| AQUAFFIRM LIMITED (formerly Bio Nano Holdings Limited) |
| Notes to the Accounts |
| for the year ended 28 February 2019 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts 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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Consolidated accounts |
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Consolidated accounts have not been prepared as the company is subject to the provisions of the small companies regime. |
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Intellectual property |
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The costs associated with the application for patents and trademarks are capitalised and amortised on a straight line basis at 20% per annum, this being the directors’ prudent estimate of the economic life of the intellectual property acquired. Patent renewal costs are written off as incurred. |
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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. |
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| 2 |
Audit information |
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The audit report is unqualified. |
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Senior statutory auditor: |
Alex Chandler |
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Firm: |
Sygma |
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Date of audit report: |
30 August 2019 |
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| 3 |
Intangible fixed assets |
£ |
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Patent Costs: |
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Cost |
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At 1 March 2018 |
11,041 |
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Additions |
5,971 |
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At 28 February 2019 |
17,012 |
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Amortisation |
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At 1 March 2018 |
3,219 |
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Provided during the year |
2,846 |
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At 28 February 2019 |
6,065 |
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Net book value |
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At 28 February 2019 |
10,947 |
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At 28 February 2018 |
7,822 |
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| 4 |
Debtors |
2019 |
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2018 |
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£ |
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£ |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
293,363 |
|
- |
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Other debtors |
2,563 |
|
1,198 |
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|
295,926 |
|
1,198 |
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| 5 |
Creditors: amounts falling due within one year |
2019 |
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2018 |
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£ |
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£ |
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Trade creditors |
3,837 |
|
7,190 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
- |
|
26,318 |
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Other creditors |
1,000 |
|
825 |
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4,837 |
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34,333 |
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| 6 |
Subsidiary undertaking |
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The company is the sole member of The Bio Nano Centre Unlimited, a company incorporated in England and Wales. |
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| 7 |
Controlling party |
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The company is under the control of the directors. |
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| 8 |
Other information |
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AQUAFFIRM LIMITED (formerly Bio Nano Holdings Limited) is a private company limited by shares and incorporated in England. Its registered office is: |
|
69 Onslow Road |
|
Richmond |
|
TW10 6QA |
