CLYDE_BIOSCIENCES_LIMITED - Accounts

CLYDE BIOSCIENCES LIMITED - Company Information

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Company Registration No. SC418838 (Scotland)

CLYDE BIOSCIENCES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2015

CLYDE BIOSCIENCES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

CLYDE BIOSCIENCES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

33,549

3,696

Current assets

Debtors

105,702

18,194

Cash at bank and in hand

812,566

107,519

918,268

125,713

Creditors: amounts falling due within one year

(72,214)

(70,412)

Net current assets

846,054

55,301

Total assets less current liabilities

879,603

58,997

Provisions for liabilities

(739)

879,603

58,258

Capital and reserves

Called up share capital

Share premium account

992,941

Profit and loss account

(113,383)

58,236

Shareholders' funds

879,603

58,258

For the financial year ended 31 July 2015 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 year 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.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 11 May 2016

Mr C Wardhaugh

Dr M Craig

Director

Company Registration No. SC418838

CLYDE BIOSCIENCES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

20% straight line

Computer equipment

33% straight line

1.4

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.5

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Fixed assets

Tangible assets

Cost

At 1 August 2014

4,403

Additions

32,669

Disposals

(637)

At 31 July 2015

36,435

Depreciation

At 1 August 2014

707

Charge for the year

2,179

At 31 July 2015

2,886

Net book value

At 31 July 2015

33,549

At 31 July 2014

3,696

CLYDE BIOSCIENCES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

450,000 Ordinary shares of 0.01p each

During the year 2,186 £0.01 shares were subdivided into 218,600 £0.0001 shares.

The following shares were issued during the year:

- 212,576 ordinary shares for a consideration of £4.7042

- 19,486 ordinary shares for a consideration of £2.5659