0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 483,021 483,021 483,021 xbrli:pure xbrli:shares iso4217:GBP 12263774 2022-11-01 2023-10-31 12263774 2023-10-31 12263774 2022-10-31 12263774 2021-11-01 2022-10-31 12263774 2022-10-31 12263774 2021-10-31 12263774 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 12263774 bus:Director1 2022-11-01 2023-10-31 12263774 core:WithinOneYear 2023-10-31 12263774 core:WithinOneYear 2022-10-31 12263774 core:AfterOneYear 2023-10-31 12263774 core:AfterOneYear 2022-10-31 12263774 core:ShareCapital 2023-10-31 12263774 core:ShareCapital 2022-10-31 12263774 core:RetainedEarningsAccumulatedLosses 2023-10-31 12263774 core:RetainedEarningsAccumulatedLosses 2022-10-31 12263774 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-31 12263774 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-31 12263774 bus:SmallEntities 2022-11-01 2023-10-31 12263774 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 12263774 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 12263774 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 12263774 bus:FullAccounts 2022-11-01 2023-10-31 12263774 bus:OrdinaryShareClass1 2023-10-31 12263774 bus:OrdinaryShareClass1 2022-10-31
COMPANY REGISTRATION NUMBER: 12263774
Cyrusplace Limited
Filleted Unaudited Financial Statements
31 October 2023
Cyrusplace Limited
Financial Statements
Year ended 31 October 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Cyrusplace Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
483,021
483,021
Current assets
Debtors
6
10,000
10,000
Cash at bank and in hand
15,597
10,514
--------
--------
25,597
20,514
Creditors: amounts falling due within one year
7
226,895
226,968
---------
---------
Net current liabilities
201,298
206,454
---------
---------
Total assets less current liabilities
281,723
276,567
Creditors: amounts falling due after more than one year
8
275,000
275,000
---------
---------
Net assets
6,723
1,567
---------
---------
Capital and reserves
Called up share capital
9
3
3
Profit and loss account
6,720
1,564
-------
-------
Shareholders funds
6,723
1,567
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Cyrusplace Limited
Statement of Financial Position (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 27 August 2024 , and are signed on behalf of the board by:
Dr R Nateghi-Elahi
Director
Company registration number: 12263774
Cyrusplace Limited
Notes to the Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 St. Clare Drive, Colchester, Essex, CO3 3TA, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis which is dependent upon the continued support of the company's director. The director has expressed their willingness to support the company in the foreseeable future by ensuring sufficient funds are available for the company to continue trading.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rental income.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year, including the director, amounted to 1 (2022: 1).
5. Tangible assets
Investment property
£
Cost
At 1 November 2022 and 31 October 2023
483,021
---------
Depreciation
At 1 November 2022 and 31 October 2023
---------
Carrying amount
At 31 October 2023
483,021
---------
At 31 October 2022
483,021
---------
The director has valued the investment property at £483,021 as at 31 October 2023. The historical cost of the investment property is £483,021.
6. Debtors
2023
2022
£
£
Other debtors
10,000
10,000
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
1,071
2,019
Corporation tax
1,383
174
Director loan accounts
224,441
224,775
---------
---------
226,895
226,968
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
275,000
275,000
---------
---------
Bank loans and overdrafts falling due after more than one year are secured by a charge on the company's investment property.
Included within creditors: amounts falling due after more than one year is an amount of £275,000 (2022: £275,000) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
3
3
3
3
----
----
----
----
10. Related party transactions
At the year end the company owed its director £224,227 (2022: £224,775) which is shown within creditors due within one year.