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REGISTERED NUMBER: 07100978 (England and Wales)












Unaudited Financial Statements

For The Year Ended 31 March 2024

for

Recx Ltd

Recx Ltd (Registered number: 07100978)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Recx Ltd

Company Information
For The Year Ended 31 March 2024







Directors: Mr T G Austwick
Mr N S Catlow
Mr J D Vaughan





Secretary:





Registered office: 18/22 Church Street
Malvern
Worcestershire
WR14 2AY





Registered number: 07100978 (England and Wales)





Accountants: Allan Brown ( A& T Services Ltd)
18/22 Church Street
Malvern
Worcestershire
WR14 2AY

Recx Ltd (Registered number: 07100978)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 11,366 22,684

Current assets
Debtors 5 46,982 69,588
Cash at bank and in hand 565,850 402,609
612,832 472,197
Creditors
Amounts falling due within one year 6 244,386 135,724
Net current assets 368,446 336,473
Total assets less current liabilities 379,812 359,157

Provisions for liabilities 4,131 4,131
Net assets 375,681 355,026

Capital and reserves
Called up share capital 12 12
Retained earnings 375,669 355,014
Shareholders' funds 375,681 355,026

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Recx Ltd (Registered number: 07100978)

Balance Sheet - continued
31 March 2024


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 25 July 2024 and were signed on its behalf by:




Mr N Catlow - Director



Mr J Vaughan - Director


Recx Ltd (Registered number: 07100978)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Recx 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 financial statements have been prepared in accordance with applicable accounting standards. The principal accounting policies are set out below.

Turnover


Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Where a contract has only been partially completed at the balance sheet date ,turnover represents the value of the service provided to date based upon a proportion of the total expected consideration at completion.



The company supplies bespoke software together with the maintenance and the right to upgrades for periods longer than one year.The maintenance and upgrades are essential for the satisfactory operation of the software.Sales of the maintenance and upgrades in this instance are recognised over the period of the maintenance and upgrade agreement in accordance with FRS 5 paragraph G34.Sales of software are recognised when invoiced.

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 - 25% on reducing balance

Taxation
Taxation for the year 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.


Recx Ltd (Registered number: 07100978)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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 year 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.

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 year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 94,202
Additions 5,395
Disposals (42,442 )
At 31 March 2024 57,155
DEPRECIATION
At 1 April 2023 71,518
Charge for year 7,020
Eliminated on disposal (32,749 )
At 31 March 2024 45,789
NET BOOK VALUE
At 31 March 2024 11,366
At 31 March 2023 22,684

Recx Ltd (Registered number: 07100978)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 39,435 65,349
Other debtors 7,547 4,239
46,982 69,588

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 112 36,738
Taxation and social security 103,829 65,760
Other creditors 140,445 33,226
244,386 135,724