Hygienex Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: 06447301 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2016

for

Hygienex Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S M Rice

K J Reed

REGISTERED OFFICE:

Unit 4

Victoria Way

Pride Park

Derby

DE24 8AN

REGISTERED NUMBER:

06447301 (England and Wales)

ACCOUNTANTS:

Bourne & Co.

Chartered Accountants

3 Charnwood Street

Derby

Derbyshire

DE1 2GY

FIXED ASSETS

Intangible assets

4

12,600

18,900

Tangible assets

5

106,507

106,725

119,107

125,625

CURRENT ASSETS

Stocks

72,000

57,000

Debtors

213,801

213,896

Cash at bank and in hand

24,820

40,899

310,621

311,795

CREDITORS

Amounts falling due within one year

158,823

230,411

NET CURRENT ASSETS

151,798

81,384

TOTAL ASSETS LESS CURRENT LIABILITIES

270,905

207,009

CREDITORS

Amounts falling due after more than one year

6

(21,710

)

(22,682

)

PROVISIONS FOR LIABILITIES

(15,810

)

(15,486

)

NET ASSETS

233,385

168,841

CAPITAL AND RESERVES

Called up share capital

699

739

Capital redemption reserve

301

261

Retained earnings

232,385

167,841

SHAREHOLDERS' FUNDS

233,385

168,841

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 22 June 2017 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 England and Wales. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2016

and 31 December 2016

63,000

AMORTISATION

At 1 January 2016

44,100

Amortisation for year

6,300

At 31 December 2016

50,400

NET BOOK VALUE

At 31 December 2016

12,600

At 31 December 2015

18,900

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2016

187,168

Additions

31,763

Disposals

(22,764

)

At 31 December 2016

196,167

DEPRECIATION

At 1 January 2016

80,443

Charge for year

27,145

Eliminated on disposal

(17,928

)

At 31 December 2016

89,660

NET BOOK VALUE

At 31 December 2016

106,507

At 31 December 2015

106,725

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

Motor

vehicles

£

COST

At 1 January 2016

135,108

Additions

26,382

Disposals

(13,367

)

Transfer to ownership

(61,503

)

At 31 December 2016

86,620

DEPRECIATION

At 1 January 2016

59,051

Charge for year

20,600

Eliminated on disposal

(10,388

)

Transfer to ownership

(38,079

)

At 31 December 2016

31,184

NET BOOK VALUE

At 31 December 2016

55,436

At 31 December 2015

76,057

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Hire purchase contracts

21,710

22,682

7.	SECURED DEBTS

The following secured debts are included within creditors:

2016

2015

£

£

Hire purchase contracts

48,679

58,725

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

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2016 and

31 December 2015:

2016

2015

£

£

S M Rice

Balance outstanding at start of year

2,442

20,247

Amounts advanced

94

15,670

Amounts repaid

(2,536

)

(33,475

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

2,442

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £14,634 were paid to the directors .

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 31 December 2016, the company owed Blitz Hygiene

Limited £7,825.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is S M Rice.