Registration number:
Halo Therapeutics Ltd
for the Year Ended 31 December 2023
Pages for filing with Registrar
Halo Therapeutics Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Halo Therapeutics Ltd
Company Information
Directors |
Dr P Pack Prof C Berger-Schaffitzel Dr D Fitzgerald Prof I Berger |
Registered office |
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Registered number |
13079698 |
Accountants |
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Halo Therapeutics Ltd
(Registration number: 13079698)
Balance Sheet as at 31 December 2023
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2022 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
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Total equity |
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Halo Therapeutics Ltd
(Registration number: 13079698)
Balance Sheet as at 31 December 2023
For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised for issue by the
.........................................
Director
Halo Therapeutics Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The company's continued investment in research and development has resulted in a loss for the year.
The directors have made an assessment and have reasonable expectation that the company has adequate resources to meet their liabilities as they fall due over the next 12 months. As a result of this they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Halo Therapeutics Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income 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 taxable income.
Intangible fixed assets
Patents are recognised at fair value at the acquisition date.
Patents have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses. Amortisation will be charged once the patent is in use.
Tangible fixed assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Plant and machinery |
over 3 years |
Research and development costs
Research and development costs are written off to profit or loss in the year incurred.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade creditors
Trade creditors are recognised at the transaction price.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Halo Therapeutics Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Intangible fixed assets |
Patents |
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Cost |
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At 1 January 2023 |
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Additions |
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At 31 December 2023 |
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Amortisation |
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At 1 January 2023 |
- |
At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Tangible fixed assets |
Plant and machinery |
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Cost |
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At 1 January 2023 |
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At 31 December 2023 |
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Depreciation |
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At 1 January 2023 |
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Charge for the year |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Halo Therapeutics Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Debtors: amounts falling due within one year |
2023 |
2022 |
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VAT |
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Prepayments |
304 |
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Corporation Tax |
7,499 |
17,186 |
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Creditors |
2023 |
2022 |
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Amounts falling due within one year |
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Trade creditors |
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- |
Accruals |
11,150 |
1,800 |
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Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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222.78 |
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138.89 |
During the year 838,852 shares with a nominal value of £84 were issued for an aggregate consideration of £1,978,674.