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Registration number: 07529883

Cymbol Ltd

Annual Report and Unaudited Financial Statements

For The Year Ended 28 February 2022

 

Cymbol Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Cymbol Ltd

(Registration number: 07529883)
Balance Sheet as at 28 February 2022

Note

2022
£

2021
£

           

Fixed assets

   

 

Tangible assets

5

 

2,255

 

-

Current assets

   

 

Debtors

6

11,121

 

54,410

 

Cash at bank and in hand

 

30,219

 

10,847

 

 

41,340

 

65,257

 

Creditors: Amounts falling due within one year

7

(32,168)

 

(10,667)

 

Net current assets

   

9,172

 

54,590

Net assets

   

11,427

 

54,590

Capital and reserves

   

 

Called up share capital

1

 

1

 

Profit and loss account

11,426

 

54,589

 

Total equity

   

11,427

 

54,590

For the financial year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 11 September 2022
 

.........................................
Mr M Bullock
Director

 

Cymbol Ltd

Notes to the Unaudited Financial Statements For The Year Ended 28 February 2022

1

General information

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

The address of its registered office is:
BCL House
2 Pavilion Business Park
Royds Hall Road
Leeds
LS12 6AJ

These financial statements were authorised for issue by the director on 11 September 2022.

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.

The presentational currency is sterling (£)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

The company recognises revenue when, the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

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.

 

Cymbol Ltd

Notes to the Unaudited Financial Statements For The Year Ended 28 February 2022

Tax

The tax expense for the period comprises current 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.

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

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 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

Fixtures & fittings

25% reducing balance

Computer equipment

33% straight line

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

Other Intangible assets

nil

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Cymbol Ltd

Notes to the Unaudited Financial Statements For The Year Ended 28 February 2022

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 the director) during the year, was 1 (2021 - 1).

4

Intangible assets

Cost or valuation

Amortisation

Carrying amount

At 28 February 2022

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2021

3,517

3,517

Additions

3,363

3,363

Disposals

(3,516)

(3,516)

At 28 February 2022

3,364

3,364

Depreciation

At 1 March 2021

3,517

3,517

Charge for the year

1,109

1,109

Eliminated on disposal

(3,517)

(3,517)

At 28 February 2022

1,109

1,109

Carrying amount

At 28 February 2022

2,255

2,255

 

Cymbol Ltd

Notes to the Unaudited Financial Statements For The Year Ended 28 February 2022

6

Debtors

Current

2022
£

2021
£

Trade debtors

11,052

9,638

Other debtors

69

44,772

 

11,121

54,410

7

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Taxation and social security

31,328

9,947

Other creditors

840

720

32,168

10,667