Registration number:
Carbometrics Limited
for the Year Ended 31 July 2023
Pages for filing with Registrar
Carbometrics Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Carbometrics Limited
Company Information
Directors |
K J MacDonald Dr A Chapman Dr H S Destecroix Dr C M Jones |
Registered office |
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Registered number |
11444598 |
Accountants |
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Carbometrics Limited
(Registration number: 11444598)
Balance Sheet as at 31 July 2023
Note |
2023 |
2022 |
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Fixed assets |
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Intangible assets |
38,621 |
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Tangible assets |
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Investments |
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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 |
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Net assets |
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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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Profit and loss account |
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Total equity |
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Carbometrics Limited
(Registration number: 11444598)
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
Carbometrics Limited
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 accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future. The directors have indicated their willingness to continue to support the company and accordingly the accounts have been prepared on the basis that the company is a going concern.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Carbometrics Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
Foreign currency transactions and balances
the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are
retranslated into the respective functional currency of the entity at the rates prevailing on the
reporting period date.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Foreign exchange gains and losses are taken to profit or loss and classified within Administrative
expenses.
Tax
The tax income or expense for the period comprises current and deferred tax including research and development tax credits claimed. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
Tangible fixed assets
Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation.
The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Plant and machinery |
Straight line over 4 years |
Furniture and Fittings |
Straight line over 10 years |
Computer equipment |
Straight line over 3 years |
Intangible fixed assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Patents |
Straight line over 15 years |
Carbometrics Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
Research and development costs
Research and development costs are written off to profit or loss in the year incurred.
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
Trade debtors are recognised initially at the transaction price. They are subsequently measured less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Carbometrics Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Intangible fixed assets |
Trademarks, patents and licenses |
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Cost |
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At 1 August 2022 |
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At 31 July 2023 |
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Amortisation |
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At 1 August 2022 |
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Amortisation charge |
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At 31 July 2023 |
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Carrying amount |
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At 31 July 2023 |
38,621 |
At 31 July 2022 |
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Carbometrics Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
Tangible fixed assets |
Plant and machinery |
Furniture and fittings |
Computer equipment |
Total |
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Cost |
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At 1 August 2022 |
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Additions |
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At 31 July 2023 |
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Depreciation |
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At 1 August 2022 |
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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 |
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Investments |
2023 |
2022 |
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Investments |
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The investment represents a holding of 3.92% of the issued share capital of Emenda Therapeutics Limited, being 1,143 shares.
Carbometrics Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
Debtors: amounts falling due within one year |
2023 |
2022 |
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Trade debtors |
- |
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Other debtors |
16,072 |
13,867 |
VAT |
2,964 |
1,964 |
Prepayments |
5,185 |
4,752 |
Corporation tax R&D credit |
59,105 |
392,174 |
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Creditors |
2023 |
2022 |
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Trade creditors |
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Social security and other taxes |
10,342 |
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Other creditors |
9,020 |
45,910 |
Accruals and deferred income |
145,750 |
130,350 |
Directors' loan accounts |
5,156 |
- |
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Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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100.28 |
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100.28 |
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53.89 |
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53.89 |
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57.09 |
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During the year, 5,709 Preferred Ordinary shares were issued for a total aggregate consideration of £4,141,423.
Carbometrics Limited
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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The amount of non-cancellable operating lease payments recognised as an expense during the year was £
Post balance sheet event |
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