CyberOne Limited 05585059 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is the provision of cyber security managed services Digita Accounts Production Advanced 6.30.9574.0 true true 05585059 2023-02-01 2024-01-31 05585059 2024-01-31 05585059 bus:Director2 1 2024-01-31 05585059 bus:OrdinaryShareClass1 2024-01-31 05585059 core:RetainedEarningsAccumulatedLosses 2024-01-31 05585059 core:ShareCapital 2024-01-31 05585059 core:CurrentFinancialInstruments 2024-01-31 05585059 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 05585059 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 05585059 core:FurnitureFittingsToolsEquipment 2024-01-31 05585059 core:OtherPropertyPlantEquipment 2024-01-31 05585059 core:OtherRelatedParties 2024-01-31 05585059 bus:SmallEntities 2023-02-01 2024-01-31 05585059 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 05585059 bus:AbridgedAccounts 2023-02-01 2024-01-31 05585059 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 05585059 bus:RegisteredOffice 2023-02-01 2024-01-31 05585059 bus:Director2 2023-02-01 2024-01-31 05585059 bus:Director2 1 2023-02-01 2024-01-31 05585059 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 05585059 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05585059 1 2023-02-01 2024-01-31 05585059 core:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 05585059 core:ShareCapital 2023-02-01 2024-01-31 05585059 core:FurnitureFittings 2023-02-01 2024-01-31 05585059 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 05585059 core:OfficeEquipment 2023-02-01 2024-01-31 05585059 core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 05585059 core:PlantMachinery 2023-02-01 2024-01-31 05585059 core:OtherRelatedParties 2023-02-01 2024-01-31 05585059 countries:EnglandWales 2023-02-01 2024-01-31 05585059 2023-01-31 05585059 bus:Director2 1 2023-01-31 05585059 core:RetainedEarningsAccumulatedLosses 2023-01-31 05585059 core:ShareCapital 2023-01-31 05585059 core:FurnitureFittingsToolsEquipment 2023-01-31 05585059 core:OtherPropertyPlantEquipment 2023-01-31 05585059 core:OtherRelatedParties 2023-01-31 05585059 2022-02-01 2023-01-31 05585059 2023-01-31 05585059 bus:Director2 1 2023-01-31 05585059 bus:OrdinaryShareClass1 2023-01-31 05585059 core:CurrentFinancialInstruments 2023-01-31 05585059 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 05585059 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 05585059 core:FurnitureFittingsToolsEquipment 2023-01-31 05585059 core:OtherPropertyPlantEquipment 2023-01-31 05585059 core:OtherRelatedParties 2023-01-31 05585059 bus:Director2 1 2022-02-01 2023-01-31 05585059 core:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 05585059 core:ShareCapital 2022-02-01 2023-01-31 05585059 2022-01-31 05585059 bus:Director2 1 2022-01-31 05585059 core:RetainedEarningsAccumulatedLosses 2022-01-31 05585059 core:ShareCapital 2022-01-31 05585059 core:OtherRelatedParties 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05585059

CyberOne Limited
(formerly Comtact Limited)

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 January 2024

 

CyberOne Limited
(formerly Comtact Limited)

(Registration number: 05585059)
Abridged Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Tangible assets

4

29,879

36,845

Current assets

 

Debtors

5

2,173,788

2,171,290

Cash at bank and in hand

 

84,448

130,955

 

2,258,236

2,302,245

Prepayments and accrued income

 

903,305

1,021,772

Creditors: Amounts falling due within one year

(1,321,445)

(1,147,576)

Net current assets

 

1,840,096

2,176,441

Total assets less current liabilities

 

1,869,975

2,213,286

Creditors: Amounts falling due after more than one year

(100,000)

(150,000)

Provisions for liabilities

(9,318)

(9,318)

Accruals and deferred income

 

(1,358,638)

(1,418,032)

Net assets

 

402,019

635,936

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

401,919

635,836

Shareholders' funds

 

402,019

635,936

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

CyberOne Limited
(formerly Comtact Limited)

(Registration number: 05585059)
Abridged Balance Sheet as at 31 January 2024

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 22 October 2024 and signed on its behalf by:
 

.........................................
D J I List
Director

 

CyberOne Limited
(formerly Comtact Limited)

Statement of Changes in Equity for the Year Ended 31 January 2024

Share capital
£

Retained earnings
£

Total
£

At 1 February 2023

100

635,835

635,935

Profit for the year

-

6,084

6,084

Dividends

-

(240,000)

(240,000)

At 31 January 2024

100

401,919

402,019

Share capital
£

Retained earnings
£

Total
£

At 1 February 2022

100

1,070,450

1,070,550

Profit for the year

-

238,986

238,986

Dividends

-

(673,600)

(673,600)

At 31 January 2023

100

635,836

635,936

 

CyberOne Limited
(formerly Comtact Limited)

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

1

General information

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

The company was formerly known as Comtact Limited.

The address of its registered office is:
Suite 6 Linford Forum
18 Rockingham Drive
Milton Keynes
Bucks
MK14 6LY

These financial statements were authorised for issue by the Board on 22 October 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 abridged 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 abridged 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.

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.

Government grants

Grants are recorded on a receivable basis.

 

CyberOne Limited
(formerly Comtact Limited)

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Plant and machinery

20% reducing balance basis

Furniture and fittings

15% reducing balance basis

Office equipment

20% reducing balance basis

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.

 

CyberOne Limited
(formerly Comtact Limited)

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

 

CyberOne Limited
(formerly Comtact Limited)

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 33 (2023 - 50).

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

175,759

50,408

226,167

At 31 January 2024

175,759

50,408

226,167

Depreciation

At 1 February 2023

140,615

48,707

189,322

Charge for the year

6,626

340

6,966

At 31 January 2024

147,241

49,047

196,288

Carrying amount

At 31 January 2024

28,518

1,361

29,879

At 31 January 2023

35,144

1,701

36,845

5

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £0.00 each

100,000

100.00

100,000

100.00

         
 

CyberOne Limited
(formerly Comtact Limited)

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

7

Related party transactions

Transactions with directors

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

D J I List

Directors loan account

(240,000)

(299,749)

240,000

(299,749)

         
       

 

2023

At 1 February 2022
£

Advances to director
£

Repayments by director
£

At 31 January 2023
£

D J I List

Directors loan account

(673,601)

(240,000)

673,601

(240,000)

         
       

 

Summary of transactions with other related parties

Digital Labs (Technologies) Ltd (a company under common control)
 Expenditure incurred and recharged
 

Loans to related parties

2024

Other related parties
£

Total
£

At start of period

630,086

630,086

At end of period

630,086

630,086

2023

Other related parties
£

Total
£

At start of period

630,086

630,086

At end of period

630,086

630,086