ACCOUNTS - Final Accounts

Registered number: 15636963

OVARTIX LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2024

OVARTIX LTD

REGISTERED NUMBER: 15636963

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024
Note		£

FIXED ASSETS
Tangible assets	4		1,647
Investments	5		4,521
			6,168
CURRENT ASSETS
Debtors: amounts falling due within one year	6	8,744
Cash at bank and in hand		102,523
		111,267
Creditors: amounts falling due within one year	7	(165,016)
NET CURRENT LIABILITIES			(53,749)
TOTAL ASSETS LESS CURRENT LIABILITIES			(47,581)

NET LIABILITIES			(47,581)

CAPITAL AND RESERVES
Called up share capital	8	1
Profit and loss account		(47,582)
		(47,581)

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OVARTIX LTD

REGISTERED NUMBER: 15636963

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Stasa Stankovic

Director

Date: 16 September 2025

The notes on pages 3 to 7 form part of these financial statements.

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OVARTIX LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

1.	GENERAL INFORMATION

Ovartix Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is 59 Weymouth Street, London, England, W1G 8NT.
The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

GOING CONCERN

The Company has net liabilities as at 31 December 2024 amounting to £48,081.
The financial statements are prepared on the going concern basis on the assumption that the Company will continue to receive sufficient financial support from its shareholders to provide sufficient funds to enable it to meet its liabilities as they fall due.

2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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OVARTIX LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

2.4

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.5

RESEARCH AND DEVELOPMENT

Research and development costs are written off as they are incurred.

2.6

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.7

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.8

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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OVARTIX LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

2.9

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

2.10

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.

2.11

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.12

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.

EMPLOYEES

The average monthly number of employees, including the directors, during the period was 2.

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OVARTIX LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

4.	TANGIBLE FIXED ASSETS

		Computer equipment
		£
	COST
	Additions	1,675
	At 31 December 2024	1,675
	DEPRECIATION
	Charge for the period on owned assets	28
	At 31 December 2024	28
	NET BOOK VALUE
	At 31 December 2024	1,647

5.	FIXED ASSET INVESTMENTS

		Investments in subsidiary companies
		£
	COST
	Additions	4,521
	At 31 December 2024	4,521

DEBTORS

					2024
					£


	Other debtors	3,640
	Prepayments and accrued income	5,104
		8,744

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OVARTIX LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

7.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2024
		£

	Trade creditors	15,791
	Amounts owed to group undertakings	134,423
	Other taxation and social security	5,060
	Other creditors	5,278
	Accruals and deferred income	4,464
		165,016

8.	SHARE CAPITAL
		2024
		£

		ALLOTTED, CALLED UP AND FULLY PAID

		1,000,000 Ordinary shares of £0.000001 each	1

On incorporation, the Company issued 100 Ordinary £1 shares at par.
On 26 July 2024 these shares were subdivided into 1,000,000 Ordinary £0.000001 shares.

9.	PENSION COMMITMENTS

The Company operates a defined contributions penson scheme. The assets of the scheme are held separately from those of the Company in and independently administered fund. The pension cost represents contributions payable by the Company to the fund and amounted to £486. Total pension contributions outstanding at the yearend amounted to £691.

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