Cyber Ventures Limited Small abridged accounts

CYBER VENTURES LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of Cyber Ventures Limited have consented to the preparation of the abridged statement of financial position for the year ending 31 May 2017 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 03745530

Cyber Ventures Limited

Unaudited Abridged Financial Statements

31 May 2017

Cyber Ventures Limited

Abridged Financial Statements

Year ended 31 May 2017

Contents	Page

Director's report	1

Abridged statement of financial position	2

Notes to the abridged financial statements	3

Cyber Ventures Limited

Director's Report

Year ended 31 May 2017

The director presents his report and the unaudited abridged financial statements of the company for the year ended 31 May 2017 .

Director

The director who served the company during the year was as follows:

Shaffin Jaffer

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 21 February 2018 and signed on behalf of the board by:

Shaffin Jaffer
Director

Registered office:

Richmond Bridge House

419 Richmond Road

Twickenham

Middlesex

TW1 2EX

Cyber Ventures Limited

Abridged Statement of Financial Position

31 May 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	4		33	33

Current assets

Debtors	1,067	1,067
Cash at bank and in hand	6,104	6,104
	-------	-------
	7,171	7,171

Creditors: amounts falling due within one year	56,396		56,396
	--------		--------
Net current liabilities		49,225	49,225
		--------	--------
Total assets less current liabilities		( 49,192)	( 49,192)
		--------	--------
Net liabilities		( 49,192)	( 49,192)
		--------	--------

Capital and reserves

Called up share capital	2	2
Profit and loss account	( 49,194)	( 49,194)
	--------	--------
Shareholders deficit	( 49,192)	( 49,192)
	--------	--------

These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

These abridged financial statements were approved by the board of directors and authorised for issue on 21 February 2018 , and are signed on behalf of the board by:

Shaffin Jaffer
Director

Company registration number: 03745530

Cyber Ventures Limited

Notes to the Abridged Financial Statements

Year ended 31 May 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Richmond Bridge House, 419 Richmond Road, Twickenham, Middlesex, TW1 2EX.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 June 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 6.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Depreciation	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Tangible assets

	£
Cost
At 1 June 2016 and 31 May 2017	1,787
	-------
Depreciation
At 1 June 2016 and 31 May 2017	1,754
	-------
Carrying amount
At 31 May 2017	33
	-------
At 31 May 2016	33
	-------

5. Related party transactions

The company was under the control of Mr Shaffin Jaffer throughout the current and previous year. Mr Jaffer is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.

6. Transition to FRS 102

These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 June 2015.

No transitional adjustments were required in equity or profit or loss for the year.

7. Other spare note 99 heading

SPAREB99 USER DEFINED HEADING

The company.......