Company No: 12194739 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR	J F Kelly Jr (Appointed 01 October 2024)
	J R Pike (Resigned 01 October 2024)

REGISTERED OFFICE	5th Floor 10 Finsbury Square
	London
	EC2A 1AF
	United Kingdom

COMPANY NUMBER

12194739 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	Wey Court West
	Union Road
	Farnham
	Surrey
	GU9 7PT

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	122,066		169,323
		122,066		169,323
Current assets
Debtors	4	9,600		3,234
Cash at bank and in hand		4,022		3,901
		13,622		7,135
Creditors: amounts falling due within one year	5	( 234,608)		( 219,029)
Net current liabilities		(220,986)		(211,894)
Total assets less current liabilities		(98,920)		(42,571)
Net liabilities		( 98,920)		( 42,571)
Capital and reserves
Called-up share capital		100		100
Profit and loss account		( 99,020 )		( 42,671 )
Total shareholder's deficit		( 98,920)		( 42,571)

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

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Cyan London Limited (registered number: 12194739) were approved and authorised for issue by the Director on 30 September 2025. They were signed on its behalf by:

J F Kelly Jr Director

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

Cyan London 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 5th Floor 10 Finsbury Square, London, EC2A 1AF, United Kingdom.

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

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

At the balance sheet date the company had net liabilities of £98,920 (2023: net liabilities of £42,571). The parent company has confirmed their support for the foreseeable future. Therefore, the accounts have been prepared on the going concern basis.

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 except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs

5 years straight line

Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the director is satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and six years. Provision is made for any impairment.
It is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Employee Numbers

The Company has no employees other than the director, who did not receive any remuneration (2023 - £Nil)

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	0		0

3. Intangible assets

	Development costs		Total
	£		£
Cost
At 01 October 2023	310,773		310,773
Additions	17,700		17,700
At 30 September 2024	328,473		328,473
Accumulated amortisation
At 01 October 2023	141,450		141,450
Charge for the financial year	64,957		64,957
At 30 September 2024	206,407		206,407
Net book value
At 30 September 2024	122,066		122,066
At 30 September 2023	169,323		169,323

4. Debtors

	2024		2023
	£		£
Trade debtors	9,600		0
Other debtors	0		3,234
	9,600		3,234

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	7,200		6,664
Amounts owed to Group undertakings	224,802		210,619
Accruals	1,798		1,746
Other taxation and social security	808		0
	234,608		219,029