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Company No: 11071875 (England and Wales)

ALGANYS LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

ALGANYS LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

ALGANYS LIMITED

COMPANY INFORMATION

For the financial year ended 30 November 2023
ALGANYS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 November 2023
DIRECTORS Etienne Pierre Jean Binant
Sebastien Alain Christian Grandin
REGISTERED OFFICE 22 Chancery Lane
London
WC2A 1LS
England
United Kingdom
COMPANY NUMBER 11071875 (England and Wales)
ALGANYS LIMITED

BALANCE SHEET

As at 30 November 2023
ALGANYS LIMITED

BALANCE SHEET (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 14,055 10,531
Investments 4 3,594,302 2,893,421
3,608,357 2,903,952
Current assets
Debtors 5 296,263 190,398
Cash at bank and in hand 215,359 254,533
511,622 444,931
Creditors: amounts falling due within one year 6 ( 727,732) ( 814,028)
Net current liabilities (216,110) (369,097)
Total assets less current liabilities 3,392,247 2,534,855
Creditors: amounts falling due after more than one year 7 ( 738,881) ( 307,213)
Net assets 2,653,366 2,227,642
Capital and reserves
Called-up share capital 100 100
Profit and loss account 2,653,266 2,227,542
Total shareholders' funds 2,653,366 2,227,642

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Alganys Limited (registered number: 11071875) were approved and authorised for issue by the Board of Directors on 23 August 2024. They were signed on its behalf by:

Etienne Pierre Jean Binant
Director
ALGANYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
ALGANYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Alganys Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 22 Chancery Lane, London, WC2A 1LS, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Income from the provision of services is recognised in the period in which the services are provided to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 December 2022 17,246 17,246
Additions 13,078 13,078
Disposals ( 2,478) ( 2,478)
At 30 November 2023 27,846 27,846
Accumulated depreciation
At 01 December 2022 6,715 6,715
Charge for the financial year 7,076 7,076
At 30 November 2023 13,791 13,791
Net book value
At 30 November 2023 14,055 14,055
At 30 November 2022 10,531 10,531

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 December 2022 2,893,421 2,893,421
Additions 710,894 710,894
Disposals ( 91,142) ( 91,142)
Movement in fair value 81,129 81,129
At 30 November 2023 3,594,302 3,594,302
Carrying value at 30 November 2023 3,594,302 3,594,302
Carrying value at 30 November 2022 2,893,421 2,893,421

5. Debtors

2023 2022
£ £
Trade debtors 168,002 167,134
Other debtors 128,261 23,264
296,263 190,398

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts 49,429 77,085
Trade creditors 69,011 37,500
Taxation and social security 334,835 440,550
Other creditors 274,457 258,893
727,732 814,028

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 90,834 167,500
Other creditors 648,047 139,713
738,881 307,213

There are no amounts included above in respect of which any security has been given by the small entity.

8. Related party transactions

Transactions with the entity's directors

During the year, the directors advanced £1,583,684 to the company and withdrew £1,785,245. At the balance sheet date £86,811 was owed to the company.

Advances to directors are repayable on demand and subject to interest rates of 2.0% until 5 April 2023 and 2.25% thereafter (2022 - 2.0%) per annum. Amounts due to directors are repayable on demand and are subject to interest at a rate of l0% (2022 - 10%) per annum.