| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
| FOR |
| MANX GENERICS LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 1 APRIL 2023 TO 30 SEPTEMBER 2024 |
| FOR |
| MANX GENERICS LIMITED |
| MANX GENERICS LIMITED (REGISTERED NUMBER: 09697414) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the period 1 April 2023 to 30 September 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| MANX GENERICS LIMITED |
| COMPANY INFORMATION |
| for the period 1 April 2023 to 30 September 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 1110 Elliott Court |
| Coventry Business Park |
| Herald Avenue |
| Coventry |
| West Midlands |
| CV5 6UB |
| MANX GENERICS LIMITED (REGISTERED NUMBER: 09697414) |
| BALANCE SHEET |
| 30 September 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| 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. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| MANX GENERICS LIMITED (REGISTERED NUMBER: 09697414) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the period 1 April 2023 to 30 September 2024 |
| 1. | STATUTORY INFORMATION |
| Manx Generics Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are prepared on the going concern basis. The company is dependent on the support of the directors and connected companies. The directors have confirmed this support. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Taxation |
| Taxation for the period 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. |
| 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 period 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. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was NIL (2023 - NIL). |
| MANX GENERICS LIMITED (REGISTERED NUMBER: 09697414) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the period 1 April 2023 to 30 September 2024 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| VAT |
| Deferred tax asset |
| Tax losses carried forward |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Other creditors |
| Accrued expenses |
| 6. | RELATED PARTY DISCLOSURES |
| During the year, the company paid management charges of £337,515 (2023: £225,000) to Manx Healthcare Limited, a 50% owner of the company. |
| During the year, the company received income of £511,368 (2023: £328,094) for sale of product under license to Manx Healthcare Limited. |