Registration number:
Cybertrends Limited
for the Year Ended 31 December 2022
Cybertrends Limited
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Cybertrends Limited
Company Information
Director |
Mr L C N Blackall |
Registered office |
|
Accountants |
|
Cybertrends Limited
(Registration number: 10049207)
Balance Sheet as at 31 December 2022
Note |
Period Ending 31 December |
Year Ending 31 March |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
( |
( |
|
Shareholders' deficit |
( |
( |
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 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
......................................... |
Cybertrends Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
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.
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Cybertrends Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
Tangible assets |
Furniture, fittings and equipment |
Total |
|
Cost or valuation |
||
At 1 January 2022 |
|
|
At 31 December 2022 |
|
|
Depreciation |
||
At 1 January 2022 |
|
|
Charge for the year |
|
|
At 31 December 2022 |
|
|
Carrying amount |
||
At 31 December 2022 |
|
|
At 31 December 2021 |
|
|
Debtors |
Current |
2022 |
2021 |
Other debtors |
|
|
Creditors |
Creditors: amounts falling due within one year
Note |
Year Ending 31 December |
Year Ending 31 December |
|
Due within one year |
|||
Other creditors |
|
|
|
Due after one year |
|||
Loans and borrowings |
|
|
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 |
Year Ending 31 December |
|
Due after one year |
|||
Loans and borrowings |
|
|
Loans and borrowings |
Year Ending 31 December |
Year Ending 31 December |
|
Non-current loans and borrowings |
||
Other borrowings |
|
|