Registered number
12464744
Krex Ltd
Filleted Accounts
29 February 2024
Krex Ltd
Registered number: 12464744
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 - 80
Investments 4 432,570 432,570
432,570 432,650
Current assets
Debtors 5 951 609
Cash at bank and in hand 8,618 2,254
9,569 2,863
Creditors: amounts falling due within one year 6 (169,325) (168,918)
Net current liabilities (159,756) (166,055)
Total assets less current liabilities 272,814 266,595
Creditors: amounts falling due after more than one year 7 (294,435) (294,435)
Net liabilities (21,621) (27,840)
Capital and reserves
Called up share capital 100 100
Profit and loss account (21,721) (27,940)
Shareholders' funds (21,621) (27,840)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Kristian Barber
Director
Approved by the board on 5 November 2024
Krex Ltd
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes rents receivable in the period.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 637
At 29 February 2024 637
Depreciation
At 1 March 2023 557
Charge for the year 80
At 29 February 2024 637
Net book value
At 29 February 2024 -
At 28 February 2023 80
4 Investments
Other
investments
£
Cost
At 1 March 2023 432,570
At 29 February 2024 432,570
5 Debtors 2024 2023
£ £
Other debtors 951 609
6 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 169,325 168,918
7 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 294,435 294,435
8 Other information
Krex Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Office No.85
188 Liscard Road
Wallasey
Wirral
CH44 5TN
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