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Registered number: 13600022
Samphire Neuroscience Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 13600022
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 18,120 8,344
Investments 5 2,187 2,187
20,307 10,531
CURRENT ASSETS
Stocks 87,305 -
Debtors 11,385 10,453
Cash at bank and in hand 551,454 392,461
650,144 402,914
Creditors: Amounts Falling Due Within One Year (67,224 ) (23,931 )
NET CURRENT ASSETS (LIABILITIES) 582,920 378,983
TOTAL ASSETS LESS CURRENT LIABILITIES 603,227 389,514
NET ASSETS 603,227 389,514
CAPITAL AND RESERVES
Called up share capital 6 154 100
Share premium account 1,661,081 -
Other reserves - 1,117,268
Profit and Loss Account (1,058,008 ) (727,854 )
SHAREHOLDERS' FUNDS 603,227 389,514
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For the year ending 30 September 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 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 30 September 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Alexander Cook
Director
19/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
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Notes to the Abridged Financial Statements
1. General Information
Samphire Neuroscience Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13600022 . The registered office is 85 Great Portland Street, First Floor, London, W1W 7LT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on cost
Fixtures & Fittings 25% on cost
Computer Equipment 25% on cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 7)
6 7
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4. Tangible Assets
Total
£
Cost
As at 1 October 2023 11,057
Additions 13,072
As at 30 September 2024 24,129
Depreciation
As at 1 October 2023 2,713
Provided during the period 3,296
As at 30 September 2024 6,009
Net Book Value
As at 30 September 2024 18,120
As at 1 October 2023 8,344
5. Investments
Total
£
Cost
As at 1 October 2023 2,187
As at 30 September 2024 2,187
Provision
As at 1 October 2023 -
As at 30 September 2024 -
Net Book Value
As at 30 September 2024 2,187
As at 1 October 2023 2,187
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 154 100
7. Reserves
Profit and loss account
The profit and loss account includes all current and prior period retained profits and losses.
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