CYBER WALES GROUP C.I.C.

Company Registration Number:
12474096 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2023

Period of accounts

Start date: 1 March 2022

End date: 28 February 2023

CYBER WALES GROUP C.I.C.

Contents of the Financial Statements

for the Period Ended 28 February 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

CYBER WALES GROUP C.I.C.

Directors' report period ended 28 February 2023

The directors present their report with the financial statements of the company for the period ended 28 February 2023

Directors

The directors shown below have held office during the whole of the period from
1 March 2022 to 28 February 2023

Jason Iestyn Davies
John Iestyn Davies


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
28 November 2023

And signed on behalf of the board by:
Name: John Iestyn Davies
Status: Director

CYBER WALES GROUP C.I.C.

Profit And Loss Account

for the Period Ended 28 February 2023

2023 2022


£

£
Turnover: 19,981 0
Cost of sales: ( 41,873 ) ( 49,185 )
Gross profit(or loss): (21,892) (49,185)
Administrative expenses: ( 57,018 ) ( 39,670 )
Other operating income: 72,125 114,625
Operating profit(or loss): (6,785) 25,770
Interest payable and similar charges: ( 18 ) 0
Profit(or loss) before tax: (6,803) 25,770
Tax: 1,259 ( 4,896 )
Profit(or loss) for the financial year: (5,544) 20,874

CYBER WALES GROUP C.I.C.

Balance sheet

As at 28 February 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 2,164 2,886
Total fixed assets: 2,164 2,886
Current assets
Debtors: 4 9,017 0
Cash at bank and in hand: 22,337 45,277
Total current assets: 31,354 45,277
Creditors: amounts falling due within one year: 5 ( 19,070 ) ( 28,034 )
Net current assets (liabilities): 12,284 17,243
Total assets less current liabilities: 14,448 20,129
Provision for liabilities: ( 411 ) ( 548 )
Total net assets (liabilities): 14,037 19,581
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 13,937 19,481
Total Shareholders' funds: 14,037 19,581

The notes form part of these financial statements

CYBER WALES GROUP C.I.C.

Balance sheet statements

For the year ending 28 February 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 28 November 2023
and signed on behalf of the board by:

Name: John Iestyn Davies
Status: Director

The notes form part of these financial statements

CYBER WALES GROUP C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of consideration received or receivable, excluding any discounts, rebates or sales taxes. Income is recognised in the period in which the service is provided.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.Plant and machinery - 25% on reducing balance

    Other accounting policies

    TaxationTaxation 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 the 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.Deferred TaxDeferred 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.

CYBER WALES GROUP C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 3 3

CYBER WALES GROUP C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2022 3,298 3,298
Additions
Disposals
Revaluations
Transfers
At 28 February 2023 3,298 3,298
Depreciation
At 1 March 2022 412 412
Charge for year 722 722
On disposals
Other adjustments
At 28 February 2023 1,134 1,134
Net book value
At 28 February 2023 2,164 2,164
At 28 February 2022 2,886 2,886

CYBER WALES GROUP C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2023

4. Debtors

2023 2022
£ £
Trade debtors 6,850 0
Other debtors 2,167 0
Total 9,017 0

CYBER WALES GROUP C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 3,556 6,757
Other creditors 15,514 21,277
Total 19,070 28,034

CYBER WALES GROUP C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2023

6. Loans to directors

Name of director receiving advance or credit: Jason Iestyn Davies
Description of the transaction:
The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:
£
Balance at 28 February 2022
Advances or credits made: 2,167
Advances or credits repaid:
Balance at 28 February 2023 2,167

COMMUNITY INTEREST ANNUAL REPORT

CYBER WALES GROUP C.I.C.

Company Number: 12474096 (England and Wales)

Year Ending: 28 February 2023

Company activities and impact

Cyber Wales carries out activities aimed at raising awareness and skills in cyber security across Businesses, Academia, Law Enforcement, Defence and Government. These include networking groups (known as Clusters), training courses, international collaboration on innovation and research, negotiating and offering members specific deals with products/service providers, updating members with the latest news and opportunities in the field along with supporting NCSC, UK and Welsh Government's in a number of key areas including trade shows, international delegations, inward investment and other initiatives.

Consultation with stakeholders

The Company's stakeholders are member colleges and their students, businesses, law enforcement, defence and government agencies. The directors of the company have a number of years' experience in Cyber Security and have developed the business model based on their ability to effectively transfer their knowledge of ways to combat rapidly increasing cyber-crime.The Company's main activities revolve around running informal networking group meetings. Since the company began trading, all of these meetings have been run remotely due to covid restrictions on face to face meetings. The meetings are run by the 9 Cluster Managers who are responsible for communicating with their target audiences (done during meetings, surveys of the membership and ad hoc contacts). The topics, speakers arrangements for the future meetings are continuously amended to suit the wishes of the members.The secondary activities revolve around capturing updates, advice and guidance from the range of cyber intelligence sources in Wales and communicating them to the membership via the website. This information is moderated by the 9 Cluster Managers (who form the Management Team) and the Steering Board made up of 9 members from a range of Corporate, Academic and Defence organisations.

Directors' remuneration

The following remuneration was paid to the directors in the yearJason Davies - £9,996.33John Davies - £9,996.33The director Jason Davies was overdrawn by £2,167 at the year end but this loan has now been repaid.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
22 November 2023

And signed on behalf of the board by:
Name: John Davies
Status: Director