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Registration number: 08506530

Cybertots at G.W.Q Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Cybertots at G.W.Q Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Cybertots at G.W.Q Ltd

Company Information

Directors:

J Ozols

K A Ozols

Mr M A Ozols

Registered office:

38 Heathfield Road
London
W3 8EJ

Registered number:

08506530

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

Cybertots at G.W.Q Ltd

(Registration number: 08506530)
Balance Sheet as at 31 December 2023

Note

31.12.23

31.12.22

   

£

£

£

£

FIXED ASSETS

   

 

Tangible assets

4

 

284,129

 

288,092

CURRENT ASSETS

   

 

Debtors

5

581,462

 

628,252

 

Cash at bank and in hand

 

50,062

 

22,104

 

 

631,524

 

650,356

 

CREDITORS

   

 

Creditors within 1yr

6

173,939

 

158,917

 

Net current assets

   

457,585

 

491,439

Total assets less current liabilities

   

741,714

 

779,531

Creditors
Amounts falling due after more than one year

6

 

167,543

 

205,230

Net assets

   

574,171

 

574,301

CAPITAL AND RESERVES

   

 

Called up share capital

 

1,000

 

1,000

Profit and loss account

 

573,171

 

573,301

Shareholders' funds

   

574,171

 

574,301

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 September 2024

.........................................
J Ozols
Director

 

Cybertots at G.W.Q Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1.

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
38 Heathfield Road
London
W3 8EJ

These financial statements were authorised for issue by the Board on 5 September 2024.

2.

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Cybertots at G.W.Q Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

20% straight line basis

Intangible assets

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Cybertots at G.W.Q Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3.

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 40 (2022 - 39).

4.

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 January 2023

284,545

92,921

377,466

Additions

-

2,514

2,514

At 31 December 2023

284,545

95,435

379,980

Depreciation

At 1 January 2023

11,421

77,953

89,374

Charge for the year

1,269

5,208

6,477

At 31 December 2023

12,690

83,161

95,851

Carrying amount

At 31 December 2023

271,855

12,274

284,129

At 31 December 2022

273,124

14,968

288,092

Included within the net book value of land and buildings above is £271,855 (2022 - £273,124) in respect of long leasehold land and buildings.
 

 

Cybertots at G.W.Q Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

5.

Debtors

Current

Note

31.12.23
£

31.12.22
£

Amounts owed by related parties

7

511,229

543,968

Other debtors

 

70,233

84,284

   

581,462

628,252

6.

Creditors

Creditors: amounts falling due within one year

31.12.23
£

31.12.22
£

Due within one year

Taxation and social security

-

17,912

Accruals and deferred income

45,400

10,752

Other creditors

128,539

130,253

173,939

158,917

Included in other creditors is £16,217 owed to one of the directors of the company. No interest or repayment terms have been set.

Creditors: amounts falling due after more than one year

Note

31.12.23
£

31.12.22
£

Due after one year

 

Loans and borrowings

8

167,543

205,230

 

Cybertots at G.W.Q Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

7.

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

31.12.23
£

31.12.22
£

Remuneration

79,529

92,024

Loans to related parties

2023

Associates
£

Total
£

At start of period

543,968

543,968

Repaid

(46,789)

(46,789)

At end of period

497,179

497,179

2022

Associates
£

Total
£

At start of period

543,968

543,968

At end of period

543,968

543,968

8.

Loans and borrowings

31.12.23
£

31.12.22
£

Non-current loans and borrowings

Bank borrowings

167,543

205,230