Company Registration No. 10680977 (England and Wales)
Genox Recycling Technology (UK) Ltd.
Unaudited accounts
for the year ended 31 March 2019
Genox Recycling Technology (UK) Ltd.
Unaudited accounts
Contents
Genox Recycling Technology (UK) Ltd.
Company Information
for the year ended 31 March 2019
Company Number
10680977 (England and Wales)
Registered Office
2 Curzon Road
Offerton
Stockport
Cheshire
SK2 5DH
Accountants
Bee Motion Accounting Ltd
136 Hall Street
Offerton
Stockport
Cheshire
SK1 4HE
Genox Recycling Technology (UK) Ltd.
Statement of financial position
as at 31 March 2019
Tangible assets
7,859
8,500
Cash at bank and in hand
7,767
16,252
Creditors: amounts falling due within one year
(194,168)
(126,203)
Net current assets/(liabilities)
2,419
(8,152)
Total assets less current liabilities
10,278
348
Provisions for liabilities
Called up share capital
1,000
1,000
Profit and loss account
7,785
(652)
Shareholders' funds
8,785
348
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 10 September 2019.
John Dakin
Director
Company Registration No. 10680977
Genox Recycling Technology (UK) Ltd.
Notes to the Accounts
for the year ended 31 March 2019
Genox Recycling Technology (UK) Ltd. is a private company, limited by shares, registered in England and Wales, registration number 10680977. The registered office is 2 Curzon Road, Offerton, Stockport, Cheshire, SK2 5DH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparing the financial statements These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Motor vehicles
15% Reducing Balance
Computer equipment
15% Reducing Balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Genox Recycling Technology (UK) Ltd.
Notes to the Accounts
for the year ended 31 March 2019
The company has considerable financial resources together with contracts with a number of clients.
After making enquiries, the director has reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least twelve months and for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2018
-
10,000
-
10,000
At 31 March 2019
317
10,000
528
10,845
At 1 April 2018
-
1,500
-
1,500
Charge for the year
79
1,275
132
1,486
At 31 March 2019
79
2,775
132
2,986
At 31 March 2019
238
7,225
396
7,859
At 31 March 2018
-
8,500
-
8,500
Trade debtors
188,406
87,224
Accrued income and prepayments
414
14,575
6
Creditors: amounts falling due within one year
2019
2018
Trade creditors
7,399
14,413
Taxes and social security
6,941
14,807
Loans from directors
20,870
22,563
Deferred income
157,804
73,240
7
Deferred taxation
2019
2018
Accelerated capital allowances
1,493
-
Genox Recycling Technology (UK) Ltd.
Notes to the Accounts
for the year ended 31 March 2019
Charged to the profit and loss account
1,493
-
Provision at end of year
1,493
-
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
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Average number of employees
During the year the average number of employees was 1 (2018: 1).
