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REGISTERED NUMBER: 09180762 (England and Wales)















Unaudited Financial Statements

for the Period 1 August 2022 to 30 December 2023

for

Trecento Diagnostics Ltd

Trecento Diagnostics Ltd (Registered number: 09180762)






Contents of the Financial Statements
for the Period 1 August 2022 to 30 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Trecento Diagnostics Ltd

Company Information
for the Period 1 August 2022 to 30 December 2023







DIRECTORS: M L Pinder
C A P Sessions
K Wills
P C O'Hara





REGISTERED OFFICE: The Maltings
East Tyndall Street
Cardiff
CF24 5EZ





REGISTERED NUMBER: 09180762 (England and Wales)





ACCOUNTANTS: Ampersand Partnership Limited
Chancery House
41a Hanger Hill
Weybridge
Surrey
KT13 9XZ

Trecento Diagnostics Ltd (Registered number: 09180762)

Abridged Balance Sheet
30 December 2023

30.12.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 66,397 66,397
Tangible assets 5 - 469
66,397 66,866

CURRENT ASSETS
Stocks 20,262 28,945
Debtors 1,250 7,408
Cash at bank and in hand 311 435
21,823 36,788
CREDITORS
Amounts falling due within one year 246,402 131,659
NET CURRENT LIABILITIES (224,579 ) (94,871 )
TOTAL ASSETS LESS CURRENT LIABILITIES (158,182 ) (28,005 )

CREDITORS
Amounts falling due after more than one
year

226,517

343,908
NET LIABILITIES (384,699 ) (371,913 )

CAPITAL AND RESERVES
Called up share capital 652 652
Share premium 604,248 604,248
Retained earnings (989,599 ) (976,813 )
SHAREHOLDERS' FUNDS (384,699 ) (371,913 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Trecento Diagnostics Ltd (Registered number: 09180762)

Abridged Balance Sheet - continued
30 December 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the period ended 30 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 February 2025 and were signed on its behalf by:





M L Pinder - Director


Trecento Diagnostics Ltd (Registered number: 09180762)

Notes to the Financial Statements
for the Period 1 August 2022 to 30 December 2023

1. STATUTORY INFORMATION

Trecento Diagnostics Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

At the balance sheet date the company had net liabilities of £384,699 (2022: £371,913). The financial statements have been prepared on the going concern basis which assumes that the company will continue as a going concern for the foreseeable future. The validity of this assumption depends on the continuing support of the company creditors to provide adequate financial support and by not seeking repayment of amounts owed to them. The directors have no reason to believe this support is not forthcoming and accordingly believe it appropriate to prepare the financial statements on the going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Patents and licences are initially recognised at cost and are subsequently carried at cost less accumulated amortisation. These costs are amortised to the profit and loss account once the asset has come into use, on a straight line basis over 3 years, which is the shorter of their estimated useful lives and periods of contractual rights.

Expenditure on pure and applied research is written off in the period of expenditure through the profit and loss account.

Development expenditure is written off in the period of expenditure except in the following circumstances when it is deferred to future periods:
(a) there is a clearly defined project; and
(b) the related expenditure is separately identifiable; and
(c) the outcome of such a project has been assessed with reasonable certainty as to:
(i) its technical feasibility; and
(ii) its ultimate commercial viability considered in the light of factors such as likely market conditions (including competing products), public opinion, consumer and environmental legislation; and
(d) the aggregate of the deferred development costs, any further development costs, and related production, selling and administration costs is reasonably expected to be exceeded by related future sales or other revenues; and
(e) adequate resources exist, or are reasonably expected to be available, to enable the project to be completed and to provide any consequential increases in working capital.

Deferral of development expenditure is applied to all development projects that meet the above criteria.

Deferred development costs are accounted for under Intangible Fixed Assets and amortised. The amortisation commences with the commercial production or application of the product, service, process or system and is allocated on a systematic basis to each accounting period, by reference to either the sale or use of the product, service, process or system or the period over which these are expected to be sold or used.

Trecento Diagnostics Ltd (Registered number: 09180762)

Notes to the Financial Statements - continued
for the Period 1 August 2022 to 30 December 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2022 - 3 ) .

Trecento Diagnostics Ltd (Registered number: 09180762)

Notes to the Financial Statements - continued
for the Period 1 August 2022 to 30 December 2023

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022
and 30 December 2023 271,121
AMORTISATION
At 1 August 2022
and 30 December 2023 204,724
NET BOOK VALUE

At 30 December 2023 66,397
At 31 July 2022 66,397

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022
and 30 December 2023 4,353
DEPRECIATION
At 1 August 2022 3,884
Charge for period 469
At 30 December 2023 4,353
NET BOOK VALUE
At 30 December 2023 -
At 31 July 2022 469

6. SECURED DEBTS

Included within other creditors are loans in the sum of £194,145 (2022:£194,145) which are secured.

Trecento Diagnostics Ltd (Registered number: 09180762)

Notes to the Financial Statements - continued
for the Period 1 August 2022 to 30 December 2023

7. RELATED PARTY DISCLOSURES

C Sessions - director

During the year the company paid fees of £nil (2022: £46,483) to C Sessions for services under a service agreement. At the year end £8,973 (2022: £12,997) was owing to C Sessions.

M Pinder - director

During the year the company paid fees of £nil (2022: £20,100) to M Pinder for services under a service agreement. At the year end £14,523 (2022: £15,199) was owing to M Pinder.

K Wills - director

During the year K Wills advanced a loan to the company in the sum of £nil (2022: £20,000). At the year end £95,000 (2022: £95,000) was owed to K Wills by the company and included within creditors falling due after more than one year.

P C O'Hara - director

During the year P C O'Hara advanced a loan to the company in the sum of £nil (2022: £20,000). At the year end £95,000 (2022: £95,000) was owed to P C O'Hara by the company and included within creditors falling due after more than one year.

Development Bank of Wales - a shareholder

During the year the company incurred fees of £3,417 (2022: £4,600) and interest of £8,892 (2022: £19,338) on a loan from Development Bank of Wales. At the year end £194,145 (2022: £194,145) was owed to Development Bank of Wales by the company and included within creditors falling due within and after more than one year.