Smart Cells International Limited - Accounts to registrar (filleted) - small 18.2
Smart Cells International Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2021 |
| for |
| Smart Cells International Limited |
| Smart Cells International Limited (Registered number: 04031730) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2021 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Smart Cells International Limited |
| Company Information |
| for the Year Ended 31 December 2021 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 4th Floor |
| 167 Fleet Street |
| London |
| EC4A 2EA |
| Smart Cells International Limited (Registered number: 04031730) |
| Statement of Financial Position |
| 31 December 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Smart Cells International Limited (Registered number: 04031730) |
| Statement of Financial Position - continued |
| 31 December 2021 |
| 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 and authorised for issue on |
| Smart Cells International Limited (Registered number: 04031730) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2021 |
| 1. | STATUTORY INFORMATION |
| Smart Cells International Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| After considering the company's prospects, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. |
| Significant judgements and estimates |
| In preparing the financial statements, estimates and judgements are made that could affect the reported amounts of assets and liabilities within the next reporting period. Estimates and judgements are continually evaluated and are based on factors such as historical experience and current best estimates of uncertain future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. |
| The critical judgements and estimates made by management that have a significant effect on the amounts recognised in the financial statements are described below: |
| a) Useful lives of fixed assets |
| Depreciation is provided so as to write down the assets to their residual values over their estimated useful lives as set out in the relevant accounting policy. Determining the useful life of an asset requires management judgement which is periodically reviewed to ensure that depreciation charges and carrying values of fixed assets are reasonably stated. |
| b) Provisions for future storage costs |
| Future storage costs are estimated by management based on expected costs in the future. Actual costs may differ given the period of time over which the samples are stored. The estimated costs are regularly reviewed by management to ensure that the provisions are reasonably stated. |
| Turnover |
| Turnover represents net amounts receivable for sales of kits distributed, processing and for successful storage, net of provisions for future storage costs together with management fees receivable from fellow group companies, all excluding value added tax. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation. Amortisation is provided at the following annual rates over the estimated useful life of the asset: |
| Website costs - straight line over 4 years |
| Tangible fixed assets |
| Short leasehold | - |
| Laboratory and equipment | - |
| Office equipment | - |
| Fixtures and fittings | - |
| Smart Cells International Limited (Registered number: 04031730) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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. |
| Provision for storage liability |
| The provision relates to future liabilities for storage costs in relation to stem cell preservation, based on expected cash outflows over the next 24 years. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Smart Cells International Limited (Registered number: 04031730) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2021 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| Additions |
| At 31 December 2021 |
| AMORTISATION |
| Charge for year |
| At 31 December 2021 |
| NET BOOK VALUE |
| At 31 December 2021 |
| 5. | TANGIBLE FIXED ASSETS |
| Laboratory | Fixtures |
| Short | and | Office | and |
| leasehold | equipment | equipment | fittings | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 January 2021 |
| Additions |
| At 31 December 2021 |
| DEPRECIATION |
| At 1 January 2021 |
| Charge for year |
| At 31 December 2021 |
| NET BOOK VALUE |
| At 31 December 2021 |
| At 31 December 2020 |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2021 |
| Additions |
| At 31 December 2021 |
| NET BOOK VALUE |
| At 31 December 2021 |
| At 31 December 2020 |
| Smart Cells International Limited (Registered number: 04031730) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2021 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loan instalments due |
| after more than 5 years | - | 5,000 |
| - | 5,000 |
| 10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| At the balance sheet date, the director's overdrawn loan account was £65,044 (2020: £nil). Interest receivable includes £978 (2020: £9) due on any overdrawn amounts during the year. |
| 11. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| 12. | ULTIMATE CONTROLLING PARTY |
| Smart Cells International Limited is a wholly owned subsidiary of Smart Cells Holdings Limited, a company registered in England and Wales. Smart Cells Holdings Limited is a subsidiary of Polski Bank Komorek Macierzystych S.A., a company incorporated in Poland, which is under the control of Klaus Rohrig and Florain and Schuhbauer. |