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Registered Number: 10137391
England and Wales

 

 

 

CYTETECH LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 March 2024
Directors Dr J Drew
W Channon
D Channon
Dr L A Martin-Drew
C E Rees
Registered Number 10137391
Registered Office Units 2 and 3 Oak House
Albert Drive
Burgess Hill
West Sussex
RH15 9TN
Accountants OMB Tax Limited
Unit 10, Clayfield Mews
Newcomen Road
Tunbridge Wells
TN4 9PA
1
You consider that the Company is exempt from an audit for the year ended 31 March 2024 .  You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.  These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the Company and on the basis of information and explanations you have given to us.  We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. 



OMB Tax Limited

Unit 10, Clayfield Mews
Newcomen Road
Tunbridge Wells
TN4 9PA
30 September 2024
2
 
 
Notes
 
2024
£
  2022
£
Fixed assets      
Intangible fixed assets 3 157,955    145,231 
Tangible fixed assets 4 329,795    225,430 
Investments 5 1,888,517    1,761,044 
2,376,267    2,131,705 
Current assets      
Debtors 6 46,937    5,860 
Cash at bank and in hand 3,140    3,354 
50,077    9,214 
Creditors: amount falling due within one year 7 (1,047,572)   (1,008,149)
Net current assets (997,495)   (998,935)
 
Total assets less current liabilities 1,378,772    1,132,770 
Creditors: amount falling due after more than one year 8 (52,137)   (10,996)
Net assets 1,326,635    1,121,774 
 

Capital and reserves
     
Called up share capital 9 100    100 
Profit and loss account 1,326,535    1,121,674 
Shareholders' funds 1,326,635    1,121,774 
 


For the period ended 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the Company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 30 September 2024 and were signed on its behalf by:


-------------------------------
W Channon
Director
3
General Information
CyteTech Limited is a private company, limited by shares, registered in England and Wales, under 10137391, at Units 2 and 3 Oak House, Albert Drive, Burgess Hill, West Sussex, RH15 9TN.  The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 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.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the Company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the Company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Research and development expenditure
Research and development expenditure is charged to the profit and loss account in the period in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date.   Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Intangible assets
Intangible assets (including purchased goodwill and patents) are not amortised.  Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment.  Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings 15%
Plant and machinery etc 15%
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the Company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.  Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any diminution in value.
2.

Average number of employees

Average number of employees during the period was 1 (2022 : 0).
3.

Intangible fixed assets

Cost Other intangible assets   Total
  £   £
At 01 January 2023 145,231    145,231 
Additions 12,724    12,724 
Disposals  
At 31 March 2024 157,955    157,955 
Amortisation
At 01 January 2023  
Charge for period  
On disposals  
At 31 March 2024  
Net book values
At 31 March 2024 157,955    157,955 
At 31 December 2022 145,231    145,231 


4.

Tangible fixed assets

Cost or valuation Land and buildings   Plant and machinery etc   Total
  £   £   £
At 01 January 2023 14,258    365,625    379,883 
Additions   142,381    142,381 
Disposals    
At 31 March 2024 14,258    508,006    522,264 
Depreciation
At 01 January 2023 6,141    148,312    154,453 
Charge for period 2,356    35,660    38,016 
On disposals    
At 31 March 2024 8,497    183,972    192,469 
Net book values
Closing balance as at 31 March 2024 5,761    324,034    329,795 
Opening balance as at 01 January 2023 8,117    217,313    225,430 

The net book value of Plant and machinery etc includes £ 87,166 (2022 £122,857) in respect of assets leased under finance leases or hire purchase contracts.

5.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 January 2023 1,761,044    1,761,044 
Additions 127,473    127,473 
Transfer to/from tangible fixed assets  
Disposals  
At 31 March 2024 1,888,517    1,888,517 

6.

Debtors: amounts falling due within one year

2024
£
  2022
£
Trade Debtors 32,440    5,760 
Other Debtors 14,397   
46,837    5,760 

6.

Debtors: amounts falling due after one year

2024
£
  2022
£
Other Debtors 100    100 
100    100 

7.

Creditors: amount falling due within one year

2024
£
  2022
£
Trade Creditors 14,941    387 
Taxation and Social Security 9,345    2,634 
Obligations under HP/Financial Leases 24,812    19,932 
Other Creditors 998,474    985,196 
1,047,572    1,008,149 

8.

Creditors: amount falling due after more than one year

2024
£
  2022
£
Obligations under HP/Financial Leases 52,137    10,996 
52,137    10,996 

9.

Share Capital

Allotted, called up and fully paid
2024
£
  2022
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

4