Pastel Bioscience Limited - Accounts to registrar (filleted) - small 18.2

Pastel Bioscience Limited - Accounts to registrar (filleted) - small 18.2

PASTEL BIOSCIENCE LIMITED - Company Information

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REGISTERED NUMBER: 04543741 (England and Wales)











FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2021

FOR

PASTEL BIOSCIENCE LIMITED
PASTEL BIOSCIENCE LIMITED (REGISTERED NUMBER: 04543741)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PASTEL BIOSCIENCE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2021







DIRECTOR: Dr S J Osborne





REGISTERED OFFICE: Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ





REGISTERED NUMBER: 04543741 (England and Wales)





ACCOUNTANTS: Parkers
Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ
Page 1
PASTEL BIOSCIENCE LIMITED (REGISTERED NUMBER: 04543741)

BALANCE SHEET
30TH SEPTEMBER 2021

2021 2020
Notes £    £   
CURRENT ASSETS
Debtors 5 42 117
Cash at bank 5,016 800
5,058 917
CREDITORS
Amounts falling due within one year 6 420 24,072
NET CURRENT ASSETS/(LIABILITIES) 4,638 (23,155 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
4,638
(23,155
)

CAPITAL AND RESERVES
Called up share capital 114 114
Share premium 52,861 52,861
Retained earnings (48,337 ) (76,130 )
SHAREHOLDERS' FUNDS 4,638 (23,155 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11th April 2022 and were signed by:





Dr S J Osborne - Director


The notes form part of these financial statements

Page 2
PASTEL BIOSCIENCE LIMITED (REGISTERED NUMBER: 04543741)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2021

1. STATUTORY INFORMATION

Pastel Bioscience Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis due to continued financial support from the director.

Significant judgements and estimates
No significant judgements have had to be made by the directors in preparing these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

Page 3 continued...
PASTEL BIOSCIENCE LIMITED (REGISTERED NUMBER: 04543741)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2021

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st October 2020
and 30th September 2021 966
DEPRECIATION
At 1st October 2020
and 30th September 2021 966
NET BOOK VALUE
At 30th September 2021 -
At 30th September 2020 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Other debtors 42 117

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors - 172
Other creditors 420 23,900
420 24,072

Page 4