Fimatix UK Ltd - Accounts to registrar (filleted) - small 23.2.5
Fimatix UK Ltd - Accounts to registrar (filleted) - small 23.2.5
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
FIMATIX UK LTD |
FIMATIX UK LTD (REGISTERED NUMBER: 10860988) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
FIMATIX UK LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
trading as |
Peter Jarman & Company |
1 Harbour House |
Harbour Way |
Shoreham by Sea |
West Sussex |
BN43 5HZ |
FIMATIX UK LTD (REGISTERED NUMBER: 10860988) |
BALANCE SHEET |
30 JUNE 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
FIMATIX UK LTD (REGISTERED NUMBER: 10860988) |
BALANCE SHEET - continued |
30 JUNE 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
FIMATIX UK LTD (REGISTERED NUMBER: 10860988) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
1. | STATUTORY INFORMATION |
Fimatix UK Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Fimatix UK Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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 |
Plant and machinery etc | - |
Stocks |
Work in Progress is valued at the lower of cost and net realisable value. |
Cost includes all direct expenditure, an appropriate proportion of fixed and variable overhead, and an appropriate proportion of profit where profit is allocated across the whole project on a straight line. |
Financial instruments |
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. |
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. |
However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity |
concessionary loan. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. |
FIMATIX UK LTD (REGISTERED NUMBER: 10860988) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
Investments in subsidiaries and associates |
Investments in subsidiaries are measured at cost less accumulated impairment. |
Investments in unlisted Company shares, whose market value, can be reliably determined, are remeasured to market value at each balance sheet date.Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. |
Borrowing costs |
All borrowing costs are recognised in profit or loss in the year in which they are incurred. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
FIMATIX UK LTD (REGISTERED NUMBER: 10860988) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 July 2022 |
Additions |
Disposals | ( |
) |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST |
At 1 July 2022 | 2,375,593 |
Additions | 5,779,055 |
At 30 June 2023 | 8,154,648 |
NET BOOK VALUE |
At 30 June 2023 | 8,154,648 |
At 30 June 2022 | 2,375,593 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts owed by associates |
Other debtors |
FIMATIX UK LTD (REGISTERED NUMBER: 10860988) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Trade creditors |
Other creditors |
Included in other creditors is a balance of £549,935 for deferred consideration. Interest is charged at 4% per annum on the balance of deferred consideration that remains unpaid. |
Also included in other creditors is an amount of £1,100,000 for convertible loan stock. This loan attracts interest at 10% per annum and can be converted into equity in May 2027 at the rate of one A ordinary share for each £21.739 of nominal value of loan notes. |
9. | RELATED PARTY DISCLOSURES |
At the beginning of the year, there was an amount of £194,901 due to the company from Kalyxa Holdings Limited, a company that has a controlling interest in Fimatix UK Ltd and P James and S O'Sullivan are also directors of, and as at the end of the year there was an amount of £83,549 due to the company from Kalyxa Holdings Limited. |
At the beginning of the year, there was an amount of £63,627 due to the company from Kubernetes Limited, a company that is 95% owned by Fimatix UK Ltd and J Renwick is also a director of. At the end of the year there was an amount of £65,195 due to the company from Kubernetes Limited. |
During the year, there was an amount of £1,354 loaned to Roobi Limited, a company that S O'Sullivan is also a director of. At the end of the year, this balance remained outstanding. |
During the year, there was an amount of £2,424 loaned to Agilesphere Consulting UK Limited, a company that J Renwick is also a director of. At the end of the year, this balance remained outstanding. |
10. | ULTIMATE CONTROLLING PARTY |
The controlling party is Kalyxa Holdings Limited. |
The ultimate controlling party is |