Chimes Marketing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

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:
The Withies
Burtle Road
Burtle
Somerset

Principal activity

The principal activity of the company is wholesale and distribution of greetings cards.

2	Accounting policies

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

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 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Chimes Marketing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (continued)

2	Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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
Property improvements	- 15% reducing balance
Office furniture	- 15% reducing balance

Impairment

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.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	- 10% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Chimes Marketing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (continued)

2	Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2025 - 2).

Chimes Marketing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (continued)

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 March 2025	59,300	59,300
At 28 February 2026	59,300	59,300
Amortisation
At 1 March 2025	41,511	41,511
Amortisation charge	5,930	5,930
At 28 February 2026	47,441	47,441
Carrying amount
At 28 February 2026	11,859	11,859
At 28 February 2025	17,789	17,789

5	Tangible assets

	Property improvements £	Office furniture £	Total £
Cost or valuation
At 1 March 2025	2,255	14,686	16,941
Additions	-	490	490
Disposals	-	(259)	(259)
At 28 February 2026	2,255	14,917	17,172
Depreciation
At 1 March 2025	1,441	9,500	10,941
Charge for the year	123	826	949
Eliminated on disposal	-	(100)	(100)
At 28 February 2026	1,564	10,226	11,790
Carrying amount
At 28 February 2026	691	4,691	5,382
At 28 February 2025	814	5,186	6,000

Chimes Marketing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (continued)

6

Stocks

	2026 £	2025 £
Other inventories	42,065	38,271

7

Debtors

	2026 £	2025 £
Trade debtors	5,293	4,721
Other debtors	198	-
	5,491	4,721

8

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Due within one year
Trade creditors	7,927	6,133
Taxation and social security	8,966	9,145
Accruals and deferred income	900	987
Directors' loan account	71,038	78,694
	88,831	94,959

9	Related party transactions

Transactions with directors

2026	At 1 March 2025 £	Advances to director £	Repayments by director £	At 28 February 2026 £
Directors	(78,694)	148,510	(140,854)	(71,038)

2025	At 1 March 2024 £	Advances to director £	Repayments by director £	At 28 February 2025 £
Directors	(88,763)	50,404	(40,335)	(78,694)