Company Registration No. 8771685 (England and Wales)
PCNX Limited
Unaudited accounts
for the year ended 31 March 2023
PCNX Limited
Unaudited accounts
Contents
PCNX Limited
Company Information
for the year ended 31 March 2023
Directors
Charles Richard Bodycote
John Mark Cooper
Shek Yau John Lau
Mark Wilson Parker
David Manston
Company Number
8771685 (England and Wales)
Registered Office
23a Dawkins Road
Poole
Dorset
BH15 4JY
England
Accountants
JSVM Limited
Certified Public Accountants
23a Dawkins Road
Poole
Dorset
BH15 4JY
PCNX Limited
Statement of financial position
as at 31 March 2023
Investments
941,014
941,014
Cash at bank and in hand
22,312
23,844
Creditors: amounts falling due within one year
(2,333)
(1,869)
Net current assets
23,303
24,995
Net assets
964,317
966,009
Called up share capital
686
686
Share premium
1,483,769
1,483,769
Profit and loss account
(520,138)
(518,446)
Shareholders' funds
964,317
966,009
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 December 2023 and were signed on its behalf by
Charles Richard Bodycote
Director
Company Registration No. 8771685
PCNX Limited
Notes to the Accounts
for the year ended 31 March 2023
PCNX Limited is a private company, limited by shares, registered in England and Wales, registration number 8771685. The registered office is 23a Dawkins Road, Poole, Dorset, BH15 4JY, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Intangible fixed assets are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Amortisation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Trade Marks 5 years Straight Line
Domain Names 5 years Straight Line
Research and product development
Expenditure on research and development is capitalised as product development costs in the year in which it is incurred to the extent that it can be demonstrated that:
- it is technically feasible to develop the product to be sold;
- adequate resources are available to complete the development;
- there is an intention to complete and sell the product;
- the company is able to sell the product;
- sale of the product will generate future economic benefits; and
- expenditure on the project can be measured reliably.
Capitalised development costs are amortised from the date of successful product trials over the periods in which the company expects to benefit from selling the products developed.
The useful life and the value of the capitalised development cost are assessed for impairment annually.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Investments comprise investments in unquoted equity instruments which are measured at fair value when it is possible to measure their fair value reliably.
When it is not possible to measure their fair value reliably, these investments are instead be measured at net cost less impairment.
Any changes in fair value are recognised in the income statement.
PCNX Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Intangible fixed assets
Other
5
Investments
Other investments
Valuation at 1 April 2022
941,014
Valuation at 31 March 2023
941,014
These investments have been measured at cost less impairment.
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
1,588
1,134
Allotted, called up and fully paid:
686,069 Ordinary shares of £0.001 each
686.06
686.06
9
Average number of employees
During the year the average number of employees was 5 (2022: 5).
