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Company No: 08790783 (England and Wales)

CYCLR SYSTEMS LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2024
Pages for filing with the registrar

CYCLR SYSTEMS LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2024

Contents

CYCLR SYSTEMS LIMITED

COMPANY INFORMATION

For the financial year ended 30 November 2024
CYCLR SYSTEMS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 November 2024
DIRECTORS A P Barrow
P Bryan
F Davidson
R M Linstead
E Rudd
C Smith
REGISTERED OFFICE Co.5C
Corinthian House
17 Lansdowne Road
Croydon
United Kingdom
COMPANY NUMBER 08790783 (England and Wales)
ACCOUNTANT S&W Partners LLP
4th Floor Cumberland House
15-17 Cumberland Place
Southampton
Hampshire
SO15 2BG
CYCLR SYSTEMS LIMITED

BALANCE SHEET

As at 30 November 2024
CYCLR SYSTEMS LIMITED

BALANCE SHEET (continued)

As at 30 November 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 6,590 19,739
6,590 19,739
Current assets
Debtors 4 421,563 741,909
Cash at bank and in hand 111,665 1,033,744
533,228 1,775,653
Creditors: amounts falling due within one year 5 ( 269,138) ( 220,119)
Net current assets 264,090 1,555,534
Total assets less current liabilities 270,680 1,575,273
Net assets 270,680 1,575,273
Capital and reserves
Called-up share capital 21,677 21,677
Share premium account 8,459,416 8,459,416
Profit and loss account ( 8,210,413 ) ( 6,905,820 )
Total shareholders' funds 270,680 1,575,273

For the financial year ending 30 November 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Cyclr Systems Limited (registered number: 08790783) were approved and authorised for issue by the Board of Directors on 02 June 2025. They were signed on its behalf by:

F Davidson
Director
CYCLR SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
CYCLR SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cyclr Systems Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Corinthian House, 17 Lansdowne Road, Croydon, England, CR0 2BX.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Cyclr Systems Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 10 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 38 49

3. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 December 2023 3,297 40,497 43,794
Disposals 0 ( 8,688) ( 8,688)
At 30 November 2024 3,297 31,809 35,106
Accumulated depreciation
At 01 December 2023 1,145 22,910 24,055
Charge for the financial year 659 10,054 10,713
Disposals 0 ( 6,252) ( 6,252)
At 30 November 2024 1,804 26,712 28,516
Net book value
At 30 November 2024 1,493 5,097 6,590
At 30 November 2023 2,152 17,587 19,739

4. Debtors

2024 2023
£ £
Trade debtors 222,810 217,803
Corporation tax 104,000 416,896
Other debtors 94,753 107,210
421,563 741,909

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 47,606 41,164
Amounts owed to Group undertakings 45,161 19,351
Other taxation and social security 55,975 75,699
Other creditors 120,396 83,905
269,138 220,119

6. Related party transactions

At the year end, the Company owed £45,161 (2023 - £19,351) to a related party. These loans are unsecured, interest free and repayable on demand.

7. Ultimate controlling party

The ultimate controlling party is P Bryan and F Davidson, by virtue of their shareholding and directorship.