Hygienex Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 06447301 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2022

for

Hygienex Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S M Rice

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

FIXED ASSETS

Intangible assets

4

-

7,500

Tangible assets

5

433,928

419,634

433,928

427,134

CURRENT ASSETS

Stocks

102,000

102,000

Debtors

328,776

420,750

Cash at bank and in hand

215,955

321,595

646,731

844,345

CREDITORS

Amounts falling due within one year

507,596

505,880

NET CURRENT ASSETS

139,135

338,465

TOTAL ASSETS LESS CURRENT LIABILITIES

573,063

765,599

CREDITORS

Amounts falling due after more than one year

299,633

361,448

NET ASSETS

273,430

404,151

CAPITAL AND RESERVES

Called up share capital

699

699

Capital redemption reserve

301

301

Retained earnings

272,430

403,151

SHAREHOLDERS' FUNDS

273,430

404,151

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 September 2022 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 director and authorised for issue on 12 December 2022 and were signed by:

S M Rice - Director

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.

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.

Financial assets and liabilities

Short term debtors are measured at transaction price, less any impairment. Other financial assets, including loans to group companies are measured initially at fair value net of transaction costs and are subsequently measured at amortised cost using the effective interest method, less any impairment.

Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, are measured initially at fair value net of transaction costs and are subsequently measured at amortised cost using the effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2021 - 27 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2021

and 30 September 2022

123,000

AMORTISATION

At 1 October 2021

115,500

Amortisation for year

7,500

At 30 September 2022

123,000

NET BOOK VALUE

At 30 September 2022

-

At 30 September 2021

7,500

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2021

715,365

Additions

127,088

Disposals

(23,086

)

At 30 September 2022

819,367

DEPRECIATION

At 1 October 2021

295,731

Charge for year

108,414

Eliminated on disposal

(18,706

)

At 30 September 2022

385,439

NET BOOK VALUE

At 30 September 2022

433,928

At 30 September 2021

419,634

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 October 2021

464,575

5,797

470,372

Additions

98,095

-

98,095

Disposals

(14,195

)

-

(14,195

)

Transfer to ownership

(79,171

)

(5,797

)

(84,968

)

At 30 September 2022

469,304

-

469,304

DEPRECIATION

At 1 October 2021

187,682

4,288

191,970

Charge for year

72,810

-

72,810

Eliminated on disposal

(10,775

)

-

(10,775

)

Transfer to ownership

(59,242

)

(4,288

)

(63,530

)

At 30 September 2022

190,475

-

190,475

NET BOOK VALUE

At 30 September 2022

278,829

-

278,829

At 30 September 2021

276,893

1,509

278,402

6.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank loans

179,167

240,393

Hire purchase contracts

254,824

270,310

433,991

510,703

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 30 September 2022, the company owed Blitz Hygiene Limited £35,178.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Hygienex (Holdings) Limited.

The ultimate controlling parties are Mr S M & Mrs L M Rice.