Company Registration No. 12418491 (England and Wales)
DECADENX LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
DECADENX LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
DECADENX LTD
Company Registration No. 12418491
BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,778
Current assets
Stocks
-
1,446,603
Debtors
4
5,000
63,793
Cash at bank and in hand
443
240
5,443
1,510,636
Creditors: amounts falling due within one year
5
(18,221)
(637,732)
Net current (liabilities)/assets
(12,778)
872,904
Total assets less current liabilities
(11,000)
872,904
Creditors: amounts falling due after more than one year
6
(1,045,673)
Net liabilities
(11,000)
(172,769)
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
(11,001)
(172,770)
Total equity
(11,000)
(172,769)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
DECADENX LTD
Company Registration No. 12418491
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024
31 January 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 11 March 2024
M Pangherz
Director
DECADENX LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information
Decadenx Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 104 Silverdale Avenue, Walton on Thames, England, KT12 1EH.
1.1
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.
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. The principal accounting policies adopted are set out below.
1.2
Going concern
At the balance sheet date, truethe company had net liabilities of £11,000. At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
4 year straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
DECADENX LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
2
2
3
Tangible fixed assets
Computers
£
Cost
At 1 February 2023
Additions
2,225
At 31 January 2024
2,225
Depreciation and impairment
At 1 February 2023
Depreciation charged in the year
447
At 31 January 2024
447
Carrying amount
At 31 January 2024
1,778
At 31 January 2023
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
5,000
63,793
DECADENX LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
16,031
635,632
Accruals and deferred income
2,190
2,100
18,221
637,732
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
7
1,045,673
7
Loans and overdrafts
2024
2023
£
£
Bank loans
1,045,673
Payable after one year
1,045,673
The long-term included in creditors falling due after more than one year is a bank loan of £0 (2023 -£1,045,673). This loan is secured against the properties held by the company.
8
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Oridinary Shares of £1 each
1
1
1
1
9
Related party transactions
At the balance sheet date the company owed the director £16,031 (2023 - £485,632). This loan is interest free and repayable on demand.