Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false72023-01-01falseResearch and experimental development on biotechnology4truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12443293 2023-01-01 2023-12-31 12443293 2022-01-01 2022-12-31 12443293 2023-12-31 12443293 2022-12-31 12443293 c:Director2 2023-01-01 2023-12-31 12443293 d:PlantMachinery 2023-01-01 2023-12-31 12443293 d:PlantMachinery 2023-12-31 12443293 d:PlantMachinery 2022-12-31 12443293 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12443293 d:OfficeEquipment 2023-01-01 2023-12-31 12443293 d:OfficeEquipment 2023-12-31 12443293 d:OfficeEquipment 2022-12-31 12443293 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12443293 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12443293 d:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 12443293 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 12443293 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 12443293 d:CurrentFinancialInstruments 2023-12-31 12443293 d:CurrentFinancialInstruments 2022-12-31 12443293 d:Non-currentFinancialInstruments 2023-12-31 12443293 d:Non-currentFinancialInstruments 2022-12-31 12443293 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12443293 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12443293 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 12443293 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 12443293 d:ShareCapital 2023-12-31 12443293 d:ShareCapital 2022-12-31 12443293 d:RetainedEarningsAccumulatedLosses 2023-12-31 12443293 d:RetainedEarningsAccumulatedLosses 2022-12-31 12443293 c:FRS102 2023-01-01 2023-12-31 12443293 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12443293 c:FullAccounts 2023-01-01 2023-12-31 12443293 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12443293 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-01-01 2023-12-31 12443293 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 12443293










ONYA THERAPEUTICS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023



 
ONYA THERAPEUTICS LIMITED
REGISTERED NUMBER: 12443293

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
43,750
46,875

Tangible assets
 5 
14,229
7,196

  
57,979
54,071

Current assets
  

Debtors: amounts falling due within one year
 6 
70,375
77,155

Cash at bank and in hand
  
41,503
93,927

  
111,878
171,082

Creditors: amounts falling due within one year
 7 
(74,887)
(734,659)

Net current assets/(liabilities)
  
 
 
36,991
 
 
(563,577)

Total assets less current liabilities
  
94,970
(509,506)

Creditors: amounts falling due after more than one year
  
(1,126,682)
-

  

Net liabilities
  
(1,031,712)
(509,506)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(1,031,714)
(509,508)

  
(1,031,712)
(509,506)


Page 1

 
ONYA THERAPEUTICS LIMITED
REGISTERED NUMBER: 12443293
    
STATEMENT OF FINANCIAL POSITION (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 period 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 income and retained earnings 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 on 10 April 2024.




T C Hafner
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
ONYA THERAPEUTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.Accounting policies

 
1.1

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.



The following principal accounting policies have been applied:

 
1.2

Going concern

At the balance sheet date, the Company had net current assets/(liabilities) of £94,970 (2022: £563,577) and retained losses of £1,031,712 (2022: £509,508). The directors and group have pledged to continue to financially support the company for the foreseeable future. On this basis, the directors feel it is appropriate to prepare these financial statements on a going concern basis.

 
1.3

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
ONYA THERAPEUTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
1.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
1.6

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 reporting date in the countries where the Company operates and generates income.

 
1.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Patents
-
16
years

Page 4

 
ONYA THERAPEUTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.8

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.

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:

Plant and machinery
-
15%
straight line
Office equipment
-
25%
straight line

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.

 
1.9

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.

 
1.10

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.

 
1.11

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.

Page 5

 
ONYA THERAPEUTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.12

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 Statement of financial position 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, 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.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 6

 
ONYA THERAPEUTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.


General information

Onya Therapeutics Limited is a private company, limited by shares and registered in Wales.
Its registered number is: 12443293
Its registered office is:
Units G-H, Roseheyworth Business Park,
Abertillery,
Gwent,
NP13 1SX


3.


Employees

2023
£

Wages and salaries
128,472

Social security costs
14,185

Cost of defined contribution scheme
6,424

149,081


The average monthly number of employees, including directors, during the period was 7 (2022 - 4).

Page 7

 
ONYA THERAPEUTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

4.


Intangible assets




Patents

£



Cost


At 1 January 2023
50,000



At 31 December 2023

50,000



Amortisation


At 1 January 2023
3,125


Charge for the period on owned assets
3,125



At 31 December 2023

6,250



Net book value



At 31 December 2023
43,750



At 31 December 2022
46,875



Page 8

 
ONYA THERAPEUTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
7,349
-
7,349


Additions
6,048
3,206
9,254



At 31 December 2023

13,397
3,206
16,603



Depreciation


At 1 January 2023
153
-
153


Charge for the period on owned assets
1,753
468
2,221



At 31 December 2023

1,906
468
2,374



Net book value



At 31 December 2023
11,491
2,738
14,229



At 31 December 2022
7,196
-
7,196


6.


Debtors

2023
2022
£
£


Other debtors
68,760
76,677

Prepayments and accrued income
1,615
478

70,375
77,155


Page 9

 
ONYA THERAPEUTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
17,115
39,255

Amounts owed to connected companies
-
286,157

Other taxation and social security
4,135
3,661

Other creditors
955
400,800

Accruals and deferred income
52,682
4,786

74,887
734,659



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Amounts owed to connected companies
285,185
-

Amounts owed to parent company
61,700
-

Other creditors
779,797
-

1,126,682
-



9.


Pension commitments

The Company operates a defined contributions 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 £6,424 (2022: £4,145).


10.


Controlling party

The ultimate parent undertaking at the year end was CTL Familienstiftung, a Trust registered in Liechtenstein, their registered office is Feldkircher Strasse 15, 9494 Schaan, Liechtenstein.
The ultimate beneficial owner is Dr H Schwärzler.

 
Page 10