Registered number
11614257
Cortex Organics Limited
Unaudited Filleted Accounts
31 July 2023
Cortex Organics Limited
Registered number: 11614257
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,160 1,547
Current assets
Debtors 4 55,677 134,850
Cash at bank and in hand 118,844 165,162
174,521 300,012
Creditors: amounts falling due within one year 5 158,943 21,960
Net current assets 333,464 321,972
Total assets less current liabilities 335,624 323,519
Creditors: amounts falling due after more than one year 6 (35,938) (32,401)
Net assets 299,686 291,118
Capital and reserves
Called up share capital 10 10
Share premium 14,991 14,991
Profit and loss account 284,685 276,117
Shareholders' funds 299,686 291,118
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Heyao Shi
Director
Approved by the board on 27 July 2024
Cortex Organics Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets
Tangible fixed assets are measured at cost less cumulative depreciation and any cumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% reducing balance
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Research and development
Expenditure on research and development is written off as incurred.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 2,430
Additions 1,107
At 31 July 2023 3,537
Depreciation
At 1 August 2022 883
Charge for the year 494
At 31 July 2023 1,377
Net book value
At 31 July 2023 2,160
At 31 July 2022 1,547
4 Debtors 2023 2022
£ £
Trade debtors 55,677 134,850
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,442 41,295
Corporation tax (153,800) (53,417)
Other taxes and social security costs (9,076) (10,538)
Other creditors 2,491 700
(158,943) (21,960)
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 18,850 26,304
Other creditors 17,088 6,097
35,938 32,401
7 Other information
Cortex Organics Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Hinksey Court
Church Way
Oxford
Oxfordshire
OX2 9SX
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