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REGISTERED NUMBER: 06885495 (England and Wales)















Financial Statements

for the Year Ended 31 December 2023

for

ENCODE UK LIMITED

ENCODE UK LIMITED (REGISTERED NUMBER: 06885495)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ENCODE UK LIMITED

Company Information
for the year ended 31 December 2023







Directors: Mr D Chatzis
Mr G Patsis





Registered office: 3rd Floor
Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ





Registered number: 06885495 (England and Wales)





Auditors: Haines Watts North London LLP
Chartered Accountants and Statutory Auditors
3rd Floor
Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ

ENCODE UK LIMITED (REGISTERED NUMBER: 06885495)

Balance Sheet
31 December 2023

2023 2022
Notes £ £
Fixed assets
Tangible assets 4 - -

Current assets
Debtors 5 4,199 18,752
Cash at bank 7,056 5,678
11,255 24,430
Creditors
Amounts falling due within one year 6 1,869,152 1,844,259
Net current liabilities (1,857,897 ) (1,819,829 )
Total assets less current liabilities (1,857,897 ) (1,819,829 )

Capital and reserves
Called up share capital 7 100 100
Retained earnings (1,857,997 ) (1,819,929 )
Shareholders' funds (1,857,897 ) (1,819,829 )

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by:





Mr D Chatzis - Director


ENCODE UK LIMITED (REGISTERED NUMBER: 06885495)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

Encode UK 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. 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.

The financial statements have been prepared on a going concern basis, the applicability of which is dependent upon the continued support of the company's parent company. In the opinion of the director, the company has the support of its parent company for a period of no less than twelve months from the date of approval of these financial statements and it is therefore appropriate to adopt the going concern policy.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.


ENCODE UK LIMITED (REGISTERED NUMBER: 06885495)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 2 (2022 - 2 ) .

4. Tangible fixed assets
Computer
equipment
£
Cost
At 1 January 2023
and 31 December 2023 37,602
Depreciation
At 1 January 2023
and 31 December 2023 37,602
Net book value
At 31 December 2023 -
At 31 December 2022 -

5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 1,428 14,786
Other debtors 2,771 3,966
4,199 18,752

ENCODE UK LIMITED (REGISTERED NUMBER: 06885495)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 879 13,396
Amounts owed to group undertakings 1,866,773 1,829,363
Other creditors 1,500 1,500
1,869,152 1,844,259

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100

8. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Hassan Behcet (Senior Statutory Auditor)
for and on behalf of Haines Watts North London LLP

9. Related party disclosures

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.