Company registration number: 13292417 (England and Wales)
ERIX LIMITED
UNAUDITED DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st MARCH 2023
ERIX LIMITED
Unaudited Financial Statements
Year ended 31st March 2023
CONTENTS | PAGE |
Officers and Professional Advisors | 3 |
Directors Report | 4-5 |
Balance Sheet | 6 |
Notes to the Financial Statements | 7-8 |
ERIX LIMITED
Officers and Professional Advisors
Year ended 31st March 2023
Directors | Mr E L White (appointed 30th March 2021) |
| Mr B R Kearvell-White (appointed 30th March 2021) |
| |
Registered Offices | 71-75 Shelton Street |
| Covent Garden |
| London WC2 9EJ |
| |
Share Dealing / Investments | IG Markets Limited |
| Cannon Bridge House |
| 25 Dowgate Hill |
| London EC4R 2YA |
| |
| Charles Stanley & Co Limited |
| 85 Bishopsgate |
| London EC2N 3AS |
ERIX LIMITED
Directors Report
Year ended 31st March 2023
The directors present their annual report and financial statements for the year ended 31st March 2023.
PRINCIPAL ACTIVITIES
The principal activity of the company is investment in shares
DIRECTORS
The directors who served the company during the year were as follows:
• | Mr E L White |
• | Mr B R Kearvell-White |
DIRECTORS RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit and loss of the Company for that period.
In preparing these financial statements, the directors are required to:
• | select suitable accounting policies and then apply them consistently; |
• | make judgements and accounting estimates that are reasonable and prudent; |
• | prepare the financial statements on the going concern basis unless it is inappropriate to assume that the Company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
ERIX LIMITED
Directors Report
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 30th October 2023 and signed on behalf of the board by
Brian Kearvell-White
Director
ERIX LIMITED
Balance Sheet
31st March 2023
| | 2023 | 2022 |
| Note | £ | £ |
Investments | 4 | 1,169,240 | 1,015,357 |
| | | |
Debtors | 5 | 0 | 11,943 |
Bank | | 6,270 | 1,269 |
| | | |
Tax provision | 3 | (12,487) | (4,703) |
| | | |
Net Assets | | 1,163,023 | 1,023,866 |
| | | |
Called up share Capital | 6 | 1,075,000 | 450,000 |
| | | |
Shareholder's Funds for Shares | 7 | 0 | 550,000 |
| | | |
Profit and loss account | 8 | 88,023 | 23,866 |
| | | |
Shareholders Funds | | 1,163,023 | 1,023,866 |
For the financial year ended 31st March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
These financial statements were approved by the board of directors and authorised for issue on 30th October 2023 and are signed on its behalf by:
Brian Kearvell-White
Director
Company registration number: 13292417
ERIX LIMITED
Notes to the Financial Statements
Year ended 31st March 2023
1 Accounting Policies
ACCOUNTING CONVENTION
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies’ regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
GROSS INCOME / TURNOVER
Income represents gross income from investments during the year before any tax deductions. Income being from dividends and realised profit / loss from the sale of investments.
INVESTMENTS
Investments are recorded at cost.
2 Investments
Investments are held by IG Markets and Charles Stanley and are recorded at cost, currently there is an unrealised loss of £161,838 due to fall in market values.
ERIX LIMITED
Notes to the Financial Statements (continued)
Year ended 31st March 2023
3 Debtors
| 2023 | 2022 |
| £ | £ |
Income held by IG Markets | 0 | 11,218 |
Tax paid on income at source | 0 | 725 |
| 0 | 11,943 |
Income held by Fund managers is included in cost of investments as the funds are available for investment
4 Share Capital
Allotted, called up and fully paid
| 2023 | 2022 |
| £ | £ |
Ordinary Shares of £1,000 each | 1,075,000 | 450,000 |
In the year, the Shareholder's funds for new shares were converted into 550 shares and a further 75 shares issued at par
5 Reserves
| Profit and |
| Loss account |
| £ |
Profit at 31st March 2022 | 23,866 |
Profit for the year | 64,157 |
| |
At 31st March 2023 | 88,023 |
6 Controlling party
The company is controlled by the founding shareholder and director Eric White.
V.1.0
FINTAGS
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01 April 2022
31 March 2023
30 March 2021
30 March 2021
30 October 2023
30 October 2023
0
Statement that members have agreed to preparation of abridged accounts under section 444 Companies Act 2006.
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