Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31true2023-02-01falseResearch and experimental development on biotechnology54trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13146056 2023-02-01 2024-01-31 13146056 2022-02-01 2023-01-31 13146056 2024-01-31 13146056 2023-01-31 13146056 c:Director2 2023-02-01 2024-01-31 13146056 d:PlantMachinery 2023-02-01 2024-01-31 13146056 d:PlantMachinery 2024-01-31 13146056 d:PlantMachinery 2023-01-31 13146056 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 13146056 d:OfficeEquipment 2023-02-01 2024-01-31 13146056 d:OfficeEquipment 2024-01-31 13146056 d:OfficeEquipment 2023-01-31 13146056 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 13146056 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 13146056 d:CurrentFinancialInstruments 2024-01-31 13146056 d:CurrentFinancialInstruments 2023-01-31 13146056 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 13146056 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 13146056 d:ShareCapital 2024-01-31 13146056 d:ShareCapital 2023-01-31 13146056 d:SharePremium 2024-01-31 13146056 d:SharePremium 2023-01-31 13146056 d:RetainedEarningsAccumulatedLosses 2024-01-31 13146056 d:RetainedEarningsAccumulatedLosses 2023-01-31 13146056 c:OrdinaryShareClass1 2023-02-01 2024-01-31 13146056 c:OrdinaryShareClass1 2024-01-31 13146056 c:OrdinaryShareClass1 2023-01-31 13146056 c:FRS102 2023-02-01 2024-01-31 13146056 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 13146056 c:FullAccounts 2023-02-01 2024-01-31 13146056 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13146056 d:WithinOneYear 2024-01-31 13146056 d:WithinOneYear 2023-01-31 13146056 d:BetweenOneFiveYears 2024-01-31 13146056 d:BetweenOneFiveYears 2023-01-31 13146056 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13146056









NEOBE THERAPEUTICS LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
NEOBE THERAPEUTICS LTD
REGISTERED NUMBER: 13146056

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
6,834
-

  
6,834
-

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
137,043
59,473

Cash at bank and in hand
  
1,037,336
129,271

  
1,174,379
188,744

Creditors: amounts falling due within one year
 6 
(50,493)
(158,147)

NET CURRENT ASSETS
  
 
 
1,123,886
 
 
30,597

TOTAL ASSETS LESS CURRENT LIABILITIES
  
1,130,720
30,597

  

NET ASSETS
  
1,130,720
30,597


CAPITAL AND RESERVES
  

Called up share capital 
 7 
181
121

Share premium account
  
1,520,347
239,879

Profit and loss account
  
(389,808)
(209,403)

  
1,130,720
30,597


The directors consider 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 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 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.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
NEOBE THERAPEUTICS LTD
REGISTERED NUMBER: 13146056
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Dr P Correa de Sampaio
Director

Date: 17 October 2024

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

Page 2

 
NEOBE THERAPEUTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


GENERAL INFORMATION

Neobe Therapeutics Limited is a private company limited by shares and is incorporated in England and Wales. The registered office address is Salisbury House, Station Road, Cambridge, CB1 2LA. 
The functional and presentational currency is GBP. 

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The financial statements have been prepared on the going concern basis which assumes that the Company will continue as a going concern for the foreseeable future. The trading losses reported to date are consistent with the Company's buinsess plan as it progresses its research and development activities.
Given the investment received, together with the development progress achieved, the directors have a reasonable expecation that the Company will be able to meet its liabilites as they fall due for the foreseeable future and therefore continue to adopt the going concern basis. 

 
2.3

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

RESEARCH AND DEVELOPMENT

Research and development expenditure is recognised in the Profit and Loss Account in the period in which the expenditure was incurred.

 
2.5

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 Profit and Loss Account in the same period as the related expenditure.

Page 3

 
NEOBE THERAPEUTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

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.

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:

Plant and machinery
-
25%
straight-line
Office equipment
-
25%
straight-line

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.

 
2.8

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.

 
2.9

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

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.

Page 4

 
NEOBE THERAPEUTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 5 (2023 - 4).


4.


TANGIBLE FIXED ASSETS





Plant and machinery
Office equipment
Total

£
£
£



COST OR VALUATION


Additions
6,838
412
7,250



At 31 January 2024

6,838
412
7,250



DEPRECIATION


Charge for the year on owned assets
330
86
416



At 31 January 2024

330
86
416



NET BOOK VALUE



At 31 January 2024
6,508
326
6,834



At 31 January 2023
-
-
-

Page 5

 
NEOBE THERAPEUTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


DEBTORS

2024
2023
£
£


Other debtors
60,355
37,772

Prepayments and accrued income
76,688
21,701

137,043
59,473



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
40,803
5,131

Other taxation and social security
6,917
567

Other creditors
1,079
150,909

Accruals and deferred income
1,694
1,540

50,493
158,147


Included within other creditors are amount due to the defined contribution pension scheme of £1,079 (2023: £909).


7.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



180,611 (2023 - 120,858) Ordinary shares of £0.001 each
181
121


On 5 January 2024, 59,753 £0.001 Ordinary shares were issued for a total consideration of £1,310,032.

Page 6

 
NEOBE THERAPEUTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

8.


COMMITMENTS UNDER OPERATING LEASES

At 31 January 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
17,419
5,498

Later than 1 year and not later than 5 years
2,903
-

20,322
5,498

 
Page 7