Company Registration No. 07392583 (England and Wales)
Cyclops Environmental Solutions Ltd
Unaudited accounts
for the year ended 30 September 2021
Cyclops Environmental Solutions Ltd
Unaudited accounts
Contents
Cyclops Environmental Solutions Ltd
Company Information
for the year ended 30 September 2021
Company Number
07392583 (England and Wales)
Registered Office
81 Penny Meadow
Ashton-under-Lyne
OL6 6EL
Accountants
Foster Barlow Limited
81 Penny Meadow
Ashton under Lyne
Lancashire
OL6 6EL
Cyclops Environmental Solutions Ltd
Statement of financial position
as at 30 September 2021
Tangible assets
189,780
234,231
Cash at bank and in hand
4,487
14,487
Creditors: amounts falling due within one year
(124,878)
(99,199)
Net current liabilities
(76,894)
(14,850)
Total assets less current liabilities
112,886
219,381
Creditors: amounts falling due after more than one year
(31,589)
(73,609)
Provisions for liabilities
Deferred tax
(30,004)
(39,974)
Called up share capital
100
100
Profit and loss account
51,193
105,698
Shareholders' funds
51,293
105,798
For the year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 August 2022 and were signed on its behalf by
Paul Crofts
Director
Company Registration No. 07392583
Cyclops Environmental Solutions Ltd
Notes to the Accounts
for the year ended 30 September 2021
Cyclops Environmental Solutions Ltd is a private company, limited by shares, registered in England and Wales, registration number 07392583. The registered office is 81 Penny Meadow, Ashton-under-Lyne, OL6 6EL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
20% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Cyclops Environmental Solutions Ltd
Notes to the Accounts
for the year ended 30 September 2021
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company utilised the furlough scheme during the year.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 October 2020
268,026
289,536
557,562
At 30 September 2021
268,026
292,531
560,557
At 1 October 2020
145,428
177,903
323,331
Charge for the year
24,520
22,926
47,446
At 30 September 2021
169,948
200,829
370,777
At 30 September 2021
98,078
91,702
189,780
At 30 September 2020
122,598
111,633
234,231
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
51,960
64,950
- Motor vehicles
53,094
66,368
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
30,144
61,620
6
Creditors: amounts falling due within one year
2021
2020
Obligations under finance leases and hire purchase contracts
36,828
36,827
Trade creditors
15,358
16,143
Taxes and social security
6,249
6,608
Loans from directors
64,669
36,342
Cyclops Environmental Solutions Ltd
Notes to the Accounts
for the year ended 30 September 2021
7
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
31,589
73,609
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Average number of employees
During the year the average number of employees was 3 (2020: 4).