MOLECULAR SYNTHETICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Molecular Synthetics Limited is a private company limited by shares and incorporated in England and
Wales. The address of the registered office is Salisbury House, Station Road, Cambridge, CB1 2LA. The
company has no permanent trading premises.
The Company's functional and presentational currency is GBP and the figures are rounded to the nearest
pound.
2.ACCOUNTING POLICIES
|
|
BASIS OF PREPARATION OF FINANCIAL STATEMENTS
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
In common with other development stage companies, the company has incurred a loss for the year
and has net liabilities at the year end. The company has received assurances from the directors that
they will continue to provide ongoing financial support to the company, and consequently the
accounts are prepared on the going concern basis.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
|
The average monthly number of employees, including the directors, during the year was as follows:
|
|