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START CODON GENERAL PARTNER LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2025
Start Codon General Partner Ltd is a company limited by shares and is incorporated in England and Wales. Its registered office is 22 Station Road, Cambridge, CB1 2JD.
Since 25 January 2025, the controlling party and ultimate parent company is Cambridge Innovation Capital Limited (CIC). CIC's consolidated financial statements are available from its registered office: 22 Station Road, Cambridge, CB1 2JD.
2.ACCOUNTING POLICIES
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BASIS OF PREPARATION OF FINANCIAL STATEMENTS
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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 1A 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:
At 30 March 2025, the Company had net assets of £23,574 (2024: net liabilities £1,876,972). The financial statements have been prepared on the going concern basis on the assumption that the ultimate parent company will continue to provide funds for the Company to be able to meet its liabilities as they fall due. The directors are confident that the Company has a future entitlement to their proportion of disposal proceeds of share investments held by Start Codon Fund 1 LP. The financial statements do not include any adjustments that would result if the Company were unable to continue as a going concern. Accordingly they continue to adopt the going concern basis in preparing these financial statements.
Turnover represents the General Partner's Profit Share from Start Codon Fund 1 LP. Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding value added tax.
Interest income is recognised in profit or loss using the effective interest method.
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.
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