Registered number
11544382
Spectrum Biomedical UK Limited
Filleted Accounts
31 March 2023
Spectrum Biomedical UK Limited
Registered number: 11544382
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 - 359,868
Current assets
Stocks 37,020 133,739
Debtors 5 416,548 364,056
Cash at bank and in hand 197,927 403,525
651,495 901,320
Creditors: amounts falling due within one year 6 (6,682,499) (5,756,711)
Net current liabilities (6,031,004) (4,855,391)
Net liabilities (6,031,004) (4,495,523)
Capital and reserves
Called up share capital 200 200
Profit and loss account (6,031,204) (4,495,723)
Shareholders' funds (6,031,004) (4,495,523)
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Brunker
Director
Approved by the board on 14 November 2023
Spectrum Biomedical UK Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
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).
Turnover
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 . Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Going concern
The directors have assessed whether the company is a going concern and have considered all available information about the future and are confident of the company's ability to continue as a going concern.

The directors have had agreement that the company wiill continue to be financially supported by other group companies for the foreseeable future.
Tangible fixed assets
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:
Leasehold Improvements over 25 years
Plant and machinery 15% reducing balance, 20%-33% on cost
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
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. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Audit information
The audit report is unqualified.
Senior statutory auditor: Geoffrey Little FCA,CTA
Firm: Bell Anderson Limited
Date of audit report: 14 November 2023
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 17 17
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 334,987 237,786 572,773
Impairment of assets (334,987) (237,786) (572,773)
At 31 March 2023 - - -
Depreciation
At 1 April 2022 58,004 154,901 212,905
Charge for the year 41,873 39,032 80,905
Impairment of assets (99,877) (193,933)
At 31 March 2023 - - -
Net book value
At 31 March 2023 - - -
At 31 March 2022 276,983 82,885 359,868
5 Debtors 2023 2022
£ £
Trade debtors 205,491 241,128
Other debtors 211,057 122,928
416,548 364,056
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 35,707 57,512
Amounts owed to group undertakings and undertakings in which the company has a participating interest 6,012,423 5,351,339
Taxation and social security costs 43,064 49,489
Other creditors 591,305 298,371
6,682,499 5,756,711
7 Controlling party
The ultimate controlling party is Canopy Growth Corporation, a company based in Ontario, Canada and formed in accordance with Canada Business Corporations Act, R.S.C. 1985. C. C-44
8 Other information
Spectrum Biomedical UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
5 Century Court
Westcott Venture Park
Aylesbury
HP18 0XP
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