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Company No: 10571629 (England and Wales)

SCRYER LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

SCRYER LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

SCRYER LIMITED

BALANCE SHEET

As at 31 January 2024
SCRYER LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Restated - note 2
Fixed assets
Intangible assets 4 446 495
Tangible assets 5 9,687 3,916
10,133 4,411
Current assets
Debtors 6 55,570 104,618
Cash at bank and in hand 7 25,208 22,618
80,778 127,236
Creditors: amounts falling due within one year 8 ( 10,817) ( 30,964)
Net current assets 69,961 96,272
Total assets less current liabilities 80,094 100,683
Net assets 80,094 100,683
Capital and reserves
Called-up share capital 100 100
Profit and loss account 79,994 100,583
Total shareholder's funds 80,094 100,683

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.

Director's responsibilities:

The financial statements of Scryer Limited (registered number: 10571629) were approved and authorised for issue by the Director. They were signed on its behalf by:

James Holland
Director

29 October 2024

SCRYER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
SCRYER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Scryer Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Larking Gowen 1st Floor Prospect House, Rouen Road, Norwich, NR1 1RE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Prior year adjustment

The prior year has been adjusted for a deferred tax provision that is no longer accurate to recognise in the 2023 period due to a change in the CT600 that was submitted to HMRC after the date of filing of the accounts to 31st January 2023. The net effect of this adjustment has reduced the retained earnings and deferred tax provision asset by £42,330.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 15 years straight line
Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 15 years straight line
Computer equipment 15 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved.

2. Prior year adjustment

The prior year has been adjusted for a deferred tax provision that is no longer accurate to recognise in the 2023 period due to a change in the CT600 that was submitted to HMRC after the date of filing of the accounts to 31st January 2023. The net effect of this adjustment has reduced the retained earnings and deferred tax provision asset by £42,330.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 5 5

4. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 February 2023 740 740
At 31 January 2024 740 740
Accumulated amortisation
At 01 February 2023 245 245
Charge for the financial year 49 49
At 31 January 2024 294 294
Net book value
At 31 January 2024 446 446
At 31 January 2023 495 495

5. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 February 2023 441 14,662 15,103
Additions 500 8,374 8,874
At 31 January 2024 941 23,036 23,977
Accumulated depreciation
At 01 February 2023 110 11,077 11,187
Charge for the financial year 183 2,920 3,103
At 31 January 2024 293 13,997 14,290
Net book value
At 31 January 2024 648 9,039 9,687
At 31 January 2023 331 3,585 3,916

6. Debtors

2024 2023
£ £
Trade debtors 0 45,040
Deferred tax asset 55,570 55,678
Other debtors 0 3,900
55,570 104,618

7. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 25,208 22,618

8. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 360 229
Amounts owed to director 11 1,011
Other taxation and social security 9,267 28,745
Other creditors 1,179 979
10,817 30,964

9. Deferred tax

2024 2023
£ £
At the beginning of financial year 55,678 42,972
(Charged)/credited to the Profit and Loss Account ( 108) 12,706
At the end of financial year 55,570 55,678

10. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

The pension cost charge represents contribution payable by the company to the fund and amounted to £ 3,332 (2023- £ 3,053). Contributions totalling £ 663 (2023 - £ 957) were payable at balance sheet date and are included in creditors.