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Registration number: 07913295

CellsUnited Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 February 2016 to 30 January 2017

 

CellsUnited Limited

Contents

Company Information

1

Statement of Comprehensive Income

2

Balance Sheet

3 to 4

Statement of Changes in Equity

5

Notes to the Financial Statements

6 to 12

 

CellsUnited Limited

Company Information

Directors

Renata Crome

Andrew Smith

Timothy Mott

Registered office

38 Hampton Road
Twickenham
TW2 5QB

 

CellsUnited Limited

Statement of Comprehensive Income for the Period from 1 February 2016 to 30 January 2017

Note

2017
£

2016
£

Loss for the period

 

(87,923)

(151,290)

Total comprehensive income for the period

 

(87,923)

(151,290)

 

CellsUnited Limited

(Registration number: 07913295)
Balance Sheet as at 30 January 2017

Note

2017
£

2016
£

Fixed assets

 

Intangible assets

3

7,564

8,961

Tangible assets

4

-

322

 

7,564

9,283

Current assets

 

Debtors

5

21,197

30,144

Cash at bank and in hand

 

58,787

15,812

 

79,984

45,956

Creditors: Amounts falling due within one year

6

(49,784)

(15,715)

Net current assets

 

30,200

30,241

Net assets

 

37,764

39,524

Capital and reserves

 

Called up share capital

216,617

173,548

Share premium reserve

283,546

240,452

Profit and loss account

(462,399)

(374,476)

Total equity

 

37,764

39,524

For the financial period ending 30 January 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

CellsUnited Limited

(Registration number: 07913295)
Balance Sheet as at 30 January 2017

Approved and authorised by the Board on 30 October 2017 and signed on its behalf by:
 

.........................................

Andrew Smith

Director

 

CellsUnited Limited

Statement of Changes in Equity for the Period from 1 February 2016 to 30 January 2017

Share capital
£

Share premium
£

Profit and loss account
£

Total
£

At 1 February 2016

173,548

240,452

(374,476)

39,524

Loss for the period

-

-

(87,923)

(87,923)

Total comprehensive income

-

-

(87,923)

(87,923)

New share capital subscribed

43,069

43,094

-

86,163

At 30 January 2017

216,617

283,546

(462,399)

37,764

Share capital
£

Share premium
£

Profit and loss account
£

Total
£

At 1 February 2015

169,200

163,300

(223,186)

109,314

Loss for the period

-

-

(151,290)

(151,290)

Total comprehensive income

-

-

(151,290)

(151,290)

New share capital subscribed

4,348

77,152

-

81,500

At 31 January 2016

173,548

240,452

(374,476)

39,524

 

CellsUnited Limited

Notes to the Financial Statements for the Period from 1 February 2016 to 30 January 2017

1

General information

The company is a private company limited by share capital incorporated in England.

The address of its registered office is:
38 Hampton Road
Twickenham
TW2 5QB
England

These financial statements were authorised for issue by the Board on 30 October 2017.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% reducing balance

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

CellsUnited Limited

Notes to the Financial Statements for the Period from 1 February 2016 to 30 January 2017

Asset class

Amortisation method and rate

Trademarks

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

CellsUnited Limited

Notes to the Financial Statements for the Period from 1 February 2016 to 30 January 2017

3

Intangible assets

Trademarks, patents and licenses
 £

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 February 2016

13,967

-

13,967

At 30 January 2017

13,967

-

13,967

Amortisation

At 1 February 2016

-

5,006

5,006

Amortisation charge

-

1,397

1,397

At 30 January 2017

-

6,403

6,403

Carrying amount

At 30 January 2017

13,967

(6,403)

7,564

At 31 January 2016

13,967

(5,006)

8,961

The aggregate amount of research and development expenditure recognised as an expense during the period is £Nil (2016 - £Nil).
 

 

CellsUnited Limited

Notes to the Financial Statements for the Period from 1 February 2016 to 30 January 2017

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2016

390

390

At 30 January 2017

390

390

Depreciation

At 1 February 2016

68

68

Charge for the year

322

322

At 30 January 2017

390

390

Carrying amount

At 30 January 2017

-

-

At 31 January 2016

322

322

5

Debtors

2017
£

2016
£

Other debtors

21,197

30,144

Total current trade and other debtors

21,197

30,144

6

Creditors

Note

2017
£

2016
£

Due within one year

 

Bank loans and overdrafts

7

11,820

7,845

Trade creditors

 

35,264

6,370

Other creditors

 

2,700

1,500

 

49,784

15,715

7

Loans and borrowings

2017
£

2016
£

Current loans and borrowings

Other borrowings

11,820

7,845

 

CellsUnited Limited

Notes to the Financial Statements for the Period from 1 February 2016 to 30 January 2017

8

Transition to FRS 102

Balance Sheet at 1 February 2015
 

Note

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Fixed assets

 

Intangible assets

 

10,358

-

-

10,358

Tangible assets

 

139

-

-

139

 

10,497

-

-

10,497

Current assets

 

Debtors

 

28,329

-

-

28,329

Cash at bank and in hand

 

83,888

-

-

83,888

 

112,217

-

-

112,217

Creditors: Amounts falling due within one year

 

(13,400)

-

-

(13,400)

Net current assets

 

98,817

-

-

98,817

Net assets

 

109,314

-

-

109,314

Capital and reserves

 

Called up share capital

 

(169,200)

-

-

(169,200)

Share premium reserve

 

(163,300)

-

-

(163,300)

Profit and loss account

 

223,186

-

-

223,186

Total equity

 

(109,314)

-

-

(109,314)

 

CellsUnited Limited

Notes to the Financial Statements for the Period from 1 February 2016 to 30 January 2017

Balance Sheet at 31 January 2016
 

Note

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Fixed assets

 

Intangible assets

 

8,961

-

-

8,961

Tangible assets

 

322

-

-

322

 

9,283

-

-

9,283

Current assets

 

Debtors

 

30,143

-

-

30,143

Cash at bank and in hand

 

15,812

-

-

15,812

 

45,955

-

-

45,955

Creditors: Amounts falling due within one year

 

(15,714)

-

-

(15,714)

Net current assets

 

30,241

-

-

30,241

Net assets

 

39,524

-

-

39,524

Capital and reserves

 

Called up share capital

 

(173,548)

-

-

(173,548)

Share premium reserve

 

(240,452)

-

-

(240,452)

Profit and loss account

 

374,476

-

-

374,476

Total equity

 

(39,524)

-

-

(39,524)

 

CellsUnited Limited

Notes to the Financial Statements for the Period from 1 February 2016 to 30 January 2017

Profit and Loss Account for the year ended 31 January 2016
 

Note

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Turnover

 

1,691

-

-

1,691

Cost of sales

 

(41,513)

-

-

(41,513)

Gross loss

 

(39,822)

-

-

(39,822)

Administrative expenses

 

(123,037)

-

-

(123,037)

Operating loss

 

(162,859)

-

-

(162,859)

Other interest receivable and similar income

 

4

-

-

4

 

4

-

-

4

Loss before tax

 

(162,855)

-

-

(162,855)

Taxation

 

11,565

-

-

11,565

Loss for the financial period

 

(151,290)

-

-

(151,290)