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REGISTERED NUMBER: 11537535 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CYBAVERSE LTD

CYBAVERSE LTD (REGISTERED NUMBER: 11537535)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CYBAVERSE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr O Spence
G Blake
Ms N Hartland





REGISTERED OFFICE: Langstone Technology Park
Langstone Road
Havant
Portsmouth
Hampshire
PO9 1SA





REGISTERED NUMBER: 11537535 (England and Wales)





ACCOUNTANTS: Peter Jarman LLP
trading as
Peter Jarman & Company
1 Harbour House
Harbour Way
Shoreham by Sea
West Sussex
BN43 5HZ

CYBAVERSE LTD (REGISTERED NUMBER: 11537535)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 163,208 21,316
Tangible assets 5 27,034 31,731
190,242 53,047

CURRENT ASSETS
Debtors 6 234,085 132,283
Cash at bank 42,317 184,225
276,402 316,508
CREDITORS
Amounts falling due within one year 7 (464,904 ) (217,412 )
NET CURRENT (LIABILITIES)/ASSETS (188,502 ) 99,096
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,740

152,143

CREDITORS
Amounts falling due after more than one
year

8

(238,203

)

(55,767

)

PROVISIONS FOR LIABILITIES (5,136 ) (10,078 )
NET (LIABILITIES)/ASSETS (241,599 ) 86,298

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (241,601 ) 86,296
(241,599 ) 86,298

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

CYBAVERSE LTD (REGISTERED NUMBER: 11537535)

BALANCE SHEET - continued
31 DECEMBER 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by:




Mr O Spence - Director



G Blake - Director


CYBAVERSE LTD (REGISTERED NUMBER: 11537535)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Cybaverse 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33.33% on cost and 25% on reducing balance

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 12 ) .

CYBAVERSE LTD (REGISTERED NUMBER: 11537535)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 23,330
Additions 139,878
At 31 December 2023 163,208
AMORTISATION
At 1 January 2023 2,014
Charge for year (2,014 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 163,208
At 31 December 2022 21,316

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 61,793
Additions 3,707
At 31 December 2023 65,500
DEPRECIATION
At 1 January 2023 30,062
Charge for year 8,404
At 31 December 2023 38,466
NET BOOK VALUE
At 31 December 2023 27,034
At 31 December 2022 31,731

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 99,192 112,712
Other debtors 134,893 19,571
234,085 132,283

CYBAVERSE LTD (REGISTERED NUMBER: 11537535)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 183,764 66,611
Trade creditors 137,192 33,388
Taxation and social security 134,718 94,791
Other creditors 9,230 22,622
464,904 217,412

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 238,203 55,767

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 5,539 -

9. SECURED DEBTS

There is a fixed and floating charge over the assets of the company in respect of a bank loans.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr O Spence
Balance outstanding at start of year - -
Amounts advanced 22,274 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,274 -

G Blake
Balance outstanding at start of year - -
Amounts advanced 23,377 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 23,377 -