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REGISTERED NUMBER: 08859577 (England and Wales)















Financial Statements

for the Year Ended

31 December 2023

for

TRACR Hematology Limited

TRACR Hematology Limited (Registered number: 08859577)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Report of the Independent Auditors 2

Income Statement 6

Other Comprehensive Income 7

Statement of Financial Position 8

Statement of Changes in Equity 9

Notes to the Financial Statements 10


TRACR Hematology Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Dr S Kulkarni



REGISTERED OFFICE: The Old Bakehouse
Course Road
Ascot
Berkshire
SL5 7HL



REGISTERED NUMBER: 08859577 (England and Wales)



SENIOR STATUTORY AUDITOR: David Forinton



AUDITORS: Kirk Rice LLP
Accountants and Registered Auditors
The Courtyard
High Street
Ascot
Berkshire
SL5 7HP

Report of the Independent Auditors to the Members of
TRACR Hematology Limited

Although the company is only required to file a Statement of Financial Position, requires the accompanying Report of the Auditors to be a copy of our report to the members on the company's full Financial Statements and Report of the Director. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director, referred to in the copy of our Report of the Auditors, are not required to be filed with the Registrar of Companies.

Opinion
We have audited the financial statements of TRACR Hematology Limited (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Director has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
TRACR Hematology Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Director.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
TRACR Hematology Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Detecting irregularities

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

Our audit approach was developed by obtaining an understanding of the company's activities, the key functions undertaken by management and by service organisations, and the overall control environment. Based on this understanding we assessed those aspects of the company's transactions and balances which were most likely to give rise to a material misstatement and were most susceptible to irregularities including fraud or error. Specifically, we identified what we considered to be key audit risks and planned our audit approach accordingly.

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company which were contrary to applicable laws and regulations, including fraud. These included but were not limited to compliance with the Companies Act 2006 and FRS 102.

We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion.

We focused on laws and regulations that could give rise to a material misstatement in the company's financial statements. Our tests included, but were not limited to:

- Agreement of the financial statements disclosures to underlying supporting documentation;
- Making enquiries of service organisations;
- Considering the effectiveness of control environment in monitoring compliance with laws and regulations.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. As in all of our audits we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
TRACR Hematology Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




David Forinton (Senior Statutory Auditor)
for and on behalf of Kirk Rice LLP
Accountants and Registered Auditors
The Courtyard
High Street
Ascot
Berkshire
SL5 7HP

30 September 2024

TRACR Hematology Limited (Registered number: 08859577)

Income Statement
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

TURNOVER - -

Administrative expenses 43,266 384,772
(43,266 ) (384,772 )

Other operating income 112,124 -
OPERATING PROFIT/(LOSS) and
PROFIT/(LOSS) BEFORE TAXATION 68,858 (384,772 )

Tax on profit/(loss) 5 - -
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

68,858

(384,772

)

TRACR Hematology Limited (Registered number: 08859577)

Other Comprehensive Income
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

PROFIT/(LOSS) FOR THE YEAR 68,858 (384,772 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

68,858

(384,772

)

TRACR Hematology Limited (Registered number: 08859577)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 6 1 1

CURRENT ASSETS
Debtors 7 6 6

CREDITORS
Amounts falling due within one year 8 2,733,508 2,802,366
NET CURRENT LIABILITIES (2,733,502 ) (2,802,360 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,733,501

)

(2,802,359

)

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings (2,733,507 ) (2,802,365 )
SHAREHOLDERS' FUNDS (2,733,501 ) (2,802,359 )

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

The financial statements were approved by the director and authorised for issue on 30 September 2024 and were signed by:





Dr S Kulkarni - Director


TRACR Hematology Limited (Registered number: 08859577)

Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 6 (2,417,593 ) (2,417,587 )

Changes in equity
Total comprehensive income - (384,772 ) (384,772 )
Balance at 31 December 2022 6 (2,802,365 ) (2,802,359 )

Changes in equity
Total comprehensive income - 68,858 68,858
Balance at 31 December 2023 6 (2,733,507 ) (2,733,501 )

TRACR Hematology Limited (Registered number: 08859577)

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

1. STATUTORY INFORMATION

TRACR Hematology Limited 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Intangible fixed assets
Intangible fixed assets are costs incurred with a licence to perform research and development and are capitalised at cost. After initial recognition, intangible assets are measured at cost less any accumulated impairment losses. The carrying value of intangibles are reviewed for impairment when events or circumstances indicate that the carrying value may not be recoverable, and then written down to their recoverable amount. The recoverable amount is the higher of its fair value less cost to sell and its value in use.

Intangible assets comprise of patent and licence costs. They are capitalised at cost. However, given the nature and uncertainty of these assets, the directors believe that both value in use and fair value less cost to sell are close to zero, so immediately impair to a nominal holding of £1.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern
At the year end, the company had total net liabilities of £2,733,501. The director considers that the company can continue as a going concern, as the majority shareholder, CRISPR Therapeutics AG, has sufficient funds to provide financial support to the company from 12 months of the date of signing of the accounts.

3. EMPLOYEES AND DIRECTORS

There are no employees in the year.

There were no employees during the year.

4. OPERATING PROFIT/(LOSS)

The operating profit (2022 - operating loss) is stated after charging/(crediting):

31.12.23 31.12.22
£    £   
Patents and licences amortisation - 108,311
Auditor remuneration 7,854 6,325
Foreign exchange differences (112,124 ) 256,985

TRACR Hematology Limited (Registered number: 08859577)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 31 December 2023 nor for the year ended 31 December 2022.

6. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 January 2023 1,798,216
Additions 18,361
At 31 December 2023 1,816,577
AMORTISATION
At 1 January 2023 1,798,215
Impairments 18,361
At 31 December 2023 1,816,576
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Called up share capital not paid 6 6

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 729 1,100
Amounts owed to group undertakings 2,722,759 2,782,906
Accrued expenses 10,020 18,360
2,733,508 2,802,366

9. ULTIMATE CONTROLLING PARTY

CRISPR Therapeutics AG (incorporated in Switzerland) is regarded by the directors as being the company's ultimate parent company.

10. PARENT COMPANY

CRISPR Therapeutics AG, a company incorporated in Switzerland, is the parent company, by virtue of holding 100% of the issued shared capital of the company and is also the parent of the smallest group for which consolidated financial statements are drawn up, of which TRACR Hematology Limited is a member. CRISPR Therapeutics AG draws up the consolidated financial statements and it's address is Aeschenvorstadt 36, CH-4051, Basel, Switzerland.