Company Registration No. 03929876 (England and Wales)
COMPLEMENT GENOMICS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2015
Evolution Business and Tax Advisors LLP
Wynyard Park House
Wynyard Avenue
Wynyard
TS22 5TB
COMPLEMENT GENOMICS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
COMPLEMENT GENOMICS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JULY 2015
31 July 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
186,488
146,730
Current assets
Stocks
46,096
46,097
Debtors
208,348
280,815
Cash at bank and in hand
59,314
146,607
313,758
473,519
Creditors: amounts falling due within one year
4
(114,508)
(114,897)
Net current assets
199,250
358,622
Total assets less current liabilities
385,738
505,352
Creditors: amounts falling due after more than one year
3
(75,833)
(98,455)
Provisions for liabilities
-
(2,604)
Accruals and deferred income
(583)
(729)
309,322
403,564
Capital and reserves
Called up share capital
5
1,240
1,240
Share premium account
228,327
228,327
Profit and loss account
79,755
173,997
Shareholders' funds
309,322
403,564
COMPLEMENT GENOMICS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2015
31 July 2015
- 2 -
For the financial year ended 31 July 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 27 April 2016
Miss L Allcroft
Director
Company Registration No. 03929876
COMPLEMENT GENOMICS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
10% reducing balance
Fixtures, fittings and equipment
20% reducing balance
Motor vehicles
25% straight line
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
Pensions
The company operates a defined contribution scheme for the benefit of its directors. Contributions payable are charged to the profit and loss account in the year they are payable.
1.8
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.9
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
1.10
Government grants
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
COMPLEMENT GENOMICS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2015
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 August 2014
396,945
Additions
61,164
At 31 July 2015
458,109
Depreciation
At 1 August 2014
250,215
Charge for the year
21,406
At 31 July 2015
271,621
Net book value
At 31 July 2015
186,488
At 31 July 2014
146,730
3
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £70,035 (2014 - £98,455).
4
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £28,420 (2014 - £28,420).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
1,240 ordinary shares of £1 each
1,240
1,240
COMPLEMENT GENOMICS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2015
- 5 -
6
Related party relationships and transactions
Loans to directors
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Miss L Allcroft
-
927
(7,472)
-
4,923
(1,622)
927
(7,472)
-
4,923
(1,622)