Company No:
Contents
DIRECTORS | M Anstey |
M Pepys | |
M Tuna (Appointed 06 February 2024) | |
G Winter |
REGISTERED OFFICE | Cambridge Innovation Capital |
22 Station Road | |
Cambridge | |
CB1 2JD | |
United Kingdom |
COMPANY NUMBER | 12217886 (England and Wales) |
CHARTERED ACCOUNTANTS | Peters Elworthy & Moore |
Salisbury House | |
Station Road | |
Cambridge | |
CB1 2LA |
Note | 2024 | 2023 | ||
£ | £ | |||
Restated - note 2 | ||||
Fixed assets | ||||
Tangible assets | 4 |
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14,418 | 4,221 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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988,071 | 1,792,907 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 730,537 | 1,778,689 | ||
Total assets less current liabilities | 744,955 | 1,782,910 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Share premium account |
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Profit and loss account | (
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Total shareholders' funds |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Immutrin Ltd (registered number:
M Anstey
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Immutrin Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Cambridge Innovation Capital, 22 Station Road, Cambridge, CB1 2JD, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The company incurred a loss for the year and as at 31 August 2024 had a negative profit and loss reserve mounting to £1,748,930 (2023 - £717,108). After making appropriate enquiries, the directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. The ability of the company to continue or grow its operations from the current level is dependent on the ability of the company to obtain additional funding to meet the working capital requirements. The directors are confident that the company will be able to raise the necessary funding to meet future working capital requirements. In the event that financing is not available the company will maintain its activities and/or put projects on hold until such time that there is future funding available. For this reason they adopt the going concern basis when preparing the financial statements. The financial statements do not include any adjustments in respect of the company not being able to continue as a going concern.
During the year the decision was made to expense the patent costs incurred by the company from 2023 onwards. This led to a restating of the prior year figures such that legal fees increased by £22,269 and the retained earnings reduced accordingly.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Plant and machinery |
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Fixtures and fittings |
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Computer equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
During the year the decision was made to expense the patent costs incurred by the company from 2023 onwards. This led to a restating of the prior year figures such that legal fees increased by £22,269 and the retained earnings reduced accordingly.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Plant and machinery | Fixtures and fittings | Computer equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 September 2023 |
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Additions |
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At 31 August 2024 |
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Accumulated depreciation | |||||||
At 01 September 2023 |
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Charge for the financial year |
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At 31 August 2024 |
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Net book value | |||||||
At 31 August 2024 |
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At 31 August 2023 |
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2024 | 2023 | ||
£ | £ | ||
Corporation tax |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Trade creditors |
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Other taxation and social security | (
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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115 | 115 | ||
205 | 205 |
Commitments
2024 | 2023 | ||
£ | £ | ||
Total future minimum lease payments under non-cancellable operating lease |
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