REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2024 |
for |
Chromatwist Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2024 |
for |
Chromatwist Limited |
Chromatwist Limited (Registered number: 11723136) |
Contents of the Financial Statements |
for the Year Ended 31 December 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chromatwist Limited |
Company Information |
for the Year Ended 31 December 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
14 Harvey Road |
Bedford |
Bedfordshire |
MK41 9LF |
Chromatwist Limited (Registered number: 11723136) |
Balance Sheet |
31 December 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
Chromatwist Limited (Registered number: 11723136) |
Balance Sheet - continued |
31 December 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Chromatwist Limited (Registered number: 11723136) |
Notes to the Financial Statements |
for the Year Ended 31 December 2024 |
1. | STATUTORY INFORMATION |
Chromatwist Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company has made significant product development progress in the year and is working with a number of potential major customers with the aim of commercialisation. Supported by this positive progress the company is in discussions with existing shareholders and potential new investors to obtain further investment during 2025. The directors therefore conclude that there are no material uncertainties which may cast significant doubt regarding the company's ability to continue as a going concern. Accordingly, the company has adopted the going concern basis in preparing the annual report and accounts. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery | - |
Government grants |
Grants that are received in respect of expenses already incurred are recognised in the income statement in the period in which the relevant expenses are incurred. |
Taxation |
Taxation for the year 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. |
Chromatwist Limited (Registered number: 11723136) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
2. | ACCOUNTING POLICIES - continued |
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 year 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. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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 year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 January 2024 |
Additions |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
Chromatwist Limited (Registered number: 11723136) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Trade creditors |
Social security and other taxes |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Other creditors | 141,750 | - |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.12.24 | 31.12.23 |
£ | £ |
Within one year |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.24 | 31.12.23 |
value: | £ | £ |
Ordinary | £0.00 | 1 | 655 | 655 |
10. | RELATED PARTY DISCLOSURES |
Other creditors payable after more than 12 months represents an amount owed to the University of Birmingham for services rendered. Payment for these services has been deferred and is not expected to be payable for at least twelve months. The University of Birmingham is a shareholder of Chromatwist Limited. |
Chromatwist Limited (Registered number: 11723136) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
11. | POST BALANCE SHEET EVENTS |
Discussions with a number of large potential customers in the life sciences technologies industry are ongoing concerning the development of the company's products for the global flow cytometry market. The aim of these discussions is to move to formalise collaboration and to generate future orders. |
12. | SHARE-BASED PAYMENT TRANSACTIONS |
The company has implemented equity-settled share-based payment plans. |
No share options were granted during the year. To date, the company has granted 49,500 share options to staff and other individuals. Options vest on a combination of time and other milestones. |
The directors have considered recognising a charge in respect of share based payments. However the directors have agreed that any such charge is not material to the accounts and therefore it has not been included. |