CIBTAC Limited Filleted accounts for Companies House (small and micro)

STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS

All of the members of CIBTAC Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 01293645

CIBTAC LIMITED

FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 December 2024

CIBTAC LIMITED

REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ABRIDGED FINANCIAL STATEMENTS OF CIBTAC LIMITED

YEAR ENDED 31 DECEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of CIBTAC Limited for the year ended 31 December 2024, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

LANGARD LIFFORD HALL LIMITED Accountants

Lifford Hall Lifford Lane Kings Norton Birmingham B30 3JN

15 September 2025

CIBTAC LIMITED

ABRIDGED STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Intangible assets	5	1,124	1,498
Tangible assets	6	1,339	1,785
		------------	------------
		2,463	3,283

Current assets

Debtors	50,995	47,558
Cash at bank and in hand	68,700	80,223
	------------	------------
	119,695	127,781

Creditors: amounts falling due within one year	167,573		191,142
	------------		------------
Net current liabilities		47,878		63,361
		------------		------------
Total assets less current liabilities		( 45,415)		( 60,078)

Creditors: amounts falling due after more than one year	12,500	22,500
	------------	------------
Net liabilities	( 57,915)	( 82,578)
	------------	------------

Capital and reserves

Profit and loss account	( 57,915)	( 82,578)
	------------	------------
Shareholders deficit	( 57,915)	( 82,578)
	------------	------------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

CIBTAC LIMITED

ABRIDGED STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

For the year ending 31 December 2024 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 abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

These abridged financial statements were approved by the board of directors and authorised for issue on 15 September 2025 , and are signed on behalf of the board by:

L I Blair

Director

Company registration number: 01293645

CIBTAC LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit C4, Spinnaker House, Spinnaker Road, Gloucester, Gloucestershire, GL2 5FD.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling which is the functional currency of the entity.

Operating lease agreement

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Going concern

These financial statements have been prepared on a going concern basis following assurances of continued financial support from related companies.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Revenue is recognised to the extent that is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Examination Fees Examinations paid are accounted in the financial accounts, the income received is apportioned over the period to which it relates.

Income tax

The taxation expense for the year comprises of current tax. Tax is recognised in the statement of income and retained earnings. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Website	-	25% reducing balance

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures, Fittings and Office Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its financial liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2023: 7 ) .

The company does not directly employ any staff. Wages and salary costs represent costs recharged from Babtac Limited a company under common control.

5. Intangible assets

	£
Cost
At 1 January 2024 and 31 December 2024	10,200
	------------
Amortisation
At 1 January 2024	8,702
Charge for the year	374
	------------
At 31 December 2024	9,076
	------------
Carrying amount
At 31 December 2024	1,124
	------------
At 31 December 2023	1,498
	------------

6. Tangible assets

	£
Cost
At 1 January 2024 and 31 December 2024	27,128
	------------
Depreciation
At 1 January 2024	25,343
Charge for the year	446
	------------
At 31 December 2024	25,789
	------------
Carrying amount
At 31 December 2024	1,339
	------------
At 31 December 2023	1,785
	------------

7. Related party transactions

The company is controlled by the Board of Directors. During the year, fees and expenses have been paid to the directors of £Nil (2023: £3,013). At the balance sheet date the company owed £62,496 to Babtac Limited (2023: £88,250), a company under common control. Babtac Limited recharged costs of £288,123 to Cibtac Limited during the year.