REGISTERED NUMBER: |
Report of the Director and |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
SKM LIFE SCIENCES LIMITED |
REGISTERED NUMBER: |
Report of the Director and |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
SKM LIFE SCIENCES LIMITED |
SKM LIFE SCIENCES LIMITED (REGISTERED NUMBER: 10123245) |
Contents of the Financial Statements |
for the year ended 30 April 2024 |
Page |
Company Information | 1 |
Report of the Director | 2 |
Chartered Accountants' Report | 3 |
Income Statement | 4 |
Balance Sheet | 5 |
Statement of Changes in Equity | 6 |
Notes to the Financial Statements | 7 |
SKM LIFE SCIENCES LIMITED |
Company Information |
for the year ended 30 April 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
11 Laura Place |
Bath |
BA2 4BL |
SKM LIFE SCIENCES LIMITED (REGISTERED NUMBER: 10123245) |
Report of the Director |
for the year ended 30 April 2024 |
The director presents his report with the financial statements of the company for the year ended 30 April 2024. |
DIRECTOR |
STATEMENT OF DIRECTOR'S RESPONSIBILITIES |
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations. |
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
SKM Life Sciences Limited |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SKM Life Sciences Limited for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of SKM Life Sciences Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SKM Life Sciences Limited and state those matters that we have agreed to state to the director of SKM Life Sciences Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SKM Life Sciences Limited and its director for our work or for this report. |
It is your duty to ensure that SKM Life Sciences Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of SKM Life Sciences Limited. You consider that SKM Life Sciences Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of SKM Life Sciences Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
11 Laura Place |
Bath |
BA2 4BL |
SKM LIFE SCIENCES LIMITED (REGISTERED NUMBER: 10123245) |
Income Statement |
for the year ended 30 April 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER |
Administrative expenses |
OPERATING LOSS | ( |
) | ( |
) |
Interest receivable and similar income |
LOSS BEFORE TAXATION | ( |
) | ( |
) |
Tax on loss | 4 |
LOSS FOR THE FINANCIAL YEAR | ( |
) | ( |
) |
SKM LIFE SCIENCES LIMITED (REGISTERED NUMBER: 10123245) |
Balance Sheet |
30 April 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the director and authorised for issue on |
SKM LIFE SCIENCES LIMITED (REGISTERED NUMBER: 10123245) |
Statement of Changes in Equity |
for the year ended 30 April 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 May 2022 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 30 April 2023 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 30 April 2024 |
SKM LIFE SCIENCES LIMITED (REGISTERED NUMBER: 10123245) |
Notes to the Financial Statements |
for the year ended 30 April 2024 |
1. | STATUTORY INFORMATION |
SKM Life Sciences Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Critical accounting judgements and key sources of estimation uncertainty |
No significant judgements or key assumptions have had to be made by the directors in preparing |
these financial statements. |
Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. Revenue is recognised when services are rendered. |
Tangible fixed assets |
Computer equipment | - |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss. |
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract. |
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date. |
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously |
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. |
SKM LIFE SCIENCES LIMITED (REGISTERED NUMBER: 10123245) |
Notes to the Financial Statements - continued |
for the year ended 30 April 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Exchange differences are taken into account in arriving at the operating result. |
Unlisted fixed asset investments |
The Unlisted Investment is valued at the cost minus impairment. |
Leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TAXATION |
Analysis of the tax charge |
No liability to UK corporation tax arose for the year ended 30 April 2024 nor for the year ended 30 April 2023. |
5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
and 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
SKM LIFE SCIENCES LIMITED (REGISTERED NUMBER: 10123245) |
Notes to the Financial Statements - continued |
for the year ended 30 April 2024 |
6. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
Additions |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |