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Registration number: 13452468

Nisha Cell Therapeutics Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Nisha Cell Therapeutics Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Nisha Cell Therapeutics Limited

Company Information

Directors

B Sadeghi

S Moatazedi

Registered office

590 Green Lanes
London
N13 5RY

Accountants

Thomas Alexander & Co Ltd
590 Green Lanes
Palmers Green
London
N13 5RY

 

Nisha Cell Therapeutics Limited

(Registration number: 13452468)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

11,933

-

Tangible assets

5

1,186

-

 

13,119

-

Current assets

 

Cash at bank and in hand

 

210,621

148,361

Creditors: Amounts falling due within one year

7

(37,843)

(37,920)

Net current assets

 

172,778

110,441

Net assets

 

185,897

110,441

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

185,797

110,341

Shareholders' funds

 

185,897

110,441

For the financial year ending 30 June 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.

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.

Approved and authorised by the Board on 18 March 2024 and signed on its behalf by:
 

.........................................
B Sadeghi
Director

 

Nisha Cell Therapeutics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
590 Green Lanes
London
N13 5RY

These financial statements were authorised for issue by the Board on 18 March 2024.

2

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 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 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.

Going concern

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 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.

 

Nisha Cell Therapeutics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

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.

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

20% Reducing balance method

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patent

Over 5 years

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 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.

Borrowings

 

Nisha Cell Therapeutics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Nisha Cell Therapeutics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

Additions acquired separately

14,916

14,916

At 30 June 2023

14,916

14,916

Amortisation

Amortisation charge

2,983

2,983

At 30 June 2023

2,983

2,983

Carrying amount

At 30 June 2023

11,933

11,933

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

1,482

1,482

At 30 June 2023

1,482

1,482

Depreciation

Charge for the year

296

296

At 30 June 2023

296

296

Carrying amount

At 30 June 2023

1,186

1,186

6

Debtors

Current

2023
£

2022
£

7

Creditors

Creditors: amounts falling due within one year

 

Nisha Cell Therapeutics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

2023
£

2022
£

Due within one year

Accruals and deferred income

3,000

3,000

Taxation and social security

-

271

Corporation tax liability

19,196

25,883

Director loan account

15,647

8,766

37,843

37,920

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

18,000

7,500