Renephra Limited - Period Ending 2019-03-31
Renephra Limited - Period Ending 2019-03-31
Registration number:
Renephra Limited
for the Period from 1 March 2018 to 31 March 2019
Renephra Limited
Contents
Company Information |
|
Abridged Balance Sheet |
|
Notes to the Abridged Financial Statements |
Renephra Limited
Company Information
Directors |
Dr Idalia Lucja Dawidowska Mr Savvas Ioannou Neophytou Mr Sandip Mitra Dr Ian Smith |
Registered office |
|
Page 1 |
Renephra Limited
(Registration number: 06815501)
Abridged Balance Sheet as at 31 March 2019
Note |
2019 |
2018 |
|
Fixed assets |
|||
Intangible assets |
|
|
|
Tangible assets |
|
|
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Prepayments and accrued income |
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Accruals and deferred income |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Share premium reserve |
|
|
|
Profit and loss account |
( |
( |
|
Total equity |
|
|
For the financial period ending 31 March 2019 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been 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.
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Page 2 |
Renephra Limited
(Registration number: 06815501)
Abridged Balance Sheet as at 31 March 2019
Approved and authorised by the
.........................................
Dr Idalia Lucja Dawidowska
Director
Page 3 |
Renephra Limited
Notes to the Abridged Financial Statements for the Period from 1 March 2018 to 31 March 2019
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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 abridged 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 abridged 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.
Reclassification of comparative amounts
These costs by year: 2014 - £104,426, 2015 - £258,931, 2016 - £189,698, 2017 - £205,672 and 2018 - £167,608.
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.
Page 4 |
Renephra Limited
Notes to the Abridged Financial Statements for the Period from 1 March 2018 to 31 March 2019
Other grants
The grants are recognised under the performance model, where a grant does not impose specified future performance-related conditions on the recipient is recognised in income when the grant proceeds are received or receivable.
Grants have been recognised in the entity's financial statements at the fair value of the asset received or receivable.
Tax
The tax expense for the period comprises current 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.
Tangible assets
Tangible assets are stated in the statement of financial position 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 |
Computer equipment |
33.3% Reducing balance |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Page 5 |
Renephra Limited
Notes to the Abridged Financial Statements for the Period from 1 March 2018 to 31 March 2019
Development costs
Intangible assets arising from development (or from the development phase of
an internal project) have been recognised if, and only if, an entity can demonstrate all of the following:
a) The technical feasibility of completing the intangible asset so that it will be available for use or sale.
b) Its intention to complete the intangible asset and use or sell it.
c) Its ability to use or sell the intangible asset.
d) How the intangible asset will generate probable future economic benefits. Among other things, the
entity can demonstrate the existence of a market for the output of the intangible asset or the
intangible asset itself or, if it is to be used internally, the usefulness of the intangible asset.
e) The availability of adequate technical, financial and other resources to complete the development and
to use or sell the intangible asset.
f) Its ability to measure reliably the expenditure attributable to the intangible asset during its
development.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
At cost, with impairment reviewed |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Page 6 |
Renephra Limited
Notes to the Abridged Financial Statements for the Period from 1 March 2018 to 31 March 2019
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Page 7 |
Renephra Limited
Notes to the Abridged Financial Statements for the Period from 1 March 2018 to 31 March 2019
Intangible assets |
Total |
|
Cost or valuation |
|
At 1 March 2018 |
|
Additions acquired separately |
|
At 31 March 2019 |
|
Amortisation |
|
Carrying amount |
|
At 31 March 2019 |
|
At 28 February 2018 |
|
Tangible assets |
Total |
|
Cost or valuation |
|
At 1 March 2018 |
|
Additions |
|
At 31 March 2019 |
|
Depreciation |
|
At 1 March 2018 |
|
Charge for the period |
|
At 31 March 2019 |
|
Carrying amount |
|
At 31 March 2019 |
|
At 28 February 2018 |
|
Share capital |
Allotted, called up and fully paid shares
Page 8 |
Renephra Limited
Notes to the Abridged Financial Statements for the Period from 1 March 2018 to 31 March 2019
2019 |
2018 |
|||
No. |
£ |
No. |
£ |
|
Ordinary of £0.01 each |
11,577 |
115.77 |
11,577 |
115.77 |
Ordinary A of £0.01 each |
375,051 |
3,750.51 |
304,041 |
3,040.41 |
Ordinary B of £0.01 each |
99,070 |
990.70 |
99,070 |
990.70 |
|
|
|
|
Page 9 |