Halo Therapeutics Ltd 13079698 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is research and experimental development on biotechnology. Digita Accounts Production Advanced 6.30.9574.0 true true 13079698 2023-01-01 2023-12-31 13079698 2023-12-31 13079698 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-12-31 13079698 core:RetainedEarningsAccumulatedLosses 2023-12-31 13079698 core:ShareCapital 2023-12-31 13079698 core:SharePremium 2023-12-31 13079698 core:CurrentFinancialInstruments 2023-12-31 13079698 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 13079698 core:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 13079698 core:OtherPropertyPlantEquipment 2023-12-31 13079698 bus:SmallEntities 2023-01-01 2023-12-31 13079698 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13079698 bus:FullAccounts 2023-01-01 2023-12-31 13079698 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13079698 bus:RegisteredOffice 2023-01-01 2023-12-31 13079698 bus:Director2 2023-01-01 2023-12-31 13079698 bus:Director4 2023-01-01 2023-12-31 13079698 bus:Director5 2023-01-01 2023-12-31 13079698 bus:Director6 2023-01-01 2023-12-31 13079698 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-01-01 2023-12-31 13079698 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13079698 core:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 13079698 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 13079698 core:PlantMachinery 2023-01-01 2023-12-31 13079698 countries:EnglandWales 2023-01-01 2023-12-31 13079698 core:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 13079698 core:OtherPropertyPlantEquipment 2022-12-31 13079698 2022-01-01 2022-12-31 13079698 2022-12-31 13079698 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-12-31 13079698 core:RetainedEarningsAccumulatedLosses 2022-12-31 13079698 core:ShareCapital 2022-12-31 13079698 core:SharePremium 2022-12-31 13079698 core:CurrentFinancialInstruments 2022-12-31 13079698 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 13079698 core:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 13079698 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13079698

Halo Therapeutics Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

Pages for filing with Registrar

 

Halo Therapeutics Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Halo Therapeutics Ltd

Company Information

Directors

Dr P Pack

Prof C Berger-Schaffitzel

Dr D Fitzgerald

Prof I Berger

Registered office

Britannia House
Caerphilly Business Park
Caerphilly
CF83 3GG

Registered number

13079698

Accountants

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

Halo Therapeutics Ltd

(Registration number: 13079698)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

78,171

63,157

Tangible assets

5

905

1,741

 

79,076

64,898

Current assets

 

Debtors

6

8,018

21,427

Cash at bank and in hand

 

1,408,817

32,234

 

1,416,835

53,661

Creditors: Amounts falling due within one year

7

(17,140)

(1,800)

Net current assets

 

1,399,695

51,861

Net assets

 

1,478,771

116,759

Capital and reserves

 

Called up share capital

8

223

139

Share premium reserve

2,003,798

472,450

Profit and loss account

(525,250)

(355,830)

Total equity

 

1,478,771

116,759

 

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 2 September 2024 and signed on its behalf by:
 

.........................................

Dr D Fitzgerald
Director

 

Halo Therapeutics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Britannia House
Caerphilly Business Park
Caerphilly
CF83 3GG

2

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

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

 

Halo Therapeutics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Intangible fixed assets

Patents
 £

Cost

At 1 January 2023

63,157

Additions

15,014

At 31 December 2023

78,171

Amortisation

At 1 January 2023

-

At 31 December 2023

-

Carrying amount

At 31 December 2023

78,171

At 31 December 2022

63,157

5

Tangible fixed assets

Plant and machinery
£

Cost

At 1 January 2023

2,507

At 31 December 2023

2,507

Depreciation

At 1 January 2023

766

Charge for the year

836

At 31 December 2023

1,602

Carrying amount

At 31 December 2023

905

At 31 December 2022

1,741

 

Halo Therapeutics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Debtors: amounts falling due within one year

2023
£

2022
£

VAT

215

4,241

Prepayments

304

-

Corporation Tax

7,499

17,186

8,018

21,427

7

Creditors

2023
£

2022
£

Amounts falling due within one year

Trade creditors

5,990

-

Accruals

11,150

1,800

17,140

1,800

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £0.00 each

2,227,781

222.78

1,388,929

138.89

         

During the year 838,852 shares with a nominal value of £84 were issued for an aggregate consideration of £1,978,674.