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Registration number: 5846414

Tissue Typing Systems (UK) Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 September 2023

 

Tissue Typing Systems (UK) Ltd

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 9

 

Tissue Typing Systems (UK) Ltd

(Registration number: 5846414)
Abridged Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

2,361

2,550

Current assets

 

Debtors

4

275

1,750

Cash at bank and in hand

 

76,536

98,419

 

76,811

100,169

Prepayments and accrued income

 

616

1,613

Creditors: Amounts falling due within one year

(26,376)

(49,211)

Net current assets

 

51,051

52,571

Total assets less current liabilities

 

53,412

55,121

Provisions for liabilities

(482)

(518)

Accruals and deferred income

 

(750)

(750)

Net assets

 

52,180

53,853

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

52,080

53,753

Shareholders' funds

 

52,180

53,853

For the financial year ending 30 September 2023 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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.

 

Tissue Typing Systems (UK) Ltd

(Registration number: 5846414)
Abridged Balance Sheet as at 30 September 2023

Approved and authorised by the Board on 5 March 2024 and signed on its behalf by:
 

.........................................
Mr Neil Edwin Jellis
Director

 

Tissue Typing Systems (UK) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

1

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 abridged 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 abridged 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.

Revenue recognition

Turnover comprises the fair value of the 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.

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 and deferred 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.

 

Tissue Typing Systems (UK) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Office equipment

33% Straight line basis

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.

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.

 

Tissue Typing Systems (UK) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 the 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.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Tissue Typing Systems (UK) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2022

9,296

9,296

Additions

1,701

1,701

At 30 September 2023

10,997

10,997

Depreciation

At 1 October 2022

6,746

6,746

Charge for the year

1,890

1,890

At 30 September 2023

8,636

8,636

Carrying amount

At 30 September 2023

2,361

2,361

At 30 September 2022

2,550

2,550

4

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

5

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

6

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £342.43 (2022 - £253.8466) per each Ordinary Shares

34,243

25,385

 

 
 

Tissue Typing Systems (UK) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

Interim dividends paid

2023
£

2022
£

Interim dividend of £342 (2022 - £254) per each Ordinary Shares

34,243

25,385

 

 

7

Related party transactions

 

Tissue Typing Systems (UK) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

Transactions with directors

2023

At 1 October 2022
£

Advances to director
£

Other payments made to company by director
£

At 30 September 2023
£

Mr Neil Edwin Jellis

Directors loan

1,750

198

(5,126)

(3,179)

2022

At 1 October 2021
£

Advances to director
£

Other payments made to company by director
£

At 30 September 2022
£

Mr Neil Edwin Jellis

Directors loan

3,350

4,311

(5,911)

1,750

 

Tissue Typing Systems (UK) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

25,134

25,305

Contributions paid to money purchase schemes

7,200

5,100

32,334

30,405