Caseware UK (AP4) 2023.0.135 2023.0.135 No description of principal activity2023-02-01false137truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13408581 2023-02-01 2024-01-31 13408581 2022-02-01 2023-01-31 13408581 2024-01-31 13408581 2023-01-31 13408581 c:Director1 2023-02-01 2024-01-31 13408581 d:ComputerEquipment 2023-02-01 2024-01-31 13408581 d:ComputerEquipment 2024-01-31 13408581 d:ComputerEquipment 2023-01-31 13408581 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 13408581 d:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 13408581 d:OtherPropertyPlantEquipment 2024-01-31 13408581 d:OtherPropertyPlantEquipment 2023-01-31 13408581 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 13408581 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 13408581 d:CurrentFinancialInstruments 2024-01-31 13408581 d:CurrentFinancialInstruments 2023-01-31 13408581 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 13408581 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 13408581 d:ShareCapital 2024-01-31 13408581 d:ShareCapital 2023-01-31 13408581 d:SharePremium 2024-01-31 13408581 d:SharePremium 2023-01-31 13408581 d:RetainedEarningsAccumulatedLosses 2024-01-31 13408581 d:RetainedEarningsAccumulatedLosses 2023-01-31 13408581 c:FRS102 2023-02-01 2024-01-31 13408581 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 13408581 c:FullAccounts 2023-02-01 2024-01-31 13408581 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13408581 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure


















Synteny Biotechnology Limited























Unaudited

Financial statements



For the year ended 31 January 2024



Registered number: 13408581

 
Synteny Biotechnology Limited - Registered number:13408581


Statement of financial position
As at 31 January 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
45,714
28,208

  
45,714
28,208

Current assets
  

Debtors: amounts falling due within one year
 5 
479,389
171,507

Cash at bank and in hand
  
885,809
1,388,943

  
1,365,198
1,560,450

Creditors: amounts falling due within one year
 6 
(2,678,486)
(53,288)

Net current (liabilities)/assets
  
 
 
(1,313,288)
 
 
1,507,162

Total assets less current liabilities
  
(1,267,574)
1,535,370

  

Net (liabilities)/assets
  
(1,267,574)
1,535,370


Capital and reserves
  

Share capital
  
3
2

Share premium account
  
804,998
1,833,896

Profit and loss account
  
(2,072,575)
(298,528)

  
(1,267,574)
1,535,370


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Page 1

 
Synteny Biotechnology Limited - Registered number:13408581


Statement of financial position (continued)
As at 31 January 2024


The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the director. 



L Wollman
Director

Date: 10 October 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
Synteny Biotechnology Limited
 
 

Notes to the financial statements
For the year ended 31 January 2024

1.


General information

The company is a private company limited by shares and incorporated in England and Wales. Its registered office
is C/O Buzzacott LLP, 130 Wood Street, London, EC2V 6DL. The principal place of business is 9 Pembridge Road, London, W11 3JY. The registered number is 13408581. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance
from the parent company that it will continue to give financial support to the company for a period of at
least twelve months from the date of signing of these financial statements.
On this basis, the director considers it appropriate to prepare the financial statements on a going concern
basis. However, should the financial support mentioned above not be forthcoming, the going concern basis
used in preparing the company's financial statements may be invalid and adjustments would have to be
made to reduce the value of assets to their realisable amounts and to provide for any further liabilities which
might be necessary.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
Synteny Biotechnology Limited
 

Notes to the financial statements
For the year ended 31 January 2024

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
Synteny Biotechnology Limited
 

Notes to the financial statements
For the year ended 31 January 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%
Laboratory equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties,
loans to related parties and investments in ordinary shares.

Page 5

 
Synteny Biotechnology Limited
 
 

Notes to the financial statements
For the year ended 31 January 2024

3.


Employees

2024
2023
£
£

Wages and salaries
938,449
342,218

Social security costs
111,427
33,138

Cost of defined contribution scheme
37,140
5,303

1,087,016
380,659


The average monthly number of employees, including directors, during the year was 13 (2023 - 7).


4.


Tangible fixed assets





Computer equipment
Laboratory equipment
Total

£
£
£



Cost or valuation


At 1 February 2023
35,811
-
35,811


Additions
12,231
20,036
32,267



At 31 January 2024

48,042
20,036
68,078



Depreciation


At 1 February 2023
7,603
-
7,603


Charge for the year on owned assets
14,005
756
14,761



At 31 January 2024

21,608
756
22,364



Net book value



At 31 January 2024
26,434
19,280
45,714



At 31 January 2023
28,208
-
28,208

Page 6

 
Synteny Biotechnology Limited
 
 

Notes to the financial statements
For the year ended 31 January 2024

5.


Debtors

2024
2023
£
£


Other debtors
479,389
171,507

479,389
171,507



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
58,478
-

Amounts owed to group undertakings
2,554,336
-

Other taxation and social security
44,160
21,510

Other creditors
13,812
24,778

Accruals and deferred income
7,700
7,000

2,678,486
53,288



7.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from
those of the company in an independently administered fund. The pension cost charge represents contributions
payable by the company to the fund and amounted to £37,140 (2023: £5,303). Contributions totaling £3,110
(2023: £1,878) were payable to the fund at 31 January 2024.


8.


Controlling party

The smallest group undertaking for which financial statements are prepared, which include the company, is Synteny Labs Inc. Its registered office is Corporation Trust Center, 1209 Orange Street, Wilmington, New Castle County, Delaware 19801.

Page 7