Dr Albani Limited 08874152 false 2022-01-01 2022-12-31 2022-12-31 The principal activity of the company is that of holder of patent to counteract gastroesophageal reflux in babies. Digita Accounts Production Advanced 6.30.9574.0 true true 08874152 2022-01-01 2022-12-31 08874152 2022-12-31 08874152 core:RetainedEarningsAccumulatedLosses 2022-12-31 08874152 core:ShareCapital 2022-12-31 08874152 core:SharePremium 2022-12-31 08874152 core:CurrentFinancialInstruments 2022-12-31 08874152 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 08874152 core:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 08874152 core:OfficeEquipment 2022-12-31 08874152 core:OtherPropertyPlantEquipment 2022-12-31 08874152 bus:SmallEntities 2022-01-01 2022-12-31 08874152 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 08874152 bus:FullAccounts 2022-01-01 2022-12-31 08874152 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 08874152 bus:RegisteredOffice 2022-01-01 2022-12-31 08874152 bus:Director2 2022-01-01 2022-12-31 08874152 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 08874152 core:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 08874152 core:ShareCapital 2022-01-01 2022-12-31 08874152 core:SharePremium 2022-01-01 2022-12-31 08874152 core:PatentsTrademarksLicencesConcessionsSimilar 2022-01-01 2022-12-31 08874152 core:OfficeEquipment 2022-01-01 2022-12-31 08874152 core:OtherPropertyPlantEquipment 2022-01-01 2022-12-31 08874152 core:PlantMachinery 2022-01-01 2022-12-31 08874152 core:OtherRelatedParties 2022-01-01 2022-12-31 08874152 countries:AllCountries 2022-01-01 2022-12-31 08874152 2021-12-31 08874152 core:RetainedEarningsAccumulatedLosses 2021-12-31 08874152 core:ShareCapital 2021-12-31 08874152 core:SharePremium 2021-12-31 08874152 core:PatentsTrademarksLicencesConcessionsSimilar 2021-12-31 08874152 core:OfficeEquipment 2021-12-31 08874152 core:OtherPropertyPlantEquipment 2021-12-31 08874152 2021-01-01 2021-12-31 08874152 2021-12-31 08874152 core:RetainedEarningsAccumulatedLosses 2021-12-31 08874152 core:ShareCapital 2021-12-31 08874152 core:SharePremium 2021-12-31 08874152 core:CurrentFinancialInstruments 2021-12-31 08874152 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 08874152 core:PatentsTrademarksLicencesConcessionsSimilar 2021-12-31 08874152 core:OfficeEquipment 2021-12-31 08874152 core:OtherPropertyPlantEquipment 2021-12-31 08874152 core:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 08874152 core:ShareCapital 2021-01-01 2021-12-31 08874152 core:SharePremium 2021-01-01 2021-12-31 08874152 2020-12-31 08874152 core:RetainedEarningsAccumulatedLosses 2020-12-31 08874152 core:ShareCapital 2020-12-31 08874152 core:SharePremium 2020-12-31 iso4217:GBP xbrli:pure

Registration number: 08874152

Dr Albani Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2022

 

Dr Albani Limited

(Registration number: 08874152)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Intangible assets

4

41,980

47,031

Tangible assets

5

337

507

 

42,317

47,538

Current assets

 

Debtors

6

42,400

34,689

Cash at bank and in hand

 

153,996

200,308

 

196,396

234,997

Creditors: Amounts falling due within one year

7

(128,269)

(111,972)

Net current assets

 

68,127

123,025

Net assets

 

110,444

170,563

Capital and reserves

 

Called up share capital

167

167

Share premium reserve

678,483

678,483

Retained earnings

(568,206)

(508,087)

Shareholders' funds

 

110,444

170,563

For the financial 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 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 August 2023 and signed on its behalf by:
 

.........................................
O Albani
Director

 

Dr Albani Limited

Statement of Changes in Equity for the Year Ended 31 December 2022

Share capital
£

Share premium
£

Retained earnings
£

Total
£

At 1 January 2022

167

678,483

(508,087)

170,563

Loss for the year

-

-

(60,119)

(60,119)

At 31 December 2022

167

678,483

(568,206)

110,444

Share capital
£

Share premium
£

Retained earnings
£

Total
£

At 1 January 2021

167

678,483

(306,924)

371,726

Loss for the year

-

-

(201,163)

(201,163)

At 31 December 2021

167

678,483

(508,087)

170,563

 

Dr Albani Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

1

General information

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

The address of its registered office is:
5th Floor, North Side
7/10 Chandos Street
Cavendish Square
London
W1G 9DQ

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.

The financial statements are presented in UK Sterling pounds (£).

Going concern

The financial statements have been prepared on a going concern basis, notwithstanding the net asset deficiency, on the basis that the company will be supported financially by the shareholder to enable the company to meet its financial liabilities as they fall due.

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.

 

Dr Albani Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

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

20% Straight line

Office equipment

20% Straight line

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.

Development costs

Development costs such as the design, construction and testing of pre-production or pre-use prototypes and models are written off as they are incurred


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

Patent

Over 15 years straight line

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.

 

Dr Albani Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2021 - 2).

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 January 2022

76,517

76,517

At 31 December 2022

76,517

76,517

Amortisation

At 1 January 2022

29,486

29,486

Amortisation charge

5,051

5,051

At 31 December 2022

34,537

34,537

Carrying amount

At 31 December 2022

41,980

41,980

At 31 December 2021

47,031

47,031

The aggregate amount of development expenditure recognised as an expense during the period is £12,644 (2021 - £189,597).
 

 

Dr Albani Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

5

Tangible assets

Office equipment
£

Other tangible assets
 £

Total
£

Cost or valuation

At 1 January 2022

4,407

10,350

14,757

At 31 December 2022

4,407

10,350

14,757

Depreciation

At 1 January 2022

3,900

10,350

14,250

Charge for the year

170

-

170

At 31 December 2022

4,070

10,350

14,420

Carrying amount

At 31 December 2022

337

-

337

At 31 December 2021

507

-

507

6

Debtors

Current

2022
£

2021
£

Prepayments

-

6,118

Other debtors

42,400

28,571

7

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

trade creditors

106,988

93,810

Other creditors

21,281

18,162

128,269

111,972

8

Related party transactions

Summary of transactions with other related parties

Other creditors include a shareholder's loan of £14,654 (2020 - £14,654). The loan is interest free with no set repayment dates.