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REGISTERED NUMBER: 10521383 (England and Wales)




















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

RNA ANALYTICS LIMITED

RNA ANALYTICS LIMITED (REGISTERED NUMBER: 10521383)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RNA ANALYTICS LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTOR: H K Kim





REGISTERED OFFICE: Ground Floor, Bancroft Place
10 Bancroft Road
Reigate
Surrey
RH2 7RP





REGISTERED NUMBER: 10521383 (England and Wales)





AUDITORS: Xeinadin Audit Ltd
12 Conqueror Ct
Sittingbourne
Kent
ME10 5BH

RNA ANALYTICS LIMITED (REGISTERED NUMBER: 10521383)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,680,988 2,186,169
Tangible assets 5 11,037 19,545
2,692,025 2,205,714

CURRENT ASSETS
Stocks 67,805 65,388
Debtors 6 4,049,391 3,967,563
Cash at bank 1,944,291 1,699,893
6,061,487 5,732,844
CREDITORS
Amounts falling due within one year 7 2,931,712 2,784,662
NET CURRENT ASSETS 3,129,775 2,948,182
TOTAL ASSETS LESS CURRENT LIABILITIES 5,821,800 5,153,896

PROVISIONS FOR LIABILITIES 2,030 3,646
NET ASSETS 5,819,770 5,150,250

CAPITAL AND RESERVES
Called up share capital 3,389,761 3,389,761
Retained earnings 2,430,009 1,760,489
5,819,770 5,150,250

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 16 May 2024 and were signed by:





H K Kim - Director


RNA ANALYTICS LIMITED (REGISTERED NUMBER: 10521383)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Rna Analytics Limited 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 nil years.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

RNA ANALYTICS LIMITED (REGISTERED NUMBER: 10521383)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 7,642,466
Additions 1,336,340
At 31 December 2023 8,978,806
AMORTISATION
At 1 January 2023 5,456,297
Charge for year 841,521
At 31 December 2023 6,297,818
NET BOOK VALUE
At 31 December 2023 2,680,988
At 31 December 2022 2,186,169

RNA ANALYTICS LIMITED (REGISTERED NUMBER: 10521383)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 108,187
Additions 8,599
Disposals (1,040 )
At 31 December 2023 115,746
DEPRECIATION
At 1 January 2023 88,642
Charge for year 16,973
Eliminated on disposal (906 )
At 31 December 2023 104,709
NET BOOK VALUE
At 31 December 2023 11,037
At 31 December 2022 19,545

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 2,357,988 760,552
Amounts owed by group undertakings 1,040,835 2,465,120
Other debtors 650,568 741,891
4,049,391 3,967,563

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 137,338 57,803
Taxation and social security 93,201 90,403
Other creditors 2,701,173 2,636,456
2,931,712 2,784,662

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

The Report of the Auditors was unqualified.

Nicholas Hume FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Ltd

RNA ANALYTICS LIMITED (REGISTERED NUMBER: 10521383)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


9. RELATED PARTY DISCLOSURES

Loans to Related Parties

At the year end, the company was owed £801,543 (2022; £1,121,244) by the parent company, RNA Analytics co. Ltd.

At the year end, the company was owed £239,290 (2022; £51,716) by an entity under common control.

Transactions with related parties

During the year, the company made sales of £61,201 (2022; £57,772) to companies with significant influence. At the year end, £716,751 (2022; £655,550) of this was outstanding.

During the year, the company made sales of £188,847 (2022; £36,093) to companies under common control. At the year end, £345,479 (2022; £166,083) of this was outstanding.

During the year, the company made sales of £212,175 (2022; £117,692) to the parent company. At the year end, £557,379 (2022; £345,204) of this was outstanding.

10. ULTIMATE CONTROLLING PARTY

The company's immediate parent is RNA Analytics Co, Ltd, incorporated in South Korea.