1 January 2022 v2023.25.1 limited_company_frs_102_section_1a_v1_1_0 companies_houseSoftwarefalsetruetruetrueNo description of principal activityxbrli:purexbrli:sharesiso4217:GBP128623252022-01-012022-12-31128623252022-12-3112862325bus:Director12022-01-012022-12-3112862325bus:Director22022-01-012022-12-3112862325bus:Director32022-01-012022-12-3112862325bus:Director42022-01-012022-12-3112862325bus:Director42022-12-3112862325bus:CompanySecretary12022-01-012022-12-3112862325bus:RegisteredOffice2022-01-012022-12-31128623252020-09-072021-12-31128623252021-12-3112862325core:WithinOneYear2022-12-3112862325core:WithinOneYear2021-12-3112862325core:ShareCapital2022-12-3112862325core:ShareCapital2021-12-3112862325core:SharePremium2022-12-3112862325core:SharePremium2021-12-3112862325core:RetainedEarningsAccumulatedLosses2022-12-3112862325core:RetainedEarningsAccumulatedLosses2021-12-3112862325core:RetainedEarningsAccumulatedLosses2020-09-072021-12-3112862325core:ShareCapital2020-09-072021-12-3112862325core:SharePremium2020-09-072021-12-3112862325core:ShareCapital2022-01-0112862325core:SharePremium2022-01-0112862325core:RetainedEarningsAccumulatedLosses2022-01-01128623252022-01-0112862325core:RetainedEarningsAccumulatedLosses2022-01-012022-12-3112862325core:ShareCapital2022-01-012022-12-3112862325core:SharePremium2022-01-012022-12-3112862325core:PlantMachinery2022-01-0112862325core:LandBuildings2022-01-012022-12-3112862325core:PlantMachinery2022-01-012022-12-3112862325core:LandBuildings2022-12-3112862325core:PlantMachinery2022-12-3112862325core:PlantMachinery2021-12-311286232512022-01-012022-12-3112862325countries:EnglandWales2022-01-012022-12-3112862325bus:AuditExemptWithAccountantsReport2022-01-012022-12-3112862325bus:PrivateLimitedCompanyLtd2022-01-012022-12-3112862325bus:SmallEntities2022-01-012022-12-3112862325bus:FullAccounts2022-01-012022-12-31
Company registration number:
12862325
Regulatory Genome Development Ltd
Unaudited Financial Statements for the year ended
31 December 2022
Regulatory Genome Development Ltd
Officers and Professional Advisers
Year ended
31 December 2022
Directors
J Pritchard
R Seewald
R Wardrop
K Wilson
(resigned
7 January 2022
)
Company secretary
John Robert Stuart Dodsworth
Registered office
Box 112 23 King Street
Cambridge
CB1 1AH
United Kingdom
Accountant
ONE ZERO ACCOUNTANCY LIMITED
Stirling House
Denny End Rd Waterbeach
Cambridge
CB25 9PB
United Kingdom
Regulatory Genome Development Ltd
Directors' Report
Year ended
31 December 2022
The directors present their report and the unaudited
financial statements
of the company for the year ended 31 December 2022.

Directors

The directors who served the company during the year were as follows:
J Pritchard
R Seewald
R Wardrop
K Wilson
(resigned
7 January 2022
)

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
30 September 2023
and signed on behalf of the board by:
R Wardrop
Director
Regulatory Genome Development Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Regulatory Genome Development Ltd
Year ended
31 December 2022
As described on the statement of financial position, the Board of Directors of
Regulatory Genome Development Ltd
are responsible for the preparation of the
financial statements
for the year ended
31 December 2022
, which comprise the income statement, statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
ONE ZERO ACCOUNTANCY LIMITED
Stirling House
Denny End Rd Waterbeach
Cambridge
CB25 9PB
United Kingdom
Regulatory Genome Development Ltd
Income Statement
Year ended
31 December 2022
Year to 31 Dec 2022Period from 7 Sep 2020 to 31 Dec 2021
££
Turnover
1,387,595
 
199,905
 
Gross profit
1,387,595
 
199,905
 
Administrative expenses
(4,573,670
)
(1,232,801
)
Operating loss
(3,186,075
)
(1,032,896
)
Other interest receivable and similar income
1,109
  -  
Loss before tax
(3,184,966
)
(1,032,896
)
Tax on loss -   -  
Loss for the financial year
(3,184,966
)
(1,032,896
)
The company has no other recognised items of income or expense other than the results for the year as set out above.
Regulatory Genome Development Ltd
Statement of Financial Position
31 December 2022
20222021
Note££
Fixed assets    
Tangible assets 5
136,492
 
4,215
 
Current assets    
Debtors 6
656,761
 
88,706
 
Cash at bank and in hand
289,621
 
1,401,803
 
946,382
 
1,490,509
 
Creditors: amounts falling due within one year 7
(549,009
)
(132,495
)
Net current assets
397,373
 
1,358,014
 
Total assets less current liabilities 533,865   1,362,229  
Capital and reserves    
Called up share capital
247
 
195
 
Share premium
4,751,480
 
2,394,930
 
Profit and loss account
(4,217,862
)
(1,032,896
)
Shareholders funds
533,865
 
1,362,229
 
For the year ending
31 December 2022
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These
financial statements
were approved by the board of directors and authorised for issue on
30 September 2023
, and are signed on behalf of the board by:
R Wardrop
Director
Company registration number:
12862325
Regulatory Genome Development Ltd
Statement of Changes in Equity
Year ended
31 December 2022
Called up share capitalShare premium accountProfit and loss accountTotal
££££
At 7 September 2020 -   -   -   -  
Loss for the period- - (1,032,896)(1,032,896)
Total comprehensive income for the period- - 
(1,032,896
)
(1,032,896
)
Issue of shares
195
 
2,394,930
 - 
2,395,125
 
Total investments by and distributions to owners
195
 
2,394,930
 - 
2,395,125
 
At 31 December 2021 and 
1 January 2022
195
 
2,394,930
 
(1,032,896
)
1,362,229
 
Loss for the year- - (3,184,966)(3,184,966)
Total comprehensive income for the year- - 
(3,184,966
)
(3,184,966
)
Issue of shares
52
 
2,356,550
 - 
2,356,602
 
Total investments by and distributions to owners
52
 
2,356,550
 - 
2,356,602
 
At
31 December 2022
247
 
4,751,480
 
(4,217,862
)
533,865
 
Regulatory Genome Development Ltd
Notes to the Financial Statements
Year ended
31 December 2022

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Box 112 23 King Street
,
Cambridge
,
CB1 1AH
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Impairment

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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was
21
(2021:
9
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 January 2022
-  
5,620
 
5,620
 
Additions
109,689
 
61,236
 
170,925
 
At
31 December 2022
109,689
 
66,856
 
176,545
 
Depreciation      
At
1 January 2022
-  
1,405
 
1,405
 
Charge
21,936
 
16,712
 
38,648
 
At
31 December 2022
21,936
 
18,117
 
40,053
 
Carrying amount      
At
31 December 2022
87,753
 
48,739
 
136,492
 
At 31 December 2021 -  
4,215
 
4,215
 

6 Debtors

20222021
££
Trade debtors
411,722
 
48,482
 
Other debtors
245,039
 
40,224
 
656,761
 
88,706
 

7 Creditors: amounts falling due within one year

20222021
££
Trade creditors
453,728
 
109,551
 
Taxation and social security
74,149
 
20,468
 
Other creditors
21,132
 
2,476
 
549,009
 
132,495