Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-31false2023-01-01No description of principal activity184falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC605559 2023-01-01 2023-12-31 SC605559 2021-08-01 2022-12-31 SC605559 2023-12-31 SC605559 2022-12-31 SC605559 c:Director1 2023-01-01 2023-12-31 SC605559 c:Director2 2023-01-01 2023-12-31 SC605559 c:Director3 2023-01-01 2023-12-31 SC605559 c:Director3 2023-12-31 SC605559 c:Director4 2023-01-01 2023-12-31 SC605559 c:Director4 2023-12-31 SC605559 c:Director5 2023-01-01 2023-12-31 SC605559 c:Director5 2023-12-31 SC605559 c:RegisteredOffice 2023-01-01 2023-12-31 SC605559 d:PlantMachinery 2023-01-01 2023-12-31 SC605559 d:PlantMachinery 2023-12-31 SC605559 d:PlantMachinery 2022-12-31 SC605559 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC605559 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 SC605559 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 SC605559 d:CurrentFinancialInstruments 2023-12-31 SC605559 d:CurrentFinancialInstruments 2022-12-31 SC605559 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC605559 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 SC605559 d:ShareCapital 2023-12-31 SC605559 d:ShareCapital 2022-12-31 SC605559 d:SharePremium 2023-12-31 SC605559 d:SharePremium 2022-12-31 SC605559 d:CapitalRedemptionReserve 2023-12-31 SC605559 d:CapitalRedemptionReserve 2022-12-31 SC605559 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC605559 d:RetainedEarningsAccumulatedLosses 2022-12-31 SC605559 c:OrdinaryShareClass1 2023-01-01 2023-12-31 SC605559 c:OrdinaryShareClass1 2023-12-31 SC605559 c:OrdinaryShareClass1 2022-12-31 SC605559 c:OrdinaryShareClass2 2023-01-01 2023-12-31 SC605559 c:OrdinaryShareClass2 2022-12-31 SC605559 c:OrdinaryShareClass3 2023-01-01 2023-12-31 SC605559 c:OrdinaryShareClass3 2022-12-31 SC605559 c:FRS102 2023-01-01 2023-12-31 SC605559 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC605559 c:FullAccounts 2023-01-01 2023-12-31 SC605559 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC605559 2 2023-01-01 2023-12-31 SC605559 4 2023-01-01 2023-12-31 SC605559 6 2023-01-01 2023-12-31 SC605559 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-01-01 2023-12-31 SC605559 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC605559










EPIGENETICA LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
EPIGENETICA LIMITED
 

COMPANY INFORMATION


DIRECTORS
Sir Henry Aykroyd Bt 
Mark Phillips 
Professor Colin Campbell (appointed 15 January 2024)
David Morgan (appointed 1 January 2023, resigned 28 September 2023)
Christopher Allen (resigned 2 October 2023)




REGISTERED NUMBER
SC605559



REGISTERED OFFICE
12 Hope Street

Edinburgh

EH2 4DB




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
EPIGENETICA LIMITED
REGISTERED NUMBER: SC605559

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Intangible assets
 4 
557,362
619,291

Tangible assets
 5 
22,773
32,336

Investments
 6 
1,000,001
1,000,134

  
1,580,136
1,651,761

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 7 
4,478
39,929

Cash at bank and in hand
  
110
176

  
4,588
40,105

Creditors: amounts falling due within one year
 8 
(331,570)
(2,154,552)

NET CURRENT LIABILITIES
  
 
 
(326,982)
 
 
(2,114,447)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
1,253,154
(462,686)

  

NET ASSETS/(LIABILITIES)
  
1,253,154
(462,686)


CAPITAL AND RESERVES
  

Called up share capital 
 9 
7,915
7,618

Share premium account
  
3,852,510
1,075,262

Capital redemption reserve
  
100
100

Profit and loss account
  
(2,607,371)
(1,545,666)

  
1,253,154
(462,686)


Page 1

 
EPIGENETICA LIMITED
REGISTERED NUMBER: SC605559

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 year 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 1 April 2024.




Sir Henry Aykroyd Bt
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
EPIGENETICA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


GENERAL INFORMATION

The entity is a private Company, limited by shares, registered in Scotland, with the registered office situated at 12 Hope Street, Edinburgh EH2 4DB. The Company's main place of business is The James Hutton Institute, Errol Road, Dundee, DD2 5DA.

2.ACCOUNTING POLICIES

 
2.1

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 following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The accounts have been prepared on a going concern basis.  The company has net liabilities and Epigenetica Limited is dependant on the continuing support of the directors and investors.  It is envisaged that this support will continue for the foreseeable future.

 
2.3

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 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

 
EPIGENETICA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

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.

Where the company claims for research and development tax relief, the benefit is only recognised within the financial statements once the claim has been submitted and approved by HM Revenue & Customs. 

 
2.5

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

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.

 
2.8

EXCEPTIONAL ITEMS

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.9

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. The directors have agreed to amortise the intangible assets over 10 years.

Page 4

 
EPIGENETICA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.10

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance

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.

 
2.11

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 18 (2022 - 4).

Page 5

 
EPIGENETICA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


INTANGIBLE ASSETS




Intellectual Property Rights

£



COST


At 1 January 2023
619,291



At 31 December 2023

619,291



AMORTISATION


Charge for the year on owned assets
61,929



At 31 December 2023

61,929



NET BOOK VALUE



At 31 December 2023
557,362



At 31 December 2022
619,291



Page 6

 
EPIGENETICA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


TANGIBLE FIXED ASSETS





Plant and machinery

£



COST OR VALUATION


At 1 January 2023
63,949


Additions
2,970



At 31 December 2023

66,919



DEPRECIATION


At 1 January 2023
31,613


Charge for the year on owned assets
12,533



At 31 December 2023

44,146



NET BOOK VALUE



At 31 December 2023
22,773



At 31 December 2022
32,336


6.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



COST OR VALUATION


At 1 January 2023
1,000,134


Disposals
(133)



At 31 December 2023
1,000,001






NET BOOK VALUE



At 31 December 2023
1,000,001



At 31 December 2022
1,000,134

Page 7

 
EPIGENETICA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


DEBTORS

2023
2022
£
£


Other debtors
4,478
39,929

4,478
39,929



8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank overdrafts
250,673
55,416

Other loans
-
1,980,000

Trade creditors
14,614
79,206

Amounts owed to group undertakings
63,443
36,760

Other creditors
2,840
3,170

331,570
2,154,552



9.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



79,145 (2022 - 55,380) Ordinary shares of £0.10 each
7,914.50
5,538.00
0 (2022 - 20,000) Ordinary A shares of £0.10 each
-
2,000.00
0 (2022 - 800) Ordinary B shares of £0.10 each
-
80.00

7,914.50

7,618.00


During the period the company issued £23,765 ordinary £0.10 shares.  This resulted in additional income of £2,376.50.  The ordinary A and B shares were cancelled and repaid to shareholders in the year. 


Page 8