Foregenix Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06893496 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

FOREGENIX LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Bontoft

B Hosack

C G Charette

SECRETARY:

B Hosack

REGISTERED OFFICE:

8/9 High Street

Marlborough

Wiltshire

SN8 1AA

REGISTERED NUMBER:

06893496 (England and Wales)

ACCOUNTANTS:

d&t

Chartered Accountants

Swatton Barn

Badbury

Swindon

Wiltshire

SN4 0EU

FIXED ASSETS

Tangible assets

4

23,990

47,743

Investments

5

19,451

19,451

43,441

67,194

CURRENT ASSETS

Debtors

6

1,889,960

1,971,313

Cash at bank and in hand

448,196

6,360

2,338,156

1,977,673

CREDITORS

Amounts falling due within one year

7

1,164,325

1,041,120

NET CURRENT ASSETS

1,173,831

936,553

TOTAL ASSETS LESS CURRENT LIABILITIES

1,217,272

1,003,747

CREDITORS

Amounts falling due after more than one year

8

(325,345

)

(167,078

)

PROVISIONS FOR LIABILITIES

(4,558

)

(9,017

)

NET ASSETS

887,369

827,652

CAPITAL AND RESERVES

Called up share capital

440

640

Share premium

53,800

53,800

Capital redemption reserve

200

-

Retained earnings

832,929

773,212

SHAREHOLDERS' FUNDS

887,369

827,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 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.

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 and authorised for issue on 8 July 2021 and were signed on its behalf by:

A Bontoft - Director

1.	STATUTORY INFORMATION

Foregenix Ltd 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.

TANGIBLE FIXED ASSETS

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

Plant and machinery etc

-

25% straight line basis

GOVERNMENT GRANTS

The company have accounted for government grants due to them at the reporting date, as a result of the country going into lockdown due to Covid-19 in late March 2020. The funds that the company have reported have been accounted for on an accruals basis.

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiaries are valued at cost less any impairment.

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

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 40 (2019 - 44 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2019

288,812

Additions

5,338

At 30 September 2020

294,150

DEPRECIATION

At 1 October 2019

241,069

Charge for year

29,091

At 30 September 2020

270,160

NET BOOK VALUE

At 30 September 2020

23,990

At 30 September 2019

47,743

5.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in joint

undertakings

venture

Totals

£

£

£

COST

At 1 October 2019

and 30 September 2020

19,401

50

19,451

NET BOOK VALUE

At 30 September 2020

19,401

50

19,451

At 30 September 2019

19,401

50

19,451

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

576,765

503,815

Other debtors

1,313,195

1,467,498

1,889,960

1,971,313

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

91,704

217,680

Trade creditors

192,464

250,502

Taxation and social security

254,576

200,088

Other creditors

625,581

372,850

1,164,325

1,041,120

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

325,345

167,078

9.	LEASING AGREEMENTS

At 30 September 2020, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £nil (2019: £1,005).

10.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

417,049

384,758

The loan is secured by way of a fixed and floating charge over assets of the company dated 24 October 2018.

11.	RELATED PARTY DISCLOSURES

Unless otherwise disclosed, all related party transactions have been conducted under normal market

conditions, including dividend payments to it's shareholders.

During the year, monies were advanced to the directors of £34,510.