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COMPANY REGISTRATION NUMBER: 15806104
Cybanetix Midco 1 Limited
Filleted Financial Statements
31 January 2025
Cybanetix Midco 1 Limited
Statement of Financial Position
31 January 2025
31 Jan 25
Note
£
Fixed assets
Investments
5
1
Current assets
Debtors
6
24,554,603
Creditors: amounts falling due within one year
7
12,932,635
-------------
Net current assets
11,621,968
-------------
Total assets less current liabilities
11,621,969
Creditors: amounts falling due after more than one year
8
12,243,030
-------------
Net liabilities
( 621,061)
-------------
Capital and reserves
Called up share capital
1
Profit and loss account
( 621,062)
---------
Shareholders deficit
( 621,061)
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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 were approved by the board of directors and authorised for issue on 20 June 2025 , and are signed on behalf of the board by:
M B Jakobsen
Director
Company registration number: 15806104
Cybanetix Midco 1 Limited
Notes to the Financial Statements
Period from 27 June 2024 to 31 January 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 123 Victoria Street, London, SW1E 6DE, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the exemption from preparing consolidated financial statements as its results are consolidated by its parent company Cybanetix Topco Limited. The parent's consolidated financial statements can be obtained from the registered office at 123 Victoria Street, London, England, SW1E 6DE.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the period amounted to nil.
5. Investments
Shares in group undertakings
£
Cost
At 27 June 2024
Additions
1
----
At 31 January 2025
1
----
Impairment
At 27 June 2024 and 31 January 2025
----
Carrying amount
At 31 January 2025
1
----
6. Debtors
31 Jan 25
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
24,550,003
Other debtors
4,600
-------------
24,554,603
-------------
7. Creditors: amounts falling due within one year
31 Jan 25
£
Trade creditors
11,480
Amounts owed to group undertakings and undertakings in which the company has a participating interest
12,915,155
Other creditors
6,000
-------------
12,932,635
-------------
8. Creditors: amounts falling due after more than one year
31 Jan 25
£
Other creditors
12,243,030
-------------
Creditors due greater than one year represent loan notes which are repayable in 2034. Interest is charged at 12% per annum.
9. Summary audit opinion
The auditor's report dated 23 June 2025 was unqualified .
The senior statutory auditor was Terrence Bourne , for and on behalf of Moore Kingston Smith LLP .
10. Related party transactions
As a wholly owned subsidiary of Cybanetix Topco Limited, the Company is exempt from the requirement of FRS 102 paragraph 33.1A to disclose transactions with other members of the Group.
11. Controlling party
The company is a wholly owned subsidiary of Cybanetix Topco Limited , a company incorporated in England and Wales. The parent's consolidated financial statements can be obtained from the registered office at 123 Victoria Street, London, England, SW1E 6DE.