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REGISTERED NUMBER: OC323974 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2017

for

Plasgen LLP

Plasgen LLP (Registered number: OC323974)






Contents of the Financial Statements
for the Year Ended 31 December 2017




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Plasgen LLP

General Information
for the Year Ended 31 December 2017







DESIGNATED MEMBERS: Cellgest Limited
Fundpharma Limited





REGISTERED OFFICE: 4th Floor,
Clerks' Well House
20 Britton Street
London
EC1M 5UA





REGISTERED NUMBER: OC323974 (England and Wales)

Plasgen LLP (Registered number: OC323974)

Statement of Financial Position
31 December 2017

31.12.17 31.12.16
Notes €    €    €    €   
FIXED ASSETS
Intangible assets 4 5,660,250 6,075,000

CURRENT ASSETS
Inventories 631,675 112,975
Debtors 5 2,471 -
Cash at bank 655 265
634,801 113,240
CREDITORS
Amounts falling due within one year 6 702,006 161,369
NET CURRENT LIABILITIES (67,205 ) (48,129 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

5,593,045

6,026,871

LOANS AND OTHER DEBTS DUE
TO MEMBERS

7

5,593,045

6,026,871

TOTAL MEMBERS' INTERESTS
Loans and other debts due to
members

7

5,593,045

6,026,871

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 December 2017.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of
the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts
and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP
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 as applied to LLPs by the Limited Liability
Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008
relating to financial statements, so far as applicable to the LLP.

Plasgen LLP (Registered number: OC323974)

Statement of Financial Position - continued
31 December 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP on 13 November 2018 and
were signed by:





Cellgest Limited - Designated member

Plasgen LLP (Registered number: OC323974)

Notes to the Financial Statements
for the Year Ended 31 December 2017

1. STATUTORY INFORMATION

Plasgen LLP is registered in England and Wales. The LLP's registered number and
registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the preparation of the financial statements, management has made no judgements,
estimates and assumptions that affect the amounts reported for assets and liabilities as at
the balance sheet date and the amounts reported for revenues and expenses during the
year.

Changes in accounting policies
The LLP has changed its reporting currency from Swiss Francs to Euros. This was done in
order to make the reporting currency same as the functional currency of the LLP. The
comparatives have been restated accordingly.

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 nil years.

Work in progress
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and
handling costs in bringing inventories to their present location and condition.

Plasgen LLP (Registered number: OC323974)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised in the Company's statement of
financial position when the Company becomes a party to the contractual provisions of the
instrument.

Financial assets and financial liabilities are initially measured at transaction price.
Transaction costs that are directly attributable to the acquisition or issue of financial assets
and financial liabilities (other than financial assets and financial liabilities at fair value through
profit or loss) are added to or deducted from the transaction price of the financial assets or
financial liabilities, as appropriate, on initial recognition. Transaction costs directly
attributable to the acquisition of financial assets or financial liabilities at fair value through
profit or loss are recognised immediately in profit or loss.

Trade and other receivables are initially measured at transaction price and are subsequently
measured at amortised cost, using the effective interest rate method.
For the purpose of the statement of cash flows, cash and cash equivalents comprise cash at
bank.

Trade and other payables are initially measured at transaction price and are subsequently
measured at amortised cost, using the effective interest rate method.

Patents & license
Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write
off the cost in equal annual instalments over their estimated lives of 20 years.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2016 - NIL).

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
€   
COST
At 1 January 2017
and 31 December 2017 8,295,000
AMORTISATION
At 1 January 2017 2,220,000
Charge for year 414,750
At 31 December 2017 2,634,750
NET BOOK VALUE
At 31 December 2017 5,660,250
At 31 December 2016 6,075,000

Plasgen LLP (Registered number: OC323974)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.17 31.12.16
€    €   
Other debtors 2,471 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.17 31.12.16
€    €   
Trade creditors 508,350 -
Other creditors 193,656 161,369
702,006 161,369

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

Capital, loans and other debts due to members rank behind creditors in the event of winding
up.