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REGISTERED NUMBER: 04476368 (England and Wales)









Financial Statements

for the Year Ended 31 December 2022

for

KNOELL CUMBRIA LIMITED

PREVIOUSLY KNOWN AS
CYTON BIOSCIENCES LIMITED

KNOELL CUMBRIA LIMITED (REGISTERED NUMBER: 04476368)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KNOELL CUMBRIA LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: K E Bate
F Knoell





SECRETARY: M J Munro





REGISTERED OFFICE: Bath House
6 - 8 Bath Street
Bristol
BS1 6HL





REGISTERED NUMBER: 04476368 (England and Wales)





AUDITORS: Shorts
Chartered Accountants & Statutory Auditor
Cedar House
63 Napier Street
Sheffield
S11 8HA

KNOELL CUMBRIA LIMITED (REGISTERED NUMBER: 04476368)

Balance Sheet
31 DECEMBER 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 43,969

CURRENT ASSETS
Debtors 5 - 467,245
Cash at bank and in hand - 488,517
- 955,762
CREDITORS
Amounts falling due within one year 6 (437,218 ) (1,005,024 )
NET CURRENT LIABILITIES (437,218 ) (49,262 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(437,218

)

(5,293

)

PROVISIONS FOR LIABILITIES - (9,152 )
NET LIABILITIES (437,218 ) (14,445 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (437,318 ) (14,545 )
(437,218 ) (14,445 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by:





K E Bate - Director


KNOELL CUMBRIA LIMITED (REGISTERED NUMBER: 04476368)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022


1. COMPANY INFORMATION

Knoell Cumbria Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's principal activities and nature of its operations are disclosed in the Directors' Report.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with subsidiaries within the group.

Turnover
Turnover comprises the fair value of consideration received or receivable for the sale of goods and provision of services 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 33% on cost, 25% on reducing balance and 15% on cost

KNOELL CUMBRIA LIMITED (REGISTERED NUMBER: 04476368)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

KNOELL CUMBRIA LIMITED (REGISTERED NUMBER: 04476368)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


2. ACCOUNTING POLICIES - continued

Foreign currencies
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 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 rates prevailing on the initial transaction dates.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 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.

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2021 - 19 ) .

KNOELL CUMBRIA LIMITED (REGISTERED NUMBER: 04476368)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 January 2022 19,679 1,407 192,795 213,881
Additions - - 2,672 2,672
Disposals (19,679 ) (1,407 ) (195,467 ) (216,553 )
At 31 December 2022 - - - -
DEPRECIATION
At 1 January 2022 14,971 1,407 153,534 169,912
Charge for year 601 - 10,404 11,005
Eliminated on disposal (15,572 ) (1,407 ) (163,938 ) (180,917 )
At 31 December 2022 - - - -
NET BOOK VALUE
At 31 December 2022 - - - -
At 31 December 2021 4,708 - 39,261 43,969

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors - 203,949
Amounts owed by group undertakings - 479
Other debtors - 24,665
Tax - 63,527
VAT - 45,419
Prepayments and accrued income - 129,206
- 467,245

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors - 83,633
Amounts owed to group undertakings 437,218 853,524
Social security and other taxes - 18,142
Other creditors - 448
Accrued expenses and deferred income - 49,277
437,218 1,005,024

KNOELL CUMBRIA LIMITED (REGISTERED NUMBER: 04476368)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£    £   
Within one year 12,000 24,000
Between one and five years - 12,000
12,000 36,000

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for disclaimer of opinion
We have been unable to place appropriate reliance on the adequacy of the audit work undertaken by the predecessor auditors of the company's financial statements for the year ended 31 December 2021. Our audit opinion on the current period's financial statements is therefore modified because of the pervasive effect this matter has both on the comparability and accuracy of the reported results for the current period's figures and the corresponding figures.

Matters required to report by exception
Notwithstanding our disclaimer of an opinion on the financial statements, in the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Director's report.

Arising from the limitation of our work referred to above:
- we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and
- we were unable to determine whether adequate accounting records have been kept.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Andrew Irvine (Senior Statutory Auditor)
for and on behalf of Shorts

9. PARENT COMPANY

The company is a 100% subsidiary of Knoell UK Holdings Limited, a company incorporated in England and Wales. The company's registered office is 68 Macrae Road, Eden Office Park, Ham Green, Bristol, BS20 0DD, which is also its principal place of business.

Knoell Germany GmbH, a company incorporated in Germany, is the ultimate parent company of the group and smaller group for which consolidated financial statements are drawn up of which the company is a member. Copies of these financial statements are available from the ultimate parent company's registered office of Eastsite XII, Konrad-Zuse-Ring 25, 68163 Mannheim, Germany.