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START CODON (CARRY GENERAL PARTNER) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2025
Start Codon (Carry General Partners) Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is C/O Brodies LLP, Capital Square, 58 Morrison Street, Edinburgh, EH3 8BP.
Its principal place of business 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 liabilities of £22,018 (2024: £16,888). The financial statements have been prepared on the going concern basis on the assumption of 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's future entitlement to their proportion of disposal proceeds of share investments held by Start Codon Fund 1 LP will be sufficent to make good this deficit. 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.
Unlisted investments, whose market value can be reliably determined, are remeasured to market
value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit
and Loss Account for the period. Where market value cannot be reliably determined, such
investments are stated at historic cost less impairment
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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