REGISTERED NUMBER: 07908614 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2020

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

6,980

3,744

6,980

3,744

CURRENT ASSETS

Debtors

4

311,666

160,016

Prepayments and accrued income

-

26,044

Cash at bank

272,984

44,630

584,650

230,690

CREDITORS

Amounts falling due within one year

5

105,181

91,625

NET CURRENT ASSETS

479,469

139,065

TOTAL ASSETS LESS CURRENT LIABILITIES

486,449

142,809

PROVISIONS FOR LIABILITIES

1,326

711

NET ASSETS

485,123

142,098

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

485,023

141,998

SHAREHOLDERS' FUNDS

485,123

142,098

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 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 on 28 February 2020 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 5 (2019 - 4 ) .

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2019

9,008

Additions

6,039

Disposals

(3,340

)

At 31 January 2020

11,707

DEPRECIATION

At 1 February 2019

5,264

Charge for year

2,803

Eliminated on disposal

(3,340

)

At 31 January 2020

4,727

NET BOOK VALUE

At 31 January 2020

6,980

At 31 January 2019

3,744

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Trade debtors

310,667

160,016

Other debtors

999

-

311,666

160,016

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Trade creditors

37,555

2,411

Taxation and social security

59,736

12,932

Other creditors

7,890

76,282

105,181

91,625

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year ended 31 January 2020, Cyzag Limited owed £17,354 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