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

REGISTERED NUMBER: 06447301

Unaudited Financial Statements

for the Year Ended 30 September 2023

for

Hygienex Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S M Rice

Mrs L Rice

REGISTERED OFFICE:

Unit 4

Victoria Way

Pride Park

Derby

DE24 8AN

REGISTERED NUMBER:

06447301

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

518,138

433,928

518,138

433,928

CURRENT ASSETS

Stocks

123,850

102,000

Debtors

6

326,013

328,776

Cash at bank and in hand

164,700

215,955

614,563

646,731

CREDITORS

Amounts falling due within one year

7

496,395

507,596

NET CURRENT ASSETS

118,168

139,135

TOTAL ASSETS LESS CURRENT LIABILITIES

636,306

573,063

CREDITORS

Amounts falling due after more than one year

8

262,284

299,633

NET ASSETS

374,022

273,430

CAPITAL AND RESERVES

Called up share capital

699

699

Capital redemption reserve

301

301

Retained earnings

373,022

272,430

374,022

273,430

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 19 February 2024 and were signed on its behalf by:

S M Rice - Director

1.	STATUTORY INFORMATION

Hygienex Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Licences are being amortised evenly over their estimated useful life of ten years.

Software development costs is being amortised evenly over its estimated useful life of five years.

Software development costs

Software development costs have been capitalised and amortised once the products development has finished and made available to the market.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Equipment and tools

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Financial assets and liabilities

Short term debtors are measured at transaction price, less any impairment. Other financial assets, including loans to group companies are measured initially at fair value net of transaction costs and are subsequently measured at amortised cost using the effective interest method, less any impairment.

Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, are measured initially at fair value net of transaction costs and are subsequently measured at amortised cost using the effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 30 ) .

4.	INTANGIBLE FIXED ASSETS

Software

development

Licences

costs

Totals

£

£

£

COST

At 1 October 2022

and 30 September 2023

63,000

60,000

123,000

AMORTISATION

At 1 October 2022

and 30 September 2023

63,000

60,000

123,000

NET BOOK VALUE

At 30 September 2023

-

-

-

At 30 September 2022

-

-

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Equipment

and

Motor

Computer

and tools

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 October 2022

57,394

95,178

634,720

32,075

819,367

Additions

-

-

184,550

4,884

189,434

At 30 September 2023

57,394

95,178

819,270

36,959

1,008,801

DEPRECIATION

At 1 October 2022

29,977

30,414

303,157

21,891

385,439

Charge for year

5,483

12,944

83,540

3,257

105,224

At 30 September 2023

35,460

43,358

386,697

25,148

490,663

NET BOOK VALUE

At 30 September 2023

21,934

51,820

432,573

11,811

518,138

At 30 September 2022

27,417

64,764

331,563

10,184

433,928

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 October 2022

469,304

Additions

171,216

Transfer to ownership

(143,397

)

At 30 September 2023

497,123

DEPRECIATION

At 1 October 2022

190,475

Charge for year

57,562

Transfer to ownership

(92,185

)

At 30 September 2023

155,852

NET BOOK VALUE

At 30 September 2023

341,271

At 30 September 2022

278,829

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.23

30.9.22

£

£

Trade debtors

285,973

292,998

Amounts owed by participating interests

37,962

35,178

Other debtors

2,078

600

326,013

328,776

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.23

30.9.22

£

£

Bank loans and overdrafts

50,000

50,000

Hire purchase contracts

162,974

84,358

Trade creditors

138,736

178,667

Taxation and social security

96,131

165,850

Other creditors

48,554

28,721

496,395

507,596

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.23

30.9.22

£

£

Bank loans

79,167

129,167

Hire purchase contracts

183,117

170,466

262,284

299,633

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.23

30.9.22

£

£

Bank loans

129,167

179,167

Hire purchase contracts

346,091

254,824

475,258

433,991

The National Westminster Bank plc hold a debenture over the company's assets dated 22 October 2009.

10.	RELATED PARTY DISCLOSURES

The company operates a inter-company loan account with Blitz Hygiene Limited, which owns a property from which the company trades.

During the year, rent totalling £6,000 was charged. At 30 September 2023, the company was owed £37,962 (2022: £35,178) by Blitz Hygiene Limited.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Hygienex (Holdings) Limited.

The ultimate controlling parties are Mr S M & Mrs L M Rice.