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REGISTERED NUMBER: 12349768 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

SGI-DNA LIMITED

SGI-DNA LIMITED (REGISTERED NUMBER: 12349768)






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


SGI-DNA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







Director: Dr T Robert Nelson





Registered office: Suite 2 First Floor
10 Temple Back
Bristol
United Kingdom
BS1 6FL





Registered number: 12349768 (England and Wales)





Auditors: Mark Arber Limited
Statutory Auditors
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

SGI-DNA LIMITED (REGISTERED NUMBER: 12349768)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £   
CURRENT ASSETS
Debtors 4 300,296 101,801
Cash at bank 128,693 102,307
428,989 204,108
CREDITORS
Amounts falling due within one year 5 (250,074 ) (138,047 )
NET CURRENT ASSETS 178,915 66,061
TOTAL ASSETS LESS CURRENT
LIABILITIES

178,915

66,061

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 63,357 11,535
Retained earnings 115,458 54,426
SHAREHOLDERS' FUNDS 178,915 66,061

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 November 2023 and were signed by:





Dr T Robert Nelson - Director


SGI-DNA LIMITED (REGISTERED NUMBER: 12349768)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Sgi-Dna 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 functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These accounts have been drawn up on the going concern basis. The company is dependent upon the support of its parent company, and only customer, in order to meet its working capital requirements. The parent company has suffered recuring losses from operations that raise substantial doubt about its ability to continue as a going concern. This in turn creates uncertainty over the ability of SGI-DNA Limited to continue as a going concern. The directors of the parent are confident that they will secure financing to enable the group to continue as a going concern for a period exceeding twelve months from the date these financial statements were approved by the board. No adjustments have been made in these accounts which might result from that uncertainty.

Turnover
Revenue is recognised to the extent that is probable that the economic benefit will flow to the Company and the revenue can be reliable measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised.

Revenue represents amounts charged to the Company's parent an agreement for sales and marketing support provided, excluding value added tax. Revenue is recognised when chargeable costs are incurred.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2021 - 7 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed by group undertakings 296,595 100,244
Deferred tax asset 2,208 64
Prepayments 1,493 1,493
300,296 101,801

SGI-DNA LIMITED (REGISTERED NUMBER: 12349768)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 523 4,933
Tax 34,942 7,405
Social security and other taxes 49,183 60,174
Accrued expenses 165,426 65,535
250,074 138,047

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

The Report of the Auditors was unqualified.


As detailed in note 2 to the financial statements these accounts have been drawn up on the going concern basis. The company is dependent upon the support of its parent company, and only customer, in order to meet its working capital requirements. The parent company has suffered recuring losses from operations that raise substantial doubt about its ability to continue as a going concern. This in turn creates uncertainty over the ability of SGI-DNA Limited to continue as a going concern. The directors of the parent are confident that they will secure financing to enable the group to continue as a going concern for a period exceeding twelve months from the date these financial statements were approved by the board. No adjustments have been made in these accounts which might result from that uncertainty and our opinion is not qualified in this respect.

Mark Arber (Senior Statutory Auditor)
for and on behalf of Mark Arber Limited

7. PENSIONS COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £61,846 (2021 - £39,240). Contributions totalling £8,479 (2021 - £8,198) were payable to the fund at the balance sheet date and are included in creditors.

8. RELATED PARTY DISCLOSURES

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 wholly owned subsidiaries within the group.

9. ULTIMATE CONTROLLING PARTY

Telesis Bio Inc. were the ultimate parent company at the balance sheet.

The largest and smallest group in which the results of the company are consolidated is that by Telesis Bio Inc., a privately incorporated in the United States of America, with its principle place of business at 9535 Waples Street, Suite 100, San Diego, CA 92121-2993.

10. SHARE BASED PAYMENTS DISCLOSURE EXEMPTION

The Company has taken the exemption provided in FRS 102 Section 1.12D not to disclose details of share-based payment arrangements concerning equity instruments of another group entity.

11. SECURED LIABILITIES

There is a fixed and floating charge over the assets of the company in respect of borrowings made by the parent company Telesis Bio Inc.