Cybersity Limited - Period Ending 2020-10-31

Cybersity Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Unaudited Financial Statements	5 to 8

Cybersity Limited

Company Information

Directors

Mr L C Martin Mr R E Shelton

Company secretary

Miss J Murray

Registered office

Meteor House First Avenue Doncaster Finningley Airport Doncaster DN9 3GA

Accountants

Abrams Ashton Ltd Chartered Accountants 7 Waterside Court St. Helens Merseyside WA9 1UA

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Cybersity Limited
for the Year Ended 31 October 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Cybersity Limited for the year ended 31 October 2020 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Cybersity Limited, as a body, in accordance with the terms of our engagement letter dated 5 February 2019. Our work has been undertaken solely to prepare for your approval the accounts of Cybersity Limited and state those matters that we have agreed to state to the Board of Directors of Cybersity Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cybersity Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Cybersity Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Cybersity Limited. You consider that Cybersity Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Cybersity Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Abrams Ashton Ltd
Chartered Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

21 April 2022

Cybersity Limited

(Registration number: 11652559)
Balance Sheet as at 31 October 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	4	3,145	4,589
Current assets
Debtors	5	-	15,616
Cash at bank and in hand		377	1,654
		377	17,270
Creditors: Amounts falling due within one year	6	(65,092)	(69,975)
Net current liabilities		(64,715)	(52,705)
Net liabilities		(61,570)	(48,116)
Capital and reserves
Called up share capital		100	100
Profit and loss account		(61,670)	(48,216)
Shareholders' deficit		(61,570)	(48,116)

For the financial year ending 31 October 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; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Cybersity Limited

(Registration number: 11652559)
Balance Sheet as at 31 October 2020

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 21 April 2022 and signed on its behalf by:
 

.........................................

Mr R E Shelton
Director

Cybersity Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2020

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Meteor House First Avenue
Doncaster Finningley Airport
Doncaster
DN9 3GA
United Kingdom

These financial statements were authorised for issue by the Board on 21 April 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis, the validity of which depends upon future profitable trading, and the support of the directors. Should the company be unable to continue trading, adjustments would be necessary to reduce the value of assets to their recoverable amounts, to provide for further liabilities which might arise and to reclassify fixed assets as current assets.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cybersity Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2020

Tax

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax has not been discounted.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% straight line

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2019 - 3).

Cybersity Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2020

4	Tangible assets

	Plant and machinery £	Total £
Cost or valuation
Additions	5,779	5,779
At 31 October 2020	5,779	5,779
Depreciation
At 1 November 2019	1,190	1,190
Charge for the year	1,444	1,444
At 31 October 2020	2,634	2,634
Carrying amount
At 31 October 2020	3,145	3,145
At 31 October 2019	4,589	4,589

5

Debtors

	2020 £	2019 £
Trade debtors	-	14,290
Prepayments	-	1,326
	-	15,616

6

Creditors

Creditors: amounts falling due within one year

	2020 £	2019 £
Due within one year
Trade creditors	17,712	26,500
Other creditors	47,380	43,475
	65,092	69,975

Cybersity Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2020

Going concern

Although the financial statements show net current liabilities of £64,715 and net liabilities of £61,570, the directors are of the opinion that the financial statements can be prepared on the going concern basis on the grounds that the company will continue to receive support from the directors and will trade profitably in the future.