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REGISTERED NUMBER: 07450968 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 30 November 2023

for

Cylo Ltd

Cylo Ltd (Registered number: 07450968)

Contents of the Financial Statements
For The Year Ended 30 November 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Cylo Ltd

Company Information
For The Year Ended 30 November 2023







DIRECTOR: Dr G P Millar





REGISTERED OFFICE: 10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET





REGISTERED NUMBER: 07450968 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET

Cylo Ltd (Registered number: 07450968)

Statement of Financial Position
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 21,809 23,294
21,809 23,294

CURRENT ASSETS
Debtors 6 - 636
Cash at bank 58,786 40,488
58,786 41,124
CREDITORS
Amounts falling due within one year 7 62,695 39,194
NET CURRENT (LIABILITIES)/ASSETS (3,909 ) 1,930
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,900

25,224

PROVISIONS FOR LIABILITIES 8 4,143 4,426
NET ASSETS 13,757 20,798

CAPITAL AND RESERVES
Called up share capital 15,504 15,504
Capital redemption reserve 500 500
Retained earnings (2,247 ) 4,794
SHAREHOLDERS' FUNDS 13,757 20,798

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 August 2024 and were signed by:




Dr G P Millar - Director


Cylo Ltd (Registered number: 07450968)

Notes to the Financial Statements
For The Year Ended 30 November 2023


1. STATUTORY INFORMATION

Cylo Ltd 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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on reducing balance
Computer equipment - 10% on reducing balance

Financial instruments
The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.


Cylo Ltd (Registered number: 07450968)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 10,000
AMORTISATION
At 1 December 2022
and 30 November 2023 10,000
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

Cylo Ltd (Registered number: 07450968)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023


5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 December 2022 3,577 36,863 40,440
Additions - 939 939
At 30 November 2023 3,577 37,802 41,379
DEPRECIATION
At 1 December 2022 2,100 15,046 17,146
Charge for year 148 2,276 2,424
At 30 November 2023 2,248 17,322 19,570
NET BOOK VALUE
At 30 November 2023 1,329 20,480 21,809
At 30 November 2022 1,477 21,817 23,294

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 636

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 12,470 11,332
Social security and other taxes 515 -
VAT 5,224 4,621
Directors' current accounts - 1,427
Accruals and deferred income 44,486 21,814
62,695 39,194

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 4,143 4,426

Deferred
tax
£   
Balance at 1 December 2022 4,426
Credit to Statement of Income and Retained Earnings during year (283 )
Balance at 30 November 2023 4,143