Cyclo Technology Limited
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Notes to the Accounts |
for the year ended 30 June 2019
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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2 |
Creditors: amounts falling due within one year |
2019 |
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2018 |
£ |
£ |
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Trade creditors |
- |
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5,496 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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124,494 |
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- |
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Taxation and social security costs |
(894) |
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- |
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Director's loan account |
300 |
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306 |
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123,900 |
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5,802 |
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3 |
Other information |
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Cyclo Technology Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Omnibus Business Centre |
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39-41 North Road |
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London |
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United Kingdom |
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N7 9DP |