EU Biotech Development Limited
Registered number: SC199767
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 65,978 87,971
Current assets
Cash at bank 588,128 589,663
Creditors: amounts falling due within one year 4 (593,419) (568,219)
Net current (liabilities)/assets (5,291) 21,444
Net assets 60,687 109,415
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account 50,687 99,415
Shareholders' funds 60,687 109,415
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M S Choung
Director
Approved by the board on 14 September 2023
EU Biotech Development Limited
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
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).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2022 156,393
At 28 February 2023 156,393
Depreciation
At 1 March 2022 68,422
Charge for the year 21,993
At 28 February 2023 90,415
Net book value
At 28 February 2023 65,978
At 28 February 2022 87,971
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 544,118 544,118
Corporation tax 8,194 8,194
Other creditors 41,107 15,907
593,419 568,219
5 Other information
EU Biotech Development Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
1 George Square
Glasgow
G2 1AL
EU Biotech Development Limited SC199767 false 2022-03-01 2023-02-28 2023-02-28 VT Final Accounts April 2022 M S Choung No description of principal activity SC199767 2021-03-01 2022-02-28 SC199767 core:WithinOneYear 2022-02-28 SC199767 core:ShareCapital 2022-02-28 SC199767 core:RetainedEarningsAccumulatedLosses 2022-02-28 SC199767 2022-03-01 2023-02-28 SC199767 bus:EntityNoLongerTradingButTradedInPast 2022-03-01 2023-02-28 SC199767 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 SC199767 bus:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 SC199767 bus:Director40 2022-03-01 2023-02-28 SC199767 2 2022-03-01 2023-02-28 SC199767 core:PlantMachinery 2022-03-01 2023-02-28 SC199767 countries:England 2022-03-01 2023-02-28 SC199767 bus:FRS102 2022-03-01 2023-02-28 SC199767 bus:FullAccounts 2022-03-01 2023-02-28 SC199767 2023-02-28 SC199767 core:WithinOneYear 2023-02-28 SC199767 core:ShareCapital 2023-02-28 SC199767 core:RetainedEarningsAccumulatedLosses 2023-02-28 SC199767 core:PlantMachinery 2023-02-28 SC199767 2022-02-28 SC199767 core:PlantMachinery 2022-02-28 iso4217:GBP xbrli:pure