Cistor Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06449814 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 DECEMBER 2022

FOR

CISTOR LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A D Levy

S K Sorensen

REGISTERED OFFICE:

Ground Floor

Egerton House

68 Baker Street

Weybridge

Surrey

KT13 8AL

REGISTERED NUMBER:

06449814 (England and Wales)

ACCOUNTANTS:

RJP LLP

Ground Floor

Egerton House

68 Baker Street

Weybridge

Surrey

KT13 8AL

FIXED ASSETS

Intangible assets

4

6,992

-

Tangible assets

5

35,535

50,383

Investments

6

4,802

2

47,329

50,385

CURRENT ASSETS

Stocks

374,931

269,789

Debtors

7

3,060,993

1,516,564

Cash at bank

262,517

222,587

3,698,441

2,008,940

CREDITORS

Amounts falling due within one year

8

2,172,678

1,090,214

NET CURRENT ASSETS

1,525,763

918,726

TOTAL ASSETS LESS CURRENT LIABILITIES

1,573,092

969,111

CREDITORS

Amounts falling due after more than one year

9

(10,417

)

(125,000

)

PROVISIONS FOR LIABILITIES

12

(6,638

)

-

NET ASSETS

1,556,037

844,111

CAPITAL AND RESERVES

Called up share capital

13

67

67

Share premium

2,647

2,647

Capital redemption reserve

100

100

Retained earnings

1,553,223

841,297

SHAREHOLDERS' FUNDS

1,556,037

844,111

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2022 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2024 and were signed on its behalf by:

A D Levy - Director

1.	STATUTORY INFORMATION

Cistor Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Cistor Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax. Turnover relating to the sale of computer products are recognised at the earlier of when the goods are invoiced or are dispatched to the customer.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33.33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are stated at the lower of cost or estimated selling price. Cost includes all costs of purchase, costs of conversion and other cost incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Selling price is defined as the amount the company can reasonably expect to receive on the sale of goods.

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 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leasing commitments

Rentals paid under operating leases are charged to the profit and loss account 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 8 (2021 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

6,992

At 30 December 2022

6,992

NET BOOK VALUE

At 30 December 2022

6,992

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 31 December 2021

293,408

Additions

10,911

Disposals

(189,261

)

At 30 December 2022

115,058

DEPRECIATION

At 31 December 2021

243,025

Charge for year

25,759

Eliminated on disposal

(189,261

)

At 30 December 2022

79,523

NET BOOK VALUE

At 30 December 2022

35,535

At 30 December 2021

50,383

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 31 December 2021

2

Additions

4,800

At 30 December 2022

4,802

NET BOOK VALUE

At 30 December 2022

4,802

At 30 December 2021

2

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.12.22

30.12.21

£

£

Trade debtors

959,173

372,433

Amounts owed by group undertakings

2,024,108

667,901

Other debtors

77,712

476,230

3,060,993

1,516,564

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.12.22

30.12.21

£

£

Bank loans and overdrafts

125,000

125,000

Trade creditors

1,320,085

883,780

Amounts owed to group undertakings

556,835

-

Taxation and social security

41,935

18,694

Other creditors

128,823

62,740

2,172,678

1,090,214

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.12.22

30.12.21

£

£

Bank loans

10,417

125,000

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.12.22

30.12.21

£

£

Within one year

-

125,000

11.	SECURED DEBTS

The following secured debts are included within creditors:

30.12.22

30.12.21

£

£

Bank loans

135,417

250,000

HSBC Bank PLC hold a fixed and floating charge dated 9 December 2008 over the undertaking and all property and assets of the company.

There is an unlimited composite company guarantee given by Cistor Limited and Tomax Technology Limited to secure all liabilities of each other. As at the balance sheet date £nil was owed to HSBC by Cistor Limited and Tomax Technology Limited.

12.	PROVISIONS FOR LIABILITIES

30.12.22

30.12.21

£

£

Deferred tax

6,638

-

Deferred

tax

£

Provided during year

6,638

Balance at 30 December 2022

6,638

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.12.22

30.12.21

value:

£

£

6,700

A Ordinary

£0.01

67

67

14.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

A D Levy, has given a personal guarantee to HSBC Plc Limited of £120,000.