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Registered number: 14977315
















SCYMARIS GROUP LIMITED




FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD FROM INCORPORATION ON 3 JULY 2023 TO 31 DECEMBER 2023


































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SCYMARIS GROUP LIMITED
REGISTERED NUMBER:14977315

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
Note
£

Fixed assets
  

Investments
 4 
8,790

  
8,790

  

Creditors: amounts falling due within one year
 5 
(6,540)

  

Net liabilities
  
2,250


Capital and reserves
  

Called up share capital 
 6 
2,250


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 





Stephen Timothy Derrington
Director

Date: 4 February 2025

The notes on pages 2 to 4 form part of these financial statements.

Page 1


SCYMARIS GROUP LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM INCORPORATION ON 3 JULY 2023 ENDED 31 DECEMBER 2023

1.


GENERAL INFORMATION

Scymaris Gruop Limited (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 Brixham Laboratory, Freshwater Quarry, Brixham, TQ5 8BA, United Kingdom. The company number is 14977315.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The Going Concern status of the Company is dictated by that of its trading subsidiary, Scymaris Ltd.
The directors have assessed the Statement of Financial Position of Scymaris Ltd and likely future cash flows at the date of approving these financial statements. This assessment took account of the fact that a strategic decision was made in 2023 to invest further in the operational capacity (headcount and expansion of laboratory space) of Scymaris Ltd to support its ongoing growth and continued focus on excellent client service. The directors have a reasonable expectation that Scymaris Ltd has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

 
2.3

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.4

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


EMPLOYEES

The Company has no employees other than the directors, who did not receive any remuneration.

Page 2


SCYMARIS GROUP LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM INCORPORATION ON 3 JULY 2023 ENDED 31 DECEMBER 2023

4.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



COST


Additions
8,790



At 31 December 2023
8,790




In the period, the Company acquired 100% of the share capital of Scymaris Ltd.


5.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
£

Amounts owed to group undertakings
6,540



6.


SHARE CAPITAL

2023
£
ALLOTTED, CALLED UP AND FULLY PAID


2,025,000 A Ordinary shares shares of £0.001 each
2,025
225,000 B Ordinary shares shares of £0.001 each
225

2,250


Upon incorporation, 1 ordinary share was issued with nominal value of £1, which was paid in full on 3 July 2023.
On 5 August 2023, the 1 ordinary share was sub-divided and reclassified as 1,000 B ordinary shares each with nominal value of £0.001. No additional consideration was received at this time.
On 5 August 2023, an additional 224,000 B Ordinary shares with nominal value of £0.001 were issued and paid in full.
On 5 August 2023, 2,025,000 A Ordinary shares with nominal value of £0.001 were issued and paid in full.

Page 3


SCYMARIS GROUP LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD FROM INCORPORATION ON 3 JULY 2023 ENDED 31 DECEMBER 2023

7.


SHARE-BASED PAYMENTS

In the period, 171,875 options were issued to the employees of subsidiary Scymaris Ltd under an approved EMI scheme. The contractual life of the options is ten years and there is no cash settlement of the options. The options vest only on the condition of an exit event arising, provided the employees remain in service of Scymaris Ltd for a period of at least 12 months immediately prior to that exit event.
An additional 31,250 options were issued  to the employees of subsidiary Scymaris Ltd under an unapproved EMI scheme. The contractual life of the options is ten years and there is no cash settlement of the options. The options vest only on the condition of an exit event arising, provided the employees remain in service of Scymaris Ltd for a period of at least 12 months immediately prior to that exit event.


8.


CONTROLLING PARTY

As of 5 August 2023, the controlling party is Mr Raymond Joseph Brimble. Prior to this, since incorporation, the controlling party was Mr Stephen Timothy Derrington.


9.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the period from incorporation on 3 July 2023 ended 31 December 2023 was unqualified.

The audit report was signed on 5 February 2025 by Mark Munro FCA (Senior statutory auditor) on behalf of Bishop Fleming LLP.

Page 4