Exomedica Ltd Accounts Cover |
Company No. 05044775 | |||||||||
Exomedica Ltd Contents |
Pages | |||||||||
Company Information | 2 | ||||||||
Directors' Report | 3 | ||||||||
Accountant's Report | 4 | ||||||||
Profit and Loss Account | 5 | ||||||||
Statement of Comprehensive Income | 6 | ||||||||
Balance Sheet | 7 | ||||||||
Statement of Changes in Equity | 8 | ||||||||
Notes to the Accounts | 9 to 11 | ||||||||
Exomedica Ltd Company Information |
Directors | |||||||||
Secretary | |||||||||
Registered Office | |||||||||
Accountants | |||||||||
5 Nook Close | |||||||||
Stamford Bridge | |||||||||
York | |||||||||
YO41 1SR |
Exomedica Ltd Directors Report |
The Directors present their report and the accounts for the year ended 31 December 2022. | |||||||||
Principal activities | |||||||||
Directors | |||||||||
The Directors who served at any time during the year were as follows: | |||||||||
Signed on behalf of the board | |||||||||
M. Herbert | |||||||||
Director | |||||||||
28 September 2023 |
Exomedica Ltd Accountants Report ICAEW |
Chartered Accountant's Report to the Board of Directors of Exomedica Ltd on the preparation of the unaudited statutory accounts for the year ended 31 December 2022 | |||||||||
In order to assist you to fulfil your duties under the Companies Act 2006 , we have prepared for your approval the accounts of Exomedica Ltd for the year ended 31 December 2022 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the Notes to the Accounts from the company's accounting records and from information and explanations you have given us. | |||||||||
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance. | |||||||||
This report is made solely to the Board of Directors of Exomedica Ltd, as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Exomedica Ltd and state those matters that we have agreed to state to the Board of Directors of Exomedica Ltd, as a body, in this report in accordance with AAF 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Exomedica Ltd and its Board of Directors as a body for our work or for this report. | |||||||||
It is your duty to ensure that Exomedica Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Exomedica Ltd. You consider that Exomedica Ltd is exempt from the statutory audit requirement for the year. | |||||||||
Chartered Accountants | |||||||||
5 Nook Close | |||||||||
Stamford Bridge | |||||||||
York | |||||||||
YO41 1SR | |||||||||
Exomedica Ltd Profit and Loss Account |
for the year ended 31 December 2022 | ||||||||||
2022 | 2021 | |||||||||
£ | £ | |||||||||
Turnover | ||||||||||
Administrative expenses | ( | ( | ||||||||
Operating (loss)/profit | ( | |||||||||
Income from investments | 4,200 | - | ||||||||
Fair value adjustments | (249,906) | (210,761) | ||||||||
Interest payable and similar charges | ( | |||||||||
Loss on ordinary activities before taxation | ( | ( | ||||||||
Taxation | ||||||||||
Loss for the financial year after taxation | ( | ( | ||||||||
Exomedica Ltd Statement of Comprehensive Income |
STATEMENT OF COMPREHENSIVE INCOME | ||||||||||
for the year ended 31 December 2022 | ||||||||||
2022 | 2021 | |||||||||
£ | £ | |||||||||
Loss for the financial year after taxation | ( | ( | ||||||||
Total comprehensive income for the period | ( | ( | ||||||||
Exomedica Ltd Balance Sheet |
at | ||||||||||
Company No. | Notes | 2022 | 2021 | |||||||
£ | £ | |||||||||
Fixed assets | ||||||||||
Investments | 4 | |||||||||
Current assets | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
Creditors: Amount falling due within one year | 6 | ( | ( | |||||||
Net current liabilities | ( | ( | ||||||||
Total assets less current liabilities | ||||||||||
Net assets | ||||||||||
Capital and reserves | ||||||||||
Called up share capital | ||||||||||
Share premium account | 7 | |||||||||
Profit and loss account | 7 | ( | ( | |||||||
Total equity | ||||||||||
Approved by the board on 28 September 2023 | ||||||||||
And signed on its behalf by: | ||||||||||
M. Herbert | ||||||||||
Director | ||||||||||
28 September 2023 |
Exomedica Ltd Statement of Changes in Equity |
for the year ended 31 December 2022 | ||||||||||||
Share Capital | Share Premium | Retained earnings | Total equity | |||||||||
£ | £ | £ | £ | |||||||||
At 1 January 2021 | 301,306 | 3,107,839 | (2,481,717) | 927,428 | ||||||||
Loss for the period | ( | ( | ||||||||||
At 31 December 2021 and 1 January 2022 | ( | |||||||||||
Loss for the period | ( | ( | ||||||||||
At 31 December 2022 | ( | |||||||||||
Exomedica Ltd Notes to the Accounts |
for the year ended 31 December 2022 | ||||||||||||||||
1 | General information | |||||||||||||||
Its registered number is: 05044775 | ||||||||||||||||
Its registered office is: | ||||||||||||||||
2 | Accounting policies and basis of preparation | |||||||||||||||
Basis of preparation | ||||||||||||||||
The accounts have been prepared under the going concern assumption on the following basis. The company is dependent on the loan from BoostFocal Ltd continuing until it can be repaid. The directors remain confident of additional shareholder support to fund the relatively modest operating costs. Consolidated accounts The accounts contain information about Exomedica Ltd as an individual company and do not contain financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated accounts. | ||||||||||||||||
Turnover | ||||||||||||||||
Taxation | ||||||||||||||||
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. The company has no liability to tax for the current or the preceding year. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. No deferred tax asset has been included because, in the opinion of the directors, there will be no suitable profits available in the foreseeable future in order to realise the benefit of the tax losses held by the company. | ||||||||||||||||
Investments | ||||||||||||||||
Trade and other debtors | ||||||||||||||||
Trade and other creditors | ||||||||||||||||
3 | Employees | |||||||||||||||
2022 | 2021 | |||||||||||||||
Number | Number | |||||||||||||||
The average monthly number of employees (including directors) during the year was: | ||||||||||||||||
4 | Investments | |||||||||||||||
Investment in Subsidiaries | Other investments - Unlisted | Total | ||||||||||||||
£ | £ | £ | ||||||||||||||
Cost or valuation | ||||||||||||||||
At 1 January 2022 | ||||||||||||||||
At 31 December 2022 | ||||||||||||||||
Provisions/Impairment | ||||||||||||||||
At 1 January 2022 | ||||||||||||||||
Impairment loss | ||||||||||||||||
At 31 December 2022 | ||||||||||||||||
Net book values | ||||||||||||||||
At 31 December 2022 | ||||||||||||||||
At 31 December 2021 | ||||||||||||||||
5 | Debtors | |||||||||||||||
2022 | 2021 | |||||||||||||||
£ | £ | |||||||||||||||
Prepayments and accrued income | ||||||||||||||||
6 | Creditors: | |||||||||||||||
amounts falling due within one year | ||||||||||||||||
2022 | 2021 | |||||||||||||||
£ | £ | |||||||||||||||
Other loans | ||||||||||||||||
Accruals and deferred income | ||||||||||||||||
7 | Reserves | |||||||||||||||
Share capital - on a return of capital the preference shares in Exomedica Ltd are entitled to £1.25 per share (including any dividends) in preference to ordinary shares, and after that to nothing. There are 1,170,000 24pence preference shares in aggregate entitled to £1,462,500 | ||||||||||||||||
8 | Related party disclosures | |||||||||||||||
Transactions with related parties | ||||||||||||||||