Microbira Limited - Accounts to registrar (filleted) - small 18.2
Microbira Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2021 |
| for |
| Microbira Limited |
| Microbira Limited (Registered number: SC621160) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Microbira Limited |
| Company Information |
| for the Year Ended 31 March 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 6 Logie Mill |
| Edinburgh |
| Lothian |
| EH7 4HG |
| Microbira Limited (Registered number: SC621160) |
| Balance Sheet |
| 31 March 2021 |
| 31.3.21 | 31.3.20 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Share premium |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| The directors acknowledge their 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. |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Microbira Limited (Registered number: SC621160) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2021 |
| 1. | STATUTORY INFORMATION |
| Microbira Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis, the acceptability of which is dependent on the continued support of the directors/creditors/etc. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Intangible assets |
| Intangible assets (excluding goodwill) are being amortised on a straight line basis over their estimated useful economic life. Intangible assets (excluding goodwill) are held at cost and are not revalued. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows: |
| Plant and Machinery- 20% on cost |
| Computer Equipment - 20% on cost |
| Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life. |
| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
| Financial instruments |
| The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Microbira Limited (Registered number: SC621160) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Provisions |
| Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation. |
| The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation. |
| Exemption from preparing a cash flow statement |
| Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Patents |
| and | Computer |
| licences | software | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2020 |
| Additions |
| At 31 March 2021 |
| AMORTISATION |
| At 1 April 2020 |
| Amortisation for year |
| At 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 31 March 2020 |
| Microbira Limited (Registered number: SC621160) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and | Computer |
| machinery | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2020 |
| Additions |
| At 31 March 2021 |
| DEPRECIATION |
| At 1 April 2020 |
| Charge for year |
| At 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 31 March 2020 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.21 | 31.3.20 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.21 | 31.3.20 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | DEFERRED TAX |
| £ |
| Balance at 1 April 2020 | ( |
) |
| Provided during year | ( |
) |
| Balance at 31 March 2021 | ( |
) |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.3.21 | 31.3.20 |
| value: | £ | £ |
| Ordinary | 1p | 3,773 | 3,000 |
| 77,250 Ordinary shares of 1p each were allotted and fully paid for |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| As at 31st March 2021 the company owed a director £60,318 (2020: company owed the director £61,788 and a director owed the company £1,470). |
| Microbira Limited (Registered number: SC621160) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 11. | RELATED PARTY DISCLOSURES |
| Transactions with related parties during the year and balances outstanding at the year end were as follows: |
Related Party |
Type of Transaction |
Amount |
Balance receivable from or (payable to) related party as at 31.3.2021 |
Balance receivable from or (payable to) related party as at 31.3.2020 |
| Spectrotypica Inc | Purchases | £37,000 | £37,000 | - |
| The director of Spectrotypica Inc is a family member of a director of Microbira Limited. |
| 12. | ULTIMATE CONTROLLING PARTY |
| There is no overall controlling interest. |