Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3111falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falseNo description of principal activitytrue SC726725 2023-01-01 2023-12-31 SC726725 2022-03-18 2022-12-31 SC726725 2023-12-31 SC726725 2022-12-31 SC726725 c:Director1 2023-01-01 2023-12-31 SC726725 c:RegisteredOffice 2023-01-01 2023-12-31 SC726725 d:CurrentFinancialInstruments 2023-12-31 SC726725 d:CurrentFinancialInstruments 2022-12-31 SC726725 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC726725 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 SC726725 d:ShareCapital 2023-12-31 SC726725 d:ShareCapital 2022-12-31 SC726725 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC726725 d:RetainedEarningsAccumulatedLosses 2022-12-31 SC726725 c:OrdinaryShareClass1 2023-01-01 2023-12-31 SC726725 c:OrdinaryShareClass1 2023-12-31 SC726725 c:OrdinaryShareClass1 2022-12-31 SC726725 c:FRS102 2023-01-01 2023-12-31 SC726725 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC726725 c:FullAccounts 2023-01-01 2023-12-31 SC726725 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC726725










BEACTICA THERAPEUTICS UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
BEACTICA THERAPEUTICS UK LIMITED
 

COMPANY INFORMATION


Director
Dr P Kallblad 




Registered number
SC726725



Registered office
C/o EQ Accountants Limited
Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
BEACTICA THERAPEUTICS UK LIMITED
REGISTERED NUMBER: SC726725

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
£
£

  

Current assets
  

Debtors Within One Year
 4 
-
8,918

Cash at bank and in hand
  
6,620
-

  
6,620
8,918

Creditors: amounts falling due within one year
 5 
(4,464)
(8,893)

Net current assets
  
 
 
2,156
 
 
25

Total assets less current liabilities
  
2,156
25

  

Net assets
  
2,156
25


Capital and reserves
  

Called up share capital 
 6 
100
100

Profit and loss account
  
2,056
(75)

  
2,156
25


Page 1

 
BEACTICA THERAPEUTICS UK LIMITED
REGISTERED NUMBER: SC726725

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Dr P Kallblad
Director

Date: 23 August 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
BEACTICA THERAPEUTICS UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Beactica Therapeutics UK Limited is a private company, limited by shares, incorporated in Scotland with registration number SC726725. The registered office is C/o EQ Accountants Limited, Pentland House, Saltire Centre, Glenrothes, KY6 2AH.
The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
BEACTICA THERAPEUTICS UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
BEACTICA THERAPEUTICS UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
-
8,841

Prepayments and accrued income
-
60

Deferred taxation
-
17

-
8,918



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,332
-

Other taxation and social security
482
6,393

Accruals and deferred income
2,650
2,500

4,464
8,893



6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100


Page 5

 
BEACTICA THERAPEUTICS UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Related party transactions

Included within amounts owed by group undertakings is a loan due from Beactica Therapeutics AB of £nil (2022: £8,841). This loan is interest free and has no fixed terms of repayment.


8.


Controlling party

The company's ultimate parent and controlling party is Beactica Therapeutics AB, a company incorporated in Sweden.


Page 6