Stroma Therapeutics Limited SC657504 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is Research and experimental development on biotechnology Digita Accounts Production Advanced 6.30.9574.0 true true SC657504 2023-07-01 2024-06-30 SC657504 2024-06-30 SC657504 core:CurrentFinancialInstruments 2024-06-30 SC657504 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 SC657504 core:PatentsTrademarksLicencesConcessionsSimilar 2024-06-30 SC657504 bus:SmallEntities 2023-07-01 2024-06-30 SC657504 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC657504 bus:FilletedAccounts 2023-07-01 2024-06-30 SC657504 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 SC657504 bus:RegisteredOffice 2023-07-01 2024-06-30 SC657504 bus:Director1 2023-07-01 2024-06-30 SC657504 bus:Director2 2023-07-01 2024-06-30 SC657504 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC657504 core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-07-01 2024-06-30 SC657504 core:PatentsTrademarksLicencesConcessionsSimilar 2023-07-01 2024-06-30 SC657504 countries:Scotland 2023-07-01 2024-06-30 SC657504 2023-06-30 SC657504 core:PatentsTrademarksLicencesConcessionsSimilar 2023-06-30 SC657504 2022-07-01 2023-06-30 SC657504 2023-06-30 SC657504 core:CurrentFinancialInstruments 2023-06-30 SC657504 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 SC657504 core:PatentsTrademarksLicencesConcessionsSimilar 2023-06-30 iso4217:GBP xbrli:pure

Registration number: SC657504

Stroma Therapeutics Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Stroma Therapeutics Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Stroma Therapeutics Limited

Company Information

Directors

A.B. Courtney

Dr P.A. De Sousa

Registered office

272 Bath Street
Glasgow
G2 4JR

Accountants

23 MR Limited
23 Morwick Road
Warkworth
Morpeth
Northumberland
NE65 0TG

 

Stroma Therapeutics Limited

(Registration number: SC657504)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1,708

1,967

Current assets

 

Debtors

5

595

10,691

Cash at bank and in hand

 

14,423

821

 

15,018

11,512

Creditors: Amounts falling due within one year

6

(23,874)

(28,024)

Net current liabilities

 

(8,856)

(16,512)

Net liabilities

 

(7,148)

(14,545)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(7,150)

(14,547)

Shareholders' deficit

 

(7,148)

(14,545)

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 March 2025 and signed on its behalf by:
 

.........................................
A.B. Courtney
Director

 

Stroma Therapeutics Limited

Notes to the Unaudited Financial Statements for the
Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
272 Bath Street
Glasgow
G2 4JR
Scotland

These financial statements were authorised for issue by the Board on 28 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have considered a period of at least twelve months from the date on which these financial statements have been signed and having considered all information available to them, believe it appropriate to prepare financial statements on a going concern basis. The directors are satisfied that it has adequate resources to continue to operate for the foreseeable future.

Furthermore, the directors acknowledge the net liability position of the company at the balance sheet date. This is primarily due to the amounts owed to the directors. The directors have confirmed that they do not intend to recall these amounts to the detriment of any other creditor within the next twelve months. The directors have also confirmed their support for the company in meeting it's liabilities where necessary over the next twelve months.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

 

Stroma Therapeutics Limited

Notes to the Unaudited Financial Statements for the
Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Intangible assets

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents and licences

10%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Stroma Therapeutics Limited

Notes to the Unaudited Financial Statements for the
Year Ended 30 June 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 July 2023

2,594

2,594

At 30 June 2024

2,594

2,594

Amortisation

At 1 July 2023

627

627

Amortisation charge

259

259

At 30 June 2024

886

886

Carrying amount

At 30 June 2024

1,708

1,708

At 30 June 2023

1,967

1,967

5

Debtors

2024
£

2023
£

Other debtors

595

10,691

595

10,691

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,581

2,551

Accruals and deferred income

500

3,180

Other creditors

19,793

22,293

23,874

28,024