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Registered Number: 09491490
England and Wales

 

 

 

MOLECULAR WAREHOUSE LTD.


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2021

End date: 31 December 2021
Directors Dr Kirill Alexandrov
Andrea Giacomo Mica
Registered Number 09491490
Registered Office Magdalen Centre, 1 Robert Robinson Avenue
Oxford Science Park
Oxford
OX4 4GA
Accountants Blue Matrix Business Services Ltd
Building 2, Ground Floor
Guildford Business Park
Guildford
Surrey
GU2 8XG
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 December 2021.

Principal activities
The companys principal activity during the year was the Research and Development on biotechnology.

Directors
The directors who served the company throughout the year were as follows:
Dr Kirill Alexandrov (from 10/04/2015)
Andrea Giacomo Mica (from 18/05/2018)

This report was approved by the board and signed on its behalf by:


----------------------------------
Andrea Giacomo Mica
Director

Date approved: 24 August 2022
2
 
 
Notes
 
2021
£
  2020
£
Fixed assets      
Intangible fixed assets 3 696,211    696,211 
Tangible fixed assets 4 22    421 
Investments 5 980    980 
697,213    697,612 
Current assets      
Debtors: amounts falling due within one year 6 492    7,399 
Cash at bank and in hand 5,471    17 
5,963    7,416 
Creditors: amount falling due within one year 7 (65,995)   (58,233)
Net current liabilities (60,032)   (50,817)
 
Total assets less current liabilities 637,181    646,795 
Net assets 637,181    646,795 
 

Capital and reserves
     
Called up share capital 8 619    619 
Share premium account 9 2,344,445    2,344,445 
Profit and loss account (1,707,883)   (1,698,269)
Shareholder's funds 637,181    646,795 
 


For the year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 24 August 2022 and were signed on its behalf by:


--------------------------------
Andrea Giacomo Mica
Director
3
  Equity share capital   Equity share premium   Retained Earnings   Total
£ £ £ £
At 01 January 2020 619  2,344,445  (1,621,738) 723,326 
Profit for the year (76,531) (76,531)
Total comprehensive income for the year (76,531) (76,531)
Total investments by and distributions to owners
At 31 December 2020 619  2,344,445  (1,698,269) 646,795 
At 01 January 2021 619  2,344,445  (1,698,269) 646,795 
Profit for the year (9,614) (9,614)
Total comprehensive income for the year (9,614) (9,614)
Total investments by and distributions to owners
At 31 December 2021 619  2,344,445  (1,707,883) 637,181 
4
General Information
Molecular Warehouse Ltd. is a private company, limited by shares, registered in England and Wales, registration number 09491490, registration address Magdalen Centre, 1 Robert Robinson Avenue, Oxford Science Park, Oxford, OX4 4GA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The company is looking for opportunities to partner or develop products using its technology. It does not currently have any employees, but the directors are actively seeking opportunities and the key IP and know how they are retained. Further fundraising is envisaged when partnerships or opportunities have been established.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Research and development expenditure
Expenditure on research and development is written off in the year in which it is incurred. Development expenditure is capitalised and amortised over its useful life when the criteria for recognising an asset are met.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 taxation
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.
Intangible assets
Intangible assets are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Development expenditures
Research and development expenditure is charged to the income statement in the period in which it is incurred. However, where the directors are satisfied as to the technical, commercial and financial viability of individual projects, development expenditure is deferred and amortised over years during which the company is expected to benefit.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 2 years Straight Line
Office Equipment 3 years Straight Line
Laboratory Equipment 3 years Straight Line
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value and relate to investments in associates.
2.

Average number of employees


Average number of employees during the year was 0 (2020 : 1).
3.

Intangible fixed assets

Cost Research and Development   Total
  £   £
At 01 January 2021 696,211    696,211 
Additions  
Disposals  
At 31 December 2021 696,211    696,211 
Amortisation
At 01 January 2021  
Charge for year  
On disposals  
At 31 December 2021  
Net book values
At 31 December 2021 696,211    696,211 
At 31 December 2020 696,211    696,211 


4.

Tangible fixed assets

Cost or valuation Computer Equipment   Laboratory Equipment   Office Equipment   Total
  £   £   £   £
At 01 January 2021 13,863    74,506    8,511    96,880 
Additions      
Disposals      
At 31 December 2021 13,863    74,506    8,511    96,880 
Depreciation
At 01 January 2021 13,442    74,506    8,511    96,459 
Charge for year 399        399 
On disposals      
At 31 December 2021 13,841    74,506    8,511    96,858 
Net book values
Closing balance as at 31 December 2021 22        22 
Opening balance as at 01 January 2021 421        421 


5.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 January 2021 980    980 
Additions  
Transfer to/from Tangible fixed assets  
Disposals  
At 31 December 2021 980    980 

6.

Debtors: amounts falling due within one year

2021
£
  2020
£
Prepayments   4,273 
Accrued Income   1,747 
Other Debtors 368    368 
PAYE & Social Security 124    124 
VAT   887 
492    7,399 

7.

Creditors: amount falling due within one year

2021
£
  2020
£
Trade Creditors 56,480    56,924 
VAT Control Account 260   
Accrued Expenses 5,000   
Other Creditors 59    1,160 
Directors' Current Accounts 4,196    149 
65,995    58,233 

8.

Share Capital

Allotted, called up and fully paid
2021
£
  2020
£
5,266,032 Class A shares of £0.01 each 52,660    52,660 
430,392 B Investment shares of £0.01 each 4,304    4,304 
495,000 Series FS shares of £0.01 each 4,950    4,950 
61,914    61,914 

9.

Share premium account

2021
£
  2020
£
Equity Share Premium b/fwd 2,344,445    2,344,445 
2,344,445    2,344,445 

5