The Vaccine Group Limited 10842271 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is to commericalise novel vaccine platforms for the development of vaccines for use in infection control Digita Accounts Production Advanced 6.30.9574.0 true true 10842271 2023-07-01 2024-06-30 10842271 2024-06-30 10842271 core:OtherReservesSubtotal 2024-06-30 10842271 core:RetainedEarningsAccumulatedLosses 2024-06-30 10842271 core:ShareCapital 2024-06-30 10842271 core:SharePremium 2024-06-30 10842271 core:CurrentFinancialInstruments 2024-06-30 10842271 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 10842271 core:Non-currentFinancialInstruments 2024-06-30 10842271 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 10842271 core:PatentsTrademarksLicencesConcessionsSimilar 2024-06-30 10842271 core:FurnitureFittingsToolsEquipment 2024-06-30 10842271 core:OtherPropertyPlantEquipment 2024-06-30 10842271 bus:SmallEntities 2023-07-01 2024-06-30 10842271 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 10842271 bus:FilletedAccounts 2023-07-01 2024-06-30 10842271 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 10842271 bus:RegisteredOffice 2023-07-01 2024-06-30 10842271 bus:Director3 2023-07-01 2024-06-30 10842271 bus:Director4 2023-07-01 2024-06-30 10842271 bus:Director6 2023-07-01 2024-06-30 10842271 bus:Director7 2023-07-01 2024-06-30 10842271 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10842271 core:LicencesFranchises 2023-07-01 2024-06-30 10842271 core:PatentsTrademarksLicencesConcessionsSimilar 2023-07-01 2024-06-30 10842271 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 10842271 core:OfficeEquipment 2023-07-01 2024-06-30 10842271 core:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 10842271 core:PlantMachinery 2023-07-01 2024-06-30 10842271 6 2023-07-01 2024-06-30 10842271 countries:EnglandWales 2023-07-01 2024-06-30 10842271 2023-06-30 10842271 core:PatentsTrademarksLicencesConcessionsSimilar 2023-06-30 10842271 core:FurnitureFittingsToolsEquipment 2023-06-30 10842271 core:OtherPropertyPlantEquipment 2023-06-30 10842271 2022-07-01 2023-06-30 10842271 2023-06-30 10842271 core:OtherReservesSubtotal 2023-06-30 10842271 core:RetainedEarningsAccumulatedLosses 2023-06-30 10842271 core:ShareCapital 2023-06-30 10842271 core:SharePremium 2023-06-30 10842271 core:CurrentFinancialInstruments 2023-06-30 10842271 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 10842271 core:Non-currentFinancialInstruments 2023-06-30 10842271 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 10842271 core:PatentsTrademarksLicencesConcessionsSimilar 2023-06-30 10842271 core:FurnitureFittingsToolsEquipment 2023-06-30 10842271 core:OtherPropertyPlantEquipment 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 10842271

The Vaccine Group Limited

Filleted Unaudited Financial Statements

for the Year Ended 30 June 2024

 

The Vaccine Group Limited
(Registration number: 10842271)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

The Vaccine Group Limited
(Registration number: 10842271)

Company Information

Directors

Dr M Jarvis

Mr M C White

Dr J S Salt

Prof R Fern

Registered office

The Officers' Mess Royston Road
Duxford
Cambridge
England
CB22 4QH

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

The Vaccine Group Limited
(Registration number: 10842271)

Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

130,472

116,440

Tangible assets

5

17,892

25,528

 

148,364

141,968

Current assets

 

Debtors

6

184,562

240,837

Cash at bank and in hand

 

71,550

27,499

 

256,112

268,336

Creditors: Amounts falling due within one year

7

(772,890)

(287,971)

Net current liabilities

 

(516,778)

(19,635)

Total assets less current liabilities

 

(368,414)

122,333

Creditors: Amounts falling due after more than one year

7

-

(113,477)

Net (liabilities)/assets

 

(368,414)

8,856

Capital and reserves

 

Called up share capital

125

124

Share premium reserve

925,769

630,720

Other reserves

52,286

43,555

Retained earnings

(1,346,594)

(665,543)

Shareholders' (deficit)/funds

 

(368,414)

8,856

 

The Vaccine Group Limited
(Registration number: 10842271)

Balance Sheet as at 30 June 2024

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 September 2024 and signed on its behalf by:
 

.........................................
Dr J S Salt
Director

 

The Vaccine Group Limited
(Registration number: 10842271)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Officers' Mess Royston Road
Duxford
Cambridge
England
CB22 4QH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have acknowledged the negative reserves at the balance sheet date.

Post year-end the company has secured additional funds to support its liabilities as they fall due.

The directors remain confident that additional capital will be raised and in addition to this a significant shareholder has committed to ensuring that the company is able to continue trading and meet its liabilities.

The accounts have therefore been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods, provision of services and grant income in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

The Vaccine Group Limited
(Registration number: 10842271)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Other grants

Grants have been recognised under the performance model and are credited to income
when all performance conditions have been met in full.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

Straight line over 5 years

Office equipment

Straight line over 2 years

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

The Vaccine Group Limited
(Registration number: 10842271)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Asset class

Amortisation method and rate

Patents

Straight line over 10 years after successful application

Licences

Straight line over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

The Vaccine Group Limited
(Registration number: 10842271)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2023 - 11).

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 July 2023

157,306

157,306

Additions acquired separately

17,597

17,597

At 30 June 2024

174,903

174,903

Amortisation

At 1 July 2023

40,866

40,866

Amortisation charge

3,565

3,565

At 30 June 2024

44,431

44,431

Carrying amount

At 30 June 2024

130,472

130,472

At 30 June 2023

116,440

116,440

 

The Vaccine Group Limited
(Registration number: 10842271)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

12,292

52,782

65,074

At 30 June 2024

12,292

52,782

65,074

Depreciation

At 1 July 2023

11,751

27,795

39,546

Charge for the year

470

7,166

7,636

At 30 June 2024

12,221

34,961

47,182

Carrying amount

At 30 June 2024

71

17,821

17,892

At 30 June 2023

541

24,987

25,528

6

Debtors

2024
£

2023
£

Other debtors

165,940

226,995

Prepayments and accrued income

18,622

13,842

Total current trade and other debtors

184,562

240,837

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

541,348

-

Trade creditors

 

207,412

93,709

Taxation and social security

 

10,881

15,355

Other creditors

 

8,087

168,461

Accrued expenses

 

5,162

10,446

 

772,890

287,971

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

-

113,477

 

The Vaccine Group Limited
(Registration number: 10842271)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

439,869

-

Other borrowings

101,479

-

541,348

-

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

113,477