Cetus Innovate Limited,Ltd - AccountsLtd - Accounts

Cetus Innovate Limited,Ltd - AccountsLtd - Accounts

CETUS INNOVATE LIMITED - Company Information

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2021-03-01 05045630 2022-02-28 05045630 2021-03-01 2022-02-28 05045630 2021-02-28 05045630 2020-03-01 2021-02-28 05045630 uk-core:WithinOneYear 2021-02-28 05045630 uk-core:WithinOneYear 2022-02-28 05045630 uk-core:ShareCapital 2022-02-28 05045630 uk-core:ShareCapital 2021-02-28 05045630 uk-core:RetainedEarningsAccumulatedLosses 2022-02-28 05045630 uk-core:RetainedEarningsAccumulatedLosses 2021-02-28 05045630 uk-bus:Director1 2021-03-01 2022-02-28 05045630 uk-core:ToolsEquipment 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure 05045630 uk-bus:AuditExemptWithAccountantsReport 2021-03-01 2022-02-28 05045630 uk-bus:FRS102 2021-03-01 2022-02-28 05045630 uk-bus:FullAccounts 2021-03-01 2022-02-28 05045630 uk-bus:PrivateLimitedCompanyLtd 2021-03-01 2022-02-28
Cetus Innovate Limited
Registered Number:05045630
For the year ended 28 February 2022
England and Wales
Unaudited Financial Statements
2
For the year ended 28 February 2022
Cetus Innovate Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
05045630
As at 28 February 2022
Cetus Innovate Limited
Statement of Financial Position
£
£
2021
2022
Notes
Fixed assets
Property, plant and equipment
1,131
1,589
2
1,131
1,589
Current assets
Trade and other receivables
21,769
2,899
3
172,540
Cash and cash equivalents
126,747
129,646
194,309
Trade and other payables: amounts falling due within one
year
(33,133)
(23,151)
4
161,176
106,495
Net current assets
Total assets less current liabilities
107,626
162,765
(215)
(302)
Provisions for liabilities
107,411
Net assets
162,463
Capital and reserves
Called up share capital
28,500
28,500
Retained earnings
78,911
133,963
107,411
162,463
Shareholders' funds
For the year ended 28 February 2022 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 of its financial statements for the year ended 28 February 2022 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Hardeep Singh Sidhu Director
These financial statements were approved and authorised for issue by the Board on 10 November 2022 and were signed by:
The notes form part of these financial statements
1 of 3
4
For the year ended 28 February 2022
Cetus Innovate Limited
Notes to the Financial Statements
Statutory Information
Cetus Innovate Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 05045630.
Registered address:
Tavastland
Baslow Road
Bakewell
DE45 1AB
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover reflects the fair value of goods and services supplied to each customer based on the extent to which the company has fulfilled its obligations under the sales contract. Turnover excludes VAT.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
20% Straight line
Computer equipment
2. Property, plant and equipment
Computer
equipment
£
Cost or
valuation
At 01 March 2021
2,292
At 28 February 2022
2,292
Provision for depreciation and impairment
At 01 March 2021
703
Charge for year
458
At 28 February 2022
1,161
At 28 February 2022
Net book value
1,131
At 28 February 2021
1,589
2 of 3
5
For the year ended 28 February 2022
Cetus Innovate Limited
Notes to the Financial Statements Continued
3. Trade and other receivables
2021
2022
£
£
Trade debtors
-
5,340
Other debtors
2,899
16,429
21,769
2,899
4. Trade and other payables: amounts falling due within one year
2021
2022
£
£
Trade creditors
56
101
Taxation and social security
18
9,644
Other creditors
23,077
23,388
23,151
33,133
5. Average number of persons employed
During the year the average number of employees was 1 (2021 : 1)
3 of 3