MUCOKINETICA LIMITED
|
Registered number: |
05284717
|
Balance Sheet |
as at 31 March 2017
|
|
Notes |
|
2017 |
|
|
2016 |
|
|
|
£ |
£ |
|
£ |
£ |
Fixed assets |
Intangible assets |
2 |
|
|
19,400 |
|
|
12,341 |
|
Current assets |
Debtors |
3 |
|
4,039 |
|
|
1,162 |
Cash at bank and in hand |
|
|
3,330 |
|
|
1,124 |
|
|
|
7,369 |
|
|
2,286 |
|
Creditors: amounts falling due within one year |
4 |
|
(38,271) |
|
|
(31,882) |
|
Net current liabilities |
|
|
|
(30,902) |
|
|
(29,596) |
|
Total assets less current liabilities |
|
|
|
(11,502) |
|
|
(17,255) |
|
Creditors: amounts falling due after more than one year |
5 |
|
|
(60,000) |
|
|
(30,000) |
|
|
|
Net liabilities |
|
|
|
(71,502) |
|
|
(47,255) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2,080 |
|
|
2,080 |
Share premium |
|
|
|
39,920 |
|
|
39,920 |
Profit and loss account |
|
|
|
(113,502) |
|
|
(89,255) |
|
Shareholders' funds |
|
|
|
(71,502) |
|
|
(47,255) |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
|
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
|
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
|
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
|
|
|
|
|
Dr R L Hall |
Director |
Approved by the board on 21 December 2017
|
|
MUCOKINETICA LIMITED
|
Notes to the Accounts |
for the year ended 31 March 2017
|
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
|
|
|
Going concern |
|
Although at 31 March 2017 current liabilities exceeded current assets by £30,902, the accounts have been prepared on a going concern basis which assumes that the company will continue to receive the financial support of its creditors and be able to obtain sufficient funds in the future in order to meet its liabilities as they fall due. |
|
|
Turnover |
|
Turnover represents grants and donations receivable, exclusive of VAT.
|
|
|
Intangible fixed assets |
|
Amortisation has been provided at the following rates in order to write off the assets over their estimated useful lives.
|
|
|
Patents & Know How |
20% straight line |
|
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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.
|
|
|
2 |
Intangible fixed assets |
£ |
|
Patents: |
|
|
Cost |
|
At 1 April 2016 |
39,196 |
|
Additions |
12,314 |
|
At 31 March 2017 |
51,510 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 April 2016 |
26,855 |
|
Provided during the year |
5,255 |
|
At 31 March 2017 |
32,110 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2017 |
19,400 |
|
At 31 March 2016 |
12,341 |
|
|
|
|
|
|
|
|
|
|
3 |
Debtors |
2017 |
|
2016 |
|
|
|
|
|
|
£ |
|
£ |
|
|
Other debtors |
4,039 |
|
1,162 |
|
|
|
|
|
|
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
|
|
|
|
|
|
£ |
|
£ |
|
|
Trade creditors |
5,890 |
|
1,501 |
|
Directors' loans |
|
|
|
|
32,251 |
|
30,251 |
|
Other creditors |
130 |
|
130 |
|
|
|
|
|
|
38,271 |
|
31,882 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due after one year |
2017 |
|
2016 |
|
|
|
|
|
|
£ |
|
£ |
|
|
Directors' loans |
|
|
|
|
60,000 |
|
30,000 |
|
|
|
|
|
|
|
|
|
|
6 |
Controlling party |
|
|
The company is under the control of the directors.
|
|
|
7 |
Other information |
|
|
MUCOKINETICA LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
53 Cavendish Road |
|
London |
|
SW12 0BL |