Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-312021-01-01research, development and sale of pharmaceutical and healthcare productstruefalse34trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05717359 2021-01-01 2021-12-31 05717359 2020-01-01 2020-12-31 05717359 2021-12-31 05717359 2020-12-31 05717359 c:Director1 2021-01-01 2021-12-31 05717359 d:PlantMachinery 2021-01-01 2021-12-31 05717359 d:PlantMachinery 2021-12-31 05717359 d:PlantMachinery 2020-12-31 05717359 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05717359 d:FurnitureFittings 2021-01-01 2021-12-31 05717359 d:FurnitureFittings 2021-12-31 05717359 d:FurnitureFittings 2020-12-31 05717359 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05717359 d:OfficeEquipment 2021-01-01 2021-12-31 05717359 d:OfficeEquipment 2021-12-31 05717359 d:OfficeEquipment 2020-12-31 05717359 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05717359 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05717359 d:PatentsTrademarksLicencesConcessionsSimilar 2021-01-01 2021-12-31 05717359 d:PatentsTrademarksLicencesConcessionsSimilar 2021-12-31 05717359 d:PatentsTrademarksLicencesConcessionsSimilar 2020-12-31 05717359 d:CurrentFinancialInstruments 2021-12-31 05717359 d:CurrentFinancialInstruments 2020-12-31 05717359 d:Non-currentFinancialInstruments 2021-12-31 05717359 d:Non-currentFinancialInstruments 2020-12-31 05717359 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 05717359 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 05717359 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 05717359 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 05717359 d:ShareCapital 2021-12-31 05717359 d:ShareCapital 2020-12-31 05717359 d:RetainedEarningsAccumulatedLosses 2021-12-31 05717359 d:RetainedEarningsAccumulatedLosses 2020-12-31 05717359 c:FRS102 2021-01-01 2021-12-31 05717359 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 05717359 c:FullAccounts 2021-01-01 2021-12-31 05717359 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 05717359 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2021-01-01 2021-12-31 05717359 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 05717359










CITROX BIOSCIENCES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

 
CITROX BIOSCIENCES LIMITED
REGISTERED NUMBER:05717359

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2021
2020
2020
Note
£
£
£
£

Fixed assets
  

Intangible assets
 4 
233,456
212,281

Tangible assets
 5 
11,591
1,744

Investments
  
25,004
-

  
270,051
214,025

Current assets
  

Stocks
  
732,595
514,267

Debtors
 7 
747,188
297,097

Cash at bank and in hand
 8 
79,228
492,973

  
1,559,011
1,304,337

Creditors: amounts falling due within one year
 9 
(1,124,188)
(714,081)

Net current assets
  
 
 
434,823
 
 
590,256

Total assets less current liabilities
  
704,874
804,281

Creditors: amounts falling due after more than one year
 10 
(181,900)
(131,900)

  

Net assets
  
522,974
672,381


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
521,974
671,381

  
522,974
672,381


Page 1

 
CITROX BIOSCIENCES LIMITED
REGISTERED NUMBER:05717359
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Richard Vaughan Morgan Thomas
Director

Date: 8 July 2022

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
CITROX BIOSCIENCES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Citrox Biosciences Limited is a private limited Company, incorporated in England and Wales.
The registered office and principal place of business is 6 Nene Road, Bicton Industrial Park, Kimbolton, Huntingdon, PE28 0LF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
CITROX BIOSCIENCES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Trade marks and patents
-
5%
per annum straight line

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
33.3% per annum
Property improvements
-
5% per annum
Office equipment
-
33 % per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
CITROX BIOSCIENCES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.9

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
CITROX BIOSCIENCES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.13

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.14

Research and development

Development costs are capitalised within tangible assets where they can be identified with a specific product or project anticipated to produce future benefits, and are amortised on the straight line basis over the anticipated life of the benefit arising from the competed product or project.
Deferred research and development costs are reviewed annually, and where future benefits are deemed to have ceased or to be in doubt, the balance of any related research and development is written off to the Statement of Income and Retained Earnings.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2020 - 4).

Page 6

 
CITROX BIOSCIENCES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Intangible assets




Trade marks & patents

£



Cost


At 1 January 2021
262,655


Additions
41,311



At 31 December 2021

303,966



Amortisation


At 1 January 2021
50,374


Charge for the year on owned assets
20,136



At 31 December 2021

70,510



Net book value



At 31 December 2021
233,456



At 31 December 2020
212,281



Page 7

 
CITROX BIOSCIENCES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

5.


Tangible fixed assets





Plant and machinery
Property improvements
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2021
3,312
-
1,777
5,089


Additions
-
9,078
1,669
10,747



At 31 December 2021

3,312
9,078
3,446
15,836



Depreciation


At 1 January 2021
3,312
-
33
3,345


Charge for the year on owned assets
-
76
824
900



At 31 December 2021

3,312
76
857
4,245



Net book value



At 31 December 2021
-
9,002
2,589
11,591



At 31 December 2020
-
-
1,744
1,744


6.


Fixed asset investments





Trade investments

£





Additions
25,004




Page 8

 
CITROX BIOSCIENCES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

7.


Debtors


2021
2020
£
£

Due after more than one year

Amounts owed by joint ventures and associated undertakings
6,000
6,000

Due within one year

Trade debtors
373,825
58,674

Other debtors
325,866
232,423

Prepayments and accrued income
6,843
-

Tax recoverable
34,654
-

747,188
297,097



8.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
79,228
492,973



9.


Creditors: Amounts falling due within one year

2021
2020
£
£

Trade creditors
757,507
279,651

Corporation tax
46,947
99,473

Other taxation and social security
50,481
82,784

Other creditors
186,516
119,447

Accruals and deferred income
82,737
132,726

1,124,188
714,081


2021
2020
£
£

Other taxation and social security

PAYE/NI control
8,077
14,360

VAT control
42,404
68,424

50,481
82,784


Page 9

 
CITROX BIOSCIENCES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

10.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Other loans
50,000
-

Amounts owed to associates
50,000
50,000

Other creditors
81,900
81,900

181,900
131,900



11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the Company in an independently administered fund. The pension cost charge represents contributions paid by the Company to the fund and amounted to £3,274 (2020: £nil).


12.


Related party transactions

At 31 December 2021 there was a balance owing to Sue Thomas of £31,900 (2020: £31,900). This amount is shown within creditors due after more than one year. 
At 31 December 2021, there was a balance of £58,000 (2020 - £58,000) due to Infection Control Enterprise Limited, a company of which James Waters is a director 
Debtors due after more than one year relates to a loan with Fulcrum Health Limited of £6,000 (2020: £6,000). Fulcrum Health Limited is a company in which Richard V M Thomas is a director.
Oraldent Limited is a company in which Richard V M Thomas is a director. There is a balance in trade creditors due to Oraldent Limited of £113,604 (2020: £144,865). Oraldent Limited have also made a loan to the Company and a balance of £174,184 (2020: £107,115) due within one year was outstanding at the year end.
Curaden (UK) Limited is a company in which Richard V M Thomas is a director. There is a balance in trade creditors due to Curaden (UK) Limited of £49,868 (2020: £31,297). Curaden (UK) Limited have also made a loan to the Company and a balance of £50,000 (2020: £50,000) was outstanding at the year end and due after more than one year. 

 
Page 10