2023-01-012023-12-312023-12-31false06500709INTELLIGENT OMICS 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INTELLIGENT OMICS LIMITED

Registered Number
06500709
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

INTELLIGENT OMICS LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

BALL, Graham Roy, Professor
GRUNDY, Robert Ian
HAWORTH, Simon Nicholas, Dr
MASON, William Thomas, Dr

Registered Address

Biocity Nottingham
Pennyfoot Street
Nottingham
NG1 1GF

Registered Number

06500709 (England and Wales)
INTELLIGENT OMICS LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets51,475,1711,195,421
Tangible assets61,1532,306
1,476,3241,197,727
Current assets
Debtors858,553149,231
Cash at bank and on hand18,0403,794
76,593153,025
Creditors amounts falling due within one year9(368,972)(206,312)
Net current assets (liabilities)(292,379)(53,287)
Total assets less current liabilities1,183,9451,144,440
Creditors amounts falling due after one year10(975,512)(1,034,757)
Net assets208,433109,683
Capital and reserves
Called up share capital1,2761,276
Share premium49,90049,900
Profit and loss account157,25758,507
Shareholders' funds208,433109,683
The financial statements were approved and authorised for issue by the Board of Directors on 7 February 2024, and are signed on its behalf by:
HAWORTH, Simon Nicholas, Dr
Director
Registered Company No. 06500709
INTELLIGENT OMICS LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery50
Intangible assets policy
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Costs are recognised as an intangible asset when all of the following criteria are demonstrated: - The technical feasibility of completing the work so that it will be available for use or sale. - The intention to complete the development and use or sell it. - The ability to use the development or to sell it. - How the development will generate probable future economic benefits. - The availability of adequate technical, financial and other resources to complete the development and to use or sell it. - The ability to measure reliably the expenditure attributable to the development during its development.
Foreign currency translation and operations policy
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.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year33
5.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 231,195,4211,195,421
Additions279,750279,750
At 31 December 231,475,1711,475,171
Net book value
At 31 December 231,475,1711,475,171
At 31 December 221,195,4211,195,421
6.Property, plant and equipment

Plant & machinery

Total

££
Cost or valuation
At 01 January 2329,34329,343
At 31 December 2329,34329,343
Depreciation and impairment
At 01 January 2327,03727,037
Charge for year1,1531,153
At 31 December 2328,19028,190
Net book value
At 31 December 231,1531,153
At 31 December 222,3062,306
7.Description of nature of transactions and balances with related parties
Various transactions took place with related parties during the year that were all on normal commercial terms and on an arms length basis and therefore no further discolsure is required by FRS 102 Section 1A.
8.Debtors

2023

2022

££
Trade debtors / trade receivables1,28753,684
Other debtors57,26695,547
Total58,553149,231
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.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables163,546104,820
Bank borrowings and overdrafts3,0063,006
Taxation and social security28,61759,512
Other creditors171,00630,090
Accrued liabilities and deferred income2,7978,884
Total368,972206,312
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.
10.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts4,1717,141
Other creditors971,3411,027,616
Total975,5121,034,757
There is a fixed and floating charge over all the company's assets, this covers all the property or undertaking of the company