Registered number
10539215
Cygnus Limited
Filleted Accounts
31 December 2023
Cygnus Limited
Registered number: 10539215
Balance Sheet
as at 31 December 2023
Notes 2023 2022
as restated
£ £
Fixed assets
Tangible assets 3 112,857 87,166
Current assets
Debtors 4 1,843,955 988,663
Cash at bank and in hand 126,000 128,131
1,969,955 1,116,794
Creditors: amounts falling due within one year 5 (846,017) (307,561)
Net current assets 1,123,938 809,233
Total assets less current liabilities 1,236,795 896,399
Creditors: amounts falling due after more than one year 6 - (59,988)
Net assets 1,236,795 836,411
Capital and reserves
Called up share capital 7 1,000 1,000
Profit and loss account 1,235,795 835,411
Shareholders' funds 1,236,795 836,411
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.
Mr A Jessup
Director
Approved by the board on 15 June 2024
Cygnus Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the financial statements.
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
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts.
Tangible fixed assets
All fixed assets are initially recorded at cost. The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate that the carrying value may not be recoverable. Depreciation is calculated to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Compter Equipment 25% per annum on net book value
Fixtures, fittings 25% per annum on net book value
Motor vehicles 25% per annum on net book value
Leased assets

- Finance lease Assets acquired under Finance leases are capitalised and the outstanding future lease obligations are shown in creditors. capitalised leased Assets are depreciated over the shorter of the lease term and the estimated useful life of the asset.

- Operating lease Leases where the lessor retains substantially all the risks and rewards of ownership are classified as Operating leases. Operating lease rentals are charged to the profit and loss account on a straight line basis over the Period of the lease.
Taxation
The charge for taxation is based on the profit for the year and takes into account taxation deferred due to timing differences between the treatment of certain items for taxation and accounting purposes.
Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes which have arisen but not reversed by the balance sheet date, except as otherwise required by FRS 19.
Dividends
Dividends paid to the Directors for the year totalled £0.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 37 37
3 Tangible fixed assets
Office Equipment
£
Cost
Acquired at 1 January 2017 129,259
Additions 55,760
Disposals (6,948)
At 31 December 2023 178,071
Depreciation
At 1 January 2023 42,093
Charge for the year 30,069
On disposals (6,948)
At 31 December 2023 65,214
Net book value
At 31 December 2023 112,857
At 31 December 2022 87,166
4 Debtors 2023 2022
£ £
Trade debtors 674,250 267,260
Amounts owed by White Leopard Holdings Ltd 904,687 589,169
Amounts owed by White Leopard Ltd 251,587 125,656
Other debtors 13,431 6,578
1,843,955 988,663
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 246,413 93,416
Other creditors 599,604 214,145
846,017 307,561
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors - 59,988
7 Called up share capital 2023 2022
£ £
Allotted, called up and fully paid
Ordinary A share of £1 each 762 94
Ordinary B share of £1 each 238 6
1,000 100
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