2023-05-01 2024-04-30 11320512 CURENETICS LTD false 11320512 2023-05-01 2024-04-30 11320512 uk-bus:Director1 2023-05-01 2024-04-30 11320512 uk-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 11320512 uk-bus:SmallEntities 2023-05-01 2024-04-30 11320512 uk-bus:FullAccounts 2023-05-01 2024-04-30 11320512 uk-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11320512 2023-05-01 11320512 2024-04-30 11320512 2023-04-30 xbrli:pure iso4217:GBP 11320512 2022-05-01 2023-04-30
Company Registration Number : 11320512 (England and Wales)
11320512
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2024-04-30
false
CURENETICS LTD
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2023-05-01
CURENETICS LTD
Unaudited filleted financial statements
For the year ended 30 April 2024
CURENETICS LTD
Contents
For the year ended 30 April 2024

CONTENTS PAGE
Company Information 3
Statement of Financial Position 4
Statement of movement in equity 5
Notes to the Financial Statements 6 - 10


CURENETICS LTD
Company Information
For the year ended 30 April 2024

Company registration number 11320512 (England and Wales)
Director Olusola Michael ADELEKE
Registered office address St John's Innovation Centre
Cambridge
CB4 0WS
UK
Accountant Coulman Scott LLP
-
20-22 Wenlock Road
London
N1 7GU
UK
CURENETICS LTD
Statement of Financial Position
For the year ended 30 April 2024

2024 2023
Notes £ £
Fixed assets
Property, plant and equipment 7,643 2,226
6 7,643 2,226
Current assets
Debtors 47,430 844
Cash and cash equivalents 7,016 1,295
54,446 2,139
Current liabilities
Creditors: Amounts falling due within one year (61,566) (1,273)
(61,566) (1,273)
Net current (liabilities)/assets (7,120) 866
Total assets less current liabilities 523 3,092
Non-current liabilities
Creditors: Amounts falling due after more than one year (33,769) (44,775)
Net (liabilities)/assets (33,246) (41,683)
Capital and reserves
Called up share capital 6,606 6
Share Premium 219,400 -
Revaluation reserve - 50,000
Retained earnings (259,252) (91,689)
Shareholder's funds (33,246) (41,683)
For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small entities regime. All the members of the company have consented to the drawing up of the abridged balance sheet.
  • For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The director acknowledges their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts 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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 30 October 2024
.............................
Olusola Michael ADELEKE (Director)
Company registration number: 11320512
/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */
Balance sheet at 2024-04-30 30 April 2024
2024 2023
£ £
Fixed Assets 7,643 2,226
Current Assets 54,012 2,139
Prepayments and accrued income 434 0
Creditors: amounts falling due within one year (61,566) (1,273)
Net current assets (liabilities) (7,120) 866
Total assets less current liabilities 523 3,092
CREDITORS: Amounts falling due more than one year (33,769) (44,775)
Net Assets (liabilities) (33,246) (41,683)
Capital and Reserves (33,246) (41,683)
For the year ending 30/04/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. For the year ending 30-04-2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit for the year in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the small companies provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of directors on 30 October 2024 2024-10-11 and signed on behalf of the board,
.............................
Olusola Michael ADELEKE
Director
Company registration number: 11320512
CURENETICS LTD
Statement of movement in equity
For the year ended 30 April 2024

Equity share capital Share premium Revaluation reserve Retained earnings Total
£ £ £ £ £
As on 01 May 2022 - - - (29,555) (29,555)
Movement in share capital 6 - - - 6
Profit/Loss for the year - - - - -
Movement in revaluation reserve - - 50,000 - 50,000
As on 30 Apr 2023 and 01 May 2023 6 - 50,000 (29,555) 20,451

Movement in share capital 6,600 - - - 6,600
Profit/Loss for the year - - - (167,563) (167,563)
Movement in share premium - 219,400 - - 219,400
Movement in revaluation reserve - - (50,000) - (50,000)
As on 30 Apr 2024 6,606 219,400 - (259,252) (33,246)
CURENETICS LTD
Notes to the Financial Statements
For the year ended 30 April 2024

(1) General Information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is St John's Innovation Centre, Cambridge, CB4 0WS.

(2) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.

(3) Significant Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Interest income
Interest income is recognised using the effective interest method.
Borrowing costs
All borrowing related costs are included within the statement of income in the period in which they are incurred using the effective interest method.
Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:

Asset class and depreciation rate
Land and Buildings
Plant and Machinery
Short Leasehold Properties
Investment Properties
Long Leasehold Properties
Commercial Vehicles
Fixtures and Fittings
Equipment25% straight line
Motor Cars
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Employee benefits
Payments to defined contribution retirement benefit plans are recognised as an expense when employees have rendered service entitling them to the contributions.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

(4) Critical accounting judgements and key sources of estimation uncertainty
No judgement
No significant judgements or estimates have been made in preparation of these financial statements.

(5) Employees
During the year, the average number of employees including director was 4 (2023 : 2).

(6) Fixed assets
Tangible

£
Cost
As at 01 May 20232,701
Additions6,966
As at 30 April 20249,667
Depreciation/Amortisation
As at 01 May 2023475
For the year1,549
As at 30 April 20242,024
Net book value
As at 30 April 20247,643
As at 30 April 20232,226

(7) Going Concern
The Director is aware of the current challenges facing the company, which have impacted its financial resources. However, based on positive discussions with potential investors, the Director believes that the company's accounts should be prepared on a going concern basis. Both the Director and the company’s investors are confident that the situation is temporary and are committed to supporting the company while exploring various options. Measures have been implemented to ensure that current liabilities are being met, and future business expenditures are under review.