Cyber Business Resource Limited Filleted accounts for Companies House (small and micro)

CYBER BUSINESS RESOURCE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10993273

Cyber Business Resource Limited

Filleted Unaudited Accounts

31 December 2020

Cyber Business Resource Limited

Statement of Financial Position

31 December 2020

	2020		2019
Note	£	£	£	£

Current assets

Debtors	5	135,640	8,572
Cash at bank and in hand		–	20,091
		---------	--------
		135,640	28,663

Creditors: amounts falling due within one year	6	( 184,197)		( 333,815)
		---------		---------
Net current liabilities			( 48,557)		( 305,152)
			--------		---------
Total assets less current liabilities			( 48,557)		( 305,152)
			--------		---------
Net liabilities			( 48,557)		( 305,152)
			--------		---------

Capital and reserves

Called up share capital	100	100
Other reserves	300,000	–
Profit and loss account	( 348,657)	( 305,252)
	---------	---------
Shareholders deficit	( 48,557)	( 305,152)
	---------	---------

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 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 comprehensive income has not been delivered.

For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts .

Cyber Business Resource Limited

Statement of Financial Position (continued)

31 December 2020

These accounts were approved by the board of directors and authorised for issue on 16 February 2022 , and are signed on behalf of the board by:

J E J Murphy

Director

Company registration number: 10993273

Cyber Business Resource Limited

Notes to the Accounts

Year ended 31 December 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The principal place of business is The Lodge, Ickleton Rd, Duxford, CB22 4RT

2. Statement of compliance

These accounts 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 accounts 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 accounts are prepared in sterling, which is the functional currency of the entity. The comparatives represent the period 1 December 2018 to 31 December 2019. The current year figures are for the year ended 31 December 2020.

Going concern

The balance sheet at 31 December 2020 was in a net liability position, the group members have agreed to support the company until the position has been rectified. The Directors have considered the impact of Covid-19 and Brexit on the company`s trade and are of the opinion the company will be able to continue with its normal pattern of trading and settle ongoing liabilities as they fall due, thus they consider they can continue to trade as a going concern.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Revenue is recognised at fair value over the term of the contract with respect to amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity 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 .

4. Staff costs

The average number of persons employed by the company during the year amounted to ( 4 ) (2019: Nil).

The aggregate employment costs incurred during the year were:

		Period from
	Year to	1 Dec 18 to
	31 Dec 20	31 Dec 19
	£	£
Wages and salaries	93,537	–
Social security costs	8,460	–
	---------	----
	101,997	–
	---------	----

5. Debtors

	2020	2019
	£	£
Trade debtors	86,274	–
Amounts owed by group undertakings and undertakings in which the company has a participating interest	48,998	8,146
Other debtors	368	426
	---------	-------
	135,640	8,572
	---------	-------

6. Creditors: amounts falling due within one year

	2020	2019
	£	£
Bank loans and overdrafts	18,003	–
Trade creditors	9,102	–
Amounts owed to group undertakings and undertakings in which the company has a participating interest	118,394	261,239
Social security and other taxes	33,934	2,576
Other creditors	4,764	70,000
	---------	---------
	184,197	333,815
	---------	---------

7. Controlling party

The ultimate and immediate parent company is Cyber Business Group Limited a company registered in the United Kingdom.