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Registered number: 13408581
Synteny Biotechnology Limited
Unaudited Financial Statements
For The Year Ended 31 January 2025
Danforth Advisors
1 St. James Court
Whitefriars
Norwich
Norfolk
NR3 1RU
Synteny Biotechnology Limited
Contents
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—7
Page 1
Synteny Biotechnology Limited
Statement of Financial Position
As At 31 January 2025
Statement of Financial Position
Registered number: 13408581
2025 2024
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 339,513 45,714
339,513 45,714
CURRENT ASSETS
Debtors 5 854,434 479,388
Cash at bank and in hand 287,524 885,809
1,141,958 1,365,197
Creditors: Amounts Falling Due Within One Year 6 (3,371,648 ) (1,639,589 )
NET CURRENT ASSETS (LIABILITIES) (2,229,690 ) (274,392 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,890,177 ) (228,678 )
NET LIABILITIES (1,890,177 ) (228,678 )
CAPITAL AND RESERVES
Called up share capital 7 3 3
Share premium account 1,843,895 1,843,895
Income Statement (3,734,075 ) (2,072,576 )
SHAREHOLDERS' FUNDS (1,890,177) (228,678)
Page 1
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Synteny Biotechnology Limited
Statement of Financial Position (continued)
As At 31 January 2025
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Ms L Wollman
Director
21 August 2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Synteny Biotechnology Limited
Notes to the Financial Statements
For The Year Ended 31 January 2025
Notes to the Financial Statements
1. General Information
Synteny Biotechnology Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13408581 . The registered office is C/O Mischon De Reya LLP, Africa House, 70 Kingsway, London, WC3B 6AH.
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 lA of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
2.2. Going Concern Disclosure
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the parent company that it will continue to give financial support to the company for a period of at least twelve months from the date of signing of these financial statements.
On this basis, the director considers it appropriate to prepare the financial statements on a going concern
basis. However, should the financial support mentioned above not be forthcoming, the going concern basis
used in preparing the company's financial statements may be invalid and adjustments would have to be
made to reduce the value of assets to their realisable amounts and to provide for any further liabilities which
might be necessary.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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Synteny Biotechnology Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2025
2.4. Tangible Fixed Assets and Depreciation
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.
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:
Laboratory equipment 20%
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.
2.5. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.6. Foreign Currencies
Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign curreny transactions are translated into the functional currency using the spot exchange rates at the date 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 profit and loss except when deferred in other comprehensive income as qualifying cash flow hedges.
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 reporting date in the countries where the Company operates and generates income.
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Synteny Biotechnology Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2025
2.8. 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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
2.9. Government Grant
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are
credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related
expenditure.
2.10. 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.
2.11. Debtors & Creditors
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.
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.
2.12. Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2024: 13)
13 13
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Synteny Biotechnology Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2025
4. Tangible Assets
Laboratory equipment Computer equipment Total
£ £ £
Cost
As at 1 February 2024 20,036 48,042 68,078
Additions 332,190 - 332,190
As at 31 January 2025 352,226 48,042 400,268
Depreciation
As at 1 February 2024 756 21,608 22,364
Provided during the period 22,901 15,490 38,391
As at 31 January 2025 23,657 37,098 60,755
Net Book Value
As at 31 January 2025 328,569 10,944 339,513
As at 1 February 2024 19,280 26,434 45,714
5. Debtors
2025 2024
as restated
£ £
Due within one year
Trade debtors (1 ) -
Other debtors 854,435 479,388
854,434 479,388
6. Creditors: Amounts Falling Due Within One Year
2025 2024
as restated
£ £
Trade creditors 122,025 58,478
Other taxes and social security 50,592 44,160
Other creditors 32,062 13,812
Accruals and deferred income 17,514 7,700
Amounts owed to group undertakings 3,149,455 1,515,439
3,371,648 1,639,589
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Page 7
Synteny Biotechnology Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2025
7. Share Capital
2025 2024
as restated
£ £
Allotted, Called up and fully paid 3 3
8. Pension Commitments
The company operates a defined contribution 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 £52,920 (2024: £37,140). Contributions totaling £6,286 (2024: £3,110) were payable to the fund at 31 January 2025.
9. Ultimate Controlling Party
The smallest group undertaking for which financial statements are prepared, which include the company, is Synteny Labs Inc. Its registered office is Corporation Trust Center, 1209 Orange Street, Wilmington, New Castle County, Delaware 19801.
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