REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 20 JULY 2022 TO 31 JULY 2023 |
FOR |
POLYNERVE LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 20 JULY 2022 TO 31 JULY 2023 |
FOR |
POLYNERVE LTD |
POLYNERVE LTD (REGISTERED NUMBER: 14246626) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 20 JULY 2022 TO 31 JULY 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
POLYNERVE LTD |
COMPANY INFORMATION |
FOR THE PERIOD 20 JULY 2022 TO 31 JULY 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants and Statutory Auditor |
1 & 2 Mercia Village |
Torwood Close |
Westwood Business Park |
Coventry |
West Midlands |
CV4 8HX |
POLYNERVE LTD (REGISTERED NUMBER: 14246626) |
BALANCE SHEET |
31 JULY 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
POLYNERVE LTD (REGISTERED NUMBER: 14246626) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 20 JULY 2022 TO 31 JULY 2023 |
1. | STATUTORY INFORMATION |
Polynerve Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Going concern |
The company is currently in the product development phase and depends on grants from multiple providers. The director is confident that the company has adequate support and funds to sustain its product development activities. Therefore the financial statements have been prepared on going concern basis due to the company's ability to continue its operation. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
POLYNERVE LTD (REGISTERED NUMBER: 14246626) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 20 JULY 2022 TO 31 JULY 2023 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
Additions |
At 31 July 2023 |
AMORTISATION |
Charge for period |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Other creditors |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is NLC Ventures Netherlands B.V. |
The registered address of the parent is 25 Paasheuvelweg, Amsterdam, Netherlands, 1105 BP. |