Registration number:
Cathexis Europe Limited
for the Year Ended 30 June 2022
Cathexis Europe Limited
Contents
Company Information |
|
Accountants' Report |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Cathexis Europe Limited
Company Information
Directors |
GMO Shepperson MC Randelhoff M H K Ross R Brecher |
Registered office |
|
Bankers |
|
Accountants |
|
Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Cathexis Europe Limited
for the Year Ended 30 June 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Cathexis Europe Limited for the year ended 30 June 2022 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/
member/professional-standards/rules-standards/acca-rulebook.html.
This report is made solely to the Board of Directors of Cathexis Europe Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Cathexis Europe Limited and state those matters that we have agreed to state to the Board of Directors of Cathexis Europe Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cathexis Europe Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Cathexis Europe Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Cathexis Europe Limited. You consider that Cathexis Europe Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Cathexis Europe Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
..........................................................
Millennium Way
Pride Park
Derby
DE24 8HG
Cathexis Europe Limited
(Registration number: 06421746)
Balance Sheet as at 30 June 2022
Note |
2022 |
2021 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
|
|
|
Total equity |
|
|
Cathexis Europe Limited
(Registration number: 06421746)
Balance Sheet as at 30 June 2022
For the financial year ending 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Cathexis Europe Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022
General information |
The company is a private company limited by share capital, incorporated in England.
The address of the registered office is given in the company information on page 1 of the financial statements.
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - ' The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Sterling (£).
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Cathexis Europe Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures, fittings and equipment |
15% reducing balance |
Motor vehicles |
25% reducing balance |
Short leasehold improvements |
5 years straight line |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Cathexis Europe Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022
Tangible assets |
Short leasehold improvements |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
Cost or valuation |
||||
At 1 July 2021 |
|
|
|
|
Additions |
- |
|
- |
|
Disposals |
- |
( |
- |
( |
At 30 June 2022 |
|
|
|
|
Depreciation |
||||
At 1 July 2021 |
|
|
|
|
Charge for the year |
|
|
|
|
Eliminated on disposal |
- |
( |
- |
( |
At 30 June 2022 |
|
|
|
|
Carrying amount |
||||
At 30 June 2022 |
|
|
|
|
At 30 June 2021 |
|
|
|
|
Included within the net book value of land and buildings above is £1,765 (2021 - £3,528) in respect of short leasehold land and buildings.
Stocks |
2022 |
2021 |
|
Other inventories |
|
|
Debtors |
2022 |
2021 |
|
Trade debtors |
|
|
Other debtors |
|
|
|
|
Cathexis Europe Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022
Creditors |
Note |
2022 |
2021 |
|
Due within one year |
|||
Trade creditors |
|
|
|
Taxation and social security |
|
|
|
Corporation tax |
147,497 |
231,586 |
|
Other creditors |
|
|
|
|
|
Share capital |
Allotted, called up and fully paid shares
2022 |
2021 |
|||
No. |
£ |
No. |
£ |
|
|
|
1,000 |
|
1,000 |
|
|
250 |
|
250 |
|
|
250 |
|
250 |
|
|
78 |
|
78 |
|
|
239 |
|
239 |
Ordinary E shares of £1 each |
183 |
183 |
183 |
183 |
|
|
|
|
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
Non adjusting events after the financial period |
|