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NEUMEDIX MEDICAL EUROPE LIMITED




Company Registration Number:
05302702 (England and Wales)



Report of the Directors and Unaudited Financial Statements



Period of accounts


Start date: 13th December 2008

End date: 12th December 2009

SUBMITTED

NEUMEDIX MEDICAL EUROPE LIMITED

Contents of the Financial Statements
for the Period Ended
12th December 2009

Company Information
Report of the Directors
Profit and Loss Account
Balance sheet
Notes to the Financial Statements

NEUMEDIX MEDICAL EUROPE LIMITED

Company Information
for the Period Ended
12th December 2009




Director: Anthony James Dickson
Adrian John Compton
Andrew James Robertson
Company secretary: Anthony James Dickson
Registered office: 68 Harley Street
London
W1G 7HE
Company Registration Number: 05302702 (England and Wales)

NEUMEDIX MEDICAL EUROPE LIMITED

Directors’ Report Period Ended 12th December 2009

The directors present their report with the financial statements of the company for the period ended 12th December 2009

Principal activities
The principal activity of the company in the period under review was:
Commercialising intellectual property.

Directors
The directors shown below have held office during the whole of the period from
13th December 2008 to 12th December 2009
Anthony James Dickson

The director(s) shown below were appointed to the company during the period
Adrian John Compton on 12 April 2010

The director(s) shown below resigned during the period
Andrew James Robertson on 12 April 2010

Political and charitable donations
No donations were made by the company during the year.

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on 02 February 2010
And Signed On Behalf Of The Board By:

Name: Anthony James Dickson
Status: Director

NEUMEDIX MEDICAL EUROPE LIMITED

Profit and Loss Account

for the Period Ended 12th December 2009

Notes 2009
£
2008
£
Turnover: 0 0
Cost of sales: 0 0
Gross profit or (loss): 0 0
Distribution costs: 4,071,799 55,115,035
Operating profit or (loss): ( 4,071,799 ) ( 55,115,035 )
Interest payable and similar charges: 477,914 449,865
Profit or (loss) on ordinary activities before taxation: ( 4,549,713 ) ( 55,564,900 )
Profit or (loss) for the financial year: ( 4,549,713 ) ( 55,564,900 )

The notes form part of these financial statements

NEUMEDIX MEDICAL EUROPE LIMITED

Statement of total recognised gains and losses
12th December 2009

Statement of total recognised gains and losses

2009
£
2008
£
Profit or (loss) for the period: ( 4,549,713 ) ( 55,564,900 )
Total recognised gains and losses for the period: ( 4,549,713 ) ( 55,564,900 )

NEUMEDIX MEDICAL EUROPE LIMITED

Balance sheet
As at 12th December 2009

Notes 2009
£
2008
£
Fixed assets
Tangible assets: 0 3,111,799
Total fixed assets: 0 3,111,799
Current assets
Cash at bank and in hand: 0 100
Total current assets: 0 100
Creditors
Creditors: amounts falling due within one year 0 0
Net current assets (liabilities): 0 100
Total assets less current liabilities: 0 3,111,899
Creditors: amounts falling due after more than one year: 25,885,501 24,447,587
Provision for liabilities: 0
Total net assets (liabilities): ( 25,885,501 ) ( 21,335,688 )

The notes form part of these financial statements

NEUMEDIX MEDICAL EUROPE LIMITED

Balance sheet
As at 12th December 2009
continued

Notes 2009
£
2008
£
Capital and reserves
Called up share capital: 2 100 100
Revaluation reserve: 0 0
Profit and Loss account: ( 25,885,601 ) ( 21,335,788 )
Total shareholders funds: ( 25,885,501 ) ( 21,335,688 )

For the year ending 12 December 2009 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 02 February 2010

SIGNED ON BEHALF OF THE BOARD BY:

Name: Anthony James Dickson
Status: Director

The notes form part of these financial statements

NEUMEDIX MEDICAL EUROPE LIMITED

Notes to the Financial Statements
for the Period Ended
12th December 2009

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    Reporting Entity The financial statements of NeuMedix Medical Europe Limited have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with all relevant accounting standards and legislation. Specific Accounting Policies The following specific accounting policies which materially affect the measurement of financial performance and financial position have been applied: Accounts receivable are stated at their estimated realisable value. Property, plant and equipment are stated at cost aggregate depreciation. Taxation expense charged against the operating surplus for the period is the estimated total tax for the period. Changes in Accounting Policies There have been no changes in accounting policies. All policies have been applied on bases consistent with those used in previous years.

    Turnover policy

    Turnover attributable to geographical markets outside of the United Kingdom amounted to 0%.

    Tangible fixed assets depreciation policy

    . Tangible Fixed Assets Cost Accumulated 2009 £ Depreciation £ Book value £ Medical Prototypes Equipment 27,555 27,555 0 £27,555 £27,555 0 2008 2009 £ £ 4. Intangible Fixed Assets Cost 249,560,287 250,520,287 Amorti Cost Accumulated 2009 £ Depreciation £ Book value £ Medical Prototypes Equipment 27,555 27,555 0 £27,555 £27,555 0 2008 2009 £ £ 4. Intangible Fixed Assets Cost 249,560,287 250,520,287 Amortisation accumulated (246,448,488) (250,520,287) Net Book Value-as at 31 December £3,111,799 0 . Tangible Fixed Assets Cost Accumulated 2009 £ Depreciation £ Book value £ Medical Prototypes Equipment 27,555 27,555 0 £27,555 £27,555 0 2008 2009 £ £ 4. Intangible Fixed Assets Cost 249,560,287 250,520,287 Amortisation accumulated (246,448,488) (250,520,287) Net Book Value-as at 31 December £3,111,799 0

  • 2. Called up share capital

    Allotted, called up and paid

    Previous period 2008
    Class Number of shares Nominal value per share Total
    Ordinary shares: 100 1 100
    Preference shares: 0 0 0
    Total share capital: 100
    Current period 2009
    Class Number of shares Nominal value per share Total
    Ordinary shares: 100 1 100
    Total share capital: 100