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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 |
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OVASCIENCE LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 |
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FOR |
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OVASCIENCE LIMITED |
OVASCIENCE LIMITED (REGISTERED NUMBER: 09361272) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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OVASCIENCE LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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OVASCIENCE LIMITED (REGISTERED NUMBER: 09361272) |
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BALANCE SHEET |
31 DECEMBER 2018 |
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2018 | 2017 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
( |
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( |
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NET CURRENT LIABILITIES |
( |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
OVASCIENCE LIMITED (REGISTERED NUMBER: 09361272) |
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BALANCE SHEET - continued |
31 DECEMBER 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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OVASCIENCE LIMITED (REGISTERED NUMBER: 09361272) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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1. | STATUTORY INFORMATION |
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Ovascience Limited is a private company, limited by shares , registered in England and Wales. The company's |
registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements - going concern |
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The directors have prepared the accounts on a going concern basis, which assumes that the company will achieve |
sufficient financial resources in order to meet its short and medium term liability requirements. The company relies |
upon its parent company, OvaScience, Inc., which has confirmed that it will continue to provide this for the |
foreseeable future. |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. 100% of the turnover is generated from |
outside of the UK. |
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Tangible fixed assets |
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Short leasehold - Straight line over 3 years |
Furniture and Fixtures - Straight line over 5 years |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the |
extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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OVASCIENCE LIMITED (REGISTERED NUMBER: 09361272) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will |
be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance |
sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of |
transaction. Exchange differences are taken into account in arriving at the operating result. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period |
of the lease. |
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Consolidation exemption |
Exemption has been taken from preparing consolidated accounts as the company is an intermediate holding company |
and consolidated accounts are prepared by the ultimate parent company. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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Cost |
At 1 January 2018 |
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Disposals | ( |
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At 31 December 2018 |
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Net book value |
At 31 December 2018 |
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At 31 December 2017 |
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OVASCIENCE LIMITED (REGISTERED NUMBER: 09361272) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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4. | FIXED ASSET INVESTMENTS - continued |
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The company's investments at the balance sheet date in the share capital of companies include the following: |
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Ovascience Canada Inc. |
Country of incorporation: Canada |
Nature of business: marketing and support services |
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Class of shares: | % holding |
Ordinary | 100.00 |
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Ovascience Japan GK |
Country of incorporation: Japan |
Nature of business: marketing and support services |
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Class of shares: | % holding |
Ordinary | 100.00 |
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Ovascience Spain S.L. |
Country of incorporation: Spain |
Nature of business: marketing and support services |
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Class of shares: | % holding |
Ordinary | 100.00 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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7. | RELATED PARTY DISCLOSURES |
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OvaScience Limited, is a wholly owned subsidiary of OvaScience, Inc. |
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During the year the company invoiced OvaScience, Inc., sales amounting £49,643 (2017: £229,053). |
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As at 31 December 2018 there was an amount payable from OvaScience Limited to OvaScience, Inc.of £61,914,187 |
(2017: £61,594,704). |