Caysure Digital Limited Filleted accounts for Companies House (small and micro)

CAYSURE DIGITAL LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 9801397

Caysure Digital Limited

Filleted Unaudited Abridged Financial Statements

28 February 2023

Caysure Digital Limited

Abridged Statement of Financial Position

28 February 2023

	2023		2022
Note	£	£	£

Fixed assets

Tangible assets	5		7,180	9,917

Current assets

Debtors	625,777	640,042
Cash at bank and in hand	345,568	246,346
	---------	---------
	971,345	886,388

Creditors: amounts falling due within one year	148,864		293,512
	---------		---------
Net current assets		822,481	592,876
		---------	---------
Total assets less current liabilities		829,661	602,793

Provisions

Taxation including deferred tax	1,757	2,383
	---------	---------
Net assets	827,904	600,410
	---------	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	827,903	600,409
	---------	---------
Shareholders funds	827,904	600,410
	---------	---------

These abridged 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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.

For the year ending 28 February 2023 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 abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

Caysure Digital Limited

Abridged Statement of Financial Position (continued)

28 February 2023

These abridged financial statements were approved by the board of directors and authorised for issue on 10 August 2023 , and are signed on behalf of the board by:

J W Cayton

Director

Company registration number: 9801397

Caysure Digital Limited

Notes to the Abridged Financial Statements

Year ended 28 February 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10a Tower 42, 25 Old Broad Street, London, EC2N 1HQ.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date .

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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.

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:

	Computer equipment	-	33% straight line

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2022: 7 ).

5. Tangible assets

	£
Cost
At 1 March 2022	25,716
Additions	1,916
	--------
At 28 February 2023	27,632
	--------
Depreciation
At 1 March 2022	15,799
Charge for the year	4,653
	--------
At 28 February 2023	20,452
	--------
Carrying amount
At 28 February 2023	7,180
	--------
At 28 February 2022	9,917
	--------

6. Related party transactions

The company was under the control of Mr J W Cayton throughout the current period. He is managing director and sole shareholder. At the end of the year the company was owed £586,667 (2022: £631,464) in respect of trading debts by parties related to Mr Cayton.