The Vaccine Group Limited 10842271 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is to commericalise novel vaccine platforms for the development of vaccines for use in infection control Digita Accounts Production Advanced 6.30.9574.0 true 10842271 2022-07-01 2023-06-30 10842271 2023-06-30 10842271 core:OtherReservesSubtotal 2023-06-30 10842271 core:RetainedEarningsAccumulatedLosses 2023-06-30 10842271 core:ShareCapital 2023-06-30 10842271 core:SharePremium 2023-06-30 10842271 core:CurrentFinancialInstruments 2023-06-30 10842271 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 10842271 core:Non-currentFinancialInstruments 2023-06-30 10842271 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 10842271 core:PatentsTrademarksLicencesConcessionsSimilar 2023-06-30 10842271 core:FurnitureFittingsToolsEquipment 2023-06-30 10842271 bus:SmallEntities 2022-07-01 2023-06-30 10842271 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 10842271 bus:FullAccounts 2022-07-01 2023-06-30 10842271 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 10842271 bus:RegisteredOffice 2022-07-01 2023-06-30 10842271 bus:Director3 2022-07-01 2023-06-30 10842271 bus:Director4 2022-07-01 2023-06-30 10842271 bus:Director6 2022-07-01 2023-06-30 10842271 bus:Director7 2022-07-01 2023-06-30 10842271 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 10842271 core:LicencesFranchises 2022-07-01 2023-06-30 10842271 core:PatentsTrademarksLicencesConcessionsSimilar 2022-07-01 2023-06-30 10842271 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 10842271 core:OfficeEquipment 2022-07-01 2023-06-30 10842271 core:PlantMachinery 2022-07-01 2023-06-30 10842271 6 2022-07-01 2023-06-30 10842271 countries:EnglandWales 2022-07-01 2023-06-30 10842271 2022-06-30 10842271 core:PatentsTrademarksLicencesConcessionsSimilar 2022-06-30 10842271 core:FurnitureFittingsToolsEquipment 2022-06-30 10842271 2021-07-01 2022-06-30 10842271 2022-06-30 10842271 core:OtherReservesSubtotal 2022-06-30 10842271 core:RetainedEarningsAccumulatedLosses 2022-06-30 10842271 core:ShareCapital 2022-06-30 10842271 core:SharePremium 2022-06-30 10842271 core:CurrentFinancialInstruments 2022-06-30 10842271 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 10842271 core:Non-currentFinancialInstruments 2022-06-30 10842271 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 10842271 core:PatentsTrademarksLicencesConcessionsSimilar 2022-06-30 10842271 core:FurnitureFittingsToolsEquipment 2022-06-30 iso4217:GBP xbrli:pure

Registration number: 10842271

The Vaccine Group Limited

Filleted Unaudited Financial Statements

for the Year Ended 30 June 2023

 

The Vaccine Group Limited
(Registration number: 10842271)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

The Vaccine Group Limited
(Registration number: 10842271)

Company Information

Directors

Dr M Jarvis

Mr M C White

Dr J S Salt

Prof R Fern

Registered office

Plymouth Science Park
1 Davy Road
Derriford
Plymouth
Devon
PL6 8BX

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

The Vaccine Group Limited
(Registration number: 10842271)

Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

116,440

92,685

Tangible assets

5

25,528

32,783

 

141,968

125,468

Current assets

 

Debtors

6

240,837

479,837

Cash at bank and in hand

 

27,499

78,792

 

268,336

558,629

Creditors: Amounts falling due within one year

7

(287,971)

(129,008)

Net current (liabilities)/assets

 

(19,635)

429,621

Total assets less current liabilities

 

122,333

555,089

Creditors: Amounts falling due after more than one year

7

(113,477)

-

Net assets

 

8,856

555,089

Capital and reserves

 

Called up share capital

124

124

Share premium reserve

630,720

646,727

Other reserves - Share options

43,555

14,304

Profit and loss account

(665,543)

(106,066)

Total equity

 

8,856

555,089

 

The Vaccine Group Limited
(Registration number: 10842271)

Balance Sheet as at 30 June 2023

For the financial year ending 30 June 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 23 October 2023 and signed on its behalf by:
 

.........................................
Dr J S Salt
Director

 

The Vaccine Group Limited
(Registration number: 10842271)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Plymouth Science Park
1 Davy Road
Derriford
Plymouth
Devon
PL6 8BX

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods, provision of services and grant income in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Other grants

Grants have been recognised under the performance model and are credited to income
when all performance conditions have been met in full.

 

The Vaccine Group Limited
(Registration number: 10842271)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

Straight line over 5 years

Office equipment

Straight line over 2 years

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents

Straight line over 10 years after successful application

Licences

Straight line over 10 years

 

The Vaccine Group Limited
(Registration number: 10842271)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

The Vaccine Group Limited
(Registration number: 10842271)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2022 - 11).

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 July 2022

130,212

130,212

Additions acquired separately

27,094

27,094

At 30 June 2023

157,306

157,306

Amortisation

At 1 July 2022

37,527

37,527

Amortisation charge

3,339

3,339

At 30 June 2023

40,866

40,866

Carrying amount

At 30 June 2023

116,440

116,440

At 30 June 2022

92,685

92,685

 

The Vaccine Group Limited
(Registration number: 10842271)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2022

63,110

63,110

Additions

1,964

1,964

At 30 June 2023

65,074

65,074

Depreciation

At 1 July 2022

30,327

30,327

Charge for the year

9,219

9,219

At 30 June 2023

39,546

39,546

Carrying amount

At 30 June 2023

25,528

25,528

At 30 June 2022

32,783

32,783

6

Debtors

2023
£

2022
£

Trade debtors

-

259,759

Other debtors

226,995

198,957

Prepayments and accrued income

13,842

21,121

Total current trade and other debtors

240,837

479,837

7

Creditors

2023
£

2022
£

Due within one year

Trade creditors

93,709

44,810

Taxation and social security

15,355

14,028

Other creditors

168,461

6,265

Accrued expenses

10,446

5,046

Deferred income

-

58,859

287,971

129,008

 

The Vaccine Group Limited
(Registration number: 10842271)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

113,477

-

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

113,477

-