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Company No: 12322591 (England and Wales)

NCRYPTED LTD

Unaudited Financial Statements
For the financial year ended 29 November 2023
Pages for filing with the registrar

NCRYPTED LTD

Unaudited Financial Statements

For the financial year ended 29 November 2023

Contents

NCRYPTED LTD

BALANCE SHEET

As at 29 November 2023
NCRYPTED LTD

BALANCE SHEET (continued)

As at 29 November 2023
Note 29.11.2023 29.11.2022
£ £
Fixed assets
Tangible assets 3 1,722 1,747
1,722 1,747
Current assets
Stocks 14,992 12,943
Debtors 4 272 7,642
Cash at bank and in hand 32,961 27,531
48,225 48,116
Creditors: amounts falling due within one year 5 ( 41,834) ( 54,074)
Net current assets/(liabilities) 6,391 (5,958)
Total assets less current liabilities 8,113 (4,211)
Net assets/(liabilities) 8,113 ( 4,211)
Capital and reserves
Called-up share capital 100 100
Profit and loss account 8,013 ( 4,311 )
Total shareholder's funds/(deficit) 8,113 ( 4,211)

For the financial year ending 29 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Ncrypted Ltd (registered number: 12322591) were approved and authorised for issue by the Director on 29 August 2024. They were signed on its behalf by:

Dr L Pinson
Director
NCRYPTED LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 November 2023
NCRYPTED LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 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 period, unless otherwise stated.

General information and basis of accounting

Ncrypted Ltd (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 Towngate House. 2-8 Parkstone Road, Poole, Dorset, BH15 2PW, United Kingdom.

The principle place of business is: 43 Alcantara Crescent, Southampton, Hampshire, SO14 3HR.

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

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line, reducing balance basis over its expected useful life, as follows:

Office equipment 25 % reducing balance

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress 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. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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

Year ended
29.11.2023
Period from
01.12.2021 to
29.11.2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Office equipment Total
£ £
Cost
At 30 November 2022 3,468 3,468
Additions 523 523
Disposals ( 224) ( 224)
At 29 November 2023 3,767 3,767
Accumulated depreciation
At 30 November 2022 1,721 1,721
Charge for the financial year 415 415
Disposals ( 91) ( 91)
At 29 November 2023 2,045 2,045
Net book value
At 29 November 2023 1,722 1,722
At 29 November 2022 1,747 1,747

4. Debtors

29.11.2023 29.11.2022
£ £
Trade debtors 0 5,377
Other debtors 272 2,265
272 7,642

5. Creditors: amounts falling due within one year

29.11.2023 29.11.2022
£ £
Corporation tax 1,476 0
Other creditors 40,358 54,074
41,834 54,074