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Registered Number: 13910129
England and Wales

 

 

 

OCUS INNOVATION (UK) LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Director Professor Ian Chi Kei Wong
Registered Number 13910129
Registered Office 18 Ensign Street
London
E1 8PA
Accountants P and Co (Partners) LLP
18 Ensign Street
London
E1 8PA
1
Director's report and financial statements
The director presents annual report and the financial statements for the year ended 31 March 2024.
Principal activities
The principal activity of the company was that of research and experimental development on biotechnology. There was no turnover during the financial period.
Director
The director who served the company throughout the year was as follows:

Professor Ian Chi Kei Wong
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice. Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that year. In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the companys transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Professor Ian Chi Kei Wong
Director

Date approved: 11 November 2024
2
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ocus Innovation (UK) Limited for the year ended 31 March 2024 which comprise of the Income Statement, the Balance Sheet and the related notes from the companys accounting records and from information and explanations you have given us.


As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of Ocus Innovation (UK) Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Ocus Innovation (UK) Limited and state those matters that we have agreed to state to the Board of Directors of Ocus Innovation (UK) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ocus Innovation (UK) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ocus Innovation (UK) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Ocus Innovation (UK) Limited . You consider that Ocus Innovation (UK) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Ocus Innovation (UK) Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.







....................................................
P and Co (Partners) LLP
18 Ensign Street
London
E1 8PA
12 November 2024
3
 
 
Notes
 
2024
£
  2023
£
Current assets      
Debtors 3 1,628   
Cash at bank and in hand 178,529    187,606 
180,157    187,606 
Creditors: amount falling due within one year 4 (201,984)   (202,426)
Net current assets (21,827)   (14,820)
 
Total assets less current liabilities (21,827)   (14,820)
Net assets (21,827)   (14,820)
 

Capital and reserves
     
Called up share capital 5 1    1 
Profit and loss account (21,828)   (14,821)
Shareholders' funds (21,827)   (14,820)
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 11 November 2024 and were signed by:


-------------------------------
Professor Ian Chi Kei Wong
Director
4
General Information
Ocus Innovation (UK) Limited is a private company, limited by shares, registered in England and Wales, registration number 13910129, registration address 18 Ensign Street, London, E1 8PA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies. The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
These financial statements have been prepared on a going concern basis, the validity of which depends on the financial support of the shareholder and affiliate companies, at a level sufficient to finance the working capital requirements of the company. The shareholder and affiliate companies have agreed to provide adequate funds for the company to meet its liabilities as they fall due. The director is therefore of the opinion that it is appropriate to prepare the financial statements on a going concern basis.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Debtors: amounts falling due within one year

2024
£
  2023
£
Prepayments & Accrued Income 121   
Other Debtors 1,507   
1,628   

4.

Creditors: amount falling due within one year

2024
£
  2023
£
Accrued Expenses 1,873    2,427 
Other Creditors 112   
Amount Due to Shareholders 199,999    199,999 
201,984    202,426 

5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1 Ordinary share of £1.00 each  
 

6.

Related parties transactions

At the year end, the company owed £199,999 to its shareholder, Jacobson Pharma Group (BVI) Limited. The loan is unsecured, interest-free and repayable on demand. 
5