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REGISTERED NUMBER: 01385250 (England and Wales)

















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Cermag Limited

Cermag Limited (Registered number: 01385250)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cermag Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr M Colley
Mr R J Marshall
Mrs N Marshall





REGISTERED OFFICE: 92 - 94 Holywell Road
Sheffield
South Yorkshire
S4 8AS





REGISTERED NUMBER: 01385250 (England and Wales)





ACCOUNTANTS: Lishmans LLP
16-18 Station Road
Chapeltown
Sheffield
South Yorkshire
S35 2XH

Cermag Limited (Registered number: 01385250)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 97,843 103,711

CURRENT ASSETS
Stocks 157,930 246,636
Debtors 5 227,672 190,887
Cash at bank 117,565 99,003
503,167 536,526
CREDITORS
Amounts falling due within one year 6 279,849 231,183
NET CURRENT ASSETS 223,318 305,343
TOTAL ASSETS LESS CURRENT
LIABILITIES

321,161

409,054

CREDITORS
Amounts falling due after more than
one year

7

(13,838

)

(23,403

)

PROVISIONS FOR LIABILITIES 9 (19,104 ) (19,705 )
NET ASSETS 288,219 365,946

Cermag Limited (Registered number: 01385250)

Balance Sheet - continued
30 June 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 303 101
Retained earnings 287,916 365,845
SHAREHOLDERS' FUNDS 288,219 365,946

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 31 March 2025 and were signed on its behalf by:





Mr R J Marshall - Director


Cermag Limited (Registered number: 01385250)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Cermag Limited is a private company , limited by shares , registered in England and Wales. The company's registered number is 01385250 and registered office address is 94 Holywell Road, Sheffield, S4 8AS.

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 - 10% on reducing balance
Fixtures and fittings - 20% on reducing balance basis
Motor vehicles - 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.

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.


Cermag Limited (Registered number: 01385250)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liablilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 14 ) .

Cermag Limited (Registered number: 01385250)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2023 574,125 172,541 24,836 771,502
Additions 9,172 - - 9,172
Disposals (14,199 ) - - (14,199 )
At 30 June 2024 569,098 172,541 24,836 766,475
DEPRECIATION
At 1 July 2023 480,725 162,444 24,622 667,791
Charge for year 9,966 2,015 54 12,035
Eliminated on disposal (11,194 ) - - (11,194 )
At 30 June 2024 479,497 164,459 24,676 668,632
NET BOOK VALUE
At 30 June 2024 89,601 8,082 160 97,843
At 30 June 2023 93,400 10,097 214 103,711

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 214,697 173,042
Other debtors 12,975 17,845
227,672 190,887

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 95,686 83,598
Taxation and social security 50,937 28,524
Other creditors 123,226 109,061
279,849 231,183

Cermag Limited (Registered number: 01385250)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 13,838 23,403

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 23,838 33,403

The invoice financing is secured on trade debtors.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 19,104 19,705

Deferred
tax
£   
Balance at 1 July 2023 19,705
Provided during year (601 )
Balance at 30 June 2024 19,104