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Company registration number: 05336536
Sentinel Oncology Ltd
Unaudited filleted financial statements
31 March 2023
Sentinel Oncology Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Sentinel Oncology Ltd
Directors and other information
Directors Stuart Travers
Robert Boyle
Gavin Simpson
Daniel Cowell
John Dixon
Ashok Venkitaramen
Secretary Stuart Travers
Company number 05336536
Registered office 181 Science Park
Milton Road
Cambridge
Cambridgeshire
CB4 0GJ
Business address 181 Science Park
Milton Road
Cambridge
Cambridgeshire
CB4 0GJ
Accountants i-Accounting Solutions Ltd
The Enterprise Centre
University of East Anglia
Norwich
Norfolk
NR4 7TJ
Sentinel Oncology Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Sentinel Oncology Ltd
Year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sentinel Oncology Ltd for the year ended 31 March 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Sentinel Oncology Ltd, as a body, in accordance with the terms of our engagement letter dated 28 June 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Sentinel Oncology Ltd and state those matters that we have agreed to state to the board of directors of Sentinel Oncology Ltd as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sentinel Oncology Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Sentinel Oncology Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Sentinel Oncology Ltd. You consider that Sentinel Oncology Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Sentinel Oncology Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
i-Accounting Solutions Ltd
Chartered Certified Accountant
The Enterprise Centre
University of East Anglia
Norwich
Norfolk
NR4 7TJ
24 July 2023
Sentinel Oncology Ltd
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 14,611 13,460
Investments 6 5 5
_______ _______
14,616 13,465
Current assets
Debtors 7 784,154 136,388
Cash at bank and in hand 3,598,219 3,546,144
_______ _______
4,382,373 3,682,532
Creditors: amounts falling due
within one year 8 ( 1,461,236) ( 491,116)
_______ _______
Net current assets 2,921,137 3,191,416
_______ _______
Total assets less current liabilities 2,935,753 3,204,881
_______ _______
Net assets 2,935,753 3,204,881
_______ _______
Capital and reserves
Called up share capital 8 8
Share premium account 3,005,061 3,005,061
Profit and loss account ( 69,316) 199,812
_______ _______
Shareholders funds 2,935,753 3,204,881
_______ _______
For the year ending 31 March 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 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 21 July 2023 , and are signed on behalf of the board by:
Stuart Travers Robert Boyle
Director Director
Company registration number: 05336536
Sentinel Oncology Ltd
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 181 Science Park, Milton Road, Cambridge, Cambridgeshire, CB4 0GJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in 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 financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 33 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being 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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are recognised at the transaction price, trade creditors, trade debtors, uk bank accounts. Overseas bank accounts are recognised in sterling using HMRC published exchange rate as at 31 March 2023. For all equity instruments regardless of significance, and other financial assets that are individuall y significant, these are assessed individually for impairment
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2022: 5 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 April 2022 44,634 44,634
Additions 5,592 5,592
_______ _______
At 31 March 2023 50,226 50,226
_______ _______
Depreciation
At 1 April 2022 31,174 31,174
Charge for the year 4,441 4,441
_______ _______
At 31 March 2023 35,615 35,615
_______ _______
Carrying amount
At 31 March 2023 14,611 14,611
_______ _______
At 31 March 2022 13,460 13,460
_______ _______
6. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 April 2022 and 31 March 2023 5 5
_______ _______
Impairment
At 1 April 2022 and 31 March 2023 - -
_______ _______
Carrying amount
At 31 March 2023 5 5
_______ _______
At 31 March 2022 5 5
_______ _______
7. Debtors
2023 2022
£ £
Trade debtors 83,319 -
Other debtors 700,835 136,388
_______ _______
784,154 136,388
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 431,358 210,850
Social security and other taxes 15,616 30,755
Other creditors 1,014,262 249,511
_______ _______
1,461,236 491,116
_______ _______