IRIS Accounts Production v24.3.0.553 08851264 director 1.2.23 31.1.24 31.1.24 false true false false true false Ordinary Shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh088512642023-01-31088512642024-01-31088512642023-02-012024-01-31088512642022-01-31088512642022-02-012023-01-31088512642023-01-3108851264ns15:EnglandWales2023-02-012024-01-3108851264ns14:PoundSterling2023-02-012024-01-3108851264ns10:Director12023-02-012024-01-3108851264ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3108851264ns10:SmallEntities2023-02-012024-01-3108851264ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3108851264ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3108851264ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3108851264ns10:FullAccounts2023-02-012024-01-3108851264ns10:OrdinaryShareClass12023-02-012024-01-3108851264ns10:RegisteredOffice2023-02-012024-01-3108851264ns5:CurrentFinancialInstruments2024-01-3108851264ns5:CurrentFinancialInstruments2023-01-3108851264ns5:Non-currentFinancialInstruments2024-01-3108851264ns5:Non-currentFinancialInstruments2023-01-3108851264ns5:ShareCapital2024-01-3108851264ns5:ShareCapital2023-01-3108851264ns5:RetainedEarningsAccumulatedLosses2024-01-3108851264ns5:RetainedEarningsAccumulatedLosses2023-01-3108851264ns5:PlantMachinery2023-02-012024-01-3108851264ns5:FurnitureFittings2023-02-012024-01-3108851264ns5:ComputerEquipment2023-02-012024-01-3108851264ns5:PlantMachinery2023-01-3108851264ns5:FurnitureFittings2023-01-3108851264ns5:ComputerEquipment2023-01-3108851264ns5:PlantMachinery2024-01-3108851264ns5:FurnitureFittings2024-01-3108851264ns5:ComputerEquipment2024-01-3108851264ns5:PlantMachinery2023-01-3108851264ns5:FurnitureFittings2023-01-3108851264ns5:ComputerEquipment2023-01-3108851264ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3108851264ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3108851264ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-01-3108851264ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-01-3108851264ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-01-3108851264ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-01-3108851264ns10:OrdinaryShareClass12024-01-31088512641ns10:Director12023-01-31088512641ns10:Director12022-01-31088512641ns10:Director12023-02-012024-01-31088512641ns10:Director12022-02-012023-01-31088512641ns10:Director12024-01-31088512641ns10:Director12023-01-31
REGISTERED NUMBER: 08851264 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

VORTEX LTD

VORTEX LTD (Registered number: 08851264)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


VORTEX LTD

Company Information
for the Year Ended 31 January 2024







DIRECTOR: J Daureeawo





REGISTERED OFFICE: 27 Old Gloucester Road
London
WC1N 3AX





REGISTERED NUMBER: 08851264 (England and Wales)






VORTEX LTD (Registered number: 08851264)

Statement of Financial Position
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,008 3,759

CURRENT ASSETS
Debtors 5 46,743 53,400
Cash at bank 10,911 2,340
57,654 55,740
CREDITORS
Amounts falling due within one year 6 48,601 45,315
NET CURRENT ASSETS 9,053 10,425
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,061

14,184

CREDITORS
Amounts falling due after more than one
year

7

10,871

13,945
NET ASSETS 1,190 239

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,090 139
SHAREHOLDER FUNDS 1,190 239

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

VORTEX LTD (Registered number: 08851264)

Statement of Financial Position - continued
31 January 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 director and authorised for issue on 28 November 2024 and were signed by:





J Daureeawo - Director


VORTEX LTD (Registered number: 08851264)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

VORTEX 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The director has assessed the balance sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the company has adequate resources to continue in operational existence and meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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 rendering of services.

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.

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 - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% 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 statement of financial position date.


VORTEX LTD (Registered number: 08851264)

Notes to the Financial Statements - continued
for the Year Ended 31 January 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 statement of financial position 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.

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.

Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

VORTEX LTD (Registered number: 08851264)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 February 2023
and 31 January 2024 1,408 3,753 7,585 12,746
DEPRECIATION
At 1 February 2023 1,203 2,845 4,939 8,987
Charge for year 41 181 529 751
At 31 January 2024 1,244 3,026 5,468 9,738
NET BOOK VALUE
At 31 January 2024 164 727 2,117 3,008
At 31 January 2023 205 908 2,646 3,759

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors - 2,400
Other debtors 46,743 51,000
46,743 53,400

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts (see note 8) 5,000 5,000
Taxation and social security 40,481 39,595
Other creditors 3,120 720
48,601 45,315

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans (see note 8) 10,871 13,945

VORTEX LTD (Registered number: 08851264)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. LOANS

An analysis of the maturity of loans is given below:

31.1.24 31.1.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 5,000 5,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,000 5,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 5,871 8,945

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary Shares £1 100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
J Daureeawo
Balance outstanding at start of year 33,000 31,717
Amounts advanced 17,000 33,283
Amounts repaid (33,257 ) (32,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16,743 33,000

During the year under review, the director received advances from the company as shown under other debtors. The advances were unsecured, repayable on demand and interest was charged at the rate of 2.5% per annum. The advances were repaid in full before the approval date of these financial statements.