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Registration number: 11180219

Cyberserv Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Cyberserv Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Cyberserv Ltd

Company Information

Director

S Fernandes

Registered office

71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

Accountants

Clever Accounts LTD
Brookfield Court
Selby Road
Garforth, Leeds
LS25 1NB

 

Cyberserv Ltd

(Registration number: 11180219)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,384

797

Current assets

 

Debtors

13,039

22,038

Cash at bank and in hand

 

2,287

1,472

 

15,326

23,510

Creditors: Amounts falling due within one year

(4,289)

-

Net current assets

 

11,037

23,510

Total assets less current liabilities

 

12,421

24,307

Creditors: Amounts falling due after more than one year

(24,658)

(28,083)

Net liabilities

 

(12,237)

(3,776)

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

(12,337)

(3,876)

Shareholders' deficit

 

(12,237)

(3,776)

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 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 director acknowledges his 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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Cyberserv Ltd

(Registration number: 11180219)
Balance Sheet as at 31 January 2024

Approved and authorised by the director on 16 September 2024
 

.........................................

S Fernandes
Director

 

Cyberserv Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom .

The address of its registered office is:
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ
England

These financial statements were authorised for issue by the director on 16 September 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 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 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.

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.

 

Cyberserv Ltd

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

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.

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

Computer Equipment

Over Three Years

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.

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.

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.

 

Cyberserv Ltd

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Cyberserv Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

3,408

3,408

Additions

1,478

1,478

At 31 January 2024

4,886

4,886

Depreciation

At 1 February 2023

2,611

2,611

Charge for the year

891

891

At 31 January 2024

3,502

3,502

Carrying amount

At 31 January 2024

1,384

1,384

At 31 January 2023

797

797

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

6

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

24,658

28,083

7

Related party transactions

 

Cyberserv Ltd

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

Transactions with the director

2024

At 1 February 2023
£

At 31 January 2024
£

S Fernandes

Director's Loan

(27,824)

(27,824)

2023

At 1 February 2022
£

At 31 January 2023
£

S Fernandes

Director's Loan

(27,824)

(27,824)