Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 07273632 Candex Technologies Ltd P Fairbank P Kaitkay J Lappin P Kaitkay true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07273632 2022-12-31 07273632 2023-12-31 07273632 2023-01-01 2023-12-31 07273632 frs-core:CurrentFinancialInstruments 2023-12-31 07273632 frs-core:ShareCapital 2023-12-31 07273632 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07273632 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07273632 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 07273632 frs-bus:SmallEntities 2023-01-01 2023-12-31 07273632 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07273632 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07273632 1 2023-01-01 2023-12-31 07273632 frs-bus:Director1 2023-01-01 2023-12-31 07273632 frs-bus:Director2 2023-01-01 2023-12-31 07273632 frs-bus:Director3 2023-01-01 2023-12-31 07273632 frs-bus:Director4 2023-01-01 2023-12-31 07273632 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 07273632 frs-countries:EnglandWales 2023-01-01 2023-12-31 07273632 2021-12-31 07273632 2022-12-31 07273632 2022-01-01 2022-12-31 07273632 frs-core:CurrentFinancialInstruments 2022-12-31 07273632 frs-core:ShareCapital 2022-12-31 07273632 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 07273632
Candex Solutions Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Company Information 1
Balance Sheet 2
Notes to the Financial Statements 3—4
Page 1
Company Information
Directors Candex Technologies Ltd
P Fairbank
P Kaitkay
J Lappin
Secretary P Kaitkay
Company Number 07273632
Registered Office 32 Byron Hill Road
Harrow On The Hill
Middx
HA2 0HY
Accountants A-spire Business Partners
Chartered Accountants
32 Byron Hill Road
Harrow On The Hill
Middx
HA2 0HY
Page 1
Page 2
Balance Sheet
Registered number: 07273632
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 15,998,272 7,591,265
Cash at bank and in hand 2,543,743 1,813,870
18,542,015 9,405,135
Creditors: Amounts Falling Due Within One Year 5 (18,438,005 ) (9,328,821 )
NET CURRENT ASSETS (LIABILITIES) 104,010 76,314
TOTAL ASSETS LESS CURRENT LIABILITIES 104,010 76,314
NET ASSETS 104,010 76,314
CAPITAL AND RESERVES
Called up share capital 6 200,010 200,010
Profit and Loss Account (96,000 ) (123,696 )
SHAREHOLDERS' FUNDS 104,010 76,314
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
P Kaitkay
Director
26/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Candex Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07273632 . The registered office is 32 Byron Hill Road, Harrow On The Hill, Middx, HA2 0HY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2022: 3)
8 3
4. Debtors
2023 2022
£ £
Due within one year
Trade debtors 8,966,422 6,196,244
Prepayments and accrued income 402,690 -
Other debtors 40,912 44,416
Amounts owed by group undertakings 6,588,248 1,350,605
15,998,272 7,591,265
Page 3
Page 4
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 8,579,980 5,673,465
Bank loans and overdrafts - 129
VAT 703,091 1,030,524
Other creditors 1,704 -
Accruals and deferred income 75,507 1,750
Amounts owed to group undertakings 9,077,723 2,622,953
18,438,005 9,328,821
6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 200,010 200,010
7. Ultimate Controlling Party
The company's ultimate controlling party is Dexx Technologies by virtue of its ownership of 100% of the issued share capital in Candex Technologies Ltd who subsequently holds 100% of the issued share capital of the company.
Page 4