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REGISTERED NUMBER: 14246626 (England and Wales)















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: T Alon





REGISTERED OFFICE: C/o Innovation Factory Core Technology
Facility
46 Grafton Street
Manchester
M13 9NT





REGISTERED NUMBER: 14246626 (England and Wales)





AUDITORS: Armstrongs Accountancy Ltd
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 30

CURRENT ASSETS
Debtors 5 12,648
Cash at bank 21,432
34,080
CREDITORS
Amounts falling due within one year 6 22,191
NET CURRENT ASSETS 11,889
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,919

CREDITORS
Amounts falling due after more than one
year

7

89,929
NET LIABILITIES (78,010 )

CAPITAL AND RESERVES
Called up share capital 77
Retained earnings (78,087 )
(78,010 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 6 April 2024 and were signed by:





T Alon - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Patents and licences are being amortised evenly over their estimated useful life of three years.

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 1 .

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 46
At 31 July 2023 46
AMORTISATION
Charge for period 16
At 31 July 2023 16
NET BOOK VALUE
At 31 July 2023 30

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Amounts owed by group undertakings 1,478
Other debtors 11,170
12,648

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 14,441
Other creditors 7,750
22,191

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Other creditors 89,929

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Muhammed Shabbir (Senior Statutory Auditor)
for and on behalf of Armstrongs Accountancy Ltd

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.