Microbira Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC621160 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Microbira Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs M L Ismail

Mr I J Gray

Prof W S Nimmo

SECRETARY:

Mr M J G Holleran

REGISTERED OFFICE:

6 Logie Mill

Edinburgh

EH7 4HG

REGISTERED NUMBER:

SC621160 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

FIXED ASSETS

Intangible assets

4

211,204

196,596

Tangible assets

5

30,113

40,234

Investments

6

100

-

241,417

236,830

CURRENT ASSETS

Debtors

7

192,013

142,629

Cash at bank

114,897

188,690

306,910

331,319

CREDITORS

Amounts falling due within one year

8

62,176

79,345

NET CURRENT ASSETS

244,734

251,974

TOTAL ASSETS LESS CURRENT LIABILITIES

486,151

488,804

CAPITAL AND RESERVES

Called up share capital

10

4,546

4,223

Share premium

1,028,998

813,778

Retained earnings

(547,393

)

(329,197

)

SHAREHOLDERS' FUNDS

486,151

488,804

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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 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 13 October 2023 and were signed on its behalf by:

Mrs M L Ismail - Director

1.	STATUTORY INFORMATION

Microbira Limited is a private company, limited by shares , registered in Scotland. 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, 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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of five years.

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.

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.

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 2 (2022 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Patents and

Computer

licences

software

Totals

£

£

£

COST

At 1 April 2022

25,000

208,504

233,504

Additions

-

70,300

70,300

At 31 March 2023

25,000

278,804

303,804

AMORTISATION

At 1 April 2022

959

35,949

36,908

Amortisation for year

500

55,192

55,692

At 31 March 2023

1,459

91,141

92,600

NET BOOK VALUE

At 31 March 2023

23,541

187,663

211,204

At 31 March 2022

24,041

172,555

196,596

5.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 April 2022

61,246

1,971

63,217

Additions

3,087

66

3,153

At 31 March 2023

64,333

2,037

66,370

DEPRECIATION

At 1 April 2022

22,443

540

22,983

Charge for year

12,867

407

13,274

At 31 March 2023

35,310

947

36,257

NET BOOK VALUE

At 31 March 2023

29,023

1,090

30,113

At 31 March 2022

38,803

1,431

40,234

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

100

At 31 March 2023

100

NET BOOK VALUE

At 31 March 2023

100

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Microbira MAAP-IR Limited

Registered office: Westcombe House, Wildernesse Avenue, Sevenoaks, England, TN15 0EA

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

30.4.22

£

Aggregate capital and reserves

100

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Other debtors

192,013

142,629

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade creditors

2,436

7,320

Taxation and social security

-

2,807

Other creditors

59,740

69,218

62,176

79,345

9.	DEFERRED TAX

£

Balance at 1 April 2022

(86,633

)

Provided during year

(48,303

)

Balance at 31 March 2023

(134,936

)

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

454,680

Ordinary

1p

4,546

4,223

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31st March 2023 the company owed a director £57,239 (2022: £60,310).

12.	RELATED PARTY DISCLOSURES

There was no related party transactions in the year (2022: None).

13.	ULTIMATE CONTROLLING PARTY

There is no overall controlling interest.