Deflux Holdings Limited - Limited company accounts 20.1

REGISTERED NUMBER: 08589873 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 December 2020

for

Deflux Holdings Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

The Hon T A Fitzherbert

P M Hughes

SECRETARY:

REGISTERED OFFICE:

Winchester House

Dean Gate Avenue

Taunton

Somerset

TA1 2UH

REGISTERED NUMBER:

08589873 (England and Wales)

ACCOUNTANTS:

MSS Accountancy Services Ltd

341 Garratt Lane

Wandsworth

London

SW18 4DX

The directors present their report with the financial statements of the company for the year ended 31 December 2020.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of telecommunications, specifically enabling network solutions.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2020 to the date of this report.

The Hon T A Fitzherbert

P M Hughes

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

The Hon T A Fitzherbert - Director

9 September 2021

TURNOVER

-

-

Administrative expenses

19,363

16,344

OPERATING LOSS

4

(19,363

)

(16,344

)

Interest payable and similar expenses

5

-

LOSS BEFORE TAXATION

(19,368

)

(16,344

)

Tax on loss

-

-

LOSS FOR THE FINANCIAL YEAR

(19,368

)

(16,344

)

FIXED ASSETS

Intangible assets

5

134,560

134,339

Investments

6

2

2

134,562

134,341

CURRENT ASSETS

Cash at bank

62

-

CREDITORS

Amounts falling due within one year

7

165,213

145,562

NET CURRENT LIABILITIES

(165,151

)

(145,562

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(30,589

)

(11,221

)

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

(30,591

)

(11,223

)

SHAREHOLDERS' FUNDS

(30,589

)

(11,221

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

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

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2021 and were signed on its behalf by:

The Hon T A Fitzherbert - Director

1.	STATUTORY INFORMATION

Deflux Holdings 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.

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.

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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	OPERATING LOSS

The operating loss is stated after charging:

31.12.20

31.12.19

£

£

Patents and licences amortisation

19,363

16,344

5.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 January 2020

184,513

Additions

21,839

At 31 December 2020

206,352

AMORTISATION

At 1 January 2020

50,174

Amortisation for year

19,363

Reclassification/transfer

2,255

At 31 December 2020

71,792

NET BOOK VALUE

At 31 December 2020

134,560

At 31 December 2019

134,339

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2020

and 31 December 2020

2

NET BOOK VALUE

At 31 December 2020

2

At 31 December 2019

2

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Amounts owed to group undertakings

165,213

145,562

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.20

31.12.19

value:

£

£

2

Ordinary

£1.00

2

2