iDna Genetics Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05061695

Unaudited Financial Statements For The Year Ended 31st March 2019

for

iDna Genetics Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Dr T Haizel

SECRETARY:

REGISTERED OFFICE:

Centrum Norwich Research Park

Colney Lane

Colney

Norwich

NR4 7UG

REGISTERED NUMBER:

05061695

ACCOUNTANTS:

Aston Shaw Ltd

The Union Building

51-59 Rose Lane

Norwich

Norfolk

NR1 1BY

FIXED ASSETS

Intangible assets

4

117,670

147,522

Tangible assets

5

125,950

136,425

243,620

283,947

CURRENT ASSETS

Stocks

26,618

28,419

Debtors

6

1,152,618

1,034,407

Cash at bank and in hand

100,619

112,327

1,279,855

1,175,153

CREDITORS

Amounts falling due within one year

7

728,702

625,104

NET CURRENT ASSETS

551,153

550,049

TOTAL ASSETS LESS CURRENT LIABILITIES

794,773

833,996

CREDITORS

Amounts falling due after more than one year

8

199,825

329,067

NET ASSETS

594,948

504,929

CAPITAL AND RESERVES

Called up share capital

298,927

298,926

Retained earnings

10

296,021

206,003

594,948

504,929

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 30th January 2020 and were signed by:

Dr T Haizel - Director

1.	STATUTORY INFORMATION

iDna Genetics Limited is a private company, limited by shares , registered in Not specified/Other. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019 is not being amortised.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% straight line

Fixtures and fittings

-

20% straight line

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2018 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1st April 2018

and 31st March 2019

28,113

149,261

177,374

AMORTISATION

At 1st April 2018

-

29,852

29,852

Charge for year

-

29,852

29,852

At 31st March 2019

-

59,704

59,704

NET BOOK VALUE

At 31st March 2019

28,113

89,557

117,670

At 31st March 2018

28,113

119,409

147,522

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2018

307,060

Additions

2,231

At 31st March 2019

309,291

DEPRECIATION

At 1st April 2018

170,635

Charge for year

12,706

At 31st March 2019

183,341

NET BOOK VALUE

At 31st March 2019

125,950

At 31st March 2018

136,425

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/19

31/3/18

£

£

Trade debtors

450,519

362,068

Amounts owed by group undertak

602,161

587,929

Other debtors

3,500

-

Tax

36,100

36,100

Accrued income

9,657

9,657

Prepayments

50,681

38,653

1,152,618

1,034,407

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/19

31/3/18

£

£

Bank loans and overdrafts (see note 9)

25,035

24,759

Other loans (see note 9)

182,914

158,381

Trade creditors

93,311

112,010

Social security and other taxes

12,132

15,636

Pension

4,585

4,556

VAT

38,572

32,503

Other creditors

55,822

32,000

Factoring account

215,849

172,207

Accrued expenses

100,482

73,052

728,702

625,104

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/19

31/3/18

£

£

Other loans (see note 9)

199,825

329,067

9.

LOANS

An analysis of the maturity of loans is given below:

31/3/19

31/3/18

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

25,035

24,759

Other loan - less than 1 year

182,914

158,381

207,949

183,140

Amounts falling due between two and five years:

Other loans - 2-5 years

199,825

329,067

10.

RESERVES

Retained

earnings

£

At 1st April 2018

206,003

Profit for the year

125,788

Dividends

(35,770

)

At 31st March 2019

296,021

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Dr T Haizel.