Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-302022-05-01falseNo description of principal activity32falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05110903 2022-05-01 2023-04-30 05110903 2021-05-01 2022-04-30 05110903 2023-04-30 05110903 2022-04-30 05110903 c:Director1 2022-05-01 2023-04-30 05110903 d:MotorVehicles 2022-05-01 2023-04-30 05110903 d:MotorVehicles 2023-04-30 05110903 d:MotorVehicles 2022-04-30 05110903 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 05110903 d:FurnitureFittings 2022-05-01 2023-04-30 05110903 d:FurnitureFittings 2023-04-30 05110903 d:FurnitureFittings 2022-04-30 05110903 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 05110903 d:OfficeEquipment 2022-05-01 2023-04-30 05110903 d:OfficeEquipment 2023-04-30 05110903 d:OfficeEquipment 2022-04-30 05110903 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 05110903 d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 05110903 d:CurrentFinancialInstruments 2023-04-30 05110903 d:CurrentFinancialInstruments 2022-04-30 05110903 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 05110903 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 05110903 d:ShareCapital 2023-04-30 05110903 d:ShareCapital 2022-04-30 05110903 d:RetainedEarningsAccumulatedLosses 2023-04-30 05110903 d:RetainedEarningsAccumulatedLosses 2022-04-30 05110903 c:OrdinaryShareClass1 2022-05-01 2023-04-30 05110903 c:OrdinaryShareClass1 2023-04-30 05110903 c:OrdinaryShareClass1 2022-04-30 05110903 c:FRS102 2022-05-01 2023-04-30 05110903 c:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 05110903 c:FullAccounts 2022-05-01 2023-04-30 05110903 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 05110903 2 2022-05-01 2023-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05110903










CYAN COMMERCE LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2023

 
CYAN COMMERCE LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CYAN COMMERCE LTD
FOR THE YEAR ENDED 30 APRIL 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cyan Commerce Ltd for the year ended 30 April 2023 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Cyan Commerce Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Cyan Commerce Ltd  and state those matters that we have agreed to state to the Board of directors of Cyan Commerce Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cyan Commerce Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Cyan Commerce Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cyan Commerce Ltd. You consider that Cyan Commerce Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Cyan Commerce Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
12 Church Street
Cromer
Norfolk
NR27 9ER
28 November 2023
Page 1

 
CYAN COMMERCE LTD
REGISTERED NUMBER: 05110903

BALANCE SHEET
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,952
5,223

  
2,952
5,223

Current assets
  

Stocks
  
500
500

Debtors: amounts falling due within one year
 5 
227,833
72,397

Cash at bank and in hand
 6 
336,565
291,122

  
564,898
364,019

Creditors: amounts falling due within one year
 7 
(70,493)
(38,173)

Net current assets
  
 
 
494,405
 
 
325,846

Total assets less current liabilities
  
497,357
331,069

  

Net assets
  
497,357
331,069


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
497,257
330,969

  
497,357
331,069


Page 2

 
CYAN COMMERCE LTD
REGISTERED NUMBER: 05110903
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023

The directors consider 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 directors acknowledge their 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 profit and loss account 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 on 2 October 2023.


Noel Hinton
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
CYAN COMMERCE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

Cyan Commerce 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover 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 turnover 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.

Page 4

 
CYAN COMMERCE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
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

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

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 balance sheet date in the countries where the Company operates and generates income.

 
2.7

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Page 5

 
CYAN COMMERCE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

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:

Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Office equipment
-
33% straight line

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.

 
2.8

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 balance sheet 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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial
Page 6

 
CYAN COMMERCE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)

Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 2).

Page 7

 
CYAN COMMERCE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 May 2022
5,995
2,084
32,676
40,755


Additions
-
1,687
339
2,026



At 30 April 2023

5,995
3,771
33,015
42,781



Depreciation


At 1 May 2022
5,396
1,968
28,169
35,533


Charge for the year on owned assets
150
451
3,695
4,296



At 30 April 2023

5,546
2,419
31,864
39,829



Net book value



At 30 April 2023
449
1,352
1,151
2,952



At 30 April 2022
599
116
4,508
5,223

Page 8

 
CYAN COMMERCE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

5.


Debtors

2023
2022
£
£


Trade debtors
195,166
40,859

Other debtors
26,500
25,500

Prepayments and accrued income
6,167
6,038

227,833
72,397



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
336,565
291,122

336,565
291,122



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
2,141
1,528

Corporation tax
40,715
11,250

Other taxation and social security
23,614
21,360

Other creditors
2,838
2,925

Accruals and deferred income
1,185
1,110

70,493
38,173



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100


Page 9

 
CYAN COMMERCE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £5,301 (2022 - £3,596) . Contributions totalling £442 (2022 - £442) were payable to the fund at the balance sheet date and are included in creditors.


10.


Related party transactions

The company was under control of Mr N Hinton and Mr J Starling throughout the current and previous year. 
Mr J Starling a director is also a shareholder of Starlings of Sheringham Ltd.  During the year the company sold goods to the value of £2,079 (2022 £981) to Starlings of Sheringham Ltd.  At the year end Starlings of Sheringham Ltd owed the company £273 (2022 £nil).

 
Page 10