Sarissa Biomedical Limited - Accounts to registrar (filleted) - small 18.1
Sarissa Biomedical Limited - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2017 |
| for |
| Sarissa Biomedical Limited |
| Sarissa Biomedical Limited (Registered number: 04581254) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Sarissa Biomedical Limited |
| Company Information |
| for the Year Ended 31 December 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 14 Harvey Road |
| Bedford |
| Bedfordshire |
| MK41 9LF |
| Sarissa Biomedical Limited (Registered number: 04581254) |
| Balance Sheet |
| 31 December 2017 |
| 31.12.17 | 31.12.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Share premium | 9 |
| Retained earnings | 9 | ( |
) | ( |
) |
| 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) |
| Balance Sheet - continued |
| 31 December 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on were signed on its behalf by: |
| Sarissa Biomedical Limited (Registered number: 04581254) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2017 |
| 1. | STATUTORY INFORMATION |
| Sarissa Biomedical Limited is a |
| 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 |
| The current economic environment and outlook continues to present significant challenges |
| to the company. After making appropriate enquiries, 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 which may cast |
| significant doubt regarding 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. |
| 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 |
| Improvements to leasehold property | - |
| Plant and machinery | - |
| Computer equipment | - |
| Improvements to leasehold property are depreciated over the two year lease period as this is |
| shorter than the life of the asset. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance |
| for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income |
| Statement, 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. |
| Sarissa Biomedical Limited (Registered number: 04581254) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 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. |
| 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 profit or loss 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Sarissa Biomedical Limited (Registered number: 04581254) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| to |
| leasehold | Plant and | Computer |
| property | machinery | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 January 2017 |
| Additions |
| At 31 December 2017 |
| DEPRECIATION |
| At 1 January 2017 |
| Charge for year |
| At 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
| 5. | DEBTORS |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| VAT |
| Prepayments |
| Amounts falling due after more than one year: |
| Deferred tax asset |
| Corporation tax losses | 70,000 | 70,000 |
| Aggregate amounts |
| The deferred tax asset, arising from corporation tax losses, has been included in the |
| financial statements. The directors are of the opinion that profits will arise in the future |
| against which this asset can be recovered, however they have decided to restrict the |
| deferred tax asset within the accounts to £70,000. |
| Sarissa Biomedical Limited (Registered number: 04581254) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| Accrued expenses |
| Deferred grant income |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Within one year |
| Between one and five years |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.17 | 31.12.16 |
| value: | £ | £ |
| Ordinary | 1p | 1,000 | 1,000 |
| A ordinary | 1p | 4,761 | 3,524 |
| 5,761 | 4,524 |
| share during the year. |
| 9. | RESERVES |
| Retained | Share |
| earnings | premium | Totals |
| £ | £ | £ |
| At 1 January 2017 | ( |
) | 253,619 |
| Deficit for the year | ( |
) | ( |
) |
| Cash share issue | - | 655,809 |
| At 31 December 2017 | ( |
) | 421,407 |
| 10. | POST BALANCE SHEET EVENTS |