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Registered number: 06838431
Bioxydyn Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Integral Finance Limited
BioHub at Alderley Park
Alderley Park
Alderley Edge
SK10 4TG
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06838431
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,000,000 1,000,000
Tangible Assets 5 4,475 13,873
1,004,475 1,013,873
CURRENT ASSETS
Debtors 6 209,845 100,489
Cash at bank and in hand 47,967 7,301
257,812 107,790
Creditors: Amounts Falling Due Within One Year 7 (354,929 ) (306,428 )
NET CURRENT ASSETS (LIABILITIES) (97,117 ) (198,638 )
TOTAL ASSETS LESS CURRENT LIABILITIES 907,358 815,235
Creditors: Amounts Falling Due After More Than One Year 8 (200,151 ) (221,574 )
NET ASSETS 707,207 593,661
CAPITAL AND RESERVES
Called up share capital 9 1,633 1,633
Share premium account 3,240,162 3,240,162
Profit and Loss Account (2,534,588 ) (2,648,134 )
SHAREHOLDERS' FUNDS 707,207 593,661
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Professor Geoffrey Parker
Director
18 March 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Bioxydyn Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06838431 . The registered office is St James Tower, 7 Charlotte Street, Manchester, M1 4DZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Research and Development
Expenditure on research and development is written off in the year it is incurred, except where the directors are satisfied that development expenditure incurred on an individual project is carried forward as permitted by FRS102, when its future recoverability can be regarded as assured. The expenditure carried forward is treated as an intangible fixed asset and amortised as to match the expenditure with the anticipated sales from the related project. Provision is made for an impairment.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, using the straight-line method over their expected useful lives on the following bases:
Fixtures & Fittings 4 years
Computer Equipment 4 years
2.6. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2022: 8)
8 8
4. Intangible Assets
Development Costs
£
Cost
As at 1 December 2022 2,252,038
Additions -
As at 30 November 2023 2,252,038
Amortisation
As at 1 December 2022 1,252,038
Impairment losses -
As at 30 November 2023 1,252,038
Net Book Value
As at 30 November 2023 1,000,000
As at 1 December 2022 1,000,000
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5. Tangible Assets
Computer Equipment
£
Cost
As at 1 December 2022 35,313
Disposals (6,500 )
As at 30 November 2023 28,813
Depreciation
As at 1 December 2022 21,440
Provided during the period 2,898
As at 30 November 2023 24,338
Net Book Value
As at 30 November 2023 4,475
As at 1 December 2022 13,873
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 82,939 47,882
Prepayments and accrued income 126,186 23,989
Corporation tax recoverable assets - 25,002
VAT - 3,616
209,125 100,489
Due after more than one year
Other debtors 720 -
720 -
209,845 100,489
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 55,310 15,135
Bank loans and overdrafts 3,045 2,798
Other taxes and social security 23,339 17,440
VAT 8,464 -
Net wages - 795
Other creditors 5,897 6,729
Accruals and deferred income 258,874 263,531
354,929 306,428
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8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 8,829 11,872
Other creditors 191,322 209,702
200,151 221,574
9. Share Capital
2023 2022
Allotted, called up and fully paid £ £
163,251 Ordinary Shares of £ 0.01 each 1,633 1,633
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