Cybertonica Ltd - Limited company accounts 20.1
Cybertonica Ltd - Limited company accounts 20.1
| REGISTERED NUMBER: |
| Report of the Directors and |
| Unaudited Financial Statements for the Year Ended 31 December 2020 |
| for |
| Cybertonica Ltd |
| Cybertonica Ltd (Registered number: 09721645) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2020 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Income Statement | 3 |
| Balance Sheet | 4 |
| Statement of Changes in Equity | 6 |
| Notes to the Financial Statements | 7 |
| Cybertonica Ltd |
| Company Information |
| for the Year Ended 31 December 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 38 Craven Street |
| London |
| WC2N 5NG |
| Cybertonica Ltd (Registered number: 09721645) |
| Report of the Directors |
| for the Year Ended 31 December 2020 |
| The directors present their report with the financial statements of the company for the year ended 31 December 2020. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of software development to detect and prevent fraudulent transactions. |
| EVENTS SINCE THE END OF THE YEAR |
| Information relating to events since the end of the year is given in the notes to the financial statements. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 January 2020 to the date of this report. |
| Other changes in directors holding office are as follows: |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| ON BEHALF OF THE BOARD: |
| Cybertonica Ltd (Registered number: 09721645) |
| Income Statement |
| for the Year Ended 31 December 2020 |
| 2020 | 2019 |
| as restated |
| Notes | £ | £ |
| TURNOVER |
| Administrative expenses |
| (662,470 | ) | (365,237 | ) |
| Other operating income |
| OPERATING LOSS | 4 | ( |
) | ( |
) |
| Interest payable and similar expenses |
| LOSS BEFORE TAXATION | ( |
) | ( |
) |
| Tax on loss |
| LOSS FOR THE FINANCIAL YEAR | ( |
) | ( |
) |
| Cybertonica Ltd (Registered number: 09721645) |
| Balance Sheet |
| 31 December 2020 |
| 2020 | 2019 |
| as restated |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 6 |
| Tangible assets | 7 |
| Investments | 8 |
| CURRENT ASSETS |
| Debtors | 9 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 10 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Share premium |
| Retained earnings | ( |
) | (330,646 | ) |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps 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 Sections 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. |
| Cybertonica Ltd (Registered number: 09721645) |
| Balance Sheet - continued |
| 31 December 2020 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Cybertonica Ltd (Registered number: 09721645) |
| Statement of Changes in Equity |
| for the Year Ended 31 December 2020 |
| Called up |
| share | Retained | Share | Total |
| capital | earnings | premium | equity |
| £ | £ | £ | £ |
| Balance at 1 January 2019 | ( |
) |
| Changes in equity |
| Issue of share capital | - |
| Total comprehensive income | - | ( |
) | - | ( |
) |
| Balance at 31 December 2019 | 163 | (304,396 | ) | 3,601,217 | 3,296,984 |
| Prior year adjustment | - | ( |
) | - | ( |
) |
| As restated | ( |
) |
| Changes in equity |
| Total comprehensive income | - | ( |
) | - | ( |
) |
| Balance at 31 December 2020 | ( |
) |
| Cybertonica Ltd (Registered number: 09721645) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2020 |
| 1. | STATUTORY INFORMATION |
| Cybertonica Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
| life. |
| Computer equipment 33% on cost. |
| Fixtures, Fittings and equipment 33% on cost. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Cybertonica Ltd (Registered number: 09721645) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | OPERATING LOSS |
| The operating loss is stated after charging: |
| 2020 | 2019 |
| as restated |
| £ | £ |
| Depreciation - owned assets |
| Computer software amortisation |
| 5. | PRIOR YEAR ADJUSTMENT |
| The accounts have been restated to correct a material error in the previous year. The error related to an overstatement of trade debtors and sales of £26,250. |
| 6. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 January 2020 |
| Additions |
| At 31 December 2020 |
| AMORTISATION |
| At 1 January 2020 |
| Charge for year |
| At 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 31 December 2019 |
| Cybertonica Ltd (Registered number: 09721645) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2020 |
| 7. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2020 |
| Additions |
| At 31 December 2020 |
| DEPRECIATION |
| At 1 January 2020 |
| Charge for year |
| At 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 31 December 2019 |
| 8. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2020 |
| Additions |
| At 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 31 December 2019 |
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| as restated |
| £ | £ |
| Amounts owed by group undertakings |
| Other debtors |
| Cybertonica Ltd (Registered number: 09721645) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2020 |
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| as restated |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | as restated |
| £ | £ |
| Ordinary | 0.000 | 1 | 129 | 129 |
| Deferred | 0.000 | 1 | 9 | 9 |
| Seed Preferred | 0.000 | 1 | 22 | 22 |
| 160 | 160 |
| The Company allotted n. 34843 Preferred Shares at nominal value of £ 0.0001 and premium of £ 3.49 per share. |
| 12. | RELATED PARTY DISCLOSURES |
| At the end of the reporting year there was an outstanding balance due from Kibertonika RU of £ 971,564 (2019: £491,564), included in trade debtors. |
| At the end of the reporting year the company owed £ 20,420 (2019: £ 46,701) to the directors. The debit note bears no interest and is due on demand. |
| At the end of the reporting year the company was owed £ 158,717 (2019: £ 173,153) from the subsidiary Kibertonika RU. The loan is unsecured, short term and bears no interest. |
| 13. | POST BALANCE SHEET EVENTS |
| The uncertainty and disruption caused by COVID-19 require an evaluation on how the pandemic has affected the entity's individual performance, position and future prospects. The directors believe that there are no material uncertainties that might affect the entity's ability to continue as a going concern based on the assumption that the business will continue to operate into the foreseeable future and for minimum of 12 months from the date that the financial statements are authorised for issue. |