Statement of Consent to Prepare Abridged Financial Statements
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All of the members of Dundee Cell Discovery Limited have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
SC445925
Dundee Cell Discovery Limited
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Filleted Unaudited Abridged Financial Statements
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Dundee Cell Discovery Limited
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Abridged Statement of Financial Position
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31 March 2017
Fixed assets
Intangible assets
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4
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143,165
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143,165
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Current assets
Cash at bank and in hand
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1
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1
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Creditors: amounts falling due within one year
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1,800
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1,200
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-------
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-------
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Net current liabilities
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1,799
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1,199
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---------
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---------
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Total assets less current liabilities
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141,366
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141,966
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---------
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---------
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Net assets
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141,366
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141,966
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---------
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---------
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Capital and reserves
Called up share capital
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1
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1
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Profit and loss account
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141,365
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141,965
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---------
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---------
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Members funds
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141,366
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141,966
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---------
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---------
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These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
The company did not trade during the current year or prior year and has not made either a profit or loss.
For the year ending 31 March 2017 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
Dundee Cell Discovery Limited
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Abridged Statement of Financial Position (continued)
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31 March 2017
These abridged financial statements were approved by the
board of directors
and authorised for issue on
18 December 2017
, and are signed on behalf of the board by:
Mr J. D. S. Carnegie
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Director
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Company registration number:
SC445925
Dundee Cell Discovery Limited
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Notes to the Abridged Financial Statements
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Year ended 31 March 2017
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Spalding House, 90-92 Queen Street, Broughty Ferry, Dundee, DD5 3EB.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.
Income statement
The company is dormant as defined by section 1169 of the Companies Act 2006. The company incurred no significant transactions during the current year.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4.
Intangible assets
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£
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Cost
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At 1 April 2016 and 31 March 2017
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143,165
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---------
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Amortisation
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At 1 April 2016 and 31 March 2017
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–
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---------
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Carrying amount
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At 31 March 2017
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143,165
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---------
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5.
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.
6.
Controlling party
The company is a 100% subsidiary of DC Biosciences Limited.
7.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year.