Company Registration No. 09024495 (England and Wales)
Crypta Labs Limited
Unaudited accounts
for the year ended 31 May 2021
Crypta Labs Limited
Unaudited accounts
Contents
Crypta Labs Limited
Company Information
for the year ended 31 May 2021
Directors
Jonathan Maliepaard
David John Leftley
Jose Luis Garcia Coello
Company Number
09024495 (England and Wales)
Registered Office
51-52 St. John's Square
London
EC1V 4JL
United Kingdom
Accountants
MILE FINANCE LTD
152 - 160 Kemp House
City Road
London
EC1V 2NX
Crypta Labs Limited
Statement of financial position
as at 31 May 2021
Cash at bank and in hand
44,907
8,293
Creditors: amounts falling due within one year
(77,505)
(311,308)
Net current assets/(liabilities)
89,464
(113,706)
Total assets less current liabilities
90,862
(113,706)
Creditors: amounts falling due after more than one year
(1,960,000)
(500,000)
Net liabilities
(1,869,138)
(613,706)
Called up share capital
2,155
2,155
Share premium
1,963,493
1,963,493
Profit and loss account
(3,834,786)
(2,579,354)
Shareholders' funds
(1,869,138)
(613,706)
For the year ending 31 May 2021 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2021 and were signed on its behalf by
Jonathan Maliepaard
Director
Company Registration No. 09024495
Crypta Labs Limited
Notes to the Accounts
for the year ended 31 May 2021
Crypta Labs Limited is a private company, limited by shares, registered in England and Wales, registration number 09024495. The registered office is 51-52 St. John's Square, London, EC1V 4JL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The business has recently secured funding, and has therefore prepared the financial reporting on a going concern basis.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
20% straight line
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Crypta Labs Limited
Notes to the Accounts
for the year ended 31 May 2021
4
Tangible fixed assets
Computer equipment
5
Debtors: amounts falling due within one year
2021
2020
Accrued income and prepayments
16,121
8,120
Other debtors
100,672
140,687
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
-
20,000
Trade creditors
47,708
252,213
Taxes and social security
13,077
18,707
Other creditors
3,582
20,388
7
Creditors: amounts falling due after more than one year
2021
2020
Bank loans
1,960,000
500,000
Crypta Labs Limited
Notes to the Accounts
for the year ended 31 May 2021
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan to directors
10,218
-
-
10,218
The above loan is unsecured, interest fee and repayable on demand. The loan has been repaid on the th of 26th November 2021 in full.
9
Post balance sheet events
On 10th November 2021 the Company has secured additional fuding from the investors amounting to £500,000.
10
Average number of employees
During the year the average number of employees was 10 (2020: 15).
