Company No:
Contents
Note | 31.12.2023 | |
£ | ||
Current assets | ||
Stocks | 3 |
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Cash at bank and in hand | 4 |
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991,574 | ||
Creditors: amounts falling due within one year | 5 | (
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Net current assets | 250,649 | |
Total assets less current liabilities | 250,649 | |
Net assets |
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Capital and reserves | ||
Called-up share capital | 6 |
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Share premium account |
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Profit and loss account | (
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Phaser Biomedical Ltd (registered number:
Professor C R Wolf
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
Phaser Biomedical Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Burges Salmon Llp Atria One, 144 Morrison Street, Edinburgh, EH3 8EX, Scotland, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating to revenue. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Where part of a grant relating to an revenue is accrued, it is recognised as accrued income.
Period from 21.10.2022 to 31.12.2023 |
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Number | |
Monthly average number of persons employed by the Company during the period, including directors |
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31.12.2023 | |
£ | |
Stocks |
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31.12.2023 | |
£ | |
Cash at bank and in hand |
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31.12.2023 | |
£ | |
Trade creditors |
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Other taxation and social security | (
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Other creditors |
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31.12.2023 | |
£ | |
Allotted, called-up and fully-paid | |
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