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Registration number: 10049207

Cybertrends Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2022

 

Cybertrends Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Cybertrends Limited

Company Information

Director

Mr L C N Blackall

Registered office

11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Cybertrends Limited

(Registration number: 10049207)
Balance Sheet as at 31 December 2022

Note

Period Ending 31 December
2022
£

Year Ending 31 March
2021
£

Fixed assets

 

Tangible assets

4

1,523

2,425

Current assets

 

Debtors

5

81,608

81,608

Cash at bank and in hand

 

8,276

11,010

 

89,884

92,618

Creditors: Amounts falling due within one year

6

(58,382)

(26,619)

Net current assets

 

31,502

65,999

Total assets less current liabilities

 

33,025

68,424

Creditors: Amounts falling due after more than one year

6

(846,691)

(611,691)

Net liabilities

 

(813,666)

(543,267)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(813,766)

(543,367)

Shareholders' deficit

 

(813,666)

(543,267)

For the financial year ending 31 December 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 September 2023
 

.........................................
Mr L C N Blackall
Director

   
 

Cybertrends Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

1

General information

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

The address of its registered office is:
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

Double Digit Media Ltd develops news, sports and entertainment applications for smart phones and also publishes this content through its websites and social media platforms.

The company has partnerships with a broad range of news and sports data providers including Associated Press, SNTV (Sports Network Television), and PA (Press Association) for on-the-minute news, sports and entertainment content.

The company has built and continues to develop an intelligent content management system which programmatically curates and distributes content and allows users to further customise what they receive. Part of this system is a video cloud platform to support the publication of 120+ new HD videos every day.

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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company is dependenat on the continued financial support of one of the Directors through their loan account.

The company has obtained confirmation that the Director will continue to provide the necessary financial support for the forseeable future. Therefore these financial statements have been prepared on a going concern basis.

 

Cybertrends Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

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 sales/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 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.

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

Computer Equipment

25% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Cybertrends Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 ( 2021 - 1).

 

Cybertrends Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2022

3,608

3,608

At 31 December 2022

3,608

3,608

Depreciation

At 1 January 2022

1,183

1,183

Charge for the year

902

902

At 31 December 2022

2,085

2,085

Carrying amount

At 31 December 2022

1,523

1,523

At 31 December 2021

2,425

2,425

5

Debtors

Current

2022
£

2021
£

Other debtors

81,608

81,608

6

Creditors

Creditors: amounts falling due within one year

Note

Year Ending 31 December
2022
£

Year Ending 31 December
2021
£

Due within one year

 

Other creditors

 

58,382

26,619

Due after one year

 

Loans and borrowings

7

846,691

611,691

 

Cybertrends Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Creditors: amounts falling due after more than one year

Note

Year Ending 31 December
2022
£

Year Ending 31 December
2021
£

Due after one year

 

Loans and borrowings

7

846,691

611,691

7

Loans and borrowings

Year Ending 31 December
2022
£

Year Ending 31 December
2021
£

Non-current loans and borrowings

Other borrowings

846,691

611,691