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SURREY AQUATECHNOLOGY LTD | |
Annual report and financial statements | |
Contents | |
Page | |
Company information | 1 |
Directors' report | 2 |
Statement of comprehensive income | 3 |
Statement of financial position | 4 |
Statement of changes in equity | 5 |
Notes to the financial statements | 6 |
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Company Information |
Directors |
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Secretary |
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Bankers |
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1 Churchill Place |
Canary Wharf |
London |
E14 5HP |
Registered office |
York Biotech Campus |
Sand Hutton |
York |
England |
YO41 1LZ |
Registered number |
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Registered number: |
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Directors' Report | |||||||
The directors present their report and accounts for the year ended |
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Principal activities | |||||||
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Review of the business, research and development and future developments | |||||||
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Going concern | |||||||
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Directors | |||||||
The following persons served as directors during the year: | |||||||
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Directors' liability insurance | |||||||
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Small company provisions | |||||||
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This report was approved by the board on |
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Camillus Glover | |||||||
Director | |||||||
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Statement of comprehensive income | ||||||||
for the year ended |
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Note | 2020 | 2019 | ||||||
£ | £ | |||||||
Administrative expenses | 2 | ( |
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Operating (loss)/profit | ( |
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(Loss)/profit before taxation | ( |
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Tax on (loss)/profit | 4 | - | - | |||||
(Loss)/profit for the financial year | ( |
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2020 | 2019 | |||||||
£ | £ | |||||||
(Loss)/profit for the financial year | (122,903) | 2,090,435 | ||||||
Other comprehensive income | ||||||||
Gain on revaluation of land and buildings | - | - | ||||||
Deferred taxation arising on the revaluation of land and buildings | - | - | ||||||
Total comprehensive income for the year | (122,903) | 2,090,435 | ||||||
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Registered number: |
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Statement of financial position | |||||||
as at |
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Notes | 2020 | 2019 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Intangible assets | 6 | 331,053 | 363,191 | ||||
Tangible assets | 7 | - | - | ||||
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Current assets | |||||||
Debtors | 8 |
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Creditors: amounts falling due within one year | 9 | ( |
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Net current liabilities | ( |
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Net assets |
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Capital and reserves | |||||||
Called up share capital | 10 |
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Share premium | 11 |
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Profit and loss account | 11 | ( |
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Shareholder's funds |
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The financial statements were approved on |
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Camillus Glover | |||||||
Director | |||||||
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Statement of Changes in Equity | ||||||||||
for the year ended |
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Share | Share | Re- | Profit | Total | ||||||
capital | premium | valuation | and loss | |||||||
reserve | account | |||||||||
£ | £ | £ | £ | £ | ||||||
At 1 January 2019 |
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- | ( |
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Profit for the financial year | 2,090,435 | 2,090,435 | ||||||||
At 31 December 2019 | 100 | 1,011,612 | - | (744,785) | 266,927 | |||||
At 1 January 2020 |
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- | ( |
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Loss for the financial year | ( |
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At 31 December 2020 |
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- | ( |
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Notes to the financial statements | ||||||||
for the year ended |
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Company Information | ||||||||
Surrey Aquatechnology Limited is a private company limited by shares and incorporated in England and Wales. The Registered office is York Biotech Campus, Sand Hutton, York, England, YO41 1LZ. | ||||||||
1 | Accounting policies | |||||||
The principal accounting policies, which have been applied consistently throughout the year, are set out below: | ||||||||
Basis of preparation | ||||||||
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. The company meets the definition of a qualifying entity under FRS 101 Reduced Disclosure Framework. |
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Going concern | ||||||||
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Intangible fixed assets | ||||||||
Know-how: The ordinary share capital subscribed for by the technology inventors (A Sharif and University of Surrey) has been fair valued based on the subscription price paid by third parties to acquire shares in the company at the same time. The difference between the fair value and the price paid has been recognised as know-how, an intangible fixed asset to be amortised on a straight-line basis over five years |
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Tangible fixed assets | ||||||||
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Plant and machinery | 3 - 4 years | |||||||
Impairment | ||||||||
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Debtors | ||||||||
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Creditors | ||||||||
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Taxation | ||||||||
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Research and development | ||||||||
Any internally generated development intangible fixed asset is recognised only if all of the following are met: - the related expenditure is clearly identifiable and is part of a defined project - future economic benefits are reasonably certain to be generated by the project and - adequate resources exist, or are reasonably expected to exist, to enable the completion of the project. Where no internally generated intangible fixed asset can be recognised, development expenditure is recognised as an expense in the year in which it is incurred. Internally generated intangible fixed assets are amortised on a straight-line basis over three years. |
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2 | Administrative expenses | 2020 | 2019 | |||||
£ | £ | |||||||
Administrative expenses | 55,609 | 28,747 | ||||||
Amortisation of intangibles | 67,294 | 55,684 | ||||||
Bad debt write off | - | (2,174,866) | ||||||
122,903 | (2,090,435) | |||||||
There are no employees in the company and any directors' remuneration during the period has been borne by other companies within the DeepVerge plc group. | ||||||||
3 | Turnover | |||||||
The Company does not have any turnover for the period. | ||||||||
4 | Employees | 2020 | 2019 | |||||
Number | Number | |||||||
Average number of persons employed by the company |
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There are no employees in the company and any directors' remuneration during the period has been borne by other companies within the DeepVerge plc group. | ||||||||
5 | Tax on profit on ordinary acitivities | |||||||
Current Tax The tax currently payable is based on taxable profits for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it excludes items that are never taxable or deductible. The company’s liability for the current tax is calculated using tax rates that have been enacted, or substantively enacted, by the reporting end date. Deferred Tax Deferred tax asset has not been included in the financial statements due to the uncertainty surrounding the availability of sufficient profits to surrender the losses. |
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6 | Intangible fixed assets | £ | ||||||
Cost | ||||||||
At 1 January 2020 | 1,441,420 | |||||||
Additions | 32,119 | |||||||
Disposals | - | |||||||
At 31 December 2020 | 1,473,539 | |||||||
Amortisation | ||||||||
At 1 January 2020 | 1,078,229 | |||||||
Provided during the year | 64,257 | |||||||
On disposals | - | |||||||
At 31 December 2020 | 1,142,486 | |||||||
Net book value | ||||||||
At 31 December 2020 | 331,053 | |||||||
At 31 December 2019 | 363,191 | |||||||
7 | Tangible fixed assets | |||||||
Plant and machinery | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 January 2020 |
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At 31 December 2020 |
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Depreciation | ||||||||
At 1 January 2020 |
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At 31 December 2020 |
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Net book value | ||||||||
At 31 December 2020 | - | |||||||
At 31 December 2019 | - | |||||||
8 | Receivables | 2020 | 2019 | |||||
£ | £ | |||||||
Other debtors |
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9 | Payables: amounts falling due within one year | 2020 | 2019 | |||||
£ | £ | |||||||
Trade Payables |
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Amounts owed to group undertakings |
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Amounts owed to group undertakings are non interest bearing, repayable on demand and have no securities attached to them. | ||||||||
10 | Called up share capital | 2020 | 2019 | |||||
Authorised Allotted and fully paid | £ | £ | ||||||
100,000 (2019: 100,000) Ordinary shares of £0.001 each | 100 | 100 | ||||||
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11 | Reserves | Share premium account |
Retained earnings | |||||
£ | £ | |||||||
At 1 January 2020 | (1,011,612) | (744,785) | ||||||
Loss for the financial year | (122,903) | |||||||
At 31 December 2020 | (1,011,612) | (867,688) | ||||||
12 | Related party transactions | |||||||
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13 | Ultimate controlling party | |||||||
The results of the company are included in the consolidated financial statements of DeepVerge plc, copies of which are available on the Company’s website at www.deepverge.com. |