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REGISTERED NUMBER: 06704604 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BIOCOPEA LTD

BIOCOPEA LTD (REGISTERED NUMBER: 06704604)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BIOCOPEA LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: G Stoloff
Dr R Bannister
J Brew
R J Huston
K R Duncan





SECRETARY: Beach Secretaries Limited





REGISTERED OFFICE: The Walbrook Building
25 Walbrook
London
United Kingdom
EC4N 8AF





REGISTERED NUMBER: 06704604 (England and Wales)





ACCOUNTANTS: TC Group
Baird House
Seebeck Place
Knowlhill
Milton Keynes
Buckinghamshire
MK5 8FR

BIOCOPEA LTD (REGISTERED NUMBER: 06704604)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Investments 5 3,758,765 3,758,777
3,758,765 3,758,777

CURRENT ASSETS
Debtors 6 1,076,854 99,413
Cash at bank 1,562 28,798
1,078,416 128,211
CREDITORS
Amounts falling due within one year 7 5,753 2,543
NET CURRENT ASSETS 1,072,663 125,668
TOTAL ASSETS LESS CURRENT LIABILITIES 4,831,428 3,884,445

CAPITAL AND RESERVES
Called up share capital 8 93 53
Share premium 2,678,078 2,678,078
Capital redemption reserve 12 -
Retained earnings 2,153,245 1,206,314
SHAREHOLDERS' FUNDS 4,831,428 3,884,445

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

Approved on behalf of the Board of Directors and authorised for issue on 3 September 2024 and were signed on its behalf by:



G Stoloff - Director


BIOCOPEA LTD (REGISTERED NUMBER: 06704604)

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


1. STATUTORY INFORMATION

Biocopea Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and have also been consistently applied within the same accounts.

Turnover
Turnover represents net invoiced sales of goods, services and intellectual property, excluding value added tax.

Patents and licences
Expenditure on acquiring patents and licences are treated as an intangible fixed asset then amortised over their estimated economic lives. Amortisation will commence with the commencement of application of the intangible asset.Provision is made for any impairment.

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are measured at cost less impairment.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred, except where the development expenditure incurred on an individual project is carried forward when its future recoverability can reasonably be regarded as assured.

BIOCOPEA LTD (REGISTERED NUMBER: 06704604)

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


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company makes contributions to employee pension schemes. Contributions payable in the year are charged in the profit and loss account.

Going concern
The accounts have been prepared on a going concern basis despite the company's current lack of income streams as the company's ultimate parent company Peptcell Limited, will continue to provide future funding, sufficient to enable the company to meet its expenditure requirements and commitments as and when they fall due, for at least the next 12 months.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 January 2023
and 31 December 2023 5,085
AMORTISATION
At 1 January 2023
and 31 December 2023 5,085
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. FIXED ASSET INVESTMENTS
Shares in Interest
group in
undertakings associate Totals
£    £    £   
COST
At 1 January 2023 683,494 3,075,283 3,758,777
Disposals (12 ) - (12 )
At 31 December 2023 683,482 3,075,283 3,758,765
NET BOOK VALUE
At 31 December 2023 683,482 3,075,283 3,758,765
At 31 December 2022 683,494 3,075,283 3,758,777

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries


BIOCOPEA LTD (REGISTERED NUMBER: 06704604)

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


5. FIXED ASSET INVESTMENTS - continued

Health Clinics Limited
Registered office: The Walbrook Building, 25 Walbrook, London, EC4N 8AF
Nature of business: Health clinic
%
Class of shares: holding
Ordinary B shares of 0.000001p 51.16
2023 2022
£    £   
Aggregate capital and reserves (681,375 ) (129,368 )
Loss for the year (552,507 ) (3,084,780 )

TRX Biosciences Limited
Registered office: The Walbrook Building, 25 Walbrook, London, England, EC4N 8AF
Nature of business: Drug biodistribution technologies
%
Class of shares: holding
Ordinary 66.99
2023 2022
£    £   
Aggregate capital and reserves 285,442 500,099
Loss for the year (203,162 ) (380,023 )

Infirst (UK Holdings) Limited
Registered office: The Walbrook Building, 25 Walbrook, London, England, EC4N 8AF
Nature of business: Development of novel medicines and IP
%
Class of shares: holding
Ordinary B 68.04
2023 2022
£    £   
Aggregate capital and reserves 199,270 1,992,720

Associated company

CompanyClass of Share% Holding
Flarin Holdings LimitedOrdinary B of £0.0114.15%



The registered address of Flarin Holdings Limited is Central Point, 45 Beech Street, London,EC2Y 8AD

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 968,151 95,359
Other debtors 108,703 4,054
1,076,854 99,413

BIOCOPEA LTD (REGISTERED NUMBER: 06704604)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3 43
Other creditors 5,750 2,500
5,753 2,543

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
3,750 A Ordinary £0.01 38 38
1,514 Ordinary £0.01 15 15
401,993 T Shares £0.01 40 -
93 53

9. RELATED PARTY DISCLOSURES

At the balance sheet date Infirst Healthcare Ltd the subsidiary undertaking of Infirst (UK Holdings) Limited, owed the company £120,832 (2022: £95,359l).

At the balance sheet date the company was owed £847,319 (£2022 £nil) from its parent company Peptcell Limited.