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Company Information | 1 |
Directors' Report | 2—3 |
Profit and Loss Account | 4 |
Balance Sheet | 5—6 |
Statement of Changes in Equity | 7 |
Notes to the Financial Statements | 8—20 |
Directors |
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Company Number |
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Registered Office | Bic Wellcome Genome Campus |
Hinxton | |
Cambridge | |
CB10 1DR | |
Accountants |
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Splash Lane | |
Huntingdon | |
Cambridgeshire | |
PE28 2AF | |
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Resigned |
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Resigned |
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Appointed |
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Director
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2024 | 2023 as restated |
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Notes | £ | £ | ||
TURNOVER |
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Cost of sales |
( |
( |
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GROSS PROFIT |
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Administrative expenses |
( |
( |
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Other operating income |
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OPERATING LOSS | 3 |
( |
( |
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Fair value losses |
( |
( |
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Other interest receivable and similar income |
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Interest payable and similar charges | 5 |
( |
( |
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LOSS BEFORE TAXATION |
( |
( |
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Tax on Loss | 6 |
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LOSS AFTER TAXATION BEING LOSS FOR THE FINANCIAL YEAR |
( |
( |
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2024 | 2023 as restated |
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Intangible Assets | 7 |
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Tangible Assets | 8 |
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Investments | 9 |
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CURRENT ASSETS | |||||
Debtors | 10 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 11 |
( |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Creditors: Amounts Falling Due After More Than One Year | 12 |
( |
( |
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NET LIABILITIES |
( |
( |
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CAPITAL AND RESERVES | |||||
Called up share capital | 13 |
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Share premium account |
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Profit and Loss Account |
( |
( |
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SHAREHOLDERS' FUNDS | (2,636,773) | (389,753) | |||
Director
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Share Capital | Share Premium | Profit and Loss Account | Total | |
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£ | £ | £ | £ | |
As at 1 January 2023 |
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( |
10,594,396 |
Loss for year | - | - | (11,535,821) |
( |
Charge to equity for share based payments | - | - | 549,545 | 549,545 |
Other comprehensive income for the year | - | - |
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Total comprehensive income for the year | - | - |
( |
(10,986,276) |
Arising on shares issued during the period |
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2,012 | - | 2,127 |
As at 31 December 2023 and 1 January 2024 as restated |
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( |
(389,753) |
Loss for year | - | - | (2,492,304) |
( |
Charge to equity for share based payments | - | - | 244,813 | 244,813 |
Other comprehensive income for the year | - | - |
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Total comprehensive income for the year | - | - |
( |
(2,247,491) |
Arising on shares issued during the period |
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424 | - | 471 |
As at 31 December 2024 |
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( |
(2,636,773) |
Plant & Machinery |
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Fixtures & Fittings |
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Computer Equipment |
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2024 | 2023 as restated |
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£ | £ | ||
Bad debts | 851 | 41,332 | |
Research and Development Costs |
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Depreciation of tangible fixed assets |
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Amortisation of intangible fixed assets |
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2024 | 2023 as restated |
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£ | £ | ||
Convertible loan interest |
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Foreign exchange charges |
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340,578 | 57,115 | ||
Tax Rate | 2024 | 2023 as restated |
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2024 | 2023 | £ | £ | ||
Current tax | |||||
UK Corporation Tax | 25.0% | 23.5% |
( |
( |
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Prior period adjustment |
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Foreign tax |
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( |
( |
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Total tax charge for the period |
( |
( |
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2024 | 2023 | ||||
£ | £ | ||||
Profit before tax | (3,254,073) | (12,313,760) | |||
Breakdown of tax charge is: | |||||
Tax on profit at 25% (UK standard rate) |
( |
( |
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Expenses not deductible for tax purposes |
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Research and Development tax credit |
( |
( |
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Prior period adjustment |
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Tax losses unutilised carried forward |
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Overseas tax suffered/expensed |
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Total tax charge for the period | (761,769) | (777,939) | |||
Software | |||
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£ | |||
Cost | |||
As at 1 January 2024 |
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As at 31 December 2024 |
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Amortisation | |||
As at 1 January 2024 |
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Provided during the period |
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As at 31 December 2024 |
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Net Book Value | |||
As at 31 December 2024 |
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As at 1 January 2024 |
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Fixtures & Fittings | Computer Equipment | Total | |
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£ | £ | £ | |
Cost | |||
As at 1 January 2024 |
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Disposals |
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( |
( |
As at 31 December 2024 |
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Depreciation | |||
As at 1 January 2024 |
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Provided during the period |
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Disposals |
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( |
( |
As at 31 December 2024 |
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Net Book Value | |||
As at 31 December 2024 |
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As at 1 January 2024 |
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Subsidiaries | |
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£ | |
Cost | |
As at 1 January 2024 |
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As at 31 December 2024 |
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Provision | |
As at 1 January 2024 |
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Impairment losses |
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As at 31 December 2024 |
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Net Book Value | |
As at 31 December 2024 |
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As at 1 January 2024 |
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Subsidiary undertakings
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Country of incorporation
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Class of share
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%
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Congenica Inc.
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United States
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Ordinary
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100%
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Congenica (Hong Kong) Limited
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Hong Kong
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Ordinary
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100%
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2024 | 2023 as restated |
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£ | £ | ||
Due within one year | |||
Trade debtors |
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Amounts owed by group undertakings | 888 | 324,206 | |
Other debtors | 997,333 | 1,545,448 | |
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2024 | 2023 as restated |
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£ | £ | ||
Trade creditors |
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Amounts owed to group undertakings | - |
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Other creditors | 340,574 | 1,529,990 | |
Taxation and social security |
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2024 | 2023 as restated |
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£ | £ | ||
Convertible loan notes |
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Year
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Options
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Lapsed/Forfeit
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Exercised
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Total
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2024
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50,000
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(35,417)
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(14,583)
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-
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2023
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332,500
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(5,406)
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(2,094)
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325,000
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2022
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1,570,000
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(7,760)
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(8,740)
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1,553,000
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2021
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846,000
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(4,604)
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(9,396)
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832,000
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2020
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19,500
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-
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-
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19,500
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2019
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542,550
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-
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(12,300)
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530,250
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2018
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75,000
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-
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-
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75,000
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2017
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172,500
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-
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-
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172,500
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2016
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600,000
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-
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-
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600,000
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Total
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4,208,050
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(53,187)
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(47,113)
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4,107,750
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At 1 January 2023 (Transition Date)
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At 31 December 2023 (End of Comparative Period)
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£
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£
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Equity under IFRS
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10,594,396
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(392,936)
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Adjustments:
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Lease accounting adjustment (IFRS 16 to FRS 102 Section 20)
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(4,175)
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4,161
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Tax adjustment
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-
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(979)
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Equity under FRS 102
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10,590,221
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(389,753)
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Year Ended 31 December 2023
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£
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Loss under IFRS
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(11,539,004)
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Adjustments:
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Lease accounting adjustment (IFRS 16 to FRS 102 Section 20)
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4,161
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Tax adjustment
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(979)
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Loss under FRS 102
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(11,535,821)
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