Company registration number 13048024 (England and Wales)
CRIZAC INFORMATICS LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
CRIZAC INFORMATICS LTD
CONTENTS
Page
Director's report
1
Profit and loss account
2
Balance sheet
3
Statement of changes in equity
4
Notes to the financial statements
5 - 7
CRIZAC INFORMATICS LTD
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

The director presents his annual report and financial statements for the year ended 31 December 2023.

Principal activities

The principal activity which the company will be involved in information technology and support services within the educational sector.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Mr V Agarwal
(Resigned 15 December 2023)
Mr C Nagle
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr C Nagle
Director
4 March 2024
CRIZAC INFORMATICS LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
2023
2022
£
£
Turnover
1,385,037
38,000
Cost of sales
(436,000)
(22,604)
Gross profit
949,037
15,396
Administrative expenses
(63,312)
(6,885)
Profit before taxation
885,725
8,511
Tax on profit
(208,493)
(1,617)
Profit for the financial year
677,232
6,894

The profit and loss account has been prepared on the basis that all operations are continuing operations.

CRIZAC INFORMATICS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 3 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
969,936
-
0
Cash at bank and in hand
121,199
9,961
1,091,135
9,961
Creditors: amounts falling due within one year
4
(406,909)
(2,967)
Net current assets
684,226
6,994
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
684,126
6,894
Total equity
684,226
6,994

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 4 March 2024 and are signed on its behalf by:
Mr C  Nagle
Director
Company registration number 13048024 (England and Wales)
CRIZAC INFORMATICS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2022
100
-
0
100
Year ended 31 December 2022:
Profit and total comprehensive income
-
6,894
6,894
Balance at 31 December 2022
100
6,894
6,994
Year ended 31 December 2023:
Profit and total comprehensive income
-
677,232
677,232
Balance at 31 December 2023
100
684,126
684,226
CRIZAC INFORMATICS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
1
Accounting policies
Company information

Crizac Informatics Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 24 Great Chapel Street, London, United Kingdom,, W1F 8FS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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

CRIZAC INFORMATICS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 6 -
1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
969,936
-
0
CRIZAC INFORMATICS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
6,198
-
0
Corporation tax
208,493
1,617
Other taxation and social security
186,868
-
0
Other creditors
5,350
1,350
406,909
2,967
5
Events after the reporting date

Post year end, the shares were split from £1 shares to £0.00001 which led to increase in number of shares shares issued from 100 shares to 10,000,000 shares on the 1st February 2024, further on the 9th of February another 46,350,000 shares were issued which led to the total number of shares issued at 56,350,000.

6
Related party transactions

Related Party Transaction - Turnover

During the year, the company provided services of £857,356 to Crizac Limited a UK company which was related by virtue of common directorship. Further the company provided service of £516,228 to Holmes Global limited a UK company which was related by virtue of common directorship.

 

Related Party Transaction - Expenses

During the year, the company paid £130,448 to ACG Technologies Ltd a UK Registered company which is related by virtue of common directorship.

7
Ultimate Controlling party

The ultimate controlling party of the company is the director C Nagle by virtue of holding shares in the companies which are the shareholders of the company.

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