Company Registration No. 11495990 (England and Wales)
CYBERIADAI LTD
Unaudited accounts
for the year ended 31 December 2023
CYBERIADAI LTD
Unaudited accounts
Contents
CYBERIADAI LTD
Company Information
for the year ended 31 December 2023
Directors
Adam Dancewicz
Martin Jasinski
Piotr Surma
Company Number
11495990 (England and Wales)
Registered Office
Niddry Lodge
51 Holland Street
London
W8 7JB
Accountants
Salvares JBS Ltd
Niddry Lodge
51 Holland Street
London
London
W8 7JB
CYBERIADAI LTD
Statement of financial position
as at 31 December 2023
Investments
5,009,763
5,304,909
Debtors
34,264,172
38,223,135
Cash at bank and in hand
690,195
62,722,876
Creditors: amounts falling due within one year
(12,215)
(62,465,905)
Net current assets
34,942,152
38,480,106
Net assets
39,951,915
43,785,015
Called up share capital
338
338
Share premium
6,217,648
6,217,648
Profit and loss account
33,733,929
37,567,029
Shareholders' funds
39,951,915
43,785,015
For the year ending 31 December 2023 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 June 2024 and were signed on its behalf by
Piotr Surma
Director
Company Registration No. 11495990
CYBERIADAI LTD
Notes to the Accounts
for the year ended 31 December 2023
CYBERIADAI LTD is a private company, limited by shares, registered in England and Wales, registration number 11495990. The registered office is Niddry Lodge, 51 Holland Street, London, W8 7JB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities and the Companies Act 2006.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Investments in subsidiaries are measured at cost less impairment.
Investments in shares are included at fair value.
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in the fair value are included in the profit and loss account.
As at 31st December 2023 the Company was a parent company of Applica.ai, Inc., a company registered in the state of Delaware, USA.
4
Investments
Subsidiary undertakings
Other investments
Total
Valuation at 1 January 2023
1
5,304,908
5,304,909
Additions
-
268,097
268,097
Fair value adjustments
-
(563,243)
(563,243)
Valuation at 31 December 2023
1
5,009,762
5,009,763
CYBERIADAI LTD
Notes to the Accounts
for the year ended 31 December 2023
Amounts falling due within one year
Amounts due from group undertakings etc.
876
-
Accrued income and prepayments
-
4,904
Other debtors
34,250,480
38,205,451
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
11,992
50,087
Amounts owed to group undertakings and other participating interests
1,434
1,379
Taxes and social security
(1,211)
(1,211)
Proposed dividends
-
62,415,650
7
Transactions with related parties
In 2022 the Company was the parent and the ultimate controlling party to two subsidiaries: Applica sp. z o.o., a Polish company and Applica.ai, Inc, an American company.
In September 2022 the company disposed of shares in Applica sp. z o.o.
As at 31/12/2023:
- the value of investment in shares Applica.ai, Inc was 0.79 GBP
- the value of loans to Applica.ai, Inc and interest accrued was 5,009,761.42
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).