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Registration number: 05671321

Ciptex Ltd
Unaudited Filleted Financial Statements
for the Year Ended 28 February 2025

Ciptex Ltd

Contents

Balance Sheet | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 10

Ciptex Ltd

(Registration number: 05671321)
Balance Sheet as at 28 February 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 11,482 | 16,511
Investments | 5 | 100 | 100
|  | 11,582 | 16,611
Current assets |  |  |
Debtors | 6 | 1,382,084 | 1,332,329
Cash at bank and in hand |  | 687,945 | 648,289
|  | 2,070,029 | 1,980,618
Creditors: Amounts falling due within one year | 7 | (1,911,263) | (1,513,368)
Net current assets |  | 158,766 | 467,250
Total assets less current liabilities |  | 170,348 | 483,861
Creditors: Amounts falling due after more than one year | 7 | (164,391) | (222,819)
Net assets |  | 5,957 | 261,042
Capital and reserves |  |  |
Called up share capital |  | 1,508 | 1,508
Share premium reserve |  | 501,707 | 501,707
Retained earnings |  | (497,258) | (242,173)
Shareholders' funds |  | 5,957 | 261,042

Ciptex Ltd

(Registration number: 05671321)
Balance Sheet as at 28 February 2025

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 September 2025 and signed on its behalf by:

......................................... Mr NJ Barnett Director |  |

Ciptex Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Ciptex Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Computer equipment | 33% on cost

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Amortisation

Asset class | Amortisation method and rate
Goodwill | 25% straight line
Other intangible assets | 25% straight line

Ciptex Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Ciptex Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2024 - 19).

Ciptex Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

4 | Tangible assets

| Computer equipment £ | Total £
Cost or valuation
At 1 March 2024 | 60,976 | 60,976
Additions | 5,579 | 5,579
Disposals | (19,386) | (19,386)
At 28 February 2025 | 47,169 | 47,169
Depreciation
At 1 March 2024 | 44,465 | 44,465
Charge for the year | 10,608 | 10,608
Eliminated on disposal | (19,386) | (19,386)
At 28 February 2025 | 35,687 | 35,687
Carrying amount
At 28 February 2025 | 11,482 | 11,482
At 29 February 2024 | 16,511 | 16,511

5 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 100 | 100

Subsidiaries | £
Cost or valuation
At 1 March 2024 | 100
Provision
Carrying amount
At 28 February 2025 | 100
At 29 February 2024 | 100

Ciptex Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Subsidiary undertakings
More Talk Communications Limited | Chancery House, 30 St Johns Road, Woking, Surrey GU21 7SA | Ordinary | 100% | 100%
Precium Ltd | Chancery House, 30 St Johns Road, Woking, Surrey GU21 7SA | Ordinary | 100% | 100%

Subsidiary undertakings
More Talk Communications Limited The principal activity of More Talk Communications Limited is that of a dormant company.
Precium Ltd The principal activity of Precium Ltd is that of a dormant company.

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 1,168,539 | 998,089
Prepayments | 201,995 | 287,296
Other debtors | 11,550 | 46,944
| 1,382,084 | 1,332,329

Ciptex Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Bank loans and overdrafts | 8 | 56,191 | 49,576
Trade creditors |  | 481,766 | 528,777
Amounts owed to related parties | 9 | 350,060 | 326,201
Taxation and social security |  | 134,400 | 167,213
Other creditors |  | 888,846 | 441,601
|  | 1,911,263 | 1,513,368
Due after one year |  |  |
Loans and borrowings | 8 | 164,391 | 222,819

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 8 | 164,391 | 222,819

8 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 164,391 | 222,819

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 56,191 | 49,576

9 | Related party transactions

Summary of transactions with other related parties

Ciptex Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

The group has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 Section 1A, not to disclose related party transactions with group companies.
At the year-end the company owed £307,924 (2024 £280,686) to directors of the company. The loans are unsecured but interest is charged at 10% per annum.