REGISTERED NUMBER: 07908614 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2021

for

Cyzag Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr John Papastylianou

SECRETARY:

Mrs Thekley Papastylianou

REGISTERED OFFICE:

Devonshire House

582 Honeypot Lane

Stanmore

MIDDLESEX

HA7 1JS

REGISTERED NUMBER:

07908614 (England and Wales)

ACCOUNTANTS:

Capitax Financial Limited

Devonshire House

582 Honeypot Lane

Stanmore

MIDDLESEX

HA7 1JS

FIXED ASSETS

Tangible assets

3

4,684

6,980

4,684

6,980

CURRENT ASSETS

Debtors

4

230,309

311,666

Cash at bank

346,882

272,984

577,191

584,650

CREDITORS

Amounts falling due within one year

5

42,305

105,181

NET CURRENT ASSETS

534,886

479,469

TOTAL ASSETS LESS CURRENT LIABILITIES

539,570

486,449

PROVISIONS FOR LIABILITIES

890

1,326

NET ASSETS

538,680

485,123

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

538,580

485,023

SHAREHOLDERS' FUNDS

538,680

485,123

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 9 April 2021 and were signed by:

Mr John Papastylianou - Director

1.	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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 5 ) .

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2020

11,707

Additions

728

At 31 January 2021

12,435

DEPRECIATION

At 1 February 2020

4,727

Charge for year

3,024

At 31 January 2021

7,751

NET BOOK VALUE

At 31 January 2021

4,684

At 31 January 2020

6,980

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.21

31.1.20

£

£

Trade debtors

220,296

310,667

Other debtors

10,013

999

230,309

311,666

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.21

31.1.20

£

£

Trade creditors

34,214

37,555

Taxation and social security

1,639

59,736

Other creditors

6,452

7,890

42,305

105,181

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year ended 31 January 2021, Cyzag Limited owed £17,022 to its director. This amount is reflected accordingly in the directors' loan account in credit balance, which is shown under Creditors due within one year. Please be advised that the director has agreed to provide this loan on an interest free basis and the loan is repayable on demand.

7.	RELATED PARTY DISCLOSURES

During the year ended 31 January 2021, Cyzag Limited was owed £10,180 by its shareholders. This amount is reflected in the other creditors account in credit balance, which is shown as part of Other creditors under Creditors due within one year. Please be advised that Cyzag Limited has agreed to provide these loans on an interest free basis and the loans are repayable on demand.