Company registration number 08052630 (England and Wales)
CYBERLIVER LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
CYBERLIVER LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 9
CYBERLIVER LIMITED
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
1,428,775
1,129,696
Tangible assets
5
2,636
2,708
1,431,411
1,132,404
Current assets
Debtors
6
111,223
31,357
Cash at bank and in hand
210,930
125,206
322,153
156,563
Creditors: amounts falling due within one year
7
(318,536)
(178,622)
Net current assets/(liabilities)
3,617
(22,059)
Total assets less current liabilities
1,435,028
1,110,345
Creditors: amounts falling due after more than one year
8
(915,585)
(611,494)
Net assets
519,443
498,851
Capital and reserves
Called up share capital
9
92
92
Share premium account
375,617
375,617
Capital redemption reserve
32,286
32,286
Profit and loss reserves
111,448
90,856
Total equity
519,443
498,851
CYBERLIVER LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2024
31 May 2024
- 2 -

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

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.

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.

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

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

The financial statements were approved by the board of directors and authorised for issue on 23 May 2025 and are signed on its behalf by:
Mr R Boddu
Director
Company registration number 08052630 (England and Wales)
CYBERLIVER LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
Share capital
Share premium account
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 June 2022
85
-
0
32,286
208,886
241,257
Year ended 31 May 2023:
Loss and total comprehensive income
-
-
-
(118,030)
(118,030)
Issue of share capital
9
7
375,617
-
-
375,624
Balance at 31 May 2023
92
375,617
32,286
90,856
498,851
Year ended 31 May 2024:
Profit and total comprehensive income
-
-
-
20,592
20,592
Balance at 31 May 2024
92
375,617
32,286
111,448
519,443
CYBERLIVER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
1
Accounting policies
Company information

Cyberliver Limited is a private company limited by shares incorporated in England and Wales. The registered office is First Floor, Burnells, 5 Garland Road, Stanmore, Middlesex, HA7 1NR.

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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured 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.

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:

Patents & licences
5 years straight line
Development costs
5 years straight line
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:

Computers
3 years straight line
CYBERLIVER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash at bank only.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade debtors, other debtors and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including trade creditors, corporation tax, and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Compound instruments

The component parts of compound instruments issued by the company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement. At the date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar non-convertible instrument. This amount is recorded as a liability on an amortised cost basis using the effective interest method until extinguished upon conversion or at the instrument's maturity date. The equity component is determined by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This is recognised and included in equity net of income tax effects and is not subsequently remeasured.

CYBERLIVER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 6 -
1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of fixed assets.

1.12
Retirement benefits

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

1.13
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2024
2023
Number
Number
Total
1
1
CYBERLIVER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 7 -
4
Intangible fixed assets
Patents & licences
Development costs
Total
£
£
£
Cost
At 1 June 2023
23,797
1,107,055
1,130,852
Additions
22,966
283,637
306,603
Disposals
(6,151)
-
0
(6,151)
At 31 May 2024
40,612
1,390,692
1,431,304
Amortisation and impairment
At 1 June 2023
1,156
-
0
1,156
Amortisation charged for the year
1,373
-
0
1,373
At 31 May 2024
2,529
-
0
2,529
Carrying amount
At 31 May 2024
38,083
1,390,692
1,428,775
At 31 May 2023
22,641
1,107,055
1,129,696
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023
3,611
Additions
1,411
At 31 May 2024
5,022
Depreciation and impairment
At 1 June 2023
903
Depreciation charged in the year
1,483
At 31 May 2024
2,386
Carrying amount
At 31 May 2024
2,636
At 31 May 2023
2,708
CYBERLIVER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 8 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
97,918
-
0
Other debtors
13,305
31,357
111,223
31,357
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
38,792
48,688
Other creditors
279,744
129,934
318,536
178,622
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Convertible loans
355,928
355,928
Other creditors
559,657
255,566
915,585
611,494

The convertible loan balance of £355,928 has interest accruing at a rate of 4% per annum on the principle amount.

 

CYBERLIVER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 9 -
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 0.01p each
480,800
480,800
48
48
A shares of 0.01p each
369,100
369,100
37
37
849,900
849,900
85
85
2024
2023
2024
2023
Preference share capital
Number
Number
£
£
Issued and fully paid
Redeemable preference shares of 0.01p each
70,739
70,739
7
7
Preference shares classified as equity
7
7
Total equity share capital
92
92

 

10
Related party transactions

During the year, the company has transacted with related companies with common shareholders, These transactions amounted to an aggregated value of £388,929 (2023: £191,834).

 

At the reporting date, included within other creditors falling due after more than one year are aggregated balances of £559,657 (2023: £255,566) due to related companies. In addition, included within convertible loans falling due after more than one year are loans of £245,219 (2023: £245,219) with related companies.

 

Included within creditors falling due within one year is a balance of £58,656 (2023: £61,007) due to directors of the company. These loans are interest free and repayable on demand.

11
Events after the reporting date

After the year end the company issued 165,000 Ordinary £0.0001 shares for a total consideration of £17.

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