Company Registration No. 10941784 (England and Wales)
CYC LIMITED
Unaudited accounts
for the year ended 30 September 2023
CYC LIMITED
Company Information
for the year ended 30 September 2023
Director
Andrew Peter LAYCOCK
Company Number
10941784 (England and Wales)
Registered Office
71-75 SHELTON STREET
COVENT GARDEN
LONDON
WC2H 9JQ
UNITED KINGDOM
CYC LIMITED
Statement of financial position
as at 30 September 2023
Investments
2,493,342
621,457
Cash at bank and in hand
300
675
Creditors: amounts falling due within one year
(1,255,343)
(684,248)
Net current liabilities
(1,255,043)
(654,584)
Net assets/(liabilities)
1,238,783
(32,481)
Called up share capital
10
10
Revaluation reserve
1,302,609
36,942
Profit and loss account
(63,836)
(69,433)
Shareholders' funds
1,238,783
(32,481)
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 June 2024 and were signed on its behalf by
Andrew Peter LAYCOCK
Director
Company Registration No. 10941784
CYC LIMITED
Notes to the Accounts
for the year ended 30 September 2023
CYC LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10941784. The registered office is 71-75 SHELTON STREET, COVENT GARDEN, LONDON, WC2H 9JQ, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% reducing balance
4
Tangible fixed assets
Computer equipment
At 30 September 2023
2,287
At 30 September 2023
1,803
CYC LIMITED
Notes to the Accounts
for the year ended 30 September 2023
5
Investments
Other investments
Valuation at 1 October 2022
621,457
Fair value adjustments
1,300,790
Valuation at 30 September 2023
2,493,342
There is an unrealized revaluation gain in the year ending 30.09.2023(£1302,609) on the option value. This is recognized as a revaluation reserve until an asset is sold and get realized in the profit and loss account.
Amounts falling due within one year
Accrued income and prepayments
-
28,989
7
Creditors: amounts falling due within one year
2023
2022
Loans from directors
684,098
684,098
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).