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

REGISTERED NUMBER: 04306288 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Cyrex Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr A J Smith

SECRETARY:

HSA Bookkeeping Ltd

REGISTERED OFFICE:

Lewis House

Great Chesterford Court

Great Chesterford

Essex

CB10 1PF

BUSINESS ADDRESS:

Unit 36 Hoddesdon Industrial Centre

Pindar Road

Hoddesdon

Hertfordshire

EN11 0FF

REGISTERED NUMBER:

04306288 (England and Wales)

FIXED ASSETS

Intangible assets

5

9,413

1,976

Tangible assets

6

21,928

15,205

Investments

7

80

80

31,421

17,261

CURRENT ASSETS

Stocks

155,455

157,265

Debtors

8

208,931

134,269

Cash at bank

152,991

216,400

517,377

507,934

CREDITORS

Amounts falling due within one year

9

(140,391

)

(87,197

)

NET CURRENT ASSETS

376,986

420,737

TOTAL ASSETS LESS CURRENT LIABILITIES

408,407

437,998

PROVISIONS FOR LIABILITIES

(4,166

)

(2,889

)

NET ASSETS

404,241

435,109

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

404,239

435,107

SHAREHOLDERS' FUNDS

404,241

435,109

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 director acknowledges his 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 18 December 2019 and were signed by:

Mr A J Smith - Director

1.	STATUTORY INFORMATION

Cyrex 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Investments in associates

Unlisted fixed asset investments are initially recorded at cost, and then subsequently stated at cost less any

accumulated impairment losses as there is no reliable fair value available.

Stocks

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

moving items.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual

provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in

effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a

market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised 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 on research and development is written off in the year in which it is incurred.

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 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 10 (2018 - 11 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2018

9,528

Additions

8,847

At 31 March 2019

18,375

AMORTISATION

At 1 April 2018

7,552

Charge for year

1,410

At 31 March 2019

8,962

NET BOOK VALUE

At 31 March 2019

9,413

At 31 March 2018

1,976

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

48,204

Additions

14,462

Disposals

(1,287

)

At 31 March 2019

61,379

DEPRECIATION

At 1 April 2018

32,999

Charge for year

7,306

Eliminated on disposal

(854

)

At 31 March 2019

39,451

NET BOOK VALUE

At 31 March 2019

21,928

At 31 March 2018

15,205

7.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 April 2018

and 31 March 2019

80

NET BOOK VALUE

At 31 March 2019

80

At 31 March 2018

80

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

63,662

63,931

Amounts owed by group undertakings

121,414

40,819

Other debtors

23,855

29,519

208,931

134,269

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

41,914

11,068

Taxation and social security

7,087

27,074

Other creditors

91,390

49,055

140,391

87,197

Included within other creditors disclosed above is a balance of £2,372 (2018 - £976) in relation to accruals, a

balance of £88,217 (2018 - £48,021) in relation to director's loan account, and a balance of £801 (2018 - £58) in

relation to other creditors.

10.	LEASING AGREEMENTS

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

2019

2018

£

£

Between one and five years

37,932

63,220