Company registration number 08686981 (England and Wales)
THE CYBER SCHEME LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
THE CYBER SCHEME LIMITED
COMPANY INFORMATION
Directors
Mr C D White
Mr R H Jarvis
Mr A Jones
Secretary
Mr R H Jarvis
Company number
08686981
Registered office
Elgar Tower
Montpellier Drive
Cheltenham
GL50 1TA
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds Bank Plc
Caxton Gate
3 Corporation Street
Birmingham
B2 4LP
THE CYBER SCHEME LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
THE CYBER SCHEME LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE CYBER SCHEME LIMITED FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Cyber Scheme Limited for the year ended 31 March 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of The Cyber Scheme Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Cyber Scheme Limited and state those matters that we have agreed to state to the board of directors of The Cyber Scheme Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Cyber Scheme Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that The Cyber Scheme Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Cyber Scheme Limited. You consider that The Cyber Scheme Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Cyber Scheme Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
26 November 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
THE CYBER SCHEME LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 2 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
3
240,833
205,676
Tangible assets
4
28,549
35,329
269,382
241,005
Current assets
Debtors
5
63,424
26,980
Cash at bank and in hand
116,809
265,368
180,233
292,348
Creditors: amounts falling due within one year
6
(226,977)
(323,083)
Net current liabilities
(46,744)
(30,735)
Total assets less current liabilities
222,638
210,270
Provisions for liabilities
7
-
0
(2,249)
Net assets
222,638
208,021
Capital and reserves
Called up share capital
8
57
2
Profit and loss reserves
222,581
208,019
Total equity
222,638
208,021

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

THE CYBER SCHEME LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 26 November 2024 and are signed on its behalf by:
Mr C D White
Mr R H Jarvis
Director
Director
Company registration number 08686981 (England and Wales)
THE CYBER SCHEME LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

The Cyber Scheme Limited is a private company limited by shares incorporated in England and Wales. The registered office is Elgar Tower, Montpellier Drive, Cheltenham, England, GL50 1TA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Development costs
Over 3 years
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% on cost
Computer equipment
33% on cost
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

THE CYBER SCHEME LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
11
11
THE CYBER SCHEME LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
3
Intangible fixed assets
Development costs
£
Cost
At 1 April 2023
205,676
Additions - internally developed
83,727
Additions - separately acquired
20,000
At 31 March 2024
309,403
Amortisation and impairment
At 1 April 2023
-
0
Amortisation charged for the year
68,570
At 31 March 2024
68,570
Carrying amount
At 31 March 2024
240,833
At 31 March 2023
205,676
4
Tangible fixed assets
Leasehold improvements
Computer equipment
Total
£
£
£
Cost
At 1 April 2023
17,750
83,232
100,982
Additions
-
0
10,077
10,077
At 31 March 2024
17,750
93,309
111,059
Depreciation and impairment
At 1 April 2023
1,775
63,878
65,653
Depreciation charged in the year
1,775
15,082
16,857
At 31 March 2024
3,550
78,960
82,510
Carrying amount
At 31 March 2024
14,200
14,349
28,549
At 31 March 2023
15,975
19,354
35,329
THE CYBER SCHEME LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
18,660
23,464
Other debtors
38,585
3,516
Deferred tax asset
6,179
-
0
63,424
26,980
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
43,777
68,586
Taxation and social security
55,526
45,547
Other creditors
127,674
208,950
226,977
323,083
7
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
-
0
2,249
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
-
2
-
2
Ordinary A of £0.01 each
5,700
-
57
-
5,700
2
57
2

During the year, the company under went a share reorganisation.

 

49 Ordinary A £1 shares were issued and fully paid for cash at par during the year.

 

The company then passed a special resolution by sub dividing 51 Ordinary A £1 shares into 5,100 Ordinary A £0.01 shares. The rights and privileges attached to these shares remain unaltered.

 

Subsequently, 600 Ordinary A shares of £0.01 were issued and paid for cash at par during the year as well.

THE CYBER SCHEME LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
9
Share-based payment transactions

The company has issued share options under an Enterprise Management Incentive scheme to certain key employees. The scheme is an equity settled scheme and options granted under the scheme have a maximum life of ten years.

 

The key terms and conditions relating to the options issued within The Cyber Scheme Limited under the scheme are as follows:

Number of options
Weighed average exercise price (£)
Vesting conditions
Contractual life of options
2,500
19.72
Vesting conditions in the event of an exit.
10 years from grant date
At the discretion of the Board of Directors
10
Ultimate controlling party

The ultimate controlling party is Mr C D White.

11
Prior period adjustment
Reconciliation of changes in equity
1 April
31 March
2022
2023
£
£
Adjustments to prior year
Increase in intangible assets
-
87,840
Equity as previously reported
42,306
120,181
Equity as adjusted
42,306
208,021
Analysis of the effect upon equity
Profit and loss reserves
-
87,840
Reconciliation of changes in profit for the previous financial period
2023
£
Adjustments to prior year
Increase in intangible assets
87,840
Profit as previously reported
77,875
Profit as adjusted
165,715
Notes to reconciliation
Increase in intangible assets

A prior year adjustment has been made to adjust for development costs being reclassified as an intangible asset.

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