Hygienex Limited - Accounts to registrar (filleted) - small 18.2

Hygienex Limited - Accounts to registrar (filleted) - small 18.2

HYGIENEX LTD - Company Information

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REGISTERED NUMBER: 06447301 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2018

for

Hygienex Limited
Hygienex Limited (Registered number: 06447301)






Contents of the Financial Statements
for the Year Ended 31 December 2018




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Hygienex Limited

Company Information
for the Year Ended 31 December 2018







DIRECTORS: S M Rice
K J Reed





REGISTERED OFFICE: Unit 4
Victoria Way
Pride Park
Derby
DE24 8AN





REGISTERED NUMBER: 06447301 (England and Wales)





ACCOUNTANTS: Bourne & Co.
Chartered Accountants
3 Charnwood Street
Derby
Derbyshire
DE1 2GY
Page 1
Hygienex Limited (Registered number: 06447301)

Abridged Balance Sheet
31 December 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 40,500 58,800
Tangible assets 5 136,071 152,242
176,571 211,042

CURRENT ASSETS
Stocks 102,000 70,000
Debtors 242,214 413,017
Cash at bank and in hand 20,857 86,555
365,071 569,572
CREDITORS
Amounts falling due within one year 295,198 430,168
NET CURRENT ASSETS 69,873 139,404
TOTAL ASSETS LESS CURRENT LIABILITIES 246,444 350,446

CREDITORS
Amounts falling due after more than one year (67,335 ) (71,218 )

PROVISIONS FOR LIABILITIES (3,343 ) (15,863 )
NET ASSETS 175,766 263,365

CAPITAL AND RESERVES
Called up share capital 699 699
Capital redemption reserve 301 301
Retained earnings 174,766 262,365
SHAREHOLDERS' FUNDS 175,766 263,365

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The notes form part of these financial statements

Page 2 continued...
Hygienex Limited (Registered number: 06447301)

Abridged Balance Sheet - continued
31 December 2018


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 2 September 2019 and were signed on its behalf by:




S M Rice - Director



K J Reed - Director


The notes form part of these financial statements

Page 3
Hygienex Limited (Registered number: 06447301)

Notes to the Financial Statements
for the Year Ended 31 December 2018

1. STATUTORY INFORMATION

Hygienex Limited 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.

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
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any
accumulated amortisation and any accumulated impairment losses.

Licences are being amortised evenly over their estimated useful life of ten years.

Software development costs is being amortised evenly over its estimated useful life of five years.

Software development costs
Software development costs have been capitalised and amortised once the products development has finished and made
available to the market.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Equipment and tools - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving
items.

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.

Page 4 continued...
Hygienex Limited (Registered number: 06447301)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2018

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under
hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated
over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the
future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2017 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2018
and 31 December 2018 123,000
AMORTISATION
At 1 January 2018 64,200
Amortisation for year 18,300
At 31 December 2018 82,500
NET BOOK VALUE

At 31 December 2018 40,500
At 31 December 2017 58,800

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2018 272,405
Additions 29,686
Disposals (13,500 )
At 31 December 2018 288,591
DEPRECIATION
At 1 January 2018 120,163
Charge for year 42,140
Eliminated on disposal (9,783 )
At 31 December 2018 152,520
NET BOOK VALUE
At 31 December 2018 136,071
At 31 December 2017 152,242

Page 5 continued...
Hygienex Limited (Registered number: 06447301)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2018

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2018 118,717 - 118,717
Additions 23,708 5,797 29,505
At 31 December 2018 142,425 5,797 148,222
DEPRECIATION
At 1 January 2018 22,292 - 22,292
Charge for year 19,003 1,320 20,323
At 31 December 2018 41,295 1,320 42,615
NET BOOK VALUE
At 31 December 2018 101,130 4,477 105,607
At 31 December 2017 96,425 - 96,425

6. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank loans 13,738 23,644
Hire purchase contracts 96,704 95,255
110,442 118,899

The National Westminster Bank plc hold a debenture over the company's assets dated 22 October 2009.

7. RELATED PARTY DISCLOSURES

The company operates a inter-company loan account with Blitz Hygiene Limited, which owns a property from which the
company trades.

During the year, rent totalling £6,000 was charged. At 31 December 2018, the company owed Blitz Hygiene Limited
£22,611.

8. ULTIMATE CONTROLLING PARTY

The controlling party is S M Rice.

Page 6