Cambridge Multi - Physics Limited
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Registered number: |
10744321
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Balance Sheet |
as at 30 April 2018
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Notes |
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2018 |
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£ |
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Current assets |
Debtors |
3 |
|
1 |
Cash at bank and in hand |
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75,000 |
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|
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75,001 |
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|
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Creditors: amounts falling due within one year |
4 |
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(1,500) |
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Net current assets |
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73,501 |
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Total assets less current liabilities |
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|
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73,501 |
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Creditors: amounts falling due after more than one year |
5 |
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(62,731) |
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Net assets |
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10,770 |
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|
|
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|
|
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Capital and reserves |
Called up share capital |
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|
|
2 |
Share premium |
|
|
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49,999 |
Profit and loss account |
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|
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(39,231) |
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Shareholders' funds |
|
|
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10,770 |
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|
|
|
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The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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The financial statements have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
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N Nikiforakis |
Director |
Approved by the board on 24 January 2019
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Cambridge Multi - Physics Limited
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Notes to the financial statements |
for the period from 27 April 2017 to 30 April 2018
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1 |
Accounting policies |
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Basis of preparation |
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The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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2 |
Employees |
2018 |
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Number |
|
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Average number of persons employed by the company |
1 |
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3 |
Debtors |
2018 |
|
£ |
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|
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Other debtors |
1 |
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4 |
Creditors: amounts falling due within one year |
2018 |
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£ |
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Other creditors |
1,500 |
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5 |
Creditors: amounts falling due after one year |
2018 |
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£ |
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Other creditors |
62,731 |
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6 |
Related party transactions |
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Company setup costs totalling £37,731 were paid for by Cambridge Numerical Services Limited, a company controlled by the director. The director is of the opinion that these amounts will not be repaid within 12 months from the balance sheet date. The whole of the balance is owing to the company at the balance sheet date and are included in other creditors due after one year. A loan of £25,000 was made to the company by Cambridge Numerical Solutions Limited, a company controlled by the director. The loan does not bear any interest and has no fixed date of repayment and is included in creditors falling due after one year. The company received £50,000 under two Advance Subscription Agreements dated 2 March 2018 to subscribe for Advance Subscription Shares in the company. At the balance sheet date these shares have not been subscribed for and are disclosed as equity in the financial statements in accordance with FRS 102.
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7 |
Controlling party |
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The company is controlled by the director, N Nikiforakis, who currently holds 100% but after the issue of the Advance Subscription Shares will hold 60% of the issued share capital of the company.
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8 |
Other information |
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Cambridge Multi - Physics Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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C/O Jag Shaw Baker |
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Berners House |
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47-48 Berners Street |
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London |
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W1T3NF |