Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-01-0172110 - Research and experimental development on biotechnology33falsetruefalse 12696824 2023-01-01 2023-12-31 12696824 2022-01-01 2022-12-31 12696824 2023-12-31 12696824 2022-12-31 12696824 2022-01-01 12696824 c:Director1 2023-01-01 2023-12-31 12696824 d:OfficeEquipment 2023-01-01 2023-12-31 12696824 d:OfficeEquipment 2023-12-31 12696824 d:OfficeEquipment 2022-12-31 12696824 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12696824 d:ComputerEquipment 2023-01-01 2023-12-31 12696824 d:ComputerEquipment 2023-12-31 12696824 d:ComputerEquipment 2022-12-31 12696824 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12696824 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12696824 d:CurrentFinancialInstruments 2023-12-31 12696824 d:CurrentFinancialInstruments 2022-12-31 12696824 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12696824 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12696824 d:ShareCapital 2023-12-31 12696824 d:ShareCapital 2022-01-01 2022-12-31 12696824 d:ShareCapital 2022-12-31 12696824 d:ShareCapital 2022-01-01 12696824 d:SharePremium 2023-12-31 12696824 d:SharePremium 2022-01-01 2022-12-31 12696824 d:SharePremium 2022-12-31 12696824 d:SharePremium 2022-01-01 12696824 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 12696824 d:RetainedEarningsAccumulatedLosses 2023-12-31 12696824 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 12696824 d:RetainedEarningsAccumulatedLosses 2022-12-31 12696824 d:RetainedEarningsAccumulatedLosses 2022-01-01 12696824 c:OrdinaryShareClass1 2023-01-01 2023-12-31 12696824 c:OrdinaryShareClass1 2023-12-31 12696824 c:OrdinaryShareClass1 2022-12-31 12696824 c:FRS102 2023-01-01 2023-12-31 12696824 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12696824 c:FullAccounts 2023-01-01 2023-12-31 12696824 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12696824 6 2023-01-01 2023-12-31 12696824 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12696824










SPECTROMA LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023



 
SPECTROMA LIMITED
REGISTERED NUMBER: 12696824

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,242
8,957

Investments
 5 
191,462
191,462

  
197,704
200,419

Current assets
  

Debtors: amounts falling due within one year
 6 
2,149
31,018

Cash at bank and in hand
 7 
3,165
11,354

  
5,314
42,372

Creditors: amounts falling due within one year
 8 
(360,411)
(376,682)

Net current liabilities
  
 
 
(355,097)
 
 
(334,310)

Total assets less current liabilities
  
(157,393)
(133,891)

  

Net liabilities
  
(157,393)
(133,891)


Capital and reserves
  

Called up share capital 
 9 
2,000
2,000

Share premium account
  
11,508
11,508

Profit and loss account
  
(170,901)
(147,399)

  
(157,393)
(133,891)


Page 1

 
SPECTROMA LIMITED
REGISTERED NUMBER: 12696824

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




David Herbada
Director

Date: 25 March 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
SPECTROMA LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
2,000
11,988
(8,242)
5,746



Loss for the year
-
-
(139,157)
(139,157)

Shares issued during the year
-
(480)
-
(480)



At 1 January 2023
2,000
11,508
(147,399)
(133,891)



Loss for the year
-
-
(23,502)
(23,502)


At 31 December 2023
2,000
11,508
(170,901)
(157,393)


The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
SPECTROMA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Spectroma Limited is a private company limited by shares and incorporated in England and Wales. The registered office address is Cromwell Business Centre Unit 18, 27 Fairfax House, Cromwell Park, Banbury Road, Chipping Norton, Oxfordshire, England, OX7 5SR. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company has incurred a loss for the year of £23,502 (2022: £139,157) and has net liabilities of £157,393 (2022: net liabilities £133,891). The Company is continuing to grow and invest in research and development with the continued support of its investors and considers the cash flows of the Company to be sufficient to ensure the Company remains a going concern.
Based on the above, the Directors are of the opinion that the going concern principle is applicable and that the Company has the necessary resources to continue as a going concern for the foreseeable future.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 4

 
SPECTROMA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably 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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Revenues comprise:
 
1) Invoiced amount of 235,078 EUR (£196,392.59) which is being recognised over the patent life of 25 years
2) Amount received in exchange for shares (379 shares @ SEK 6,200) 229,922 EUR (£191,462.28) which is being recognised over the patent life of 25 years

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
SPECTROMA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
Computer equipment
-
50%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet 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,
Page 6

 
SPECTROMA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

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 receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

2023
2022
£
£

Wages and salaries
7,500
22,000

Social security costs
593
1,430

8,093
23,430


The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 7

 
SPECTROMA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
10,367
4,123
14,490


Additions
-
637
637



At 31 December 2023

10,367
4,760
15,127



Depreciation


At 1 January 2023
2,236
3,297
5,533


Charge for the year on owned assets
2,592
760
3,352



At 31 December 2023

4,828
4,057
8,885



Net book value



At 31 December 2023
5,539
703
6,242



At 31 December 2022
8,131
826
8,957


5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 January 2023
191,462



At 31 December 2023
191,462





6.


Debtors

2023
2022
£
£


Other debtors
1,134
5,772

Prepayments and accrued income
1,015
1,132

Tax recoverable
-
24,114

2,149
31,018


Page 8

 
SPECTROMA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
3,165
11,354



8.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
241
369

Other taxation and social security
18
897

Other creditors
100
-

Accruals and deferred income
360,052
375,416

360,411
376,682



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,000 (2022 - 10,000) Ordinary shares of £0.20 each
2,000
2,000



Page 9