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

REGISTERED NUMBER: 08573833 (England and Wales)

Financial Statements for the Year Ended 30 June 2021

for

ORGANEX LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

JJ Duckenfield

Dr J C Duckenfield

SECRETARY:

Dr J C Duckenfield

REGISTERED OFFICE:

Annecy Court

Ferry Works

Summer Road

Thames Ditton

Surrey

KT7 0QJ

REGISTERED NUMBER:

08573833 (England and Wales)

ACCOUNTANTS:

BDA Associates Limited

Chartered Accountants

Annecy Court

Ferry Works

Summer Road

Thames Ditton

Surrey

KT7 0QJ

FIXED ASSETS

Tangible assets

4

1,006

1,509

CURRENT ASSETS

Debtors

5

-

263,251

Cash at bank

237,333

60,003

237,333

323,254

CREDITORS

Amounts falling due within one year

6

8,690

6,164

NET CURRENT ASSETS

228,643

317,090

TOTAL ASSETS LESS CURRENT LIABILITIES

229,649

318,599

CREDITORS

Amounts falling due after more than one year

7

226,250

316,638

NET ASSETS

3,399

1,961

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

3,299

1,861

SHAREHOLDERS' FUNDS

3,399

1,961

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2022 and were signed on its behalf by:

JJ Duckenfield - Director

1.	STATUTORY INFORMATION

Organex 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.

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.

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

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 July 2020

and 30 June 2021

2,515

DEPRECIATION

At 1 July 2020

1,006

Charge for year

503

At 30 June 2021

1,509

NET BOOK VALUE

At 30 June 2021

1,006

At 30 June 2020

1,509

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Amounts due from related parties

-

253,126

Other debtors

-

10,125

-

263,251

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Taxation and social security

1,034

-

Other creditors

7,656

6,164

8,690

6,164

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Other creditors

226,250

316,638

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.21

30.6.20

value:

£

£

100

Ordinary

1

100

100

9.	RELATED PARTY DISCLOSURES

At the start of the year £253,126 of loan notes with Hobs Group Ltd were outstanding. These loan notes were repaid in full during the year.

An unsecured loan from Dr J C Duckenfield for the original purchase of these loan notes had interest accruing quarterly in the sum of 4.75% above the Bank of England base rate whilst the loan notes were in existence. .Once the loan notes were repaid to the Company this loan became repayable on demand and interest ceased.. At the year end the liability to the Company was £236,636 (2020 - £316,638).