Company registration number 10571317 (England and Wales)
CELLOPATH LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
CELLOPATH LTD
COMPANY INFORMATION
Directors
Dr PD Barrett
Mrs K Barrett
Company number
10571317
Registered office
Little Dene
Elvaston Park Road
Hexham
Northumberland
NE46 2HT
Accountants
RMT Accountants & Business Advisors Ltd
Gosforth Park Avenue
Newcastle upon Tyne
NE12 8EG
Bankers
Handelsbanken
43 Old Elvet
Durham
DH1 3HN
CELLOPATH LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
CELLOPATH LTD
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible fixed assets
4
3,053
3,378
Investment properties
5
361,056
355,673
364,109
359,051
Current assets
Debtors
6
18
13,118
Cash at bank and in hand
104,391
50,813
104,409
63,931
Creditors: amounts falling due within one year
7
(136,344)
(141,152)
Net current liabilities
(31,935)
(77,221)
Total assets less current liabilities
332,174
281,830
Provisions for liabilities
(820)
(845)
Net assets
331,354
280,985
Capital and reserves
Called up share capital
8
1
1
Share premium account
3
3
Profit and loss reserves
331,350
280,981
Total equity
331,354
280,985

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

CELLOPATH LTD
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 15 October 2024 and are signed on its behalf by:
Dr PD Barrett
Director
Company Registration No. 10571317
CELLOPATH LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information

Cellopath Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Little Dene, Elvaston Park Road, Hexham, Northumberland, NE46 2HT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for medical services provided in the normal course of business.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings and equipment
15% reducing balance
1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

CELLOPATH LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Total
3
2
CELLOPATH LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
3
Tax on profit
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
16,262
16,640
Adjustments in respect of prior periods
-
0
(49)
Total current tax
16,262
16,591
Deferred tax
Origination and reversal of timing differences
(25)
173
Total tax charge
16,237
16,764
4
Tangible fixed assets
Fixtures, fittings and equipment
£
Cost
At 1 February 2023
6,607
Additions
200
At 31 January 2024
6,807
Depreciation
At 1 February 2023
3,229
Depreciation charged in the year
525
At 31 January 2024
3,754
Carrying amount
At 31 January 2024
3,053
At 31 January 2023
3,378
CELLOPATH LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
5
Investment property
2024
£
Fair value
At 1 February 2023
355,673
Additions
5,383
At 31 January 2024
361,056

Investment property comprises of the 1 Meadow Way purchase price plus legal fees. The fair value of the investment property has been arrived at on the basis of a valuation carried out at the year end by the directors of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
13,118
Prepayments and accrued income
18
-
0
18
13,118
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,082
122
Corporation tax
16,262
16,640
Other creditors
118,000
120,555
Accruals
-
0
3,835
136,344
141,152
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Authorised
100 ordinary shares of 1p each
1
1
Issued and fully paid
100 ordinary shares of 1p each
1
1
1
1
CELLOPATH LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 7 -
9
Related party transactions

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due to related parties
£
£
Director
118,000
120,555

There are no set terms as to the repayment of this balance and no interest accruing thereon.

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