Registration number:
Ensilicated Technologies Ltd
trading as
for the Year Ended 31 July 2023
Pages for filing with Registrar
Ensilicated Technologies Ltd
trading as EnsiliTech
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Ensilicated Technologies Ltd
trading as EnsiliTech
Company Information
Directors |
Dr A Sartbaeva Dr J M Rogers Mr R Haycock Dr B T Miles Dr A Doekhie Hon A M Fink |
Registered office |
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Registered number |
13537400 |
Accountants |
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Ensilicated Technologies Ltd
trading as EnsiliTech
(Registration number: 13537400)
Balance Sheet as at 31 July 2023
Note |
2023 |
As restated |
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Fixed assets |
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Tangible assets |
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- |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets/(liabilities) |
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( |
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Net assets/(liabilities) |
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( |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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- |
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Profit and loss account |
( |
( |
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Total equity |
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( |
Ensilicated Technologies Ltd
trading as EnsiliTech
(Registration number: 13537400)
Balance Sheet as at 31 July 2023
For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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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 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised for issue by the
.........................................
Director
Ensilicated Technologies Ltd
trading as EnsiliTech
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies
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.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The company's financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. The directors have considered a period of twelve months from the date of approval of the financial statements.
The company is currently loss making while it invests in product development and so the company is reliant on the ongoing support of investors to be able to meet third party liabilities as they fall due. The directors believe that this support will continue to be forthcoming for the forseeable future and so the financial statements have been prepared on a going concern basis.
Government grants
Government grants are recognised, using the accrual model, at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.
Ensilicated Technologies Ltd
trading as EnsiliTech
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
Tangible fixed assets
Tangible assets are stated in the statement of financial position 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 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:
Computer equipment |
50% straight line |
Lab equipment |
20% straight line |
Research and development costs
Research and development costs are written off to profit or loss in the year incurred.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade creditors
Trade creditors are recognised at the transaction price.
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.
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.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.
Ensilicated Technologies Ltd
trading as EnsiliTech
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible fixed assets |
Computer equipment |
Lab equipment |
Total |
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Cost |
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Additions |
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At 31 July 2023 |
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Depreciation |
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Charge for the year |
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At 31 July 2023 |
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Carrying amount |
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At 31 July 2023 |
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At 31 July 2022 |
- |
- |
- |
Debtors: amounts falling due within one year |
2023 |
2022 |
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Prepayments and accrued income |
64,472 |
- |
Other debtors |
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Directors' loan accounts |
5,000 |
- |
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Ensilicated Technologies Ltd
trading as EnsiliTech
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
Creditors |
2023 |
2022 |
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Amounts falling due within one year |
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Trade creditors |
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Accruals |
2,000 |
20,000 |
Directors' loan accounts |
10 |
10 |
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Share capital |
Allotted, called up and fully paid shares
2023 |
As restated |
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No. |
£ |
No. |
£ |
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138.10 |
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100.00 |
During the year 3,810 Ordinary shares were issued for an aggregate consideration of £866,318.
Details of the prior period restatement of share capital are provided in note 11.
Loans and borrowings |
2023 |
2022 |
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Current loans and borrowings |
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Directors' loan accounts |
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Ensilicated Technologies Ltd
trading as EnsiliTech
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
2023 |
2022 |
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- |
Related party transactions |
Transactions with directors |
2023 |
At 1 August 2022 |
Advances to director |
At 31 July 2023 |
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- |
5,000 |
5,000 |
Prior period restatement |
The prior period Balance Sheet has been restated from the figures previously reported as a result of an error. The impact of the restatement is as follows:
• To increase share capital by £25
• To increase other debtors by £25