Registered number
08537092
Cyclon Ltd
Filleted Accounts
30 November 2023
Cyclon Ltd
Registered number: 08537092
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 - 2,815
Tangible assets 4 51,412 6,569
51,412 9,384
Current assets
Stocks 66,261 66,261
Debtors 5 155,184 151,286
Cash at bank and in hand 25,575 3,412
247,020 220,959
Creditors: amounts falling due within one year 6 (92,721) (117,562)
Net current assets 154,299 103,397
Total assets less current liabilities 205,711 112,781
Creditors: amounts falling due after more than one year 7 (58,423) (25,833)
Provisions for liabilities (11,871) (138)
Net assets 135,417 86,810
Capital and reserves
Called up share capital 111 111
Profit and loss account 135,306 86,699
Shareholders' funds 135,417 86,810
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Harcharan Singh
Director
Approved by the board on 27 August 2024
Cyclon Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% reducing balance
Motor vehicle 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 75,083
At 30 November 2023 75,083
Amortisation
At 1 December 2022 72,268
Provided during the year 2,815
At 30 November 2023 75,083
Net book value
At 30 November 2023 -
At 30 November 2022 2,815
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2022 20,211 2,300 22,511
Additions - 58,433 58,433
Disposals - (2,300) (2,300)
At 30 November 2023 20,211 58,433 78,644
Depreciation
At 1 December 2022 14,378 1,564 15,942
Charge for the year 1,167 11,687 12,854
On disposals - (1,564) (1,564)
At 30 November 2023 15,545 11,687 27,232
Net book value
At 30 November 2023 4,666 46,746 51,412
At 30 November 2022 5,833 736 6,569
5 Debtors 2023 2022
£ £
Other debtors 155,184 151,286
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 32,197 50,341
Obligations under finance lease and hire purchase contracts 10,023 -
Trade creditors 13,889 40,416
Taxation and social security costs 24,718 17,003
Other creditors 11,894 9,802
92,721 117,562
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 15,833 25,833
Obligations under finance lease and hire purchase contracts 42,590 -
58,423 25,833
8 Controlling party
The company is not under the control of any one individual.
9 Other information
Cyclon Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1B, First Floor
142 Johnson Street
Southall
Middlesex
UB2 5FD
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