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Unaudited Financial Statements for the Year Ended 31 December 2021 |
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Sciencenow Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 December 2021 |
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for |
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Sciencenow Limited |
Sciencenow Limited (Registered number: 05103759) |
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Contents of the Financial Statements |
for the year ended 31 December 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Sciencenow Limited |
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Company Information |
for the year ended 31 December 2021 |
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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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ACCOUNTANTS: |
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Chartered Accountants |
1st Floor |
Healthaid House |
Marlborough Hill |
Harrow |
Middlesex |
HA1 1UD |
Sciencenow Limited (Registered number: 05103759) |
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Balance Sheet |
31 December 2021 |
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2021 | 2020 |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
5 |
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NET 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 directors acknowledge their 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. |
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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 and authorised for issue on
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Sciencenow Limited (Registered number: 05103759) |
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Notes to the Financial Statements |
for the year ended 31 December 2021 |
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1. | STATUTORY INFORMATION |
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Sciencenow Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements have been prepared on the going concern basis which assumes that the company will be able to continue trading for the foreseeable future. The company is dependent for this on the continuing support of its shareholders and loans from connected companies. The ultimate controlling party has, without creating a contractual obligation, indicated his intention to continue providing such additional funding as may be required, through other connected companies. |
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The directors are therefore satisfied that the going concern basis is appropriate for the preparation of these financial statements. |
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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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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date; however, 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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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Amounts owed to group undertakings |
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Other creditors |
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Sciencenow Limited (Registered number: 05103759) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2021 |
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5. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Other creditors |
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The above relates to a loan from Mr V. Tracz. |
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6. | RELATED PARTY DISCLOSURES |
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Connected companies referred to in these financial statements share the same ultimate controlling party, Mr. V. Tracz. |
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The management and operation of the various connected companies is such that each company may incur expenses on behalf of other connected companies which are then recharged. At the balance sheet date the net amount due to these companies was £nil (2020 - £244,500). |
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7. | ULTIMATE CONTROLLING PARTY |
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Mr. V. Tracz is the ultimate controlling party as the majority shareholder. |