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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 30 September 2021 |
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De Novo Pharmaceuticals Limited |
REGISTERED NUMBER:
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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 30 September 2021 |
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for |
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De Novo Pharmaceuticals Limited |
De Novo Pharmaceuticals Limited (Registered number: 03761178) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2021 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 5 |
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De Novo Pharmaceuticals Limited |
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Company Information |
for the Year Ended 30 September 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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De Novo Pharmaceuticals Limited (Registered number: 03761178) |
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Report of the Directors |
for the Year Ended 30 September 2021 |
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The directors present their report with the financial statements of the Company for the year ended 30 September 2021. |
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PRINCIPAL ACTIVITY |
The principal activity of the Company is to help third party biotechnology and pharmaceutical companies design new chemical entities based on both traditional therapeutic targets and new drug targets emerging from Genomics. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 October 2020 to the date of this report. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
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ON BEHALF OF THE BOARD: |
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De Novo Pharmaceuticals Limited (Registered number: 03761178) |
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Income Statement |
for the Year Ended 30 September 2021 |
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2021 | 2020 |
£ | £ |
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TURNOVER |
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Administrative expenses |
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OPERATING (LOSS)/PROFIT | ( |
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Interest receivable and similar income |
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(LOSS)/PROFIT BEFORE TAXATION | ( |
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Tax on (loss)/profit |
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(LOSS)/PROFIT FOR THE FINANCIAL
YEAR |
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De Novo Pharmaceuticals Limited (Registered number: 03761178) |
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Balance Sheet |
30 September 2021 |
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2021 | 2020 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings |
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( |
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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. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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De Novo Pharmaceuticals Limited (Registered number: 03761178) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2021 |
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1. | STATUTORY INFORMATION |
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De Novo Pharmaceuticals Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Intangible assets |
Acquired intellectual property is included at cost and depreciated in equal annual instalments over a period of 10 years which is its estimated useful economic life. Provision is made for any impairment. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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Financial instruments |
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 entity after deducting all of its financial liabilities. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2020 - NIL). |
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 October 2020 |
and 30 September 2021 |
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AMORTISATION |
At 1 October 2020 |
and 30 September 2021 |
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NET BOOK VALUE |
At 30 September 2021 |
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At 30 September 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
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De Novo Pharmaceuticals Limited (Registered number: 03761178) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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Other creditors |
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7. | RELATED PARTY DISCLOSURES |
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Throughout the year the Company was controlled by Merlin Residual Investments Limited, by virtue of its majority holding in the issued share capital of the Company. |