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Cybertooling Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Bencroft Dassels
Braughing
Ware
Herts
SG11 2RW
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 05375783
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,016,806 941,622
1,016,806 941,622
CURRENT ASSETS
Cash at bank and in hand 4,751 7,453
4,751 7,453
Creditors: Amounts Falling Due Within One Year 5 (191,778 ) (191,206 )
NET CURRENT ASSETS (LIABILITIES) (187,027 ) (183,753 )
TOTAL ASSETS LESS CURRENT LIABILITIES 829,779 757,869
Creditors: Amounts Falling Due After More Than One Year 6 (269,301 ) (297,717 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (93,979 ) (70,208 )
NET ASSETS 466,499 389,944
CAPITAL AND RESERVES
Called up share capital 8 2 2
Revaluation reserve 9 384,560 299,176
Income Statement 81,937 90,766
SHAREHOLDERS' FUNDS 466,499 389,944
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Paul Brown
Director
17/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Cybertooling Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05375783 . The registered office is Unit 2 Plot 6, Watermill Industrial Estate, Aspenden Road Buntingford, Hertfordshire, SG9 9JS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
Plant & Machinery 15% on reducing balance
Fixtures & Fittings 25% on reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost or Valuation
As at 1 April 2023 889,616 80,282 104,927 1,074,825
Revaluation 85,384 - - 85,384
As at 31 March 2024 975,000 80,282 104,927 1,160,209
Depreciation
As at 1 April 2023 - 52,259 80,944 133,203
Provided during the period - 4,204 5,996 10,200
As at 31 March 2024 - 56,463 86,940 143,403
Net Book Value
As at 31 March 2024 975,000 23,819 17,987 1,016,806
As at 1 April 2023 889,616 28,023 23,983 941,622
Cost or valuation as at 31 March 2024 represented by:
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
At cost 975,000 80,282 104,927 1,160,209
975,000 80,282 104,927 1,160,209
Included in cost or valuation of land and buildings is freehold land of £975,000 (2023 - £889,616) which is not depreciated.
Freehold land and buildings were valued on an open market basis on 12 March 2024 by Glenny LLP
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5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 28,333 27,130
Amounts owed to participating interests 158,000 158,000
Other creditors 1,722 1,723
Taxation and social security 3,723 4,353
191,778 191,206
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 269,301 297,717
269,301 297,717
7. Secured Creditors
The bank loans are secured on the freehold property owned by the company. 
2024 2023
£ £
Bank loans and overdrafts 297,634 324,847
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. Reserves
Revaluation Reserve
£
As at 1 April 2023 299,176
Surplus on revaluation 85,384
As at 31 March 2024 384,560
Page 5