Registration number:
Microplate DX Limited
for the Year Ended 30 April 2024
Microplate DX Limited
Contents
Company Information |
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Directors' Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Microplate DX Limited
Company Information
Chairperson |
Dr Poonam Malik |
Directors |
Prof Andrew Justin Radcliffe Porter Dr Stuart Hannah |
Company secretary |
MBM Secretarial Services Limited |
Registered office |
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Microplate DX Limited
Directors' Report for the Year Ended 30 April 2024
The directors present their report and the financial statements for the year ended 30 April 2024.
Incorporation
The company was incorporated and commenced trading on
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is rapid antibiotic susceptibility testing diagnostics.
Going concern
The directors having made due and careful enquiry are satisfied that the company has sufficient cash on hand to meet the minimum requirements of the business for the next 12 months. The directors therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result, the directors have continued to adopt the going concern basis of accounting in preparing the financial statements.
Small companies provision statement
This report has 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.
Approved by the
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Microplate DX Limited
Profit and Loss Account for the Year Ended 30 April 2024
Note |
2024 |
2023 |
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Turnover |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating loss |
(1,500,735) |
(318,930) |
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Interest payable and similar expenses |
( |
( |
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Loss before tax |
( |
( |
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Loss for the financial year |
( |
( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Microplate DX Limited
(Registration number: SC706330)
Balance Sheet as at 30 April 2024
Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
173 |
137 |
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Share premium reserve |
2,859,942 |
798,714 |
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Retained earnings |
(1,823,696) |
(321,211) |
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Shareholders' funds |
1,036,419 |
477,640 |
For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
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.
Approved and authorised by the
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Microplate DX Limited
Statement of Changes in Equity for the Year Ended 30 April 2024
Share capital |
Share premium |
Retained earnings |
Total |
|
At 1 May 2023 |
|
|
( |
|
Loss for the year |
- |
- |
( |
( |
New share capital subscribed |
|
|
- |
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At 30 April 2024 |
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|
( |
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Share capital |
Share premium |
Retained earnings |
Total |
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At 1 May 2022 |
|
|
( |
|
Loss for the year |
- |
- |
( |
( |
New share capital subscribed |
|
|
- |
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At 30 April 2023 |
137 |
798,714 |
(321,211) |
477,640 |
Microplate DX Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
These financial statements were authorised for issue by the
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 abridged 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 financial statements have 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 and provision of services 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.
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:
Microplate DX Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Asset class |
Depreciation method and rate |
Plant and machinery |
4 years straight line |
Office equipment |
3 years straight line |
Furnishings and fittings |
3 years straight line |
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:
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 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.
Microplate DX Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Loss before tax |
Arrived at after charging/(crediting)
2024 |
2023 |
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Depreciation expense |
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Intangible assets |
Trademarks, patents and licenses |
Total |
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Cost or valuation |
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At 1 May 2023 |
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Additions internally developed |
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At 30 April 2024 |
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Amortisation |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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The aggregate amount of research and development expenditure recognised as an expense during the period is £
Microplate DX Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Tangible assets |
Furniture, fittings and equipment |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 May 2023 |
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Additions |
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At 30 April 2024 |
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Depreciation |
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At 1 May 2023 |
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Charge for the year |
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At 30 April 2024 |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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Debtors |
Current |
2024 |
2023 |
Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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- |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Microplate DX Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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173 |
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137 |
Loans and borrowings |
2024 |
2023 |
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Non-current loans and borrowings |
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Other borrowings |
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2024 |
2023 |
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Current loans and borrowings |
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Other borrowings |
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