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REGISTERED NUMBER: 11241778 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 SEPTEMBER 2022 TO 30 JUNE 2023

FOR

REX LABS LTD

REX LABS LTD (REGISTERED NUMBER: 11241778)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 1 September 2022 to 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


REX LABS LTD

COMPANY INFORMATION
for the Period 1 September 2022 to 30 June 2023







DIRECTORS: J Kavanagh
D Miller





REGISTERED OFFICE: 51 Moorgate
London
EC2R 6BH





REGISTERED NUMBER: 11241778 (England and Wales)





ACCOUNTANTS: Oury Clark Chartered Accountants
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

REX LABS LTD (REGISTERED NUMBER: 11241778)

BALANCE SHEET
30 June 2023

30.6.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,949 7,410

CURRENT ASSETS
Debtors 5 140,653 115,593
Cash at bank 99,223 259,198
239,876 374,791
CREDITORS
Amounts falling due within one year 6 1,330,445 1,203,030
NET CURRENT LIABILITIES (1,090,569 ) (828,239 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,085,620

)

(820,829

)

CAPITAL AND RESERVES
Called up share capital 8 606,722 606,722
Retained earnings (1,692,342 ) (1,427,551 )
SHAREHOLDERS' FUNDS (1,085,620 ) (820,829 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2023 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:





J Kavanagh - Director


REX LABS LTD (REGISTERED NUMBER: 11241778)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 1 September 2022 to 30 June 2023

1. STATUTORY INFORMATION

Rex Labs Ltd 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.

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 parent company, Rex Software Pty Limited, have provided a commitment to provide any financial support which may be necessary in order that the company can meet its liabilities, as they fall due, for the foreseeable future. As a result of this commitment the directors have continued to adopt the going concern basis in preparing these 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.

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.
Plant and machinery etc - 33% on cost

Financial instruments
Basic Financial Instruments as covered by Section 11 of FRS 102 are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS 102.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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.

REX LABS LTD (REGISTERED NUMBER: 11241778)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 September 2022 to 30 June 2023

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.

Research and development tax credits are recognised on receipt of funds.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 8 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022
and 30 June 2023 8,860
DEPRECIATION
At 1 September 2022 1,450
Charge for period 2,461
At 30 June 2023 3,911
NET BOOK VALUE
At 30 June 2023 4,949
At 31 August 2022 7,410

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 31.8.22
£    £   
Trade debtors 88,484 79,824
Other debtors 52,169 35,769
140,653 115,593

REX LABS LTD (REGISTERED NUMBER: 11241778)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 September 2022 to 30 June 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 31.8.22
£    £   
Trade creditors 28,495 3,231
Amounts owed to group undertakings 1,208,060 1,105,546
Taxation and social security 56,681 76,415
Other creditors & accruals 37,209 17,838
1,330,445 1,203,030

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.23 31.8.22
£    £   
Within one year 66,420 -

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 31.8.22
value: £    £   
606,722 Ordinary £1 606,722 606,722

9. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

10. PARENT COMPANY

The parent company is Rex Software Pty Ltd which is incorporated in Australia.