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Registration number: 07529883

Cymbol Ltd

Annual Report and Unaudited Financial Statements

For The Year Ended 28 February 2023

 

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 2023

Note

2023
£

2022
£

           

Fixed assets

   

 

Tangible assets

4

 

5,159

 

2,255

Current assets

   

 

Debtors

5

14,129

 

11,121

 

Cash at bank and in hand

 

533

 

30,219

 

 

14,662

 

41,340

 

Creditors: Amounts falling due within one year

6

(15,364)

 

(32,168)

 

Net current (liabilities)/assets

   

(702)

 

9,172

Net assets

   

4,457

 

11,427

Capital and reserves

   

 

Called up share capital

1

 

1

 

Profit and loss account

4,456

 

11,426

 

Total equity

   

4,457

 

11,427

For the financial year ending 28 February 2023 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 October 2023
 

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

 

Cymbol Ltd

Notes to the Unaudited Financial Statements For The Year Ended 28 February 2023

1

General information

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

The address of its registered office is:
11 Fusion Court
Aberford Road
Garforth
Leeds
LS25 2GH
United Kingdom

These financial statements were authorised for issue by the director on 11 October 2023.

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 (£)

Going concern

The financial statements have been prepared on a going concern basis.

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 2023

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

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 2023

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 (2022 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2022

3,364

3,364

Additions

6,020

6,020

At 28 February 2023

9,384

9,384

Depreciation

At 1 March 2022

1,109

1,109

Charge for the year

3,116

3,116

At 28 February 2023

4,225

4,225

Carrying amount

At 28 February 2023

5,159

5,159

At 28 February 2022

2,255

2,255

5

Debtors

Current

2023
£

2022
£

Trade debtors

14,129

11,052

Other debtors

-

69

 

14,129

11,121

 

Cymbol Ltd

Notes to the Unaudited Financial Statements For The Year Ended 28 February 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

14,487

31,328

Other creditors

877

840

15,364

32,168