Company Registration No. 11097425 (England and Wales)
Cyan Wealth Solutions Limited
Unaudited accounts
for the year ended 31 December 2024
Cyan Wealth Solutions Limited
Unaudited accounts
Contents
Cyan Wealth Solutions Limited
Company Information
for the year ended 31 December 2024
Directors
Simon Gilbert Ray
Anne Marie Ray
Company Number
11097425 (England and Wales)
Registered Office
11 BRENDON CLOSE
OLDLAND COMMON
BRISTOL
BS30 8QE
UNITED KINGDOM
Accountants
Vertical Consulting Ltd
18 Wellington Park
Clifton
Bristol
Bristol
BS8 2UT
Cyan Wealth Solutions Limited
Statement of financial position
as at 31 December 2024
Tangible assets
52,336
41,650
Cash at bank and in hand
285
7,046
Creditors: amounts falling due within one year
(34,071)
(55,859)
Net current assets/(liabilities)
4,235
(30,869)
Total assets less current liabilities
56,571
10,781
Creditors: amounts falling due after more than one year
(40,893)
-
Provisions for liabilities
Deferred tax
(13,084)
(10,413)
Called up share capital
2
2
Profit and loss account
2,592
366
Shareholders' funds
2,594
368
For the year ending 31 December 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2025 and were signed on its behalf by
Simon Gilbert Ray
Director
Company Registration No. 11097425
Cyan Wealth Solutions Limited
Notes to the Accounts
for the year ended 31 December 2024
Cyan Wealth Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 11097425. The registered office is 11 BRENDON CLOSE, OLDLAND COMMON, BRISTOL, BS30 8QE, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Over 6 years on cost ( on a straight line basis )
Motor vehicles
15% on a reducing balance basis
Computer equipment
Over 6 years on cost ( on a straight line basis )
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Cyan Wealth Solutions Limited
Notes to the Accounts
for the year ended 31 December 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 January 2024
27,680
49,790
77,470
Additions
4,773
51,860
56,633
Disposals
-
(49,790)
(49,790)
At 31 December 2024
32,453
51,860
84,313
At 1 January 2024
21,254
14,566
35,820
Charge for the year
2,944
7,779
10,723
On disposals
-
(14,566)
(14,566)
At 31 December 2024
24,198
7,779
31,977
At 31 December 2024
8,255
44,081
52,336
At 31 December 2023
6,426
35,224
41,650
Amounts falling due within one year
Accrued income and prepayments
29,495
14,575
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
4,875
34,725
Taxes and social security
11,451
12,150
Loans from directors
13,048
935
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
40,893
-
Cyan Wealth Solutions Limited
Notes to the Accounts
for the year ended 31 December 2024
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).