IRIS Accounts Production v24.1.4.33 11715757 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh117157572023-01-31117157572024-01-31117157572023-02-012024-01-31117157572022-01-31117157572022-02-012023-01-31117157572023-01-3111715757ns15:EnglandWales2023-02-012024-01-3111715757ns14:PoundSterling2023-02-012024-01-3111715757ns10:Director12023-02-012024-01-3111715757ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3111715757ns10:SmallEntities2023-02-012024-01-3111715757ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3111715757ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3111715757ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3111715757ns10:AbridgedAccounts2023-02-012024-01-3111715757ns10:Director22023-02-012024-01-3111715757ns10:Director32023-02-012024-01-3111715757ns10:Director42023-02-012024-01-3111715757ns10:RegisteredOffice2023-02-012024-01-3111715757ns5:CurrentFinancialInstruments2024-01-3111715757ns5:CurrentFinancialInstruments2023-01-3111715757ns5:Non-currentFinancialInstruments2024-01-3111715757ns5:Non-currentFinancialInstruments2023-01-3111715757ns5:ShareCapital2024-01-3111715757ns5:ShareCapital2023-01-3111715757ns5:RetainedEarningsAccumulatedLosses2024-01-3111715757ns5:RetainedEarningsAccumulatedLosses2023-01-31
REGISTERED NUMBER: 11715757 (England and Wales)









CYDRAX LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






CYDRAX LIMITED (REGISTERED NUMBER: 11715757)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


CYDRAX LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: L J Christie
P M Tucker
P Tucker
M Tucker





REGISTERED OFFICE: Ware Orchard Park Hill
Ipplepen
Newton Abbot
Devon
TQ12 5TU





REGISTERED NUMBER: 11715757 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

CYDRAX LIMITED (REGISTERED NUMBER: 11715757)

ABRIDGED BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 190,394 194,469
Investments 6 291 291
Investment property 7 307,664 140,513
498,349 335,273

CURRENT ASSETS
Debtors 200,785 177,162
Cash at bank 124,049 175,944
324,834 353,106
CREDITORS
Amounts falling due within one year 25,968 24,589
NET CURRENT ASSETS 298,866 328,517
TOTAL ASSETS LESS CURRENT LIABILITIES 797,215 663,790

CREDITORS
Amounts falling due after more than one year 8 182,028 196,350
NET ASSETS 615,187 467,440

CAPITAL AND RESERVES
Called up share capital 399 399
Retained earnings 614,788 467,041
615,187 467,440

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

CYDRAX LIMITED (REGISTERED NUMBER: 11715757)

ABRIDGED BALANCE SHEET - continued
31 JANUARY 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 June 2024 and were signed on its behalf by:





L J Christie - Director


CYDRAX LIMITED (REGISTERED NUMBER: 11715757)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Cydrax Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimates useful life:

Freehold property - 50 years straight line

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.


Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Rental Income
Rental income is measured as the fair value of the consideration received or receivable, net of value added taxed. Rental income includes rent received from the letting of units held in the company and is recognised using the accrual basis.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

CYDRAX LIMITED (REGISTERED NUMBER: 11715757)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

3. ACCOUNTING POLICIES - continued

Investment property
Investment properties held in the accounts are rented out to third parties and are stated in the statement of financial position at their revalued amounts The valuation is reviewed annually for any uplift or impairment.

Any aggregate surplus or deficit arising from changes in fair value is recognised immediately in profit or loss and treated as an unrealised gain or loss.

Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Provisions for liabilities
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance costs in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary costs payable for the period of absence.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

CYDRAX LIMITED (REGISTERED NUMBER: 11715757)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023
and 31 January 2024 210,769
DEPRECIATION
At 1 February 2023 16,300
Charge for year 4,075
At 31 January 2024 20,375
NET BOOK VALUE
At 31 January 2024 190,394
At 31 January 2023 194,469

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 February 2023
and 31 January 2024 291
NET BOOK VALUE
At 31 January 2024 291
At 31 January 2023 291

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 140,513
Additions 167,151
At 31 January 2024 307,664
NET BOOK VALUE
At 31 January 2024 307,664
At 31 January 2023 140,513

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 126,255 138,802

9. SECURED DEBTS

The mortgage is secured against the properties to which it relates via a fixed charge. The value of this is £195,971 and the property to which it relates is held in freehold property and investment property.

There is also a debenture with a floating charge over all of the fixed plant and machinery and book debts of the company.