NET CURRENT ASSETS 884,920
962,647 TOTAL ASSETS LESS CURRENT
LIABILITIES

991,134

CREDITORS
(29,167 ) Amounts falling due after more than one
year

8

(19,167

)

(8,063 ) PROVISIONS FOR LIABILITIES (9,119 )
925,417 NET ASSETS 962,848

JIM AIM MOTORCYCLES LIMITED (REGISTERED NUMBER: 05319291)

BALANCE SHEET - continued
31 JANUARY 2024

31.1.23 31.1.24
£    £    Notes £    £   
CAPITAL AND RESERVES
100 Called up share capital 100
925,317 Retained earnings 962,748
925,417 SHAREHOLDERS' FUNDS 962,848

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2024 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 2024

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 2024

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 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Totals Goodwill Website
£    £    £   
COST
At 1 February 2023
and 31 January 2024 82,355 60,000 22,355
AMORTISATION
At 1 February 2023 80,742 60,000 20,742
Amortisation for year 807 - 807
At 31 January 2024 81,549 60,000 21,549
NET BOOK VALUE
At 31 January 2024 806 - 806
At 31 January 2023 1,613 - 1,613

JIM AIM MOTORCYCLES LIMITED (REGISTERED NUMBER: 05319291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. TANGIBLE FIXED ASSETS
Long Plant and Motor Office
Totals leasehold equipment vehicles equipment
£    £    £    £    £   
COST
At 1 February 2023 240,860 154,927 29,559 39,735 16,639
Additions 5,856 3,596 - - 2,260
At 31 January 2024 246,716 158,523 29,559 39,735 18,899
DEPRECIATION
At 1 February 2023 124,144 60,815 23,799 27,498 12,032
Charge for year 17,164 10,938 1,445 3,060 1,721
At 31 January 2024 141,308 71,753 25,244 30,558 13,753
NET BOOK VALUE
At 31 January 2024 105,408 86,770 4,315 9,177 5,146
At 31 January 2023 116,716 94,112 5,760 12,237 4,607

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 18,473 54,383
Other debtors 96,597 91,660
115,070 146,043

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) - 292
Trade creditors 967,014 987,238
Taxation and social security 45,428 69,845
Other creditors 93,562 74,834
1,116,004 1,142,209

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 19,167 29,167

JIM AIM MOTORCYCLES LIMITED (REGISTERED NUMBER: 05319291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.1.24 31.1.23
£    £   
Net obligations repayable:
Within one year - 292

Non-cancellable operating leases
31.1.24 31.1.23
£    £   
Within one year 60,000 60,000
Between one and five years 240,000 240,000
In more than five years 170,000 230,000
470,000 530,000

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.