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REGISTERED NUMBER: 03663739 (England and Wales)















CYCLAIRE LTD

Unaudited Financial Statements

for the Year Ended 30 September 2023






CYCLAIRE LTD (Registered number: 03663739)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CYCLAIRE LTD

Company Information
for the Year Ended 30 September 2023







DIRECTORS: J T Powell
D Boulton





SECRETARY: J T Powell





REGISTERED OFFICE: Claxton House
Claxton
York
North Yorkshire
YO60 7SD





REGISTERED NUMBER: 03663739 (England and Wales)





ACCOUNTANTS: Maclean & Company
1 Park View Court
St Paul's Road
Shipley
West Yorkshire
BD18 3DZ

CYCLAIRE LTD (Registered number: 03663739)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 17,591 53,403
Tangible assets 5 59,711 56,840
77,302 110,243

CURRENT ASSETS
Stocks 170,850 120,000
Cash at bank and in hand 111,238 184,993
282,088 304,993
CREDITORS
Amounts falling due within one year 6 76,221 79,287
NET CURRENT ASSETS 205,867 225,706
TOTAL ASSETS LESS CURRENT
LIABILITIES

283,169

335,949

CREDITORS
Amounts falling due after more than one
year

7

27,425

37,255
NET ASSETS 255,744 298,694

CAPITAL AND RESERVES
Called up share capital 197 197
Share premium 156,429 156,429
Retained earnings 99,118 142,068
SHAREHOLDERS' FUNDS 255,744 298,694

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CYCLAIRE LTD (Registered number: 03663739)

Balance Sheet - continued
30 September 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2023 and were signed on its behalf by:




D Boulton - Director



J T Powell - Director


CYCLAIRE LTD (Registered number: 03663739)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

CYCLAIRE LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Patents & licences
Patents and licences are amortised on a straight line basis over a ten year period so as to write off the cost of the assets over the estimated useful lives.

Research & development costs
The company capitalises expenditure on specific product design and related activities which directly contribute to technological advancement which it will actively market to its customers in future years. Such expenditure is amortised over the succeeding five years in equal instalments.

Prototypes
Prototype costs are amortised on a straight line basis over a three year period so as to write off the cost of the assets over the estimated useful lives.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tooling - at variable rates on reducing balance
Fixtures and fittings - 15% on reducing balance
Office equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


CYCLAIRE LTD (Registered number: 03663739)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Research Patents
& developments and
costs licences Design Prototypes Totals
£    £    £    £    £   
COST
At 1 October 2022
and 30 September 2023 179,060 30,552 10,415 9,145 229,172
AMORTISATION
At 1 October 2022 125,657 30,552 10,415 9,145 175,769
Amortisation for year 35,812 - - - 35,812
At 30 September 2023 161,469 30,552 10,415 9,145 211,581
NET BOOK VALUE
At 30 September 2023 17,591 - - - 17,591
At 30 September 2022 53,403 - - - 53,403

CYCLAIRE LTD (Registered number: 03663739)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Office
Tooling fittings equipment Totals
£    £    £    £   
COST
At 1 October 2022 241,234 3,494 6,920 251,648
Additions 10,050 2,673 686 13,409
At 30 September 2023 251,284 6,167 7,606 265,057
DEPRECIATION
At 1 October 2022 187,367 1,342 6,099 194,808
Charge for year 9,588 724 226 10,538
At 30 September 2023 196,955 2,066 6,325 205,346
NET BOOK VALUE
At 30 September 2023 54,329 4,101 1,281 59,711
At 30 September 2022 53,867 2,152 821 56,840

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade creditors 59,879 48,811
Taxation 14,242 28,376
Other creditors 2,100 2,100
76,221 79,287

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans 27,425 37,255

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 27,425 37,255