REGISTERED NUMBER: 06424596 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Gexcon UK Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D Price

G Morrison

B E Osthus

S F Enge

REGISTERED OFFICE:

32 Derby Street

Ormskirk

Lancashire

L39 2BY

REGISTERED NUMBER:

06424596 (England and Wales)

AUDITORS:

Myersons

Statutory Auditors

Chartered Accountants

32 Derby Street

Ormskirk

Lancashire

L39 2BY

FIXED ASSETS

Intangible assets

4

8,668

13,948

Tangible assets

5

67,413

76,731

76,081

90,679

CURRENT ASSETS

Debtors

6

869,934

503,026

Cash at bank and in hand

171,901

28,878

1,041,835

531,904

CREDITORS

Amounts falling due within one year

7

551,288

422,783

NET CURRENT ASSETS

490,547

109,121

TOTAL ASSETS LESS CURRENT LIABILITIES

566,628

199,800

CREDITORS

Amounts falling due after more than one year

8

345,000

-

NET ASSETS

221,628

199,800

CAPITAL AND RESERVES

Called up share capital

10

10,000

10,000

Retained earnings

211,628

189,800

SHAREHOLDERS' FUNDS

221,628

199,800

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 9 September 2025 and were signed on its behalf by:

D Price - Director

1.	STATUTORY INFORMATION

Gexcon UK 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Computer software is being developed internally and is measured at cost less any accumulated amortisation and any accumulated impairment losses. It is being amortised evenly over its estimated useful life of four years. Future economic benefits and revenues are expected to be achieved once the software has been fully developed.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

25% on cost

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

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.

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.

Research and development

Expenditure incurred on research and development is expensed in the profit and loss or capitalised as an intangible fixed asset dependent on its nature.

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 are either direct to employee personal pension schemes or an auto enrolment scheme set up by the company. All are charged to the profit and loss account in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2023 - 37 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 January 2024

and 31 December 2024

84,284

AMORTISATION

At 1 January 2024

70,336

Amortisation for year

5,280

At 31 December 2024

75,616

NET BOOK VALUE

At 31 December 2024

8,668

At 31 December 2023

13,948

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

39,989

8,128

22,091

109,476

179,684

Additions

-

-

-

17,775

17,775

At 31 December 2024

39,989

8,128

22,091

127,251

197,459

DEPRECIATION

At 1 January 2024

16,192

7,321

13,481

65,959

102,953

Charge for year

6,524

-

2,187

18,382

27,093

At 31 December 2024

22,716

7,321

15,668

84,341

130,046

NET BOOK VALUE

At 31 December 2024

17,273

807

6,423

42,910

67,413

At 31 December 2023

23,797

807

8,610

43,517

76,731

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

576,946

426,913

Amounts owed by group undertakings

56,659

-

Tax

-

24,545

Deferred tax asset

18,662

18,662

Prepayments and accrued income

217,667

32,906

869,934

503,026

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

42,626

94,550

Amounts owed to group undertakings

9,025

68,572

Social security and other taxes

71,985

67,588

VAT

125,337

61,591

Other creditors

23,391

7,300

Accruals and deferred income

278,924

123,182

551,288

422,783

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed to group undertakings

345,000

-

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

90,169

90,769

Between one and five years

169,044

236,988

259,213

327,757

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

10,000

Ordinary

£1

10,000

10,000

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nicola Price ACA FCCA (Senior Statutory Auditor)

for and on behalf of Myersons

12.	ULTIMATE CONTROLLING PARTY