REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 2 August 2023 to 31 December 2024 |
for |
FUNCTION RX LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 2 August 2023 to 31 December 2024 |
for |
FUNCTION RX LIMITED |
FUNCTION RX LIMITED (REGISTERED NUMBER: 15044207) |
Contents of the Financial Statements |
FOR THE PERIOD 2 AUGUST 2023 TO 31 DECEMBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
FUNCTION RX LIMITED |
Company Information |
FOR THE PERIOD 2 AUGUST 2023 TO 31 DECEMBER 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
FUNCTION RX LIMITED (REGISTERED NUMBER: 15044207) |
Balance Sheet |
31 DECEMBER 2024 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Other reserves | 8 |
Retained earnings | 8 | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
FUNCTION RX LIMITED (REGISTERED NUMBER: 15044207) |
Balance Sheet - continued |
31 DECEMBER 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
FUNCTION RX LIMITED (REGISTERED NUMBER: 15044207) |
Notes to the Financial Statements |
FOR THE PERIOD 2 AUGUST 2023 TO 31 DECEMBER 2024 |
1. | STATUTORY INFORMATION |
Function Rx Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Plant and machinery etc | - |
Taxation |
Taxation for the period 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. |
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 period 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. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
FUNCTION RX LIMITED (REGISTERED NUMBER: 15044207) |
Notes to the Financial Statements - continued |
FOR THE PERIOD 2 AUGUST 2023 TO 31 DECEMBER 2024 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
Debtors |
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. |
Creditors |
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Financial instruments |
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. |
Interest income |
Interest income is recognised in profit or loss using the effective interest method. |
Going concern |
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a period of at least twelve months from the date of signing this report. |
The Company relies on the continued support from its investors which have confirmed that it will continue to provide this for the foreseeable future. On that basis, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
FUNCTION RX LIMITED (REGISTERED NUMBER: 15044207) |
Notes to the Financial Statements - continued |
FOR THE PERIOD 2 AUGUST 2023 TO 31 DECEMBER 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
Additions |
At 31 December 2024 |
DEPRECIATION |
Charge for period |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
Tax |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Other creditors |
Accrued expenses |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | 0.000 | 1 | 103 |
FUNCTION RX LIMITED (REGISTERED NUMBER: 15044207) |
Notes to the Financial Statements - continued |
FOR THE PERIOD 2 AUGUST 2023 TO 31 DECEMBER 2024 |
8. | RESERVES |
Retained | Other |
earnings | reserves | Totals |
£ | £ | £ |
Deficit for the period | ( |
) | ( |
) |
Capital introduced | - | 9,395,840 | 9,395,840 |
At 31 December 2024 | ( |
) | 7,231,823 |
9. | ULTIMATE CONTROLLING PARTY |
The company is owned by a number of private shareholders and companies, none of whom own more than 50% of the issued share capital of the company. |
Accordingly there is no parent entity nor ultimate controlling party. |