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Registered Number: 12204451
England and Wales

 

 

 

CYDEA LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 October 2023

End date: 30 September 2024
Director Mr Robin Thomas Oldham
Registered Number 12204451
Registered Office 99 Park Drive
Milton Park
Abingdon
OX14 4RY
Accountants Cypher
Monkswell
Little Baldon
Oxford
OX44 9PU
1
Director's report and financial statements
The director presents his annual report and the financial statements for the year ended 30 September 2024.
Principal activities
Principal activity of the company during the financial year was of Cyber Security Services and Management consultancy activities other than financial management.
Director
The director who served the company throughout the year was as follows:
Mr Robin Thomas Oldham
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Mr Robin Thomas Oldham
Director

Date approved: 28 April 2025
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 352,435   
Tangible fixed assets 4 17,180    11,803 
369,615    11,803 
Current assets      
Debtors 5 293,620    148,174 
Cash at bank and in hand 186,374    112,162 
479,994    260,336 
Creditors: amount falling due within one year 6 (295,676)   (95,109)
Net current assets 184,318    165,227 
 
Total assets less current liabilities 553,933    177,030 
Accruals and deferred income (237,846)   (93,908)
Net assets 316,087    83,122 
 

Capital and reserves
     
Called up share capital 1,000    1,000 
Profit and loss account 315,087    82,122 
Shareholders' funds 316,087    83,122 
 


For the year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 28 April 2025 and were signed by:


-------------------------------
Mr Robin Thomas Oldham
Director
3
General Information
Cydea Ltd is a private company, limited by shares, registered in England and Wales, registration number 12204451, registration address 99 Park Drive, Milton Park, Abingdon, OX14 4RY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Research and development expenditure
Development expenditure is capitalised only where the recognition criteria under FRS 102 are met, including the technical feasibility and intention to complete the project, the ability to generate future economic benefits, and the reliable measurement of costs.
Capitalised development costs are amortised over their estimated useful life of 5 years. Expenditure that does not meet the criteria is expensed as incurred.
Website cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Computer software development costs
Development costs of computer software are capitalised once a detailed program design has been established and are amortised on a straight line basis over 5 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Straight Line
Computer Equipment 33.33% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 11 (2023 : 6).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 October 2023  
Additions 440,543    440,543 
Disposals  
At 30 September 2024 440,543    440,543 
Amortisation
At 01 October 2023  
Charge for year 88,108    88,108 
On disposals  
At 30 September 2024 88,108    88,108 
Net book values
At 30 September 2024 352,435    352,435 
At 30 September 2023  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 October 2023 672    30,658    31,330 
Additions   13,388    13,388 
Disposals    
At 30 September 2024 672    44,046    44,718 
Depreciation
At 01 October 2023 672    26,866    27,538 
Charge for year    
On disposals    
At 30 September 2024 672    26,866    27,538 
Net book values
Closing balance as at 30 September 2024   17,180    17,180 
Opening balance as at 01 October 2023   11,803    11,803 


5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 92,015    68,549 
Prepayments & Accrued Income 15,422    12,950 
Accrued Income 169,029    51,553 
Other Debtors 250    250 
Corporation Tax   14,872 
VAT 16,904   
293,620    148,174 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 81,062    37,619 
Corporation Tax 104,464   
PAYE & Social Security 16,244    9,809 
Accrued Expenses 30,126    21,717 
Other Creditors 5,270    3,531 
Wages & Salaries Control Account 210   
Directors' Current Accounts 58,300    5,000 
VAT   17,433 
295,676    95,109 

4