Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01falseNo description of principal activity1613truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11230776 2022-03-01 2023-02-28 11230776 2021-03-01 2022-02-28 11230776 2023-02-28 11230776 2022-02-28 11230776 c:Director1 2022-03-01 2023-02-28 11230776 d:PlantMachinery 2022-03-01 2023-02-28 11230776 d:PlantMachinery 2023-02-28 11230776 d:PlantMachinery 2022-02-28 11230776 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 11230776 d:OfficeEquipment 2022-03-01 2023-02-28 11230776 d:OfficeEquipment 2023-02-28 11230776 d:OfficeEquipment 2022-02-28 11230776 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 11230776 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 11230776 d:CurrentFinancialInstruments 2023-02-28 11230776 d:CurrentFinancialInstruments 2022-02-28 11230776 d:Non-currentFinancialInstruments 2023-02-28 11230776 d:Non-currentFinancialInstruments 2022-02-28 11230776 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11230776 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 11230776 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 11230776 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 11230776 d:ShareCapital 2023-02-28 11230776 d:ShareCapital 2022-02-28 11230776 d:RetainedEarningsAccumulatedLosses 2023-02-28 11230776 d:RetainedEarningsAccumulatedLosses 2022-02-28 11230776 c:FRS102 2022-03-01 2023-02-28 11230776 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 11230776 c:FullAccounts 2022-03-01 2023-02-28 11230776 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 11230776 2 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 11230776










4 CYTE UK LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
4 CYTE UK LTD
REGISTERED NUMBER: 11230776

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
21,312
23,024

Current assets
  

Stocks
  
26,296
70,898

Debtors: amounts falling due within one year
 5 
259,811
62,292

Cash at bank and in hand
  
35,486
15,636

  
321,593
148,826

Creditors: amounts falling due within one year
 6 
(270,116)
(180,237)

Net current assets/(liabilities)
  
 
 
51,477
 
 
(31,411)

Total assets less current liabilities
  
72,789
(8,387)

Creditors: amounts falling due after more than one year
 7 
(20,518)
(31,400)

  

Net assets/(liabilities)
  
52,271
(39,787)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
52,171
(39,887)

  
52,271
(39,787)


Page 1

 
4 CYTE UK LTD
REGISTERED NUMBER: 11230776
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






D M Furlong
Director

Date: 15 November 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
4 CYTE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

4 Cyte UK Ltd (11230776) is a private company limited by shares and incorporated in England & Wales.  The registered office is Brook House, 1 Brook Close, Dorking, Surrey, RH4 1AH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
4 CYTE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Reducing balance
Office equipment
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
4 CYTE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are
Page 5

 
4 CYTE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2022 - 13).

Page 6

 
4 CYTE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 March 2022
33,917
5,649
39,566


Additions
205
4,144
4,349



At 28 February 2023

34,122
9,793
43,915



Depreciation


At 1 March 2022
14,328
2,214
16,542


Charge for the year on owned assets
4,902
1,159
6,061



At 28 February 2023

19,230
3,373
22,603



Net book value



At 28 February 2023
14,892
6,420
21,312



At 28 February 2022
19,589
3,435
23,024

Page 7

 
4 CYTE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
259,811
58,914

Other debtors
-
3,378

259,811
62,292



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
11,100
11,100

Trade creditors
66,186
59,152

Other taxation and social security
119,038
39,779

Other creditors
38,757
34,281

Accruals and deferred income
35,035
35,925

270,116
180,237



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
20,518
31,400


 
Page 8