Artemida Pharma Ltd |
Notes to the Accounts |
for the year ended 30 April 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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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). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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. |
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Tangible fixed assets |
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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: |
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Fixtures, fittings, tools and equipment |
25% on reducing balance |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. Current and deferred tax assets and liabilities are not discounted. |
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Foreign currency translation |
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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. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
2 |
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5 |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
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Cost |
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At 1 May 2022 |
24,876 |
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Additions |
3,361 |
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At 30 April 2023 |
28,237 |
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Depreciation |
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At 1 May 2022 |
17,141 |
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Charge for the year |
2,774 |
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At 30 April 2023 |
19,915 |
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Net book value |
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At 30 April 2023 |
8,322 |
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At 30 April 2022 |
7,735 |
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4 |
Investments |
Investments in |
subsidiary |
undertakings |
£ |
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Cost |
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At 1 May 2022 |
151 |
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At 30 April 2023 |
151 |
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Subsidiary Undertakings |
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The following were subsidiary undertakings of the Company: |
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Name |
Country of incorporation |
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Class of share |
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Holding |
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Principle activities |
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Artemida Pharma Europe Ltd |
Ireland |
100 Ordinary shares |
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100% |
Pharma Research Consultancy |
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of Euro 1 each |
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The aggregate of the share capital and reserves as at 30 April 2023 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows: |
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Aggregate of shares capital and reserves |
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Euro |
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Artemida Pharma Europe Ltd |
(1,764) |
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5 |
Debtors |
2023 |
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2022 |
£ |
£ |
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Trade debtors |
44,995 |
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61,079 |
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Other debtors |
74,087 |
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89,837 |
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119,082 |
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150,916 |
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6 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Bank loans and overdrafts |
706 |
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2,260 |
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Trade creditors |
27,090 |
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34,368 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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(23,051) |
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44,107 |
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Taxation and social security costs |
17,582 |
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108,619 |
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Other creditors |
29,807 |
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27,996 |
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52,134 |
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217,350 |
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7 |
Controlling party |
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The ultimate controlling parties are the Directors jointly. |
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8 |
Other information |
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Artemida Pharma Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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Stevenage Bioscience Catalyst |
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Gunnels Wood Road |
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Stevenage |
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Hertfordshire |
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SG1 2FX |