Cimac Martial Arts Wear Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01212490 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CIMAC MARTIAL ARTS

WEAR LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D K Mills

SECRETARY:

D K Mills

REGISTERED OFFICE:

Cimac House

Highlands Road

Shirley

Solihull

B90 4NG

REGISTERED NUMBER:

01212490 (England and Wales)

ACCOUNTANTS:

Prime

Chartered Accountants

Corner Oak

1 Homer Road

Solihull

B91 3QG

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

1,946

3,060

1,946

3,060

CURRENT ASSETS

Stocks

709,975

831,139

Debtors

6

199,115

96,492

Cash at bank and in hand

254,162

757,322

1,163,252

1,684,953

CREDITORS

Amounts falling due within one year

7

275,496

434,131

NET CURRENT ASSETS

887,756

1,250,822

TOTAL ASSETS LESS CURRENT
LIABILITIES

889,702

1,253,882

PROVISIONS FOR LIABILITIES

487

765

NET ASSETS

889,215

1,253,117

CAPITAL AND RESERVES

Called up share capital

1,001

Retained earnings

888,214

1,252,116

SHAREHOLDERS' FUNDS

889,215

1,253,117

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

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 11 September 2025 and were signed by:

D K Mills - Director

1.	STATUTORY INFORMATION

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

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.

Computer software 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.

Improvements to property

-

10% on cost

Fixtures and fittings

-

50% on cost and 15% on cost

Computer equipment

-

50% on cost and 33.33% on cost

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.

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.

Foreign currencies

Assets and liabilities 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable for the year are charged in the profit and loss account. These contributions are invested separately from the company's assets.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

12,361

AMORTISATION

At 1 January 2024

and 31 December 2024

12,361

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

COST

At 1 January 2024

2,269

52,290

30,931

85,490

Additions

-

582

At 31 December 2024

2,269

52,290

31,513

86,072

DEPRECIATION

At 1 January 2024

1,939

52,290

28,201

82,430

Charge for year

45

-

1,651

1,696

At 31 December 2024

1,984

52,290

29,852

84,126

NET BOOK VALUE

At 31 December 2024

285

-

1,661

1,946

At 31 December 2023

330

-

2,730

3,060

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

191,405

86,658

Other debtors

7,710

9,834

199,115

96,492

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

35,151

37,147

Taxation and social security

230,999

384,296

Other creditors

9,346

12,688

275,496

434,131