Acorah Software Products - Accounts Production 16.1.300 false true false 8 May 2023 31 May 2024 31 May 2024 14854722 Mr David Klug Mr Finn Albrechtsen Mr John Hamilton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14854722 2023-05-07 14854722 2024-05-31 14854722 2023-05-08 2024-05-31 14854722 frs-core:CurrentFinancialInstruments 2024-05-31 14854722 frs-core:Non-currentFinancialInstruments 2024-05-31 14854722 frs-core:ComputerEquipment 2024-05-31 14854722 frs-core:ComputerEquipment 2023-05-08 2024-05-31 14854722 frs-core:ComputerEquipment 2023-05-07 14854722 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-08 2024-05-31 14854722 frs-core:OtherResidualIntangibleAssets 2024-05-31 14854722 frs-core:OtherResidualIntangibleAssets 2023-05-08 2024-05-31 14854722 frs-core:OtherResidualIntangibleAssets 2023-05-07 14854722 frs-core:PlantMachinery 2024-05-31 14854722 frs-core:PlantMachinery 2023-05-08 2024-05-31 14854722 frs-core:PlantMachinery 2023-05-07 14854722 frs-core:ShareCapital 2024-05-31 14854722 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 14854722 frs-bus:PrivateLimitedCompanyLtd 2023-05-08 2024-05-31 14854722 frs-bus:FilletedAccounts 2023-05-08 2024-05-31 14854722 frs-bus:SmallEntities 2023-05-08 2024-05-31 14854722 frs-bus:AuditExempt-NoAccountantsReport 2023-05-08 2024-05-31 14854722 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-08 2024-05-31 14854722 frs-bus:Director1 2023-05-08 2024-05-31 14854722 frs-bus:Director2 2023-05-08 2024-05-31 14854722 frs-bus:Director3 2023-05-08 2024-05-31 14854722 frs-countries:EnglandWales 2023-05-08 2024-05-31
Registered number: 14854722
Panacea Diagnostics Ltd
Unaudited Financial Statements
For the Period 8 May 2023 to 31 May 2024
Senplen Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14854722
31 May 2024
Notes £ £
FIXED ASSETS
Intangible Assets 4 71,962
Tangible Assets 5 19,180
91,142
CURRENT ASSETS
Debtors 6 8,427
Cash at bank and in hand 25,321
33,748
Creditors: Amounts Falling Due Within One Year 7 (12,360 )
NET CURRENT ASSETS (LIABILITIES) 21,388
TOTAL ASSETS LESS CURRENT LIABILITIES 112,530
Creditors: Amounts Falling Due After More Than One Year 8 (184,800 )
NET LIABILITIES (72,270 )
CAPITAL AND RESERVES
Called up share capital 9 10
Profit and Loss Account (72,280 )
SHAREHOLDERS' FUNDS (72,270)
Page 1
Page 2
For the period ending 31 May 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.
On behalf of the board
Mr David Klug
Director
08/02/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Panacea Diagnostics Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14854722 . The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are capitalised at cost less accumulated amortisation and accumulated impairment.  Intangible assets are amortised on a straight line basis over their estimated useful life. The carrying value of intangible assets is reviewed for impairment if events or changes in circumstances indicate the carrying value might not be recoverable. The useful economic lives of intangible assets are 20 years.
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 SL - 5 years
Computer Equipment SL - 2 years
2.4. Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.  An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Financial assets and liabilities
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs),  unless the arrangement constitutes a financing transaction.
If an arrangement constitues a fincancing transactions, the financial asset ot financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Debt instruments which meet the following conditions of being 'basic' financial instruments as defined in paragraph 11.9 of FRS 102 are subsequently measured at amortised cost using the effective interest method.
Debt instruments that have no stated interest rate (and do not constitute financing transaction) and are classified as payable or receivable within one year are initially measured at an undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 3
3
Page 3
Page 4
4. Intangible Assets
Other
£
Cost
As at 8 May 2023 -
Additions 75,750
As at 31 May 2024 75,750
Amortisation
As at 8 May 2023 -
Provided during the period 3,788
As at 31 May 2024 3,788
Net Book Value
As at 31 May 2024 71,962
As at 8 May 2023 -
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 8 May 2023 - - -
Additions 26,409 800 27,209
As at 31 May 2024 26,409 800 27,209
Depreciation
As at 8 May 2023 - - -
Provided during the period 7,629 400 8,029
As at 31 May 2024 7,629 400 8,029
Net Book Value
As at 31 May 2024 18,780 400 19,180
As at 8 May 2023 - - -
6. Debtors
31 May 2024
£
Due within one year
Other debtors 8,427
7. Creditors: Amounts Falling Due Within One Year
31 May 2024
£
Trade creditors 12,360
Page 4
Page 5
8. Creditors: Amounts Falling Due After More Than One Year
31 May 2024
£
Other loans 184,800
9. Share Capital
31 May 2024
£
Allotted, Called up and fully paid 10
Page 5