Acorah Software Products - Accounts Production 16.5.460 false true true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 13564111 Mr Jogchum Brinksma Dr David Fairen-Jimenez Ms Lluna Gallego Segrelles iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13564111 frs-core:CurrentFinancialInstruments frs-core:WithinOneYear 2024-08-31 13564111 2023-08-31 13564111 2024-08-31 13564111 2023-09-01 2024-08-31 13564111 frs-core:CurrentFinancialInstruments 2024-08-31 13564111 frs-core:ComputerEquipment 2024-08-31 13564111 frs-core:ComputerEquipment 2023-09-01 2024-08-31 13564111 frs-core:ComputerEquipment 2023-08-31 13564111 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-01 2024-08-31 13564111 frs-core:OtherResidualIntangibleAssets 2024-08-31 13564111 frs-core:OtherResidualIntangibleAssets 2023-09-01 2024-08-31 13564111 frs-core:OtherResidualIntangibleAssets 2023-08-31 13564111 frs-core:ShareCapital 2024-08-31 13564111 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 13564111 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 13564111 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 13564111 frs-bus:SmallEntities 2023-09-01 2024-08-31 13564111 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 13564111 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 13564111 frs-bus:OrdinaryShareClass1 2023-09-01 2024-08-31 13564111 frs-bus:OrdinaryShareClass1 2024-08-31 13564111 frs-bus:Director1 2023-09-01 2024-08-31 13564111 frs-bus:Director2 2023-09-01 2024-08-31 13564111 frs-bus:Director3 2023-09-01 2024-08-31 13564111 frs-countries:EnglandWales 2023-09-01 2024-08-31 13564111 frs-core:CurrentFinancialInstruments frs-core:WithinOneYear 2023-08-31 13564111 2022-08-31 13564111 2023-08-31 13564111 2022-09-01 2023-08-31 13564111 frs-core:CurrentFinancialInstruments 2023-08-31 13564111 frs-core:ShareCapital 2023-08-31 13564111 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 13564111 frs-bus:OrdinaryShareClass1 2022-09-01 2023-08-31
Registered number: 13564111
Vector Bioscience Cambridge Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Max Accountants Ltd
Ketton Suite
The King Centre
Oakham
Rutland
LE15 7WD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13564111
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 25,748 -
Tangible Assets 5 6,483 889
32,231 889
CURRENT ASSETS
Debtors 6 171,269 29,776
Cash at bank and in hand 213,083 143,677
384,352 173,453
Creditors: Amounts Falling Due Within One Year 7 (383,328 ) (190,139 )
NET CURRENT ASSETS (LIABILITIES) 1,024 (16,686 )
TOTAL ASSETS LESS CURRENT LIABILITIES 33,255 (15,797 )
NET ASSETS/(LIABILITIES) 33,255 (15,797 )
CAPITAL AND RESERVES
Called up share capital 9 106 100
Profit and Loss Account 33,149 (15,897 )
SHAREHOLDERS' FUNDS 33,255 (15,797)
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For the year ending 31 August 2024 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 Profit and Loss Account.
On behalf of the board
Ms Lluna Gallego Segrelles
Director
29 August 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Vector Bioscience Cambridge Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13564111 . The registered office is 20-22 Wenlock Road, London, N1 7GU.
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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. Therefore the financial statements have been prepared on a going concern basis which assumes the Company will continue in operational existence for the foreseeable future. 
The Company is involved in research and development activities and is working towards achieving a sustainable revenue generating activity. The directors have considered the basis of the financial statements and are satisfied that a combination of business growth and further investment commitments will enable the Company to meet its liabilities as they fall due.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets include Patents. It is amortised to the profit and loss account over its estimated economic life of 10 years.
2.4. 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:
Computer Equipment Straight line over 3 years
2.5. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price including transaction costs.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities.
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2.7. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the profit / loss before taxation.
2.8. Taxation
Tax is recognised in profit or loss except that a charge is attributable to an item of income and expense recognised as other comphrehensive income or to an item recognised directly in equity is also recognised in other comphrehensive 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.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.10. Government Grant
Government grants are recognised in the profit and loss account 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 profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account 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 profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.11. 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 subsequently amortised on a straight-line basis over their useful economic lives. 
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. 
2.12. Convertible Debt
Compound financial instruments issued by the Company comprise convertible loan notes that can be converted to share capital at the option of the holder. The interest on the loan notes is compounding annually and as such the number of shares to be issued will vary with changes in the fair value. 
Due to the varying number of shares to be issued the loan notes are treated as liabilities and not split between equity and liabilities. The liability is initially and subsequently measured at fair value, with the fair value movements recognised in the Statement of Comprehensive Income. 
Transaction costs that relate to the issue of the instrument are expensed to the Statement of Comprehensive Income.  
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 3)
6 3
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4. Intangible Assets
Other - Patents
£
Cost
As at 1 September 2023 -
Additions 27,603
As at 31 August 2024 27,603
Amortisation
As at 1 September 2023 -
Provided during the period 1,855
As at 31 August 2024 1,855
Net Book Value
As at 31 August 2024 25,748
As at 1 September 2023 -
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 September 2023 1,067
Additions 7,585
As at 31 August 2024 8,652
Depreciation
As at 1 September 2023 178
Provided during the period 1,991
As at 31 August 2024 2,169
Net Book Value
As at 31 August 2024 6,483
As at 1 September 2023 889
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 112,437 14,976
Other debtors 1,140 100
Corporation tax recoverable 44,067 13,724
VAT 13,625 976
171,269 29,776
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 62,854 1,050
Convertible loans 193,853 171,392
Other taxes and social security 11,807 5,774
Other creditors 101,813 423
Accruals and deferred income 3,001 1,500
Directors' loan accounts 10,000 10,000
383,328 190,139
8. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year or on demand:
Other loans 193,853 171,392
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1,063,829 Ordinary Shares of £ 0.0001 each 106 100
Shares issued during the period: £
63,829 Ordinary Shares of £ 0.0001 each 6
On 31st October 2023, 63,829 Ordinary shares of £0.0001 each were alloted and fully paid at a price of £0.0001 per share.
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