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REGISTERED NUMBER: 09338846 (England and Wales)















Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 December 2022

for

ENCEDO LIMITED

ENCEDO LIMITED (Registered number: 09338846)






Contents of the Consolidated Financial Statements
for the Year Ended 31 December 2022




Page

Report of the Directors 1

Consolidated Income Statement 2

Consolidated Balance Sheet 3

Company Balance Sheet 4

Notes to the Consolidated Financial Statements 6


ENCEDO LIMITED (Registered number: 09338846)

Report of the Directors
for the Year Ended 31 December 2022

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2022.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of development of cryptographic device and software.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2022 to the date of this report.

Mr K G Rutecki
Mr R M Rynkowski

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr K G Rutecki - Director


30 September 2023

ENCEDO LIMITED (Registered number: 09338846)

Consolidated Income Statement
for the Year Ended 31 December 2022

31.12.22 31.12.21
£    £    £    £   

TURNOVER 632 27,765

Cost of sales 16,884 64,317
GROSS LOSS (16,252 ) (36,552 )

Administrative expenses 2,916 7,067
(19,168 ) (43,619 )

Other operating income 5 -
OPERATING LOSS (19,163 ) (43,619 )

Interest receivable and similar
income

-

16
Other finance income 167 -
167 16
(18,996 ) (43,603 )

Other finance costs - 635
LOSS BEFORE TAXATION (18,996 ) (44,238 )

Tax on loss - -
LOSS FOR THE FINANCIAL YEAR (18,996 ) (44,238 )

Loss attributable to:
Owners of the parent (18,996 ) (44,238 )

ENCEDO LIMITED (Registered number: 09338846)

Consolidated Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £   
CURRENT ASSETS
Debtors 5 12,945 12,281
Prepayments and accrued income 470 -
Cash at bank and in hand 3,496 22,059
16,911 34,340
CREDITORS
Amounts falling due within one year 6 30,392 28,825
NET CURRENT (LIABILITIES)/ASSETS (13,481 ) 5,515
TOTAL ASSETS LESS CURRENT
LIABILITIES

(13,481

)

5,515

CAPITAL AND RESERVES
Called up share capital 106 106
Retained earnings (13,587 ) 5,409
SHAREHOLDERS' FUNDS (13,481 ) 5,515

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a) ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2023 and were signed on its behalf by:



Mr K G Rutecki - Director


ENCEDO LIMITED (Registered number: 09338846)

Company Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £   
CURRENT ASSETS
Debtors 5 521 521
Cash at bank and in hand 455 1,362
976 1,883
CREDITORS
Amounts falling due within one year 6 29,212 27,202
NET CURRENT LIABILITIES (28,236 ) (25,319 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(28,236

)

(25,319

)

CAPITAL AND RESERVES
Called up share capital 106 106
Retained earnings (28,342 ) (25,425 )
SHAREHOLDERS' FUNDS (28,236 ) (25,319 )

Company's loss for the financial year (2,917 ) (2,104 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ENCEDO LIMITED (Registered number: 09338846)

Company Balance Sheet - continued
31 December 2022


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2023 and were signed on its behalf by:





Mr K G Rutecki - Director


ENCEDO LIMITED (Registered number: 09338846)

Notes to the Consolidated Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

ENCEDO LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09338846

Registered office: 86-90 Paul Street
London
EC2A 4NE

2. 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

ENCEDO LIMITED (Registered number: 09338846)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2022

4. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


5. DEBTORS

Group Company
31.12.22 31.12.21 31.12.22 31.12.21
£    £    £    £   
Amounts falling due within one year:
Trade debtors - 4,294 - -
Amounts owed by group undertakings 5,537 3,528 200 200
Other debtors 4,687 1,738 321 321
10,224 9,560 521 521

Amounts falling due after more than one year:
Trade debtors 2,721 2,721 - -

Aggregate amounts 12,945 12,281 521 521

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.22 31.12.21 31.12.22 31.12.21
£    £    £    £   
Trade creditors 2,101 2,724 672 672
Amounts owed to group undertakings 5,715 3,705 5,715 3,705
Other creditors 22,576 22,396 22,825 22,825
30,392 28,825 29,212 27,202