Oktyx Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 11494328 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

OKTYX LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J M Manser

Mr R J Graham

REGISTERED OFFICE:

45 Queenswood Road

Sidcup

Kent

DA15 8QP

REGISTERED NUMBER:

11494328 (England and Wales)

ACCOUNTANTS:

Bayar Hughes & Co

Chartered Certified Accountants

4 Green Lane Business Park

238 Green lane

New Eltham

London

SE9 3TL

FIXED ASSETS

Intangible assets

4

11,245

11,245

Tangible assets

5

1,387

1,387

12,632

12,632

CURRENT ASSETS

Stocks

-

1,550

Debtors

6

71,972

71,972

Cash at bank

9,391

9,391

81,363

82,913

CREDITORS

Amounts falling due within one year

7

57,525

57,525

NET CURRENT ASSETS

23,838

25,388

TOTAL ASSETS LESS CURRENT LIABILITIES

36,470

38,020

CREDITORS

Amounts falling due after more than one year

8

33,832

33,832

NET ASSETS

2,638

4,188

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,538

4,088

SHAREHOLDERS' FUNDS

2,638

4,188

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 15 December 2023 and were signed on its behalf by:

Mr J M Manser - Director

1.	STATUTORY INFORMATION

Oktyx 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.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets

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

Plant & Equipment

-

25% 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

17,300

AMORTISATION

At 1 April 2022

and 31 March 2023

6,055

NET BOOK VALUE

At 31 March 2023

11,245

At 31 March 2022

11,245

5.	TANGIBLE FIXED ASSETS

Plant &

Equipment

£

COST

At 1 April 2022

and 31 March 2023

2,129

DEPRECIATION

At 1 April 2022

and 31 March 2023

742

NET BOOK VALUE

At 31 March 2023

1,387

At 31 March 2022

1,387

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

33,584

33,584

Other debtors

38,388

38,388

71,972

71,972

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank Loan and Overdrafts

10,648

10,648

Trade creditors

2,572

2,572

Taxation and social security

30,952

30,952

Other creditors

13,353

13,353

57,525

57,525

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

33,832

33,832