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Company Registration No. 03464935 (England and Wales)
Condex (UK) Limited Unaudited accounts for the year ended 31 January 2024
Condex (UK) Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
55,434 
75,714 
Current assets
Inventories
237,517 
160,698 
Debtors
428,145 
383,269 
Cash at bank and in hand
152,701 
103,397 
818,363 
647,364 
Creditors: amounts falling due within one year
(444,808)
(401,875)
Net current assets
373,555 
245,489 
Total assets less current liabilities
428,989 
321,203 
Provisions for liabilities
Deferred tax
(9,360)
(13,022)
Net assets
419,629 
308,181 
Capital and reserves
Called up share capital
102 
102 
Profit and loss account
419,527 
308,079 
Shareholders' funds
419,629 
308,181 
For the year ending 31 January 2024 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 October 2024 and were signed on its behalf by
D A Connor Director Company Registration No. 03464935
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Condex (UK) Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Condex (UK) Limited is a private company, limited by shares, registered in England and Wales, registration number 03464935. The registered office is White Cross, South Road, Lancaster, Lancashire, LA1 4XQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Motor vehicles
25% straight line
Computer equipment
20% straight line
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Foreign exchange
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Condex (UK) Limited Notes to the Accounts for the year ended 31 January 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 February 2023
175,488 
42,700 
35,087 
253,275 
Additions
2,147 
- 
199 
2,346 
At 31 January 2024
177,635 
42,700 
35,286 
255,621 
Depreciation
At 1 February 2023
101,836 
42,027 
33,698 
177,561 
Charge for the year
21,179 
674 
773 
22,626 
At 31 January 2024
123,015 
42,701 
34,471 
200,187 
Net book value
At 31 January 2024
54,620 
(1)
815 
55,434 
At 31 January 2023
73,652 
673 
1,389 
75,714 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
393,313 
372,484 
Other debtors
34,832 
10,785 
428,145 
383,269 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
73,108 
57,147 
Trade creditors
321,534 
335,325 
Taxes and social security
45,207 
5,612 
Other creditors
4,959 
776 
Loans from directors
- 
3,015 
444,808 
401,875 
7
Average number of employees
During the year the average number of employees was 7 (2023: 7).
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