Cyclic Input Limited - Accounts

Cyclic Input Limited - Accounts

CYCLIC INPUT LIMITED - Company Information

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Registered Number: SC437302


 

 

 

CYCLIC INPUT LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 December 2019

End date: 30 November 2020

Cyclic Input Limited
Contents Page
For the year ended 30 November 2020
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 November 2020 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Systematic Accounting Ltd
30 November 2020



....................................................
Systematic Accounting Ltd
8 Gordon Place
Rothienorman
INVERURIE
AB51 8XF
07 February 2021
1
 
 		 Notes
 		 2020
£		   2019
£
Fixed assets      
Tangible fixed assets 2 1,294    1,729 
1,294    1,729 
Current assets      
Debtors 2,111    1,893 
Cash at bank and in hand 14,164    1,139 
16,275    3,032 
Creditors: amount falling due within one year (8,607)   0 
Net current assets 7,668    3,032 
 
Total assets less current liabilities 8,962    4,761 
Creditors: amount falling due after more than one year (188,728)   (166,587)
Provisions for liabilities (297)   0 
Net assets (180,063)   (161,826)
 

Capital and reserves 		     
Reserves (161,826)   0 
Profit and loss account (18,237)   (161,826)
Shareholders funds (180,063)   (161,826)
 


For the year ended 30 November 2020 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 07 February 2021 and were signed by:


--------------------------------
Ross Paterson
Director
2
General Information
Cyclic Input Limited is a private company, limited by shares, registered in , registration number SC437302, registration address 16 Craighall Crescent, ELLON, ELLON, AB41 9NR

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in 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 sale taxes.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation for the year comprises current and deferred taxation. Current tax is calculated using the tax rates at the balance sheet date
Tangible fixed assets
Tangible fixed assets, 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:
Fixtures and Fittings 20% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 December 2019 1,729    1,729 
Additions 273    273 
Disposals -    - 
At 30 November 2020 2,002    2,002 
Depreciation
At 01 December 2019 -    - 
Charge for year 708    708 
On disposals -    - 
At 30 November 2020 708    708 
Net book values
Closing balance as at 30 November 2020 1,294    1,294 
Opening balance as at 01 December 2019 -    - 


3.

Average number of employees


Average number of employees during the year was 1 (2019 : 1)
3