PULMOCIDE LIMITED

Company Registration Number:
06182024 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2020

Period of accounts

Start date: 1 April 2019

End date: 31 March 2020

PULMOCIDE LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2020

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

PULMOCIDE LIMITED

Directors' report period ended 31 March 2020

The directors present their report with the financial statements of the company for the period ended 31 March 2020

Principal activities of the company

The principal activity of the Company is pharmaceutical drug research, development and commercialisation and the directors expect the Company to continue with its principal activity into the foreseeable future.



Directors

The directors shown below have held office during the whole of the period from
1 April 2019 to 31 March 2020

Catherine Bingham
Jeanne Bolger
Daniel Burgess
Matthew Foy
Stephen Knight
Peter Strong
IP2IPO Services Limited


The director shown below has held office during the period of
1 April 2019 to 19 December 2019

William Garth Rapeport


Secretary Peter Strong

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
30 July 2020

And signed on behalf of the board by:
Name: Peter Strong
Status: Secretary

PULMOCIDE LIMITED

Profit And Loss Account

for the Period Ended 31 March 2020

2020 2019


£

£
Administrative expenses: ( 9,194,153 ) ( 10,056,754 )
Operating profit(or loss): (9,194,153) (10,056,754)
Interest receivable and similar income: 8,077
Interest payable and similar charges: ( 3,734,195 ) ( 3,360,000 )
Profit(or loss) before tax: (12,928,348) (13,408,677)
Tax: 1,694,355 2,133,152
Profit(or loss) for the financial year: (11,233,993) (11,275,525)

PULMOCIDE LIMITED

Balance sheet

As at 31 March 2020

Notes 2020 2019


£

£
Fixed assets
Tangible assets: 3 28,975 48,146
Investments: 4 41,716 2
Total fixed assets: 70,691 48,148
Current assets
Debtors: 5 2,288,644 2,434,530
Cash at bank and in hand: 12,834,325 5,161,431
Total current assets: 15,122,969 7,595,961
Creditors: amounts falling due within one year: 6 ( 1,513,771 ) ( 1,203,223 )
Net current assets (liabilities): 13,609,198 6,392,738
Total assets less current liabilities: 13,679,889 6,440,886
Creditors: amounts falling due after more than one year: 7 ( 68,322,786 ) ( 51,618,472 )
Total net assets (liabilities): (54,642,897) (45,177,586)
Capital and reserves
Called up share capital: 28,220 10,770
Other reserves: 2,859,662 1,108,430
Profit and loss account: (57,530,779 ) (46,296,786 )
Total Shareholders' funds: ( 54,642,897 ) (45,177,586)

The notes form part of these financial statements

PULMOCIDE LIMITED

Balance sheet statements

For the year ending 31 March 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 30 July 2020
and signed on behalf of the board by:

Name: Peter Strong
Status: Director

The notes form part of these financial statements

PULMOCIDE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2020

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Tangible fixed assets depreciation policy

    Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, as follows:Plant and machinery 25% and 33% per annum on cost.Repairs, maintenance and minor inspection costs are expensed as incurred.

PULMOCIDE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2020

  • 2. Employees

    2020 2019
    Average number of employees during the period 10 10

PULMOCIDE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2020

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2019 346,439 346,439
Additions
Disposals
Revaluations
Transfers
At 31 March 2020 346,439 346,439
Depreciation
At 1 April 2019 298,293 298,293
Charge for year 19,171 19,171
On disposals
Other adjustments
At 31 March 2020 317,464 317,464
Net book value
At 31 March 2020 28,975 28,975
At 31 March 2019 48,146 48,146

PULMOCIDE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2020

4. Fixed assets investments note

N/A

PULMOCIDE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2020

5. Debtors

2020 2019
£ £
Prepayments and accrued income 130,095 155,118
Other debtors 2,158,549 2,279,412
Total 2,288,644 2,434,530

PULMOCIDE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2020

6. Creditors: amounts falling due within one year note

2020 2019
£ £
Trade creditors 951,752 665,963
Taxation and social security 55,757 187,493
Accruals and deferred income 506,262 349,767
Total 1,513,771 1,203,223

PULMOCIDE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2020

7. Creditors: amounts falling due after more than one year note

2020 2019
£ £
Other creditors 68,322,786 51,618,472
Total 68,322,786 51,618,472