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COMPANY REGISTRATION NUMBER: 14714531
Ensocell Ltd
Filleted Unaudited Financial Statements
30 September 2024
Ensocell Ltd
Financial Statements
Period from 1 April 2024 to 30 September 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Ensocell Ltd
Statement of Financial Position
30 September 2024
30 Sep 24
31 Mar 24
Note
£
£
Fixed assets
Tangible assets
5
355,989
436,434
Current assets
Debtors
6
729,768
135,893
Cash at bank and in hand
907,593
514,867
------------
---------
1,637,361
650,760
Creditors: amounts falling due within one year
7
179,869
75,863
------------
---------
Net current assets
1,457,492
574,897
------------
------------
Total assets less current liabilities
1,813,481
1,011,331
------------
------------
Net assets
1,813,481
1,011,331
------------
------------
Capital and reserves
Called up share capital
254
187
Share premium account
4,999,867
2,499,934
Profit and loss account
( 3,186,640)
( 1,488,790)
------------
------------
Shareholders funds
1,813,481
1,011,331
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 September 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Ensocell Ltd
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 25 November 2024 , and are signed on behalf of the board by:
J Greve
Director
Company registration number: 14714531
Ensocell Ltd
Notes to the Financial Statements
Period from 1 April 2024 to 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Biodata Innovation Centre, Wellcome Genome Campus, Cambridge, CB10 1DR, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis which relies upon the continuing support of the investors.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property
-
20% straight line
Lab Equipment
-
20% straight line
Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 5 (2024: 5 ).
5. Tangible assets
Long leasehold property
Lab Equipment
Equipment
Total
£
£
£
£
Cost
At 1 April 2024
13,718
425,211
39,666
478,595
Additions
3,363
13,917
17,280
--------
---------
--------
---------
At 30 September 2024
13,718
428,574
53,583
495,875
--------
---------
--------
---------
Depreciation
At 1 April 2024
1,143
37,315
3,703
42,161
Charge for the period
2,744
85,286
9,695
97,725
--------
---------
--------
---------
At 30 September 2024
3,887
122,601
13,398
139,886
--------
---------
--------
---------
Carrying amount
At 30 September 2024
9,831
305,973
40,185
355,989
--------
---------
--------
---------
At 31 March 2024
12,575
387,896
35,963
436,434
--------
---------
--------
---------
6. Debtors
30 Sep 24
31 Mar 24
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
524,765
Other debtors
205,003
135,893
---------
---------
729,768
135,893
---------
---------
7. Creditors: amounts falling due within one year
30 Sep 24
31 Mar 24
£
£
Trade creditors
168,617
65,435
Other creditors
11,252
10,428
---------
--------
179,869
75,863
---------
--------