Registered number
10539215
Cygnus Limited
Filleted Accounts
31 December 2021
Cygnus Limited
Registered number: 10539215
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 12,895 18,488
Investments 4 - 4
12,895 18,492
Current assets
Debtors 5 903,449 1,061,844
Cash at bank and in hand 176,050 269,143
1,079,499 1,330,987
Creditors: amounts falling due within one year 6 (444,282) (711,710)
Net current assets 635,217 619,277
Net assets 648,112 637,769
Capital and reserves
Called up share capital 7 1,000 1,000
Merger reserve 1,104,458 1,104,458
Profit and loss account (457,346) (467,689)
Shareholders' funds 648,112 637,769
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A Jessup
Director
Approved by the board on 10 June 2022
Cygnus Limited
Notes to the Accounts
for the year ended 31 December 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts.
Tangible fixed assets
All fixed assets are initially recorded at cost. The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate that the carrying value may not be recoverable.. Depreciation is calculated to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Compter Equipment 25% per annum on net book value
Fixtures, fittings 25% per annum on net book value
Taxation
The charge for taxation is based on the profit for the year and takes into account taxation deferred due to timing differences between the treatment of certain items for taxation and accounting purposes.
Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes which have arisen but not reversed by the balance sheet date, except as otherwise required by FRS 19.
Dividends
Dividends paid to the Directors for the year totalled £4,000.
Leased assets

- Finance lease Assets acquired under Finance leases are capitalised and the outstanding future lease obligations are shown in creditors. capitalised leased Assets are depreciated over the shorter of the lease term and the estimated useful life of the asset.

- Operating lease Leases where the lessor retains substantially all the risks and rewards of ownership are classified as Operating leases. Operating lease rentals are charged to the profit and loss account on a straight line basis over the Period of the lease.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 37 37
3 Tangible fixed assets
Office Equipment
£
Cost
Acquired at 1 January 2017 74,893
Additions 8,704
Disposals (31,348)
At 31 December 2021 52,249
Depreciation
At 1 January 2021 56,405
Charge for the year 14,297
On disposals (31,348)
At 31 December 2021 39,354
Net book value
At 31 December 2021 12,895
At 31 December 2020 18,488
4 Investments
Other
investments
£
Cost
At 1 January 2021 4
Revaluation (4)
At 31 December 2021 -
5 Debtors 2021 2020
£ £
Trade debtors 471,411 536,198
Amounts owed by White Leopard Holdings Ltd 295,754 283,196
Amounts owed by White Leopard Ltd 129,831 230,235
Other debtors 6,453 12,215
903,449 1,061,844
6 Creditors: amounts falling due within one year 2021 2020
£ £
Trade creditors 72,977 79,806
Other creditors 371,305 631,904
444,282 711,710
7 Called up share capital 2021 2020
£ £
Allotted, called up and fully paid
Ordinary A share of £1 each 762 762
Ordinary B share of £1 each 238 238
1,000 1,000
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