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AUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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BIVICTRIX THERAPEUTICS LTD |
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REGISTERED NUMBER:
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AUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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FOR |
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BIVICTRIX THERAPEUTICS LTD |
BIVICTRIX THERAPEUTICS LTD (REGISTERED NUMBER: 10005270) |
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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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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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BIVICTRIX THERAPEUTICS LTD |
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COMPANY INFORMATION |
for the Year Ended 31 December 2018 |
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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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AUDITORS: |
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Statutory Auditor |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
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BANKERS: |
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51 Mosley Street |
Manchester |
M2 3HQ |
BIVICTRIX THERAPEUTICS LTD (REGISTERED NUMBER: 10005270) |
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STATEMENT OF FINANCIAL POSITION |
31 December 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
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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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Share premium | 8 |
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Retained earnings | 8 | ( |
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SHAREHOLDERS' FUNDS |
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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 Board of Directors on
by: |
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BIVICTRIX THERAPEUTICS LTD (REGISTERED NUMBER: 10005270) |
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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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BiVictriX Therapeutics Ltd is a
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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 |
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Tangible fixed assets |
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Computer equipment | - |
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Tangible fixed assets are stated at cost less depreciation and any impairment. |
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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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position 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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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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Employee benefits |
Short term employee benefits are recognised as an expense in the period in which they are incurred. |
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Financial instruments |
Basic financial instruments that are payable or receivable within one year, typically trade creditors and debtors, |
are measured initially and subsequently at the undiscounted amount of the cash or other consideration that is |
expected to be paid or received less impairment losses for bad and doubtful debts. |
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Financial assets and liabilities payable after one year are initially measured at fair value and are measured |
subsequently at amortised cost using the effective interest rate method. |
BIVICTRIX THERAPEUTICS LTD (REGISTERED NUMBER: 10005270) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2018 |
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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. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
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COST |
At 1 January 2018 |
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Additions |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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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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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other debtors |
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R&D tax credit |
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Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Social security and other taxes |
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Accrued expenses |
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BIVICTRIX THERAPEUTICS LTD (REGISTERED NUMBER: 10005270) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2018 |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
61,619 | Ordinary | 1p | 842 | 616 |
7,500 | Deferred | 1p | 75 | 75 |
917 | 691 |
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The following shares were issued and fully paid during the year:- |
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22,614 Ordinary £0.01 shares were issued on 13 June 2018, at a premium of £25.00 per share. |
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8. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
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At 1 January 2018 | ( |
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132,718 |
Deficit for the year | ( |
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Cash share issue | - | 552,634 | 552,634 |
At 31 December 2018 | ( |
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308,505 |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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10. | POST BALANCE SHEET EVENTS |
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Following the year end 7,186 Ordinary £0.01 shares have been issued for proceeds amounting to £237,149. |