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Registered number: 13510573
Awen Oncology Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
IP Tax Solutions Ltd
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 13510573
31 March 2025 31 March 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 168,970 186,971
168,970 186,971
CURRENT ASSETS
Debtors 5 239,857 179,039
Cash at bank and in hand 106,629 474,436
346,486 653,475
Creditors: Amounts Falling Due Within One Year 6 (103,546 ) (100,508 )
NET CURRENT ASSETS (LIABILITIES) 242,940 552,967
TOTAL ASSETS LESS CURRENT LIABILITIES 411,910 739,938
Creditors: Amounts Falling Due After More Than One Year 7 (45,000 ) (45,000 )
NET ASSETS 366,910 694,938
CAPITAL AND RESERVES
Called up share capital 9 11 11
Other reserves 750,000 750,000
Income Statement (383,101 ) (55,073 )
SHAREHOLDERS' FUNDS 366,910 694,938
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Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Dr R J McFarlane
Director
29/04/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Awen Oncology Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13510573 . The registered office is M-Sparc, Parc Gwyddoniaeth Menai, Gaerwen, LL60 6AG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Laboratory Equipment 5 years straight line
Fixtures & Fittings 5 years straight line
Computer Equipment 3 years straight line
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.4. Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2024: 1)
5 1
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4. Tangible Assets
Laboratory Equipment Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2024 190,615 180 - 190,795
Additions 20,775 - 4,670 25,445
As at 31 March 2025 211,390 180 4,670 216,240
Depreciation
As at 1 April 2024 3,821 3 - 3,824
Provided during the period 41,853 36 1,557 43,446
As at 31 March 2025 45,674 39 1,557 47,270
Net Book Value
As at 31 March 2025 165,716 141 3,113 168,970
As at 1 April 2024 186,794 177 - 186,971
5. Debtors
31 March 2025 31 March 2024
£ £
Due within one year
Prepayments and accrued income 106,531 123,679
Corporation tax recoverable assets 108,947 -
VAT 24,379 55,360
239,857 179,039
6. Creditors: Amounts Falling Due Within One Year
31 March 2025 31 March 2024
£ £
Trade creditors 18,105 4,377
Other taxes and social security 9,883 464
Net wages - 653
Other creditors 74,658 93,719
Accruals and deferred income 900 1,295
103,546 100,508
7. Creditors: Amounts Falling Due After More Than One Year
31 March 2025 31 March 2024
£ £
Other creditors 45,000 45,000
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8. Secured Creditors
Of the creditors the following amounts are secured.
31 March 2025 31 March 2024
£ £
Other Creditors 45,000 45,000
9. Share Capital
31 March 2025 31 March 2024
£ £
Allotted, Called up and fully paid 11 11
10. Reserves
Other reserves relate to SAFE investments in the company.
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