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

REGISTERED NUMBER: 08930120 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Organikon Limited

Page

Company information

1

Income statement

2

Balance sheet

3

Notes to the financial statements

4

Directors:

Dr R Skordouli

Mr K Tsoulos

Registered office:

32 De Montfort Street

Leicester

Leicestershire

LE1 7GD

Registered number:

08930120 (England and Wales)

Accountants:

Pinnacle

Chartered Certified Accountants

& Registered Auditors

32 DeMontfort Street

Leicester

Leicestershire

LE1 7GD

TURNOVER

55,630

35,727

Administrative expenses

45,955

31,403

OPERATING PROFIT and

PROFIT BEFORE TAXATION

9,675

4,324

Tax on profit

6

-

-

PROFIT FOR THE FINANCIAL YEAR

9,675

4,324

FIXED ASSETS

Tangible assets

7

2,465

4,442

CURRENT ASSETS

Debtors

8

399

1,332

Cash at bank

3,393

4,303

3,792

5,635

CREDITORS

Amounts falling due within one year

9

21,557

35,052

NET CURRENT LIABILITIES

(17,765

)

(29,417

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(15,300

)

(24,975

)

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

(15,400

)

(25,075

)

SHAREHOLDERS' FUNDS

(15,300

)

(24,975

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors on 5 December 2019 and were signed on its behalf by:

Dr R Skordouli - Director

1.	STATUTORY INFORMATION

Organikon 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Tangible fixed assets

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

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - NIL ) .

31.3.19

31.3.18

£

£

Directors' remuneration

12,000

12,000

5.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.19

31.3.18

£

£

Depreciation - owned assets

1,977

1,979

6.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31 March 2019 nor for the year ended 31 March 2018.

7.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2018

and 31 March 2019

5,178

2,735

7,913

DEPRECIATION

At 1 April 2018

1,419

2,052

3,471

Charge for year

1,294

683

1,977

At 31 March 2019

2,713

2,735

5,448

NET BOOK VALUE

At 31 March 2019

2,465

-

2,465

At 31 March 2018

3,759

683

4,442

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

399

1,332

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

3,265

-

Taxation and social security

875

1,117

Other creditors

17,417

33,935

21,557

35,052

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

100

Ordinary shares

£1

100

100

11.

RESERVES

Retained

earnings

£

At 1 April 2018

(25,075

)

Profit for the year

9,675

At 31 March 2019

(15,400

)

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31 March 2019, other creditors include the following amounts due to directors:-

Dr R Skordoulis

£8,225

(2018 - £16,484

)

Mr K Tsoulos

£8,225

(2018 - £16,484

)

The loans are interest free and repayable on demand.

13.	ULTIMATE CONTROLLING PARTY

The company is not controlled by any single individual.