Company No:
Contents
| 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 |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| 6,590 | 19,739 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 533,228 | 1,775,653 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current assets | 264,090 | 1,555,534 | ||
| Total assets less current liabilities | 270,680 | 1,575,273 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Share premium account |
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| Profit and loss account | (
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Cyclr Systems Limited (registered number:
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F Davidson
Director |
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.
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.
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.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.
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 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.
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.
| Fixtures and fittings |
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| Computer equipment |
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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 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.
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.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Fixtures and fittings | Computer equipment | Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 01 December 2023 |
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| Disposals |
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| At 30 November 2024 |
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| Accumulated depreciation | |||||
| At 01 December 2023 |
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| Charge for the financial year |
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| Disposals |
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| At 30 November 2024 |
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| Net book value | |||||
| At 30 November 2024 |
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| At 30 November 2023 |
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| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors |
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| Corporation tax |
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| Other debtors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Trade creditors |
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| Amounts owed to Group undertakings |
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| Other taxation and social security |
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| Other creditors |
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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.
The ultimate controlling party is P Bryan and F Davidson, by virtue of their shareholding and directorship.