Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsefalse2024-02-01No description of principal activity68truefalse 09600771 2024-02-01 2024-12-31 09600771 2023-02-01 2024-01-31 09600771 2024-12-31 09600771 2024-01-31 09600771 2023-02-01 09600771 c:Director3 2024-02-01 2024-12-31 09600771 d:PlantMachinery 2024-02-01 2024-12-31 09600771 d:PlantMachinery 2024-12-31 09600771 d:PlantMachinery 2024-01-31 09600771 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-02-01 2024-12-31 09600771 d:OfficeEquipment 2024-02-01 2024-12-31 09600771 d:OfficeEquipment 2024-12-31 09600771 d:OfficeEquipment 2024-01-31 09600771 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-02-01 2024-12-31 09600771 d:ComputerEquipment 2024-02-01 2024-12-31 09600771 d:ComputerEquipment 2024-12-31 09600771 d:ComputerEquipment 2024-01-31 09600771 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-02-01 2024-12-31 09600771 d:OwnedOrFreeholdAssets 2024-02-01 2024-12-31 09600771 d:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 09600771 d:PatentsTrademarksLicencesConcessionsSimilar 2024-01-31 09600771 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 09600771 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-31 09600771 d:CurrentFinancialInstruments 2024-12-31 09600771 d:CurrentFinancialInstruments 2024-01-31 09600771 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 09600771 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 09600771 d:ShareCapital 2024-02-01 2024-12-31 09600771 d:ShareCapital 2024-12-31 09600771 d:ShareCapital 2023-02-01 2024-01-31 09600771 d:ShareCapital 2024-01-31 09600771 d:ShareCapital 2023-02-01 09600771 d:SharePremium 2024-02-01 2024-12-31 09600771 d:SharePremium 2024-12-31 09600771 d:SharePremium 2023-02-01 2024-01-31 09600771 d:SharePremium 2024-01-31 09600771 d:SharePremium 2023-02-01 09600771 d:RetainedEarningsAccumulatedLosses 2024-02-01 2024-12-31 09600771 d:RetainedEarningsAccumulatedLosses 2024-12-31 09600771 d:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 09600771 d:RetainedEarningsAccumulatedLosses 2024-01-31 09600771 d:RetainedEarningsAccumulatedLosses 2023-02-01 09600771 c:OrdinaryShareClass1 2024-02-01 2024-12-31 09600771 c:OrdinaryShareClass1 2024-12-31 09600771 c:OrdinaryShareClass1 2024-01-31 09600771 c:FRS102 2024-02-01 2024-12-31 09600771 c:AuditExempt-NoAccountantsReport 2024-02-01 2024-12-31 09600771 c:FullAccounts 2024-02-01 2024-12-31 09600771 c:PrivateLimitedCompanyLtd 2024-02-01 2024-12-31 09600771 d:WithinOneYear 2024-12-31 09600771 d:WithinOneYear 2024-01-31 09600771 d:BetweenOneFiveYears 2024-12-31 09600771 d:BetweenOneFiveYears 2024-01-31 09600771 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2024-02-01 2024-12-31 09600771 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2024-02-01 2024-12-31 09600771 13 2024-02-01 2024-12-31 09600771 d:ExternallyAcquiredIntangibleAssets 2024-02-01 2024-12-31 09600771 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2024-02-01 2024-12-31 09600771 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2024-02-01 2024-12-31 09600771 e:PoundSterling 2024-02-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09600771









CAMBRIDGE MOLECULAR DIAGNOSTICS LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

 
CAMBRIDGE MOLECULAR DIAGNOSTICS LTD
REGISTERED NUMBER: 09600771

BALANCE SHEET
AS AT 31 DECEMBER 2024

31 December
31 January
2024
2024
Note
£
£

Fixed assets
  

Intangible assets
 4 
2,375,389
1,729,612

Tangible assets
 5 
24,222
21,446

  
2,399,611
1,751,058

Current assets
  

Stocks
 6 
2,789
2,789

Debtors: amounts falling due within one year
 7 
210,007
174,965

Cash at bank and in hand
  
39,977
418,851

  
252,773
596,605

Creditors: amounts falling due within one year
 8 
(357,620)
(43,968)

Net current (liabilities)/assets
  
 
 
(104,847)
 
 
552,637

Total assets less current liabilities
  
2,294,764
2,303,695

  

Net assets
  
2,294,764
2,303,695


Capital and reserves
  

Called up share capital 
 9 
1,169
978

Share premium account
  
3,394,341
3,257,774

Profit and loss account
  
(1,100,746)
(955,057)

  
2,294,764
2,303,695


Page 1

 
CAMBRIDGE MOLECULAR DIAGNOSTICS LTD
REGISTERED NUMBER: 09600771
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 statement of comprehensive income 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: 

B F A Shaw
Director

Date: 15 April 2025

The notes on pages 4 to 11 form part of these financial statements.

Page 2

 
CAMBRIDGE MOLECULAR DIAGNOSTICS LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 February 2023
637
1,507,804
(652,803)
855,638


Comprehensive income for the year

Loss for the year
-
-
(302,254)
(302,254)
Total comprehensive income for the year
-
-
(302,254)
(302,254)


Contributions by and distributions to owners

Shares issued during the year
341
1,749,970
-
1,750,311


Total transactions with owners
341
1,749,970
-
1,750,311



At 1 February 2024
978
3,257,774
(955,057)
2,303,695


Comprehensive income for the Period

Loss for the Period
-
-
(145,689)
(145,689)
Total comprehensive income for the Period
-
-
(145,689)
(145,689)


Contributions by and distributions to owners

Shares issued during the Period
191
136,567
-
136,758


Total transactions with owners
191
136,567
-
136,758


At 31 December 2024
1,169
3,394,341
(1,100,746)
2,294,764


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
CAMBRIDGE MOLECULAR DIAGNOSTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

1.


General information

Cambridge Molecular Diagnostics Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 09600771 and registered office address is 25 Science Park, Bio-Innovation Centre, Milton Road, Cambridge, CB4 0FW.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered the likely trading conditions for a period of twelve months from the date of our approval of these accounts. They do not consider that a material uncertainty about our going concern status currently exists, and as such the accounts have been prepared on this basis.

  
2.3

Foreign currency translation

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Income and Retained Earnings except when deferred in other comprehensive income as qualifying cash flow hedges.

  
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are yet to be amortised as commercial revenue generation has not started. 

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Page 4

 
CAMBRIDGE MOLECULAR DIAGNOSTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
CAMBRIDGE MOLECULAR DIAGNOSTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
33%
Office equipment
-
33%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

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.

Page 6

 
CAMBRIDGE MOLECULAR DIAGNOSTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.14

Convertible debt

The proceeds received on issue of the Company's convertible debt are allocated into their liability and equity components and presented separately in the Balance Sheet.

The amount initially attributed to the debt component equals the discounted cash flows using a market rate of interest that would be payable on a similar debt instrument that did not include an option to convert.

The difference between the net proceeds of the convertible debt and the amount allocated to the debt component is credited direct to equity and is not subsequently remeasured. On conversion, the debt and equity elements are credited to share capital and share premium as appropriate.

Transaction costs that relate to the issue of the instrument are allocated to the liability and equity components of the instrument in proportion to the allocation of proceeds.


3.


Employees

The average monthly number of employees, including directors, during the Period was 6 (2024 - 8).

Page 7

 
CAMBRIDGE MOLECULAR DIAGNOSTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

4.


Intangible assets






Patents
Development expenditure
Total

£
£
£



Cost


At 1 February 2024
188,462
1,595,840
1,784,302


Additions
176,706
495,373
672,079



At 31 December 2024

365,168
2,091,213
2,456,381



Amortisation


At 1 February 2024
54,690
-
54,690


Charge for the Period on owned assets
26,302
-
26,302



At 31 December 2024

80,992
-
80,992



Net book value



At 31 December 2024
284,176
2,091,213
2,375,389



At 31 January 2024
133,772
1,595,840
1,729,612



Page 8

 
CAMBRIDGE MOLECULAR DIAGNOSTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

5.


Tangible fixed assets







Plant and machinery
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 February 2024
107,776
8,202
9,192
125,170


Additions
16,325
900
1,345
18,570



At 31 December 2024

124,101
9,102
10,537
143,740



Depreciation


At 1 February 2024
91,256
6,207
6,261
103,724


Charge for the Period on owned assets
12,845
1,481
1,468
15,794



At 31 December 2024

104,101
7,688
7,729
119,518



Net book value



At 31 December 2024
20,000
1,414
2,808
24,222



At 31 January 2024
16,520
1,995
2,931
21,446


6.


Stocks

31 December
31 January
2024
2024
£
£

Raw materials and consumables
2,789
2,789

2,789
2,789


Page 9

 
CAMBRIDGE MOLECULAR DIAGNOSTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

7.


Debtors

31 December
31 January
2024
2024
£
£


Other debtors
163,604
143,393

Prepayments and accrued income
46,403
31,572

210,007
174,965



8.


Creditors: Amounts falling due within one year

31 December
31 January
2024
2024
£
£

Convertible loan
163,243
-

Trade creditors
150,962
2,708

Other taxation and social security
21,997
12,088

Other creditors
1,960
1,861

Accruals and deferred income
19,458
27,311

357,620
43,968



9.


Share capital

31 December
31 January
2024
2024
£
£
Allotted, called up and fully paid



5,846 (2024 - 4,890) Ordinary shares of £0.20 each
1,169
978


During the year the Company issued 956 Ordinary 20p shares for an aggregate consideration of £191.20.


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £11,481 (2024: £9,167). Contributions totalling £1,960 (2024: £1,860) were payable to the fund at the balance sheet date and are included in creditors.

Page 10

 
CAMBRIDGE MOLECULAR DIAGNOSTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

11.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

31 December
31 January
2024
2024
£
£


Not later than 1 year
57,900
70,290

Later than 1 year and not later than 5 years
19,320
71,363

77,220
141,653


12.


Director Advances

During the period to 31 December 2024, the company advanced its Directors £143 (2024: £nil), and repayments totaling £nil were made (2024: £nil).
A year-end balance of £803 is due from the Directors (2024: £661).

 
Page 11