2pax Limited - Accounts

	Registered number
	08942674

	2pax Limited
	Unaudited Accounts
	for the year ended
	31 March 2018

2pax Limited Balance Sheet as at 31 March 2018
	Notes		2018 £		2017 £
Fixed assets
Intangible assets	3		5,664		6,018
Tangible assets	4		13,176		11,108
			18,840		17,126

Current assets
Debtors	5	50,075		0
Cash at bank and in hand		0		39,022
		50,075		39,022

Creditors: amounts falling due within one year	6	(577,552)		(562,549)

Net current assets / (liabilities)			(527,477)		(523,527)

Total assets less current liabilities			(508,637)		(506,401)

Total net assets (liabilities)			(508,637)		(506,401)

Capital and reserves
Called up share capital	7		444		444
Share premium account			299,993		299,993
Profit and loss account			(809,074)		(806,838)
Shareholders' funds			(508,637)		(506,401)

These accounts have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The directors have not delivered a copy of the company's Profit and Loss account as permitted by s444(5A) of the Companies Act 2006.

For the year ending 31 March 2018 the company was entitled to exemption 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.

Signed on behalf of the board of directors

...............................

Mrs J Erentok Yau

Director

Approved by the board on 7 September 2018

Company Number: 08942674 (a Private Company Limited by Shares registered in England and Wales)

Registered Office:

26 James Street
St Christophers Place
London
W1U 1EN
England

1.	Accounting policies
	Basis of preparation of financial statements These financial statements have been prepared under the historic cost convention in accordance with the accounting policies set out below and with section 1A of FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The presentation currency is sterling.

	Going concern basis
	The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.

	Revenue recognition
	Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Tangible fixed assets depreciation policy

Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. Depreciation is provided, after taking account of any grants receivable, at rates calculated to write off the cost of fixed assets, less the estimated residual value, over their estimated useful lives.

Equipment	20% Straight Line
Office equipment	20% Straight Line

	Research and development
	Expenditure on research is written off in the year in which it is incurred. Where appropriate, development expenditure is capitalised and amortised over its useful economic life.

Employees
	2018	2017
Average number of employees during the period	3	2

Intangible fixed assets
	Other	Total
Cost	£	£
At 1 April 2017	7,080	7,080
At 31 March 2018	7,080	7,080
Amortisation
At 1 April 2017	1,062	1,062
Provided during the period	354	354
At 31 March 2018	1,416	1,416
Net book value
At 31 March 2018	5,664	5,664
At 31 March 2017	6,018	6,018

Tangible fixed assets
	Equipment	Office equipment	Total
Cost or valuation	£	£	£
At 1 April 2017	11,867	470	12,337
Additions	5,936	0	5,936
At 31 March 2018	17,803	470	18,273
Depreciation
At 1 April 2017	1,160	69	1,229
Charge for the period	3,751	117	3,868
At 31 March 2018	4,911	186	5,097
Net book value
At 31 March 2018	12,892	284	13,176
At 31 March 2017	10,707	401	11,108

Debtors
	2018	2017
	£	£
Trade debtors	50,075	0
	50,075	0

Creditors: amounts falling due within one year
	2018	2017
	£	£
Bank Loans & Overdrafts	67	0
Trade creditors	12,154	49,803
Other creditors	565,331	512,746
	577,552	562,549
Contained in other creditors was £385,091 in relation to payments owed to the directors.

Share capital
	2018	2017
	£	£
Allotted, called up and fully paid:
44,445 (2017: 44,445) Ordinary shares of £0.01 each	444.45	444.45

	444	444

8.	Related party disclosures
	Controlling party The controlling parties are Mrs J Erentok Yau, MR A Ashkenazi and Mr. M Kisubika

9.	Transactions with directors
	There was a balance outstanding at the end of the period for £385,091 relating to Mrs J Erentok Yau, MR A Ashkenazi and Mr. M Kisubika