CamPhos Therapeutics Limited Filleted accounts for Companies House (small and micro)

CamPhos Therapeutics Limited Filleted accounts for Companies House (small and micro)

CAMPHOS THERAPEUTICS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10645579
CamPhos Therapeutics Limited
Filleted Unaudited Financial Statements
31 January 2020
CamPhos Therapeutics Limited
Financial Statements
Period from 1 April 2019 to 31 January 2020
Contents
Page
Statement of financial position
1
Statement of changes in equity
3
Notes to the financial statements
4
CamPhos Therapeutics Limited
Statement of Financial Position
31 January 2020
31 Jan 20
31 Mar 19
Note
£
£
Fixed assets
Tangible assets
5
2,199
4,512
Current assets
Debtors
6
60,699
53,147
Cash at bank and in hand
273,421
185,323
---------
---------
334,120
238,470
Creditors: amounts falling due within one year
7
49,946
880,737
---------
---------
Net current assets/(liabilities)
284,174
( 642,267)
---------
---------
Total assets less current liabilities
286,373
( 637,755)
---------
---------
Net assets/(liabilities)
286,373
( 637,755)
---------
---------
Capital and reserves
Called up share capital
3
2
Share premium account
3,419,829
1,749,998
Profit and loss account
( 3,133,459)
( 2,387,755)
------------
------------
Shareholders funds/(deficit)
286,373
( 637,755)
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 January 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
CamPhos Therapeutics Limited
Statement of Financial Position (continued)
31 January 2020
These financial statements were approved by the board of directors and authorised for issue on 25 March 2020 , and are signed on behalf of the board by:
Dr A Bertolotti
Director
Company registration number: 10645579
CamPhos Therapeutics Limited
Statement of Changes in Equity
Period from 1 April 2019 to 31 January 2020
Called up share capital
Share premium account
Profit and loss account
Total
£
£
£
£
At 1 April 2018
1
749,999
( 469,303)
280,697
Loss for the period
( 1,918,452)
( 1,918,452)
----
---------
------------
------------
Total comprehensive income for the period
–
–
( 1,918,452)
( 1,918,452)
Issue of shares
1
999,999
–
1,000,000
----
---------
------------
------------
Total investments by and distributions to owners
1
999,999
–
1,000,000
At 31 March 2019
2
1,749,998
( 2,387,755)
( 637,755)
Loss for the period
( 745,704)
( 745,704)
----
------------
------------
------------
Total comprehensive income for the period
–
–
( 745,704)
( 745,704)
Issue of shares
1
1,669,831
–
1,669,832
----
------------
----
------------
Total investments by and distributions to owners
1
1,669,831
–
1,669,832
----
------------
------------
------------
At 31 January 2020
3
3,419,829
( 3,133,459)
286,373
----
------------
------------
------------
CamPhos Therapeutics Limited
Notes to the Financial Statements
Period from 1 April 2019 to 31 January 2020
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Building 280, Moneta, Babraham Research Campus, Cambridge, CB22 3AT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation is calculated as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Equipment - 33% straight line
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 3 (2019: 4 ).
5. Tangible assets
Equipment
£
Cost
At 1 April 2019 and 31 January 2020
7,007
-------
Depreciation
At 1 April 2019
2,495
Charge for the period
2,313
-------
At 31 January 2020
4,808
-------
Carrying amount
At 31 January 2020
2,199
-------
At 31 March 2019
4,512
-------
6. Debtors
31 Jan 20
31 Mar 19
£
£
Other debtors
60,699
53,147
--------
--------
7. Creditors: amounts falling due within one year
31 Jan 20
31 Mar 19
£
£
Trade creditors
38,753
88,237
Social security and other taxes
10,892
11,570
Other creditors
301
780,930
--------
---------
49,946
880,737
--------
---------