Sarissa Biomedical Limited - Limited company - abbreviated - 11.6
Sarissa Biomedical Limited - Limited company - abbreviated - 11.6
REGISTERED NUMBER: |
ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2014 |
FOR |
SARISSA BIOMEDICAL LIMITED |
SARISSA BIOMEDICAL LIMITED (REGISTERED NUMBER: 04581254) |
CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2014 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 4 |
SARISSA BIOMEDICAL LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2014 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
SARISSA BIOMEDICAL LIMITED (REGISTERED NUMBER: 04581254) |
ABBREVIATED BALANCE SHEET |
31 DECEMBER 2014 |
31.12.14 | 31.12.13 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
CURRENT ASSETS |
Stocks |
Debtors | 3 |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 4 |
Share premium |
Profit and loss account | ( |
) | ( |
) |
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. |
SARISSA BIOMEDICAL LIMITED (REGISTERED NUMBER: 04581254) |
ABBREVIATED BALANCE SHEET - continued |
31 DECEMBER 2014 |
The financial statements were approved by the Board of Directors on by: |
SARISSA BIOMEDICAL LIMITED (REGISTERED NUMBER: 04581254) |
NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2014 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The current economic environment and outlook continues to present significant challenges to the company. After |
making appropriate enquires, the directors believe that it is the intention of independent investors to continue |
supporting the company for the foreseeable future. They therefore conclude that there are no material |
uncertainties that may cast significant doubt about the company's ability to continue as a going concern. |
Accordingly, the company continues to adopt the going concern basis in preparing the annual report and |
accounts. |
Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective April 2008). |
Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
Tangible fixed assets |
Plant and machinery | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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 the profit and loss account in the period to which they relate. |
Other income |
Grants are recognised in the financial statements in the year in which they are receivable. |
Revenue grants in respect of eligible costs associated to a specific project, are recognised and matched against |
expenditure when it is incurred. |
SARISSA BIOMEDICAL LIMITED (REGISTERED NUMBER: 04581254) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2014 |
2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 January 2014 |
and 31 December 2014 |
DEPRECIATION |
At 1 January 2014 |
Charge for year |
At 31 December 2014 |
NET BOOK VALUE |
At 31 December 2014 |
At 31 December 2013 |
3. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
The aggregate total of debtors falling due after more than one year is £ |
4. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.14 | 31.12.13 |
value: | £ | £ |
Ordinary | 1p |
Preferred Ordinary | 1p |
A ordinary | 1p |
3,012 | 2,445 |
On 18th August 2014 164,480 Preferred Ordinary shares of 1p each were converted into A Ordinary shares of 1p |
each. |
The A Ordinary Shares of 1p each rank pari passu in all respects with the existing Ordinary Shares of 1p each |
save as specified in the Articles of Association with regard to a return of capital on the sale of the company. |