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PROMETHEUS REGENERATION R&D LIMITED

Registered Number
SC597613
(Scotland)

Unaudited Financial Statements for the Year ended
31 May 2022

PROMETHEUS REGENERATION R&D LIMITED
Company Information
for the year from 1 June 2021 to 31 May 2022

Directors

Dr Frederic Jean Max Picard
Dr Angela Helen Deakin
Gilles Jean Yves Thieffry

Registered Address

Flat 1/1 16, Dowanside Road
Glasgow
G12 9DA

Registered Number

SC597613 (Scotland)
PROMETHEUS REGENERATION R&D LIMITED
Balance Sheet as at
31 May 2022

Notes

2022

2021

£

£

£

£

Fixed assets
Intangible assets67,2107,415
Tangible assets728,33732,662
35,54740,077
Current assets
Debtors6,104384
Cash at bank and on hand49,95561,105
56,05961,489
Creditors amounts falling due within one year(122,451)(114,632)
Net current assets (liabilities)(66,392)(53,143)
Total assets less current liabilities(30,845)(13,066)
Creditors amounts falling due after one year(102,841)(10,841)
Provisions for liabilities(5,384)(6,206)
Net assets(139,070)(30,113)
Capital and reserves
Profit and loss account(139,070)(30,113)
Shareholders' funds(139,070)(30,113)
The financial statements were approved and authorised for issue by the Board of Directors on 26 August 2022, and are signed on its behalf by:
Dr Frederic Jean Max Picard
Director
Registered Company No. SC597613
PROMETHEUS REGENERATION R&D LIMITED
Notes to the Financial Statements
for the year ended 31 May 2022

1.Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
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).
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery3
Fixtures and fittings3
Intangible assets policy
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Government grants and other government assistance policy
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognizes the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful lifeof the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred incomeand not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20222021
Average number of employees during the year55
6.Intangible assets

Total

£
Cost or valuation
At 01 June 217,516
Additions1,374
At 31 May 228,890
Amortisation and impairment
At 01 June 21101
Charge for year1,579
At 31 May 221,680
Net book value
At 31 May 227,210
At 31 May 217,415
7.Property, plant and equipment

Total

£
Cost or valuation
At 01 June 2133,083
Additions8,446
At 31 May 2241,529
Depreciation and impairment
At 01 June 21421
Charge for year12,771
At 31 May 2213,192
Net book value
At 31 May 2228,337
At 31 May 2132,662