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REGISTERED NUMBER: 10499131 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Orpheus Cyber Limited

Orpheus Cyber Limited (Registered number: 10499131)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Orpheus Cyber Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: R O Church
H Lopes





REGISTERED OFFICE: 9 Appold Street
London
EC2A 2AP





REGISTERED NUMBER: 10499131 (England and Wales)

Orpheus Cyber Limited (Registered number: 10499131)

Balance Sheet
31 March 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,208,029 625,573
Tangible assets 5 6,686 10,531
1,214,715 636,104

CURRENT ASSETS
Stocks 6 214,922 51,709
Debtors 7 937,094 1,274,276
Cash at bank 502,962 786,832
1,654,978 2,112,817
CREDITORS
Amounts falling due within one year 8 1,128,120 1,080,612
NET CURRENT ASSETS 526,858 1,032,205
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,741,573

1,668,309

CREDITORS
Amounts falling due after more than one
year

9

20,833

83,333
NET ASSETS 1,720,740 1,584,976

CAPITAL AND RESERVES
Called up share capital 228 228
Share premium 1,699,128 1,699,128
Retained earnings 21,384 (114,380 )
1,720,740 1,584,976

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Orpheus Cyber Limited (Registered number: 10499131)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:




H Lopes - Director



R O Church - Director


Orpheus Cyber Limited (Registered number: 10499131)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Orpheus Cyber Limited 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.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Improvements to Property 20% Straight Line
Computer Equipment 33.33% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

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.

Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Development expenditure is capitalised and amortised over its useful life of 5 years. The company has elected to claim the available tax credit in cash.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 27 ) .

Orpheus Cyber Limited (Registered number: 10499131)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 April 2023 781,966
Additions 923,561
At 31 March 2024 1,705,527
AMORTISATION
At 1 April 2023 156,393
Amortisation for year 341,105
At 31 March 2024 497,498
NET BOOK VALUE
At 31 March 2024 1,208,029
At 31 March 2023 625,573

5. TANGIBLE FIXED ASSETS
Improvements
to Computer
property equipment Totals
£    £    £   
COST
At 1 April 2023 12,804 30,728 43,532
Additions - 5,734 5,734
At 31 March 2024 12,804 36,462 49,266
DEPRECIATION
At 1 April 2023 10,265 22,736 33,001
Charge for year 2,539 7,040 9,579
At 31 March 2024 12,804 29,776 42,580
NET BOOK VALUE
At 31 March 2024 - 6,686 6,686
At 31 March 2023 2,539 7,992 10,531

6. STOCKS
2024 2023
as restated
£    £   
Work-in-progress 214,922 51,709

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 129,636 72,876
Amounts owed by group undertakings 434,918 482,797
Other debtors 33,586 73,806
Directors' current accounts 342 -
Tax 297,963 604,131
Called up share capital not paid 4 4
Prepayments and accrued income 40,645 40,662
937,094 1,274,276

Orpheus Cyber Limited (Registered number: 10499131)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts 62,500 221,311
Trade creditors 66,211 78,834
Social security and other taxes 100,005 121,644
VAT 91,111 131,705
Other creditors 5,711 5,280
Accruals and deferred income 802,582 521,838
1,128,120 1,080,612

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
as restated
£    £   
Bank loans - 1-2 years 20,833 62,500
Bank loans - 2-5 years - 20,833
20,833 83,333

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
as restated
£    £   
Within one year 76,500 130,366
Between one and five years - 76,500
76,500 206,866

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
as restated
£    £   
R O Church
Balance outstanding at start of year - -
Amounts advanced 342 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 342 -