2022-12-012023-11-302023-11-30false09309959Cyberswift 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Cyberswift Limited

Registered Number
09309959
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

Cyberswift Limited
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

Mrs J E Lobban
Sir I R Lobban KCMG CB

Registered Address

1a Eddystone Road
Wadebridge
PL27 7AL

Registered Number

09309959 (England and Wales)
Cyberswift Limited
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets31,8611,535
1,8611,535
Current assets
Debtors86,68975,595
Current asset investments41,719,1931,987,365
Cash at bank and on hand1,944,1291,982,636
3,750,0114,045,596
Creditors amounts falling due within one year5(112,430)(83,037)
Net current assets (liabilities)3,637,5813,962,559
Total assets less current liabilities3,639,4423,964,094
Net assets3,639,4423,964,094
Capital and reserves
Called up share capital22
Profit and loss account3,639,4403,964,092
Shareholders' funds3,639,4423,964,094
The financial statements were approved and authorised for issue by the Board of Directors on 31 July 2024, and are signed on its behalf by:
Sir I R Lobban KCMG CB
Director
Registered Company No. 09309959
Cyberswift Limited
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment5
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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 fair value are included in the profit and loss account.
2.Average number of employees

20232022
Average number of employees during the year21
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 December 225,8245,824
Additions1,3321,332
At 30 November 237,1567,156
Depreciation and impairment
At 01 December 224,2894,289
Charge for year1,0061,006
At 30 November 235,2955,295
Net book value
At 30 November 231,8611,861
At 30 November 221,5351,535
4.Current asset investments
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables-2,131
Bank borrowings and overdrafts7,2936,278
Taxation and social security103,88773,528
Accrued liabilities and deferred income1,2501,100
Total112,43083,037