REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
FOR |
ENDOCRINE PHARMACEUTICALS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
FOR |
ENDOCRINE PHARMACEUTICALS LIMITED |
ENDOCRINE PHARMACEUTICALS LIMITED (REGISTERED NUMBER: 03005721) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
ENDOCRINE PHARMACEUTICALS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH JUNE 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
19-21 Middle Row |
Stevenage |
Hertfordshire |
SG1 3AW |
BANKERS: |
1 Marsden Street |
Manchester |
M2 1HW |
ENDOCRINE PHARMACEUTICALS LIMITED (REGISTERED NUMBER: 03005721) |
BALANCE SHEET |
30TH JUNE 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 6 | 21,519 | 21,219 |
Share premium | 7 | 2,648,230 | 2,642,530 |
Retained earnings | 7 | (2,759,784 | ) | (2,751,258 | ) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ENDOCRINE PHARMACEUTICALS LIMITED (REGISTERED NUMBER: 03005721) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
1. | STATUTORY INFORMATION |
Endocrine Pharmaceuticals Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. As in past years, the company incurred a loss during the year, which was £8,525. The company is involved in research and development activities and while the company may require financial support from additional investments it is endeavouring to become cash positive via deals with industrial partners and by taking steps to market products direct to potential users. The directors are thus actively seeking further finance. Whilst the directors cannot be certain of future funding, based on progress to date they believe that it is appropriate for these statutory accounts to be prepared on a going concern basis. |
Significant judgements and estimates |
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
Tangible fixed assets |
Plant and machinery | - |
Financial instruments |
The directors consider all financial instruments to be basic financial instruments in accordance with Section 11 of FRS102. All basic financial instruments including trade and other debtors, cash and cash equivalents, and trade and other creditors, are initially recognised at transaction price and thereafter stated at amortised cost. |
Taxation |
Taxation for the year comprises current 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
ENDOCRINE PHARMACEUTICALS LIMITED (REGISTERED NUMBER: 03005721) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1st July 2023 |
and 30th June 2024 |
DEPRECIATION |
At 1st July 2023 |
and 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | 0.001 | 11,709 | 11,409 |
A Ordinary | 0.001 | 9,810 | 9,810 |
21,519 | 21,219 |
During February 2024 the company issued and allotted 300,000 ordinary £0.001 shares at a premium of £0.019 per share. |
7. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1st July 2023 | (2,751,258 | ) | 2,642,530 | (108,728 | ) |
Deficit for the year | ( |
) | ( |
) |
Cash share issue | - | 5,700 | 5,700 |
At 30th June 2024 | (2,759,784 | ) | 2,648,230 | (111,554 | ) |
ENDOCRINE PHARMACEUTICALS LIMITED (REGISTERED NUMBER: 03005721) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
8. | RELATED PARTY DISCLOSURES |
Officers of the company have an option to purchase shares at 2p, further to an EGM of 5 December 2013. The options are available to be exercised on gene validation. There are 3,340,000 share options in all. |
A director's loan by John Hart of £11,625. is interest free. Repayment of this loan will not be sought in the financial year to 30th June 2025, unless funds permit, at the discretion of the Board. John Hart's subsidisation of the company over many years via provision of office and extensive archive facilities in Hampshire is acknowledged, as is the maintenance of a duplicate archive in Cheshire by shareholding scientist Dr Dave Copsey. |
Aggregate Company Secretary fees amounting to £80,950 have been accrued to date but will only be paid at the discretion of the Board, funds permitting. |